In the context of the "Closing" of a transaction, such as an Equity or Bond issue, a loan or the sale of an asset, the "conditions precedent" (also called "CPs") are the conditions which need to be satisfied for the Closing to take place, such as (i) "Representations and warranties" made by the borrower/seller; and (ii) "free title" on the Assets given as borrowing Collateral. Alternatively the relevant CP must be waived by the lender or acquirer.

(See Chapters 26 and 44 of the Vernimmen)

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