Common use of Conditions Precedent to Advances Clause in Contracts

Conditions Precedent to Advances. The obligation of the Bank to honor any Request for Advance is subject to the following conditions precedent: (a) The representations and warranties of the District contained in Article VI hereof shall be true and correct on and as of the date of such Advance, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof. (c) The Bank shall have received a Request for Advance in accordance with the requirements hereof. (d) After giving effect to any Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment. (e) Such Advance shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect. (f) The Bank shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon. (g) The Bank shall have received, in form and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and as of the date of the applicable Advance.

Conditions Precedent to Advances. The obligation As a condition precedent to the making of any Advance (i) Lender shall have received all instruments, agreements and documents required to be delivered to Lender in respect of such Advance or the related Pledged Mortgage Loan as set forth in this Agreement, including, without limitation, a fully executed copy of the Bank Letter Agreement; (ii) Lender shall have received a Guaranty from each Guarantor, if any; (iii) Lender shall have received a special power of attorney executed by Borrower in form acceptable to honor any Request for Advance is subject to Lender; (iv) the following conditions precedent: (a) The representations and warranties of the District contained Borrower set forth in Article VI hereof this Agreement shall be true true, correct and correct on and as of the date of such Advance, except to the extent that such representations and warranties specifically refer to an earlier date, complete in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(aall material respects; (v) hereof. (b) No a Default or an Event of Default shall exist, or would result from not have occurred and be continuing hereunder; (vi) immediately following such proposed Advance or from the application of the proceeds thereof. (c) The Bank shall have received a Request for Advance in accordance with the requirements hereof. (d) After giving effect to any Advance, the aggregate principal amount Outstanding Principal Amount of all Advances outstanding hereunder shall not exceed the Available Commitment. Commitment Amount or any Sublimit listed on Annex 1 hereto; (evii) Such Advance shall not violate any orderall acts, judgment or decree conditions and things (including without limitation, the obtaining of any court necessary regulatory approvals and the making of any required filings, recordings or authority registrations) required to be done and performed and to have happened precedent to the execution, delivery and performance of competent jurisdiction or any provision this Agreement and the transactions contemplated hereby, and to constitute this Agreement as the legal, valid and binding obligation of law as then in effect. (f) The Bank shall not have received notice (either verbal or written) from the DistrictBorrower, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon. (g) The Bank shall have received, been done and performed and shall have happened in form due and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) strict compliance with all applicable laws; and (bviii) any and all other conditions precedent for the making of such Advance set forth in this Agreement shall have been satisfied on and as of the date of the applicable Advancesatisfied.

Conditions Precedent to Advances. The obligation funding of the Bank to honor any Request for Aggregate Advance is under this Agreement shall be subject to the satisfaction, as of the applicable date of the Aggregate Advance, of each of the following conditions precedentconditions: (a) The All of the terms, covenants, agreements and conditions of the Transaction Documents, including Section 2.12 of the Indenture, required to be complied with and performed by each Transaction Party on or prior to the applicable date of such Aggregate Advance, shall have been complied with and performed; (b) Each of the representations and warranties of the District contained in Article VI hereof this Agreement, the Indenture and the other Transaction Documents made by each Transaction Party to such agreements shall be true and correct on and in all material respects as of the such date as though made as of such Advance, time (except to the extent that they expressly relate to an earlier time, then such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof.time); (c) The Bank representations and warranties set forth in Section 3.02(a)(xxv) of the Sale and Servicing Agreement shall have received a Request for Advance in accordance be true and correct with respect to the requirements hereof.Subsequent Receivables to be transferred on the proposed date of such Advance; (d) After No Event of Default, Servicer Event of Default, Default, or Termination Event shall have occurred and be continuing (both before and after giving effect to any such Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment.); (e) Such Advance Both before and immediately after giving effect to such Aggregate Advance, the Collateral Test Amount shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.be less than zero (0); (f) The Bank end of the Funding Period shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon.occurred; (g) The Bank On or before the proposed date of such Aggregate Advance, the Administrative Agent shall have received, received executed copies of one or more Hedge Agreements as required by Section 3.15 of the Indenture; (h) All fees due and payable under the Fee Letter (as defined in form and substance satisfactory to it, such other assurances, certificates, documents or consents related the Indenture) to the foregoing Initial Purchasers and the Agent as of the Bank reasonably may require. applicable date of such Aggregate Advance shall have been paid in full; (i) All fees and expenses due and payable pursuant to Section 7.01 hereof shall have been paid in full; and (j) Each Request for Advance submitted by of the District Transaction Documents shall be deemed in full force and effect. Notwithstanding the foregoing, with respect to be a representation any Pre-Funding Receivables Advance and warranty that the conditions specified in Sections 7.02(arelated Pre-Funding Receivables, each of the requirements of Section 4.02(a) and (b) have been satisfied on and as above that relate to any of the date Formal Transfer Requirements shall be satisfied only at the time of the applicable Advancerelated Pre-Funding Transfer Date.

