CONDITIONS PRECEDENT TO THE INITIAL LOAN AND INITIAL LETTER OF. CREDIT. ------- The obligations of the Administrative Agent and each Lender hereunder, and the obligations of the Lenders to make the initial Loans or the Issuing Bank to issue the initial Letter of Credit, whichever shall occur first, shall be subject to the fulfillment or waiver by the Lenders of each of the following conditions precedent:
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CONDITIONS PRECEDENT TO THE INITIAL LOAN AND INITIAL LETTER OF. CREDIT. ------- ------ The obligations of the Administrative Agent and each Lender hereunder, and the obligations of the Lenders to make the initial Loans or the Issuing Bank to issue the initial Letter of Credit, whichever shall occur first, shall be subject to the fulfillment or waiver by the Lenders of each of the following conditions precedent:
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