Conditions of Advance. The Lender agrees to advance the Loan up to USD$149,000 upon the execution of this Agreement by the Lender, solely on the condition that the Loan is used by the Borrower towards working capital and investment opportunities.
Conditions of Advance. The obligations of the Lender to make available the Advance to the Borrower are subject to compliance, with each of the following conditions precedent, which conditions precedent are for the sole and exclusive benefit of the Lender and may be waived in writing by the Lender in its sole discretion:
(a) the representations and warranties set out in Article 5 shall be true and correct on the date of the Advance as if made on and as of such date;
(b) the Borrower shall have delivered the Loan Documents to the Lender;
(c) the Lender shall have received an opinion of the Borrower's counsel that the Loan Documents have been duly executed and delivered and are enforceable against the Borrower in accordance with their terms;
(d) the Lender shall have received a certificate of insurance from the Borrower's insurer showing the Lender as just loss payee;
(e) evidence of PPSA registration in Ontario against the Borrower in respect of the General Security Agreement;
(f) copy of Henry's driver’s licence or passport.
Conditions of Advance. 14 5. REPAYMENT...........................................................16
Conditions of Advance. The Lender agrees to advance the Loan, in such installments as requested by the Borrower, in writing, promptly upon receiving such written request following the execution of this Agreement by the Lender, solely on the condition that the Loan is used by the Borrower towards working capital needs and its operations in Colombia.
Conditions of Advance. The obligations of 236 to make available the advance to TTE are subject to compliance, with each of the following conditions precedent, which conditions precedent are for the sole and exclusive benefit of 236 and may be waived in writing by 236 in its sole discretion.
Conditions of Advance. The obligation of the Lender to advance the Principal Amount to the Borrower pursuant to Article 2 - of this Agreement (the "Advance") is subject to fulfilment of the following conditions precedent (in each case in form and substance satisfactory to the Administrative Agent, acting reasonably): no Default or Event of Default has occurred or is continuing or would arise immediately after giving effect to or as a result of the Advance; the Advance shall not violate any Applicable Law; no order, judgment or decree of any court, arbitrator or Governmental Entity shall purport to enjoin or restrain the Lender from making the Advance; there is not pending or threatened, any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration by, against or affecting any Credit Party or any property of any Credit Party that has not been disclosed to the Administrative Agent by the Borrower in writing and, since August 1, 2020 there shall have been no development in any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration that, in the opinion of the Administrative Agent, could reasonably be expected to have a Material Adverse Effect; delivery of a certificate from a senior officer of each Credit Party that the representations and warranties of the Credit Parties contained in Article 7 -and of the Credit Parties contained in any other Credit Document are true and correct on Closing Date and on the date of the Advance as if such representations and warranties were made on each such date; there has not occurred any change of circumstance or event since the date hereof, nor has the Administrative Agent become aware of any facts not previously disclosed or known, which the Administrative Agent determines could have a Material Adverse Effect; delivery of a certificate from a senior officer of each Credit Party: (i) attaching true copies of (A) the constating documents and by-laws including all amendments thereto, if any, (B) all resolutions of the board of directors or shareholders, as the case may be, approving the borrowing and other matters contemplated by this Agreement and the other Credit Documents to which it is a party, and (C) a list of the officers and directors authorized to sign agreements together with their specimen signatures; and (ii) certifying that (A) all necessary permits and licenses, including the Health Canada Licence, relating to the operation of, and production at, t...
Conditions of Advance. The obligations of the Lender to make available the Advance to the Borrower are subject to compliance, with each of the following conditions precedent, which conditions precedent are for the sole and exclusive benefit of the Lender and may be waived in writing by the Lender in its sole discretion:
(a) the Borrower shall have verified that the information contained in the Loan Documents and the representations and warranties set out in Article 5 shall be true and correct on the date of the Advance as if made on and as of such date;
(b) the Borrower shall have delivered the fully executed Loan Documents and copies of the Guarantors’ driver’s licences or passports to the Lender;
(c) the Borrower shall have consented to the Lender, and any of its third party service providers, collecting and using the information provided by the Borrower or collected with the Borrower’s prior authorization, for the following purposes: (a) processing the Application; (b) providing the Borrower with services, including education, management and mentorship; and (c) advertising, media relations, marketing, fundraising, social media and promotions in connection with the Lender’s operations; and
(d) the Guarantors shall have authorized the Lender to obtain personal credit reports and/or credit scores from Equifax (Credit Bureau).
Conditions of Advance. 1 This Lease has been executed and delivered by Tenant in form acceptable to Landlord, and Tenant is not in default thereof.
Conditions of Advance. 4.1 Initial conditions precedent The Borrower may not deliver the Drawdown Notice unless the Agent has received all of the documents listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon such receipt.
Conditions of Advance. The following shall be provided to the Bank each time the Borrower wishes an advance to be made under the Construction Loan:
(a) Claim for progress draw ("Progress Claim"), containing a breakdown of all subtrade accounts, which shall be accompanied by a statutory declaration of an officer of the Borrower declaring that all subtrade accounts for the Project for the period of 30 days immediately preceding the Progress Claim have been paid in full, except for accounts which are to be paid under the Progress Claim;
(b) A project cost summary (the "Project Cost Summary") in form approved by the Bank's quantity surveyor certified by the Borrower's architect or such other person identified as the payment certifier under the construction contract or contracts entered into by the Borrower with respect to the Project, as required by the [Builders Lien Act (British Columbia )] [replace with appropriate statute in other Provinces], or similar legislation, which shall set out:
(i) the original estimate of the cost of construction of the Project;
(ii) the present estimate of the cost of construction of the Project;
(iii) the percentage of the construction completed to date;
(iv) the estimated cost to complete the Project;
(v) the value of the construction cost covered under the Progress Claim;
(vi) the variance from the original budget;
(vii) a breakdown of the cost of construction among direct construction costs and specific soft costs;
(c) A certificate from the Bank's quantity surveyor that:
(i) all construction is being performed in accordance with the plans and specifications and fixed price contract approved by the Bank;
(ii) construction is progressing in accordance with the construction timetable approved by the Bank;
(iii) the portion of the Progress Claim pertaining to direct construction costs represents work actually completed on the Project;
(iv) the estimate of the cost to complete as set out in the Project Cost Summary, including interest accruing due under the Construction Loan, is reasonable, accurate and sufficient to complete the Project, and does not exceed the unadvanced portion of the Construction Loan;
(d) At the Borrower's cost, satisfactory report from the Bank's solicitors following a Land Title Office search on the Lands immediately prior to the advance, showing the Lands as being duly registered in the name of the Borrower and encumbered only by the Security Documents in favour of the Bank;
(e) The Bank shall not be required to make an advanc...
