Borrowing Base Acquisition Advances; Increased Collateral Value Advances Clause Samples

Borrowing Base Acquisition Advances; Increased Collateral Value Advances. Notwithstanding that the Agent may have issued an Approval Notice, the Agent and the Lenders shall have no obligation to fund any Borrowing Base Acquisition Advance, or any Increased Collateral Value Advance, unless and until the Borrower shall have provided the Agent with a date down certification, dated as of the applicable Drawdown Date, in favor of the Agent and the Lenders as to the following matters (which certification shall be in the form attached hereto as Exhibit G, the "Funding Certification"): (1) If the requested Advance is for a Borrowing Base Acquisition Advance: (a) there has been no material change to the Due Diligence Materials or the Pre-Bond Closing Due Diligence Materials, as applicable, provided to the Agent and the Lenders; and (b) the Borrower shall have attached copies of the minutes of the Borrower's investment committee or similar body having the authority to approve the Borrower's purchase of the subject Project Bond evidencing the approval of the purchase of the subject Project Bond; and (c) the Borrower shall have confirmed that the Borrower shall cause the Required Collateral Documents to be delivered to the Agent and the Custodian, as applicable, in accordance with the provisions of Section 4.1(c)(iii)(2), and that the delay in delivering the applicable Required Collateral Documents to the Agent and the Custodian immediately is solely to provide the Borrower and Borrower's counsel with sufficient time to assemble in an orderly fashion for delivery to the Agent and the Custodian the applicable Required Collateral Documents; and (d) the Borrower shall have attached a fully completed Escrow Letter executed by the Escrow Agent with respect to such Project Bond; and (e) if required under clause (i)(v) of the definition of "Minimum Project Parameters," the Borrower shall have attached a fully completed and duly executed Bond Transfer Agreement. (2) For both Borrowing Base Acquisition Advances and Increased Collateral Value Advances: (a) All of the representations made by the Borrower in the Preliminary Certification remain true and accurate; and (b) The preconditions to such Advance set forth in Section 7.2 hereof have been satisfied.