Conditions Precedent to Advances. The obligation funding of the Bank to honor any Request for Aggregate Advance is under this Agreement shall be subject to the satisfaction, as of the applicable date of the Aggregate Advance, of each of the following conditions precedentconditions: (a) The All of the terms, covenants, agreements and conditions of the Transaction Documents, including Section 2.12 of the Indenture, required to be complied with and performed by each Transaction Party on or prior to the applicable date of such Aggregate Advance, shall have been complied with and performed; (b) Each of the representations and warranties of the District contained in Article VI hereof this Agreement, the Indenture and the other Transaction Documents made by each Transaction Party to such agreements shall be true and correct on and in all material respects as of the such date as though made as of such Advance, time (except to the extent that they expressly relate to an earlier time, then such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof.time); (c) The Bank representations and warranties set forth in Section 3.02(a)(xxv) of the Sale and Servicing Agreement shall have received a Request for Advance in accordance be true and correct with respect to the requirements hereof.Subsequent Receivables to be transferred on the proposed date of such Advance; (d) After No Event of Default, Servicer Event of Default, Default, or Termination Event shall have occurred and be continuing (both before and after giving effect to any such Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment.); (e) Such Advance Both before and immediately after giving effect to such Aggregate Advance, the Collateral Test Amount shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.be less than zero (0); (f) The Bank end of the Funding Period shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon.occurred; (g) The Bank On or before the proposed date of such Aggregate Advance, the Administrative Agent shall have received, received executed copies of one or more Hedge Agreements as required by Section 3.15 of the Indenture; (h) All fees due and payable under the Fee Letter (as defined in form and substance satisfactory to it, such other assurances, certificates, documents or consents related the Indenture) to the foregoing Initial Purchasers and the Agent as of the Bank reasonably may require. applicable date of such Aggregate Advance shall have been paid in full; (i) All fees and expenses due and payable pursuant to Section 7.01 hereof shall have been paid in full; and (j) Each Request for Advance submitted by of the District Transaction Documents shall be deemed in full force and effect. Notwithstanding the foregoing, with respect to be a representation any Pre-Funding Receivables Advance and warranty that the conditions specified in Sections 7.02(arelated Pre-Funding Receivables, each of the requirements of Section 4.02(a) and (b) have been satisfied on and as above that relate to any of the date of Formal Transfer Requirements shall be satisfied after the applicable Advancerelated Pre-Funding Transfer Date, as indicated on the Weekly Servicer Report.

