Common use of Conditions Precedent to a Project Becoming a Qualifying Unencumbered Project Clause in Contracts

Conditions Precedent to a Project Becoming a Qualifying Unencumbered Project. No Property shall become a Qualifying Unencumbered Project until the Administrative Agent, or, if required, the Required Lenders, shall have approved of such Project as provided in Section 3.1, and Borrower shall have caused to be executed and delivered to the Administrative Agent the following instruments, documents and agreements in respect of such Property, each to be in form and substance reasonably satisfactory to the Administrative Agent: (a) if such Project is owned by a Subsidiary that is not already a Subsidiary Guarantor, a joinder agreement with respect to the Subsidiary Guaranty in the form attached thereto as Exhibit A executed by such Subsidiary and all of the items that would have been required to be delivered to the Administrative Agent under Sections 5.1(b) through (f) had such Subsidiary been a Loan Party on the Effective Date; (b) a Compliance Certificate calculated after giving effect to the inclusion of such Project as a Qualifying Unencumbered Project; and (c) such other due diligence materials, instruments, documents, certificates, and opinions as the Administrative Agent may reasonably request.

Conditions Precedent to a Project Becoming a Qualifying Unencumbered Project. No Property shall become a Qualifying Unencumbered Project until the Administrative Agent, or, if required, the Required Requisite Lenders, shall have approved of such Project as provided in Section 3.1, and Borrower shall have caused to be executed and delivered to the Administrative Agent the following instruments, documents and agreements in respect of such Property, each to be in form and substance reasonably satisfactory to the Administrative Agent: (a) if such Project is owned by a Subsidiary that is not already a Subsidiary Guarantor, a joinder agreement with respect to the Subsidiary Guaranty in the form attached thereto as Exhibit A executed by such Subsidiary and all of the items that would have been required to be delivered to the Administrative Agent under Sections 5.1(b) through (f) had such Subsidiary been a Loan Party on the Effective Date;; ncbcrex.htm 14534489\V-10 (b) a Compliance Certificate calculated after giving effect to the inclusion of such Project as a Qualifying Unencumbered Project; and (c) such other due diligence materials, instruments, documents, certificates, and opinions as the Administrative Agent may reasonably request.

Conditions Precedent to a Project Becoming a Qualifying Unencumbered Project. No Property shall become a Qualifying Unencumbered Project until the Administrative Agent, or, if required, the Required Lenders, shall have approved of such Project as provided in Section 3.1, and Borrower shall have caused to be executed and delivered to the Administrative Agent the following instruments, documents and agreements in respect of such Property, each to be in form and substance reasonably satisfactory to the Administrative Agent: (a) if a Subsidiary Guaranty is then in effect and such Project is owned by a Subsidiary that is not already a Subsidiary Guarantor, a joinder agreement with respect to the Subsidiary Guaranty in the form attached thereto as Exhibit A executed by such Subsidiary and all of the items that would have been required to be delivered to the Administrative Agent under Sections 5.1(b) through (f) had such Subsidiary been a Loan Party on the Effective Date; (b) a Compliance Certificate calculated after giving effect to the inclusion of such Project as a Qualifying Unencumbered Project; and (c) such other due diligence materials, instruments, documents, certificates, and opinions as the Administrative Agent may reasonably request.