Conditions Precedent to Future Advances. The obligation of the Lender to make a requested Future Advance is subject to the following conditions precedent:
(a) The receipt by the Lender of a Future Advance Request;
(b) The Lender has delivered the Rate Setting Form for the Future Advance to the Borrower;
(c) After giving effect to the requested Future Advance, the Coverage and LTV Tests will be satisfied;
(d) If the Advance is a Base Facility Advance, delivery of a Base Facility Note, duly executed by the Borrower, in the amount of the Advance, reflecting all of the terms of the Base Facility Advance;
(e) If the Advance is a Revolving Advance, delivery of the Advance Confirmation Instrument, duly executed by the Borrower;
(f) For any Title Insurance Policy not containing a Revolving Credit Endorsement, the receipt by the Lender of an endorsement to the Title Insurance Policy, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date and other exceptions approved by the Lender;
(g) If the Advance is a Revolving Advance, the receipt by the Lender of the first installment of Revolving Facility Fee for the Revolving Advance and the entire Discount for the Revolving Advance payable by the Borrower pursuant to Section 2.04;
(h) The receipt by the Lender of all legal fees and expenses payable by the Borrower in connection with the Future Advance pursuant to Section 16.04(b); and
(i) The satisfaction of all applicable General Conditions set forth in Article XI.
Conditions Precedent to Future Advances. Lenders will not be obligated to make any further Advances, and this instrument shall not become effective, unless and until Agent receives (a) counterparts of this instrument executed by Borrower, each Guarantor and each Lender, and (b) such other items related to the transactions contemplated by this instrument as Agent may reasonably request.
Conditions Precedent to Future Advances. Advance is subject to the satisfaction of the following conditions precedent:
Conditions Precedent to Future Advances. Lender shall not be obligated to make any Future Advance until the following conditions shall have been satisfied:
(a) Lender shall have received a request for the advance of proceeds delivered in accordance with Section 2.04 hereof;
(b) All conditions of Section 4.01 shall be satisfied as of the date of such Future Advance with respect to (i) the Premises mortgaged by the applicable Mortgagor to secure such Future Advance as indicated on SCHEDULE III and (ii) the applicable Mortgagor;
(c) There shall exist no Event of Default, and no Event of Default would result from the making of the advance;
(d) The Premises mortgaged to secure such Future Advance shall not have been materially injured or damaged by fire or other casualty after the date of the applicable Appraisal and on or before the date of the Future Advance;
(e) Receipt by Lender of evidence of the submission for recordation of the Mortgages securing the applicable Future Advance as indicated on SCHEDULE III and payment of all applicable recording taxes and fees in connection therewith;
(f) No trustee, receiver or liquidator of the Premises mortgaged under the applicable Mortgage to secure such Future Advance or any part thereof, or of the applicable Mortgagor shall have been appointed by order of any court of competent jurisdiction;
(g) The Mortgagor executing any Mortgage securing such Future Advance shall not have filed a petition in bankruptcy or for an arrangement or for reorganization pursuant to the Bankruptcy Code or any similar federal or state law relating to bankruptcy, insolvency or other relief for debtors unless such petition shall have been discharged, stayed or dismissed as of the date of such Future Advance;
(h) The Mortgagor executing any Mortgage securing such Future Advance shall not (1) by decree of a court of competent jurisdiction, have been adjudicated bankrupt or declared insolvent, (2) have made an assignment for the benefit of creditors which has not been discharged, (3) have admitted in writing its inability to pay its debts generally as they become due, or (4) have consented to the appointment of a receiver or receivers of all or any part of its property; and
(i) No creditors of the Mortgagor executing any Mortgage securing such Future Advance shall have filed a petition in bankruptcy against such Mortgagor or for reorganization of such Mortgagor pursuant to the Bankruptcy Code or any similar federal or state law relating to bankruptcy, insolvency or other relief for de...
Conditions Precedent to Future Advances. The obligation of Lender under this Agreement to make any advances under the Revolving Note after the date of this Agreement, in accordance with the terms and provisions of Section 3 of this Agreement, are subject to the full and complete satisfaction of each of the following conditions precedent as of the date of such advance or payment:
(a) The representations and warranties set forth in Section 5 of this Agreement shall be true and correct as of the date of the making of such advance or payment with the effect as though the representation or warranty had been made on this date;
(b) No Default or Event of Default shall have occurred and be continuing, or will result from, the making of such advance; and
(c) All conditions set forth in Section 2.1 shall be then fully and completely satisfied (including, without limitation, any condition precedent waived, in whole or in part, by Lender in connection with the initial advance or any subsequent advance), and all terms and provisions of Section 3 of this Agreement shall then be fully and completely satisfied.
Conditions Precedent to Future Advances. The obligation of Lender to --------------------------------------- make any Advance after the initial Advance hereunder is subject to the performance by Borrower of its Obligations to be performed hereunder at or prior to the disbursement of such Advance and to the satisfaction of the following conditions at the time of (and after giving effect to) the making of such Advance:
Conditions Precedent to Future Advances. Lender's obligation to make any advance under this Loan Agreement and the other Loan Documents shall be, in addition to the conditions precedent set forth in paragraph 10 hereof, subject to the additional conditions precedent that, as of the date of such advance and after giving effect thereto, (a) all representations and warranties made to Lender by Borrower in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date; (b) no material adverse change in Borrower's financial condition since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing; and (c) Lender has received a request for advance from Borrower, such request to be in a form acceptable to Lender, provided, Lender may advance under this Loan Agreement upon or at the verbal request of Xxx Xxxxxx, Xxxxxxx Xxxxxxx, M.D., or Xxxxxx Xxxxx, M.D. to be confirmed in writing.
Conditions Precedent to Future Advances. The obligation of Bank to make any Advance to Borrower after the date of this Agreement shall be subject to the conditions precedent that on or before the date of such Advance:
(a) Borrower shall have paid all fees, costs, expenses, and taxes then payable by Borrower pursuant to Section 2(c) of this Agreement;
(b) The representations and warranties contained in Section 4 of this Agreement and in each document, instrument, agreement, and certificate delivered to Bank by Borrower pursuant to this Agreement shall be true and correct on and as of such date as if made on and as of such date; no Event of Default or event or condition that, with the serving of notice or the lapse of time or both, would constitute an Event of Default shall have occurred and be continuing or would result from the making of such Advance; and Bank shall have received, if requested by Bank, a certificate of the chief executive officer or the chief financial officer of Borrower, dated as of the date of such Advance, to such effect (in the absence of Bank's request for such a certificate, Borrower's borrowing of the Advance shall itself constitute a representation to Bank to such effect);
(c) The making of such Advance shall not contravene any law, rule or regulation applicable to Bank;
(d) Not later than 2:00 p.m., Cleveland time, on such date, Bank shall have received, in writing or by telephone to be promptly confirmed in writing, a request by Borrower to Bank for an Advance in the requested amount, and a Borrower's Certificate;
(e) Borrower shall have delivered to Bank an opinion of counsel substantially in the form attached hereto as Exhibit D.
(f) Bank shall have received such other approvals, opinions, appraisals, or documents as it may reasonably request.
Conditions Precedent to Future Advances. The obligation of Lender under this Agreement to make any advances after the date of this Agreement, in accordance with the terms and provisions of Section 3 of this Agreement, are subject to the full and complete satisfaction of each of the following conditions precedent as of the date of such advance or payment:
(a) Prior to the first advance under the Revolving Note after the date hereof, payment of all title premiums for the issuance of a mortgagee's title policy, insuring the liens granted in the Deed of Trust and satisfying the requirements of Exhibit "C" (and in any event containing a revolving note endorsement), and in the amount of the Committed Revolving Loan Sum;
(b) The representations and warranties set forth in Section 4 of this Agreement shall be true and correct as of the date of the making of such advance or payment with the effect as though the representation or warranty had been made on this date;
(c) No Default or Event of Default shall have occurred and be continuing, or will result from, the making of such advance; and
(d) All conditions set forth in Section 2.1 shall be then fully and completely satisfied (including, without limitation, any condition precedent waived, in whole or in part, by Lender in connection with the initial advance or any subsequent advance), and all terms and provisions of Section 3 of this Agreement shall then be fully and completely satisfied.
Conditions Precedent to Future Advances. The ----------------------------------------- obligation of the Lender to make Future Advances is subject to the following conditions precedent:
(a) With respect to any Future Advances (other than Rollover Advances), after giving effect to the requested Future Advance, the Aggregate Debt Service Coverage Ratio for the Advances Outstanding for the Trailing 12 Month Period is not less than 150%;
