Common use of Conditions Precedent to Issuance Clause in Contracts

Conditions Precedent to Issuance. Subject to satisfaction of the conditions precedent set forth in subsections (b) and (c) of this Section 2, the Bank shall issue the Letter of Credit in the Stated Amount, effective on the Date of Issuance and expiring on the Expiration Date.

Conditions Precedent to Issuance. Subject to satisfaction of the conditions precedent set forth in subsections (b), (c) and (cd) of this Section 2Section, the Bank shall issue the Letter of Credit on the date set forth in the Stated Amount, notice referred to in Section 3(b)(viii) (such date or such later date on which the conditions precedent are satisfied and the Letter of Credit is issued being herein called the "Issuance Date"). The Letter of Credit shall be effective on the Issuance Date of Issuance and expiring shall expire on the Expiration Termination Date.