Acquisition Facility Extensions of Credit Sample Clauses

Acquisition Facility Extensions of Credit. If, at the time the Borrower requests any Acquisition Facility Extension of Credit hereunder, the then outstanding principal balance of all Acquisition Facility Extensions of Credit (including the face amount of any Acquisition Facility Letters of Credit) is less than $4,178,750 (such requested Acquisition Facility Extension of Credit, an “Acquisition Taxable Advance”), then, with respect to any Mortgage covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Acquisition Loans which is more than the then outstanding principal balance of all Acquisition Facility Extensions of Credit (including the face amount of any Acquisition Facility Letters of Credit), Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such Acquisition Taxable Advance, and Borrower shall pay all applicable mortgage recording tax on that portion of the Acquisition Taxable Advance which equals the difference between such then outstanding principal balance of the Acquisition Facility Extensions of Credit prior to the Acquisition Taxable Advance and the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to the Acquisition Loans. Before such Acquisition Taxable Advance is made, the Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Acquisition Taxable Advance (and the recording of such supplemental instrument(s) has been paid.
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Acquisition Facility Extensions of Credit. If, at the time the Borrower requests any Acquisition Facility Extension of Credit hereunder, the then outstanding principal balance of all Acquisition Facility Extensions of Credit (including the face amount of any Acquisition Facility Letters of Credit) is less than $[ ] (such requested Acquisition Facility Extension of Credit, an “Acquisition Facility Taxable Advance”), Borrower shall cause to be recorded in the appropriate land records a supplemental instrument in form and substance satisfactory to the Administrative Agent which evidences that each Mortgage covering real property located in the State of New York secures such Acquisition Facility Taxable Advance, and Borrower shall pay all applicable mortgage recording tax on that portion of the Acquisition Facility Taxable Advance which equals the difference between such then outstanding principal balance of the Acquisition Facility Extensions of Credit prior to the Acquisition Facility Taxable Advance and $[ ]. Before such Acquisition Facility Taxable Advance is made, the Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental instrument and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection with such Acquisition Facility Taxable Advance has been paid.]1
Sample 1

Related to Acquisition Facility Extensions of Credit

  • Extensions of Credit The Extensions of Credit made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Extensions of Credit made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Revolving Credit Note and/or Swingline Note, as applicable, which shall evidence such Lender’s Revolving Credit Loans and/or Swingline Loans, as applicable, in addition to such accounts or records. Each Lender may attach schedules to its Notes and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto.

  • Conditions to Extensions of Credit The obligation of any Lender to make any Extension of Credit hereunder is subject to the satisfaction of such of the following conditions on or prior to the proposed date of the making of such Extension of Credit:

  • Conditions to All Extensions of Credit The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit:

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • Commitments and Credit Extensions 2.01 The Loans .

  • Investments, Acquisitions, Loans and Advances The Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to (other than for travel advances and other similar cash advances made to employees in the ordinary course of business), any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Conditions of Credit Extensions The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions:

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