Condition precedent

1. Loan agreement.

A condition of a loan agreement which must be satisfied before the loan may be drawn down.

2. Law - contracts.

More generally in contract law, a contractual condition which must be satisfied, before a party becomes legally obliged to perform their side of the contract.

3. Other contexts.

Even more broadly, any event which must happen first, before another event can happen.

See also

• Condition
• Contract
• Loan agreement
• Precedent