Common use of Conditions Precedent to Advances Clause in Contracts

Conditions Precedent to Advances. The obligations of the Lender under this Agreement to make Advances are subject to the following conditions precedent, all of which must be fulfilled prior to or concurrently with an Advance under this Agreement: (a) The Borrower shall have executed and delivered the Note and the Mortgages, satisfying the Loan-to-Value Ratio, to the Lender. (b) The Lender has received all documents required by this Agreement to be delivered to the Lender and such documents shall be in full force and effect. (c) All representations or warranties contained in this Agreement are true and correct. (d) There is no Event of Default and no condition, event or act, which with notice or lapse of time, or both, would constitute an event of default. (e) All legal proceedings and documents in connection with the borrowing under this Agreement are satisfactory in form and substance to the Lender and its counsel. (f) The Lender shall have received all fees, costs and expenses required to be paid by the Borrower under the terms of this Agreement.

Conditions Precedent to Advances. The obligations of the Lender under this Agreement to make Advances are subject to the following conditions precedent, all of which must be fulfilled prior to or concurrently with an Advance under this Agreement: (a) The Borrower shall have executed and delivered the Note Notes and the Mortgages, satisfying the Loan-to-Value Ratio, to the Lender. (b) The Lender has received all documents required by this Agreement to be delivered to the Lender and such documents shall be in full force and effect. (c) All representations or warranties contained in this Agreement are true and correct. (d) There is no Event of Default and no condition, event or act, which with notice or lapse of time, or both, would constitute an event of default. (e) All legal proceedings and documents in connection with the borrowing under this Agreement are satisfactory in form and substance to the Lender and its counsel. (f) The Lender shall have received all fees, costs and expenses required to be paid by the Borrower under the terms of this Agreement.

Conditions Precedent to Advances. The obligations of the Lender under this Agreement to make Advances are subject to the following conditions precedent, all of which must be fulfilled prior to or concurrently with an Advance under this Agreement: (a) The Borrower shall have executed and delivered the Note Notes [and the Mortgages, satisfying the Loan-to-Value Ratio, ,] to the Lender. (b) The Lender has received all documents required by this Agreement to be delivered to the Lender and such documents shall be in full force and effect. (c) All representations or warranties contained in this Agreement are true and correct. (d) There is no Event of Default and no condition, event or act, which with notice or lapse of time, or both, would constitute an event of default. (e) All legal proceedings and documents in connection with the borrowing under this Agreement are satisfactory in form and substance to the Lender and its counsel. (f) The Lender shall have received all fees, costs and expenses required to be paid by the Borrower under the terms of this Agreement.