Conditions Precedent to Advances. The obligation funding of the Bank to honor any Request for Aggregate Advance is under this Agreement shall be subject to the satisfaction, as of the applicable date of the Aggregate Advance, of each of the following conditions precedentconditions: (a) The All of the terms, covenants, agreements and conditions of the Transaction Documents, including Section 2.12 of the Indenture, required to be complied with and performed by each Transaction Party on or prior to the applicable date of such Aggregate Advance, shall have been complied with and performed; (b) Each of the representations and warranties of the District contained in Article VI hereof this Agreement, the Indenture and the other Transaction Documents made by each Transaction Party party to such agreements shall be true and correct on and in all material respects as of the such date as though made as of such Advance, time (except to the extent that they expressly relate to an earlier time, then such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof.time); (c) The Bank representations and warranties set forth in Section 3.02(a)(xxv) of the Sale and Servicing Agreement shall have received a Request for Advance in accordance be true and correct with respect to the requirements hereof.Subsequent Receivables to be transferred on the proposed date of such Advance; (d) After No Event of Default, Servicer Event of Default, Default, or Termination Event shall have occurred and be continuing (both before and after giving effect to any such Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment.); (e) Such Advance Both before and immediately after giving effect to such Aggregate Advance, the Collateral Test shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.be satisfied; (f) The Bank end of the Funding Period shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon.occurred; (g) The Bank On or before the proposed date of such Aggregate Advance, the Agent shall have received, received executed copies of one or more Hedge Agreements as required by Section 3.15 of the Indenture; (h) All fees due and payable under the Fee Letter (as defined in form and substance satisfactory to it, such other assurances, certificates, documents or consents related the Indenture) to the foregoing as Purchasers and the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and Agent as of the applicable date of such Aggregate Advance shall have been paid in full; (i) All fees and expenses due and payable pursuant to Section 7.01 hereof shall have been paid in full; and (j) Each of the applicable AdvanceTransaction Documents shall be in full force and effect.

Conditions Precedent to Advances. The obligation Notwithstanding any other provision of this Agreement, no proceeds of any Revolving Credit Loan under the Bank to honor any Request for Advance is subject to Loan Documents shall be disbursed hereunder unless the following conditions precedenthave been satisfied or waived immediately prior to such disbursement: (a) The representations and warranties on the part of the District Borrower contained in Article VI hereof IV (except with respect to Sections 4.1, 4.21 and 4.22) of this Agreement shall be true and correct on in all respects at and as of the date of disbursement or advance, as though made on and as of such Advance, date (except to the extent that such representations and warranties specifically refer expressly relate solely to an earlier date, in which case they shall be true and correct as of such earlier date, date and except that for purposes of this Section 7.02, the representations and warranties contained references in Section 6.07 hereof 4.7 to financial statements shall be deemed to refer be a reference to the then most recent annual and interim financial statements of Borrower furnished to Lender pursuant to Section 5.05(a) 6.1 hereof). (b) No Event of Default or event which, with the giving of notice of the lapse of time, or both, could become an Event of Default shall exist, have occurred and be continuing or would result from such proposed Advance or from the application making of the proceeds thereofdisbursement or advance. (c) The Bank No material adverse change in the condition (financial or otherwise), properties, business, or operations of Borrower taken as a whole shall have received a Request for Advance in accordance occurred and be continuing with respect to Borrower since the requirements date hereof. (d) After giving effect to any If the advance is an Accounts Receivable Advance, the aggregate principal amount of all Advances outstanding hereunder Subordination Agreement which shall not exceed the Available Commitment. (e) Such Advance shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect. (f) The Bank shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant be satisfactory to Section 7.01(c)[(ii)] hereof may no longer be relied upon. (g) The Bank Lender shall have received, in form been executed and substance satisfactory delivered to it, such other assurances, certificates, documents or consents related to the foregoing as the Bank reasonably may requireLender by Meditrust and Borrower. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and as of the date of the applicable Advance.44

