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Additional Conditions Precedent
Additional Conditions Precedent contract clause examples

SECTION # Conditions to the Borrowing of the Tranche A Additional First-Out Loan. The obligation of the Initial First-Out Lender to make the Tranche A Additional First-Out Loan as set forth in Section 2 above is subject to the satisfaction of the following conditions precedent (the first date on which such conditions precedent shall have been satisfied (but that is at least one Business Day after the Amendment Effective Date) is referred to as the “Tranche A Additional First-Out Loan Borrowing Date”):

SECTION # Conditions to the Borrowing of the Initial First-Out Loan. The obligation of the Initial First-Out Lender to make the Initial First-Out Loan as set forth in Section 3 above is subject to the satisfaction of the following conditions precedent (the first date on which such conditions precedent shall have been satisfied (but that is at least three Business Days after the Amendment Effective Date) is referred to as the “Initial First-Out Loan Borrowing Date”):

Subject to the occurrence of each of the Amendment Effective Date (as defined below) and the Tranche A Additional First-Out Loan Borrowing Date, the Initial First-Out Lender agrees to make an Additional First-Out Loan (such Additional First-Out Loan, the “Tranche A Additional First-Out Loan”) to the Borrower in Dollars on the Tranche A Additional First-Out Loan Borrowing Date in a principal amount of $5,000,000 (the agreement of the Initial First-Out Lender to make the Tranche A Additional First-Out Loan being referred to as the “Tranche A Additional First-Out Loan Commitment”). Subject to the terms and conditions of the Credit Agreement, the Borrower may prepay the Tranche A Additional First-Out Loan but no amount paid or repaid with respect to the Tranche A Additional First-Out Loan may be reborrowed. The Tranche A Additional First-Out Loan may be a Base Rate Loan or a Eurodollar Loan, as further provided in the Credit Agreement.

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