Common use of Conditions Precedent to the Loan Clause in Contracts

Conditions Precedent to the Loan. As a condition precedent to Lender making the Loan, the Borrower shall deliver to Lender on or before the date of the Loan closing, the following, in form and substance satisfactory to Lender: (a) The Note; (b) Mortgage and Security Agreement; (c) UCC-1 Financing Statements; (d) Evidence satisfactory to Lender of ownership of the Collateral by Borrower free and clear of encumbrances of any kind; (e) Guaranties from Mountain View Nursing, LLC and AdCare Health Systems, Inc. (collectively, the “Guarantor” or “Guarantors”); (f) Such other documents as reasonably may be required by the Lender or Lender’s counsel. The Loan documents as provided above (collectively, the “Loan Documents”), when prepared, shall set forth the matters contained in the Loan Agreement and contain such other provisions as are deemed necessary or desirable by Lender. The form and substance of all such documents must be satisfactory to Lender prior to disbursement by Lender of any of the proceeds of the Loan.

Conditions Precedent to the Loan. As a condition precedent to Lender making the Loan, the Borrower shall deliver to Lender on or before the date of the Loan closing, the following, in form and substance satisfactory to Lender: (a) The Note; (b) Mortgage and Security Agreement; (c) UCC-1 Financing Statements; (d) Evidence satisfactory to Lender of ownership of the Collateral by Borrower free and clear of encumbrances of any kind; (e) Guaranties Guaranty from Mountain View Nursing, LLC and AdCare Health Systems, Inc. (collectively, the “Guarantor” or “Guarantors”); (f) Such other documents as reasonably may be required by the Lender or Lender’s counsel. The Loan documents as provided above (collectively, the “Loan Documents”), when prepared, shall set forth the matters contained in the Loan Agreement and contain such other provisions as are deemed necessary or desirable by Lender. The form and substance of all such documents must be satisfactory to Lender prior to disbursement by Lender of any of the proceeds of the Loan.

Conditions Precedent to the Loan. As a condition precedent to Lender making the Loan, the Borrower shall deliver to Lender on or before the date of the Loan closing, the following, in form and substance satisfactory to Lender: (a) The Note; (b) Mortgage and Security Agreement; (c) UCC-1 Financing Statements; (d) Evidence satisfactory to Lender of ownership of the Collateral by Borrower free and clear of encumbrances of any kind; (e) Guaranties from Mountain View Homestead Nursing, LLC and (“Homestead Nursing”), AdCare Health Systems, Inc. and Xxxxxxxxxxx X. Xxxxxxx (collectively, the “Guarantor” or “Guarantors”); (f) Such other documents as reasonably may be required by the Lender or Lender’s counsel. The Loan documents as provided above (collectively, the “Loan Documents”), when prepared, shall set forth the matters contained in the Loan Agreement and contain such other provisions as are deemed necessary or desirable by Lender. The form and substance of all such documents must be satisfactory to Lender prior to disbursement by Lender of any of the proceeds of the Loan.

Conditions Precedent to the Loan. As a condition precedent to Lender making the Loan, the Borrower shall deliver to Lender on or before the date of the Loan closing, the following, in form and substance satisfactory to Lender: (a) The Note; (b) Mortgage Deed to Secure Debt and Security Agreement; (c) UCC-1 Financing Statements; (d) Evidence satisfactory to Lender of ownership of the Collateral by Borrower free and clear of encumbrances of any kind; (e) Guaranties Unconditional Corporate Guarantees from Mountain View Xxxx Nursing, LLC and AdCare Health Systems, Inc. (collectively, the “Guarantor” or “Guarantors”); (f) Such other documents as reasonably may be required by the Lender or Lender’s counsel. The Loan documents as provided above (collectively, the “Loan Documents”), when prepared, shall set forth the matters contained in the Loan Agreement and contain such other provisions as are deemed necessary or desirable by Lender. The form and substance of all such documents must be satisfactory to Lender prior to disbursement by Lender of any of the proceeds of the Loan.