Conditions Precedent to Advances. The obligation funding of the Bank to honor any Request for Aggregate Advance is under this Agreement shall be subject to the satisfaction, as of the applicable date of the Aggregate Advance, of each of the following conditions precedentconditions: (a) The All of the terms, covenants, agreements and conditions of the Transaction Documents, including Section 2.12 of the Indenture, required to be complied with and performed by each Transaction Party on or prior to the applicable date of such Aggregate Advance, shall have been complied with and performed; (b) Each of the representations and warranties of the District contained in Article VI hereof this Agreement, the Indenture and the other Transaction Documents made by each Transaction Party to such agreements shall be true and correct on and in all material respects as of the such date as though made as of such Advance, time (except to the extent that they expressly relate to an earlier time, then such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof.time); (c) The Bank representations and warranties set forth in Part II of each of the Schedule of Representations attached as Schedule II to the Contribution Agreement and the Schedule of Representations attached as Schedule III to the Sale and Servicing Agreement shall have received a Request for Advance in accordance be true and correct on the Cutoff Date with respect to the requirements hereof.Subsequent Receivables to be transferred on the proposed date of such Advance; (d) After No Event of Default, Servicer Event of Default, Default, or Termination Event shall have occurred and be continuing (both before and after giving effect to any such Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment.); (e) Such Advance Both before and immediately after giving effect to such Aggregate Advance, the Collateral Test Amount shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.be less than zero (0); (f) The Bank end of the Funding Period shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon.occurred; (g) The Bank On or before the proposed date of such Aggregate Advance, the Administrative Agent shall have received, received executed copies of one or more Hedge Agreements as required by Section 3.15 of the Indenture; (h) All fees due and payable under the Fee Letter (as defined in form and substance satisfactory to it, such other assurances, certificates, documents or consents related the Indenture) to the foregoing as Initial Purchasers and the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and Agent as of the applicable date of such Aggregate Advance shall have been paid in full; (i) All fees and expenses due and payable pursuant to Section 7.01 hereof shall have been paid in full; and (j) Each of the applicable AdvanceTransaction Documents shall be in full force and effect.

Conditions Precedent to Advances. The Bank shall have no obligation of to make any Advance until the Bank to honor any Request for Advance is subject to conditions set forth in the following conditions precedentsubparagraphs and elsewhere herein have been satisfied at the expense of Borrower, as determined by Bank in its sole and absolute discretion: (a) The representations Borrower shall have delivered to Bank, in form and warranties substance satisfactory to Bank, this Agreement, the Note, the Security Agreements and such other documents, instruments, financing statements, certificates and agreements as Bank may reasonably request; (b) If Borrower is a corporation or a partnership, Borrower shall have delivered to Bank, in form and substance satisfactory to Bank in its sole and absolute discretion certified copies of resolutions of Borrower's board of directors or partners, as the case may be, authorizing Borrower to execute, deliver, honor and perform the Loan Documents and to grant the security interest in the Property as provided in the Security Agreements and certifying the names and signatures of the District contained officers or partners, as the case may be, of Borrower authorized to sign the Loan Documents; (c) All of Bank's liens and security interests securing the Loan, shall have been validly perfected; (d) No material adverse change shall have occurred in Article VI hereof shall be true and correct on and as the business or financial condition of Borrower or any guarantor since the date of the latest financial statements given to Bank by on behalf of Borrower or such Advance, except to guarantor; (e) Each of the extent that such warranties and representations and warranties specifically refer to an earlier date, made by Borrower in which case they the Loan Documents shall be true and correct as of such earlier date, and except that for purposes the date of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof. (b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof. (c) The Bank shall have received a Request for Advance in accordance with the requirements hereof. (d) After giving effect to any each Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment. (e) Such Advance shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.; and (f) The Bank Borrower shall not have received notice (either verbal or written) from kept and performed the Districtvarious covenants, obligations and agreements on its part to be kept and performed under the Loan Documents and no Event of Default, or Bond Counsel that act or event which with the giving of notice or the passage of time, or both, would constitute an Event of Default hereunder or under any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon. (g) The Bank of the other Loan Documents, shall have received, in form occurred and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and as of the date of the applicable Advancecontinuing.