Common use of Conditions of Advance Clause in Contracts

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. 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 Xxxxx'x driver’s licence or passport.