Common use of Initial Extension of Credit of any Class Clause in Contracts

Initial Extension of Credit of any Class. The obligation of ---------------------------------------- any Lender to make its initial extension of credit hereunder (whether by making a Loan or issuing a Letter of Credit) is subject to the conditions precedent that (i) there shall have been no material adverse change in financial, banking and capital market conditions and (ii) the Administrative Agent and the Arranger shall have received the following documents, each of which shall be reasonably satisfactory to the Administrative Agent and the Arranger (and to the extent specified below, to each Lender) in form and substance, it being understood that, to the extent a form of a particular document is specified below, such form shall be deemed to be satisfactory to the Administrative Agent and the Arranger and the Lenders:

Initial Extension of Credit of any Class. The obligation of ---------------------------------------- any Lender to make its initial extension of credit hereunder (whether by making a Loan or issuing a Letter of Credit) is subject to the conditions precedent that (i) there such extension of credit shall have been no material adverse change in financialbe made on or before December 15, banking and capital market conditions 1996 and (ii) the Administrative Agent and the Arranger shall have received the following documentsdocuments (with, in the case of clauses (a), (b), (c), (d) and (e) below, sufficient photocopies for each Lender), each of which shall be reasonably satisfactory to the Administrative Agent and the Arranger (and to the extent specified below, to each Lender) in form and substance, it being understood that, to the extent a form of a particular document is specified below, such form shall be deemed to be satisfactory to the Administrative Agent and the Arranger and the Lenders: