Conditions Precedent to Disbursements. The following shall be conditions precedent to each payment made to Tenant by Depository if required in Section 8.03 above:
(a) Subject to the provisions of Section 8.04, Section 8.05 and, if applicable, Section 8.06, Depository shall pay over to Tenant from time to time, upon the following terms, any monies which may be received by Depository from insurance provided by Tenant (other than rent insurance) or cash or the proceeds of any security deposited with Depository pursuant to Section 8.06 (collectively, the “Restoration Funds”); provided however, that Depository, before paying such monies over to Tenant, shall be entitled to reimburse itself and the FCRHA therefrom to the extent, if any, of the necessary, reasonable and proper expenses (including, but not limited to, reasonable attorneys’ fees) paid or incurred by Depository and the FCRHA in the collection of such monies. Depository shall pay to Tenant, as hereinafter provided, the Restoration Funds, for the purpose of the Restoration.
(b) Prior to commencing any Restoration, Tenant shall furnish the FCRHA with an estimate of the cost of such Restoration, prepared by an Architect. The FCRHA, at the FCRHA’s reasonable expense, without reimbursement from Tenant, may engage a licensed professional engineer or registered architect to prepare its own estimate of the cost of such Restoration. If there is any dispute as to the estimated cost of the Restoration, such dispute shall be resolved by dispute resolution in accordance with the provisions of Article 34, and any time required to resolve such dispute shall constitute an Unavoidable Delay in the Restoration process.
(c) Subject to the provisions of Section 8.04, Section 8.05 and, if applicable, Section 8.06, the Restoration Funds shall be paid to Tenant in installments as the Restoration progresses, upon application to be submitted by Tenant to Depository and the FCRHA showing the cost of labor and materials purchased and delivered to the Premises for incorporation in the Restoration, or incorporated therein since the last previous application, and due and payable or paid by Tenant. If any vendor’s, mechanic’s, laborer’s, or materialman’s lien is filed against the Premises or any part thereof, or if any public improvement lien relating to the Restoration of the Premises is created or permitted to be created by Tenant and is filed against the FCRHA, or any assets of, or funds appropriated to, the FCRHA, Tenant shall not be entitled to receive any further...
Conditions Precedent to Disbursements. Following the First Disbursement
Conditions Precedent to Disbursements. Xxxxxxx’s obligation to disburse Grant moneys to Grantee pursuant to Section 2.03 is subject to satisfaction, with respect to each disbursement, of each of the following conditions precedent:
(a) Grantee shall hold and maintain registration as a legal entity with the Oregon Secretary of State prior to, and throughout, the duration of the Grant;
(b) Sufficient moneys to make the disbursement are available in the Water Supply Development Account from the issuance of the Lottery Revenue Bonds authorized by Oregon Laws 2023, chapter 599, section 10 (the “Bonds”);
(c) Grantor has received sufficient funding, appropriations limitations, allotments, or other expenditure authorizations to allow Grantor, in the reasonable exercise of its administrative discretion, to make the disbursement;
(d) Xxxxxxx’s representations and warranties set forth in Section 4 are true and correct on the date of disbursement with the same effect as though made on the date of disbursement;
(e) Grantee is in compliance with all reporting requirements of this Agreement identified in Exhibit A;
(f) Grantee has submitted to the Grantor, the required permits and regulatory approvals listed in Exhibit E “Permits and Regulatory Approvals” or as are otherwise required for the Project. As required by ORS 541.692(1), the Grantor may identify additional permits or regulatory approvals that must be submitted to the Grantor prior to release of funds for the Project. This statute gives the Grantor discretion in identifying additional permits or regulatory approvals required for the Project not previously identified by the Grantee. Grantor also has the discretion to condition its release of funds based on specific circumstances of the Project. Grantee should review Exhibit A Conditions of Agreement for any related conditions with respect to permitting, regulatory approvals and disbursement of Grant moneys;
(g) For Project tasks that take place on private land(s), Xxxxxxx has submitted to the Grantor:
1) Evidence that landowner(s) are aware of and agree to the task. Evidence shall include, but is not limited to: (i) landowner(s) certification that the landowner owns the land where the work will be carried out, and (ii) landowner’s agreement to allow Grantee to carry out the work, or a portion of the work on the Landowner’s property; or
2) Evidence documenting legal easement on all lands where the work will be carried out. Evidence shall include, but is not limited to: (i) documentation of easement, and...
Conditions Precedent to Disbursements. The Holder's obligation to make each Disbursement shall be subject to the conditions precedent that on such date:
(a) all representations and warranties contained in paragraph 8 hereof and in Section 3 of the Debenture Purchase & Security Agreement shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date of making such Disbursement;
(b) no Event of Default (as defined below) and no event or condition which, with the notice or passage of time or both, would constitute an Event of Default, shall exist or have occurred and be continuing on and as of the date of making such Disbursement and after giving effect thereto;
(c) there exists no default in any payment with respect to any Senior Indebtedness (as that term is defined in Section 11 of the Debenture Purchase & Security Agreement) and there shall not have occurred an event of default with respect to any Senior Indebtedness, as defined in the instrument under which the same is outstanding, permitting the holders thereof to accelerate the maturity thereof, other than an event of default which shall have been cured or waived or shall have ceased to exist;
(d) no material adverse change shall have occurred in the assets, business or prospects of the Company since the date hereof, and no change or event shall have occurred that would impair the ability of the Company to perform its obligations hereunder. In the event that any one of the conditions set forth above is not satisfied at the time the Company makes a written request for a Disbursement pursuant to paragraph 1, this Debenture shall be deemed in default and the Holder shall not be obligated to make any further Disbursement hereunder.
Conditions Precedent to Disbursements. 37 Section 4.1 Conditions Precedent to Initial Closing........................37 Section 4.2 Conditions Precedent to Subsequent Loans.......................41 Section 4.3 Conditions Precedent to Subsequent Lending under the Term B Loan....................................................41
Conditions Precedent to Disbursements. 3.1.1 Lender’s obligation to make the initial disbursement under the Loan Documents shall be subject to satisfaction of following conditions precedent by not later than the date hereof:
Conditions Precedent to Disbursements. A. Disbursement of Grant funds shall be subject to satisfaction of the following conditions precedent:
(1) approval by the Department of the work activities covered by such contracts, the cost of such work activities, and the amount of the Grant monies to be disbursed;
(2) approval by the Department of all previously performed work with respect to which Xxxxx monies have already been disbursed to Grantee; and
Conditions Precedent to Disbursements. As a condition to its obligation to make the disbursements of funds hereunder, the Owner shall submit any documentation the Agency may reasonably require in a manner specified by the Agency.
Conditions Precedent to Disbursements. 19 Section 4.1
Conditions Precedent to Disbursements. Lender’s obligation to make any disbursement of any Advance, other that the Initial Advance, shall be subject to satisfaction of the following conditions precedent, unless any such conditioned is waived by Lender in its sole discretion:
(a) Borrower shall not have rescinded this Agreement pursuant to Section 4.8 hereof;
(b) the Plans shall have been approved in all respects by Xxxxxx, and there have been no changes to such Plans which have not been previously approved by the Lender;
