Common use of Initial Advances and Letters of Credit Clause in Contracts

Initial Advances and Letters of Credit. The Lenders shall not be required to make the initial Loans or issue any Letters of Credit or purchase any participations therein unless (i) no law, regulation, order, judgment or decree of any Governmental Authority shall, and the Agent shall not have received any notice that litigation is pending or threatened which is likely to, (A) enjoin, prohibit or restrain the making of the initial Loans on the Closing Date or (B) impose or result in the imposition of a Material Adverse Effect; (ii) there shall have occurred no material adverse change in the primary and secondary loan syndication markets or capital markets generally; and

Initial Advances and Letters of Credit. The Lenders shall not be required to make the initial Loans or issue any Letters of Credit or purchase any participations therein unless (i) no law, regulation, order, judgment or decree of any Governmental Authority shall, and the Agent shall not have received any notice that litigation is pending or threatened which is likely to, (A) enjoin, prohibit or restrain the making of the initial Loans on the Closing Date June 24, 1998 or (B) impose or result in the imposition of a Material Adverse Effect; (ii) there shall have occurred no material adverse change in the primary and secondary loan syndication markets or capital markets generally; and