All Disbursements. In addition to the provisions of Section 4.01 above, the obligation of EBRD to make any Disbursement shall also be subject to the fulfilment, in form and substance satisfactory to EBRD, or at the sole discretion of EBRD the waiver, whether in whole or part and whether subject to conditions or unconditional, of the conditions that, on the date of the Borrower's application for such Disbursement and on the date of such Disbursement:
All Disbursements. The obligation of the Administrative Agent and the Lenders to make any Disbursements is subject to the satisfaction of each of the following conditions precedent:
All Disbursements. The obligation of the Lenders to make any Disbursements hereunder, or of the Agent to issue, renew or extend any Letters of Credit hereunder, is subject to the performance by the Borrower of its obligations to be performed hereunder at or prior to the making of any such Disbursement or the issuance, renewal or extension of any such Letter of Credit, as the case may be, and to the satisfaction of each of the following conditions precedent:
All Disbursements. At the time of each subsequent Disbursement hereunder:
(a) the representations and warranties set forth in Sections 5.1, 5.2, 5.4, 5.5, 5.7, 5.8, 5.9, 5.10, 5.11 5.12, 5.13, 5.14, and 5.15 shall be true and correct as of the date of such Disbursement, unless (i) the same expressly relate to an earlier date; or (ii) changes thereto are disclosed to CIRM in updates to the Schedules hereto provided by Loan Recipient at least three (3) business days prior to such Disbursement; provided that, (A) in the case of (i) and (ii), no Material Adverse Effect exists, and (B) clauses (i) and (ii) shall not apply to the first two sentences of Section 5.1 and the first two sentences of Section 5.2; and
(b) no Event of Default or other event permitting termination of this Agreement shall have occurred and be continuing or would occur as a result of such Disbursement. Acceptance by Loan Recipient of a Disbursement hereunder through deposit of such Disbursement to Loan Recipient’s account shall be deemed to be a representation and warranty by Loan Recipient on the date of such Disbursement as to the matters specified in subsections (a) through (b), inclusive, of this Section 4.13; provided, however, that CIRM may continue to make Disbursements in its sole discretion, notwithstanding the failure of Loan Recipient to satisfy one or more of the conditions set forth above and any such Disbursements so made shall not be deemed a waiver of any Event of Default or other condition set forth above that may then exist.
All Disbursements. The obligation of the Lenders to make any Disbursements is subject to the satisfaction of each of the following conditions precedent:
All Disbursements. The obligation of EBRD to make any Disbursement, including (except as otherwise provided) each Renewal Disbursement, shall also be subject to the fulfilment, in form and substance satisfactory to EBRD, or at the sole discretion of EBRD the waiver, whether in whole or part and whether subject to conditions or unconditional, of the conditions that, on the date of the Borrower's application for such Disbursement (other than in the case of a Renewal Disbursement) and on the date of such Disbursement:
All Disbursements. The obligation of the Bank to make any Disbursement shall also be subject to the fulfillment, in form and substance satisfactory to the Bank, of the conditions that, on the date of the Borrower’s application for such Disbursement and on the date of such Disbursement:
All Disbursements. The obligation of the Lenders to make any Disbursements (or the obligation of the Lenders to convert any of the then outstanding Short Term Revolving Credit Loans to the Term Loan on the Short Term Revolving Credit Termination Date) is subject to the satisfaction of each of the following conditions precedent:
All Disbursements. In addition to the satisfaction of the conditions precedent set forth in Section 6.2, the obligation of each Bank to make each Disbursement under its Long Term Revolving Credit Commitment or its Short Term Revolving Credit Commitment and the obligation of the Agent to issue, renew or extend Letters of Credit is subject to the performance by the Borrower of all of its obligations under this Agreement and to the satisfaction of each of the following conditions precedent:
(i) Receipt by the Agent of a Request for a Disbursement or an application for the issuance, renewal or extension of a Letter of Credit, as the case may be;
(ii) The fact that, at the time of each Disbursement or issuance, renewal or extension of a Letter of Credit, as the case may be, no Event of Default and no event which, with the giving of notice or lapse of time or both would become such an Event of Default, shall have occurred and be continuing;
(iii) The fact that, at the time of each Disbursement or issuance, renewal or extension of a Letter of Credit, as the case may be, the Borrower is in compliance with each of the financial covenants set forth in Sections 5.1 and 5.2 then applicable; and
(iv) The fact that at the time of each Disbursement or issuance, renewal or extension of a Letter of Credit, as the case may be, the representations and warranties contained in this Agreement are true and correct in all material respects on and as of the date of such Disbursement or such issuance, renewal or extension of a Letter of Credit, as the case may be. Each borrowing by the Borrower and each issuance, renewal or extension of a Letter of Credit hereunder shall be deemed to be, as of the date of such borrowing or such issuance, renewal or extension of a Letter of Credit, as the case may be, a representation and warranty by the Borrower as to the facts specified in items (ii), (iii) and (iv) of this Section 6.1.
All Disbursements. The following shall be conditions precedent to all disbursements:
(i) The Developer shall not be in default in the performance of the terms and provisions of this Agreement.
(ii) Requests for disbursements shall be accompanied by:
(1) A certificate by the Developer that all bills for labor, materials and services then incurred and payable in connection with the Project have been paid or will be paid from the advance being requested, except those being disputed by Developer and for which arrangements reasonably satisfactory to Owner ensuring that no liens or claims will result against the Property have been made or which have been bonded off.
(2) Certificate signed by the Developer, and the Supervising Architect, certifying that the construction of the Project to date has been performed substantially in accordance with the Working Drawings.
(3) An updated title examination report showing any new documents of record which affect Owner’s title to the Property. All costs in connection with said endorsement shall be a Project cost.
(4) A Lien Waiver and Release from General Contractor and all Major Subcontractors, subcontractors and suppliers who have worked on the Project.
