Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lenders to make the Initial Advance and each subsequent Loan Advance under this Agreement shall be conditioned upon and subject to the payment to Administrative Agent of all loan fees then owing from Borrower to Administrative Agent and Lenders and to satisfaction of all of the following conditions:
Conditions Precedent in General. On or before each Disbursement including, but not limited to, the first Disbursement, the following conditions shall be met or have been complied with to the satisfaction of the Lender, acting reasonably:
Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lender to make any Loan Advance shall be conditioned upon and subject to the payment to Lender of all loan fees then owing from Borrower to Lender and to satisfaction of all of the following conditions:
Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lender to make any Loan Advance shall be conditioned upon and subject to the payment to Lender of all loan fees then owing from Borrower to Lender, including without limitation the Loan Expenses, and to satisfaction of all of the following conditions: (a) All representations and warranties contained in this Agreement and in the other Loan Documents shall be true in all material respects on and as of the date of such disbursement; (b) Borrower and Guarantor each shall have performed, or Lender shall have waived, all of its obligations under all Loan Documents which are required to be performed on or prior to the date of such disbursement; (c) Borrower shall have provided to Lender evidence of insurance on the Collateral, with the Lender named as additional insured, in form and substance satisfactory to Lender; **
Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lender to make the Loan shall be conditioned upon and subject to the payment to Lender of all loan fees then owing from Borrower to Lender, including without limitation the Loan Expenses, and to satisfaction of all of the following conditions:
Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lender to make any Loan Advance shall be conditioned upon and subject to the payment to Lender of all loan fees then owing from Borrower to Lender and to satisfaction of all of the following conditions: (a) The Lender shall have received all documents, instruments and reports referred to in Article 4, in form and substance reasonably acceptable to the Lender, as of the date of such disbursement. (b) All representations and warranties contained in this Agreement and in the other Loan Documents shall be true in all material respects on and as of the date of such disbursement. (c) Borrower shall have performed all of its obligations under all Loan Documents which are required to be performed on or prior to the date of such disbursement. (d) There shall be no Material Adverse Effect in the financial condition of Borrower as reasonably determined by Xxxxxx as of the date of such disbursement. (e) No Event of Default shall have occurred that has not been waived in writing by Xxxxxx, and no event or circumstance that with the giving of notice, the passage of time, or both, would constitute an Event of Default shall then exist. (f) No litigation or proceedings are pending (including proceedings under Title 11 of the United States Code) against Borrower or the Property, which litigation or proceedings, in the reasonable judgment of Xxxxxx, would adversely affect Borrower’s ability to perform its respective obligations under the Loan Documents or adversely affect the Property or any portion thereof. Section 7
Conditions Precedent in General. In addition to the other conditions set forth herein, the obligation of Lender to make the Initial Advance and each subsequent Loan Advance under this Agreement shall be conditioned upon and subject to the payment to Lender of all loan fees then owing from Borrower to Lender and to satisfaction of all of the following conditions: (a) All representations and warranties contained in this Agreement and in the other Loan Documents shall be true in all material respects on and as of the date of such disbursement. (b) Borrower shall have performed all of its obligations under all Loan Documents which are required to be performed on or prior to the date of such disbursement. (c) The Loan shall not be “out of balance” as determined under Section 5.8 below, and the disbursement shall not cause the Loan to be “out of balance.” (d) There shall be no material adverse change in the financial condition of Borrowed or any Guarantor as reasonably determined by Lender. (e) No Event of Default shall have occurred that has not been waived in writing by Lender, and no Unmatured Default shall then exist. (f) No litigation or proceedings are pending (including proceedings under Title 11 of the United States Code) against Borrower, Guarantor or the Project, which litigation or proceedings, in the reasonable judgement of Lender, would adversely affect Borrower’s or Guarantor’s ability to perform its respective obligations under the Loan Documents. 5.2 Use of Loan Proceeds; Inspections of the Work. The proceeds of the Loan disbursed to Borrower shall be used by Borrower solely for the purpose of paying (or reimbursement to others for payment of) items of Project Cost actually incurred by Borrower, and, in connection therewith, no Project Cost shall include expenses relating to any development, construction, operating or other cost attributable to any project other than the Project specifically described in this Agreement. Notwithstanding anything contained in this Agreement to the contrary, all inspections of the Work made by Lender, the Consultant or their respective agents, employees and designees shall be solely for Lender’s own information and
