Common use of Conditions Precedent to the First Advance Clause in Contracts

Conditions Precedent to the First Advance. The obligations of the Financiers to make the first Advance available to the Borrower under this agreement are subject to the Facility Agent being satisfied that on the first Drawdown Date: (a) (Documents): the Facility Agent has first received all of the documents listed in Schedule 3 in form and substance reasonably satisfactory to it; and (b) (Fees): all fees then due from the Borrower under clause 10 have been paid.