Common use of Conditions Precedent to Initial Disbursement Clause in Contracts

Conditions Precedent to Initial Disbursement. The obligation of JBIC to make the initial JBIC Disbursement under this Agreement shall be subject to (a) the fulfillment, in a manner satisfactory to JBIC, prior to or concurrently with the making of such initial JBIC Disbursement, of the conditions precedent set forth in Section 5.01 of the Master Participation Agreement (or waiver thereof in accordance with Section 5.01 of the Master Participation Agreement), which conditions are incorporated by reference herein as if fully set forth herein; (b) the fulfillment of the conditions set out in clause (1) of Annex A attached hereto (or waiver thereof by JBIC in accordance with Section 5.01 of the Master Participation Agreement); and (c) with respect to any JBIC Disbursement of Tranche B, the JBIC Agent shall have received the corresponding portion of Tranche B from each JBIC Tranche B Funding Source Bank.