In contract law, a term in a contract which provides that the agreement or certain parts of the agreement will only come into force if and when certain conditions are satisfied.

In a loan agreement, a condition that must be satisfied by the borrower before it may request a drawdown and the lender is obliged to lend. Unless otherwise provided, the rest of the loan agreement will be binding on the borrower on execution and it will be obliged to pay fees and comply with the terms of the loan agreement.