ARTICLE 4. CONDITIONS PRECEDENT
4.1 Conditions to Loans. The agreement of Lender to make the Loan requested to be made by it hereunder is subject to the satisfaction, prior to or concurrently with the making of such Loan on the Closing Date, of the following conditions precedent:
(a) Loan Documents. The Lender Agent shall have received (i) this Agreement, executed and delivered by a duly authorized officer of the Borrower,
(b) Financial Statements. The Lender Agent shall have received (i) audited financial statements of the Borrower for the two previous fiscal year ends and such financial statements shall not, in the reasonable judgment of the Lender, reflect any material adverse change in the financial condition of the Borrower, as reflected in the financial statements or projections to be contained in the Confidential Information Memorandum.
(c) Approvals. All material governmental and third party approvals (including landlords' and other consents) necessary in connection with the continuing operations of the Borrower and the transactions contemplated hereby shall have been obtained and be in full force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose adverse conditions on the financing contemplated hereby.