Conditions to First Advance. All of the conditions precedent set forth in Section 4.1 have been satisfied.
Conditions to First Advance. The Lenders' obligations to make the first Advance shall be subject to compliance by the Borrower with its agreements contained in this Agreement, and to the condition precedent that the Lenders shall have received each of the following, in form and substance satisfactory to the Agent, Lenders and their counsel or in the form attached hereto as an Exhibit, as the case may be:
(a The Lender Agreements, including but not limited to the Guaranty Agreement and the Notes, duly executed by the Borrower.
(b Copies of the resolutions of the Board of Directors of the Borrower authorizing the execution, delivery and performance of this Agreement, the Notes and the other Lender Agreements to which the Borrower is a party, certified by the Secretary or an Assistant Secretary (or Clerk or Assistant Clerk) of the Borrower (which certificate shall state that such resolutions are in full force and effect).
(c A certificate of the Secretary or an Assistant Secretary (or Clerk or Assistant Clerk) of the Borrower certifying the name and signatures of the officers of the Borrower authorized to sign this Agreement, the Notes, the other Lender Agreements to which the Borrower is a party and the other documents to be delivered by the Borrower hereunder.
(d Certificates of legal existence and corporate good standing for the Borrower of recent date issued by the appropriate governmental authorities.
(e Certificate of tax good standing for the Borrower of recent date issued by the appropriate governmental authorities.
(f Certified copies of the Certificate of Incorporation of Borrower.
(g Copies of By-laws of the Borrower certified by the Secretary or Assistant Secretary (or Clerk or Assistant Clerk) to be a true and correct copy thereof.
(h The opinions of counsel to the Borrower, dated the date of execution of this Agreement, in substantially the form of Exhibit F hereto.
(i A certificate of a duly authorized officer of the Borrower, dated the date of the first Advance, to the effect that (i) all conditions precedent on the part of the Borrower to the execution and delivery hereof and the making of the first Advance has been satisfied, (ii) the representations and warranties of the Borrower herewith and in all other Lender Agreements are true and correct as of the date hereof, (iii) no material litigation affecting the Borrower or its Subsidiaries exists, (iv) the absence of any material adverse change in the business, operations, assets, financial condition or prospects of the B...
Conditions to First Advance. The obligation of the Frost Group to make the first Advance shall be subject to the Frost Group’s receipt of the following documents, each in form and substance reasonably satisfactory to the Frost Group:
(a) This Agreement. This Agreement duly executed by Borrower.
Conditions to First Advance. The Bank must receive the following items, in form and content acceptable to the Bank, before it is required to extend any credit to the Borrower under this Agreement:
Conditions to First Advance. Lxxxxx’s obligation to make the first advance under the Advance Type/Term Note is conditioned upon (i) all of the Loan Documents being executed by all parties thereto, (ii) Lender receiving proof of insurance coverage required by the Loan Documents and (iii) Borrower depositing no less than Fifteen Million Dollars ($15,000,000) into a Lxxxxxxx Bank Money Market Fund (the “LSB MM Fund”).
Conditions to First Advance. The first Advance is subject to the further conditions precedent that on the Drawing Date for that Advance:
13.3.1 the Borrower is a Subsidiary of the Parent;
13.3.2 no Default has occurred or would occur as a result of making the Advance; and
13.3.3 except as otherwise notified to the Facility Agent, each of the warranties mentioned in Clause 14.2 (AFTER SIGNING) and Section 7 of the Parent Guarantee remains accurate in all material respects at the Drawing Date as if given on that date by reference to the facts and circumstances then existing.
Conditions to First Advance. The obligation of Frost Gamma to make the first Advance shall be subject to Frost Gamma’s receipt of the following documents, each in form and substance satisfactory to Frost Gamma:
Conditions to First Advance. The Borrower agrees that the conditions listed below must be satisfied prior to the first advance under each respective Project Loan Commitment:
5.1. The Borrower shall deliver to the Lender:
(a) a written application for the Lender’s approval of a Project, which application shall be on a form approved by the Lender;
(b) a title insurance binder on current ALTA Form 70 applicable to the Project insuring the Lender’s security subject only to exceptions approved by the Lender. This binder shall be issued by a title insurance company approved by Lender, in the name of the Lender, and be in an amount equal to the principal amount of the Project Loan;
(c) if not previously delivered, a copy of the plans and specifications for the model of the Improvements being constructed for the Project;
(d) if not previously delivered, a copy of the recorded plat for the subdivision in which the Project is being constructed;
(e) evidence of public liability insurance required by the Deed of Trust during the Construction Period;
(f) a copy of the proposed Settlement Statement for the acquisition of the Property for the Project;
(g) a construction budget trade cost breakdown, fixed cost contract, and such other and reasonable detailed information concerning the components of the Construction Costs for each Project as may be required by the Lender for its approval;
(h) if the Project involves a pre-sale, a copy of the sales agreement for the sale of the Project;
(i) evidence satisfactory to Lender that the Improvements are not located within a HUD-identified flood hazard area;
(j) if requested by the Lender and not previously provided, an appraisal for type of model to be included in the Improvements; and
(k) such other documents and deliverables as reasonably required by the Lender, including, but not limited to those specified in the Loan Commitment and the applicable Project Loan Commitment.
5.2. The Supplemental Deed of Trust and all other documents reasonably required by the Lender shall be duly authorized, executed, acknowledged, recorded (when appropriate), and delivered to the Lender. If a Project is located in a North Carolina county that does not permit the use of a master deed of trust, the Borrower agrees to execute a separate deed of trust in favor of Lender (in a form approved by the Lender), in lieu of the Supplemental Deed of Trust, to secure the Note with respect to that Project.
5.3. In the event the Inspector and/or Lender determine that a Balancing Equity ex...
Conditions to First Advance. The obligation of Lenders to make the first Advance shall be subject to:
(a) Lenders’ receipt of the following documents, each in form and substance satisfactory to Lenders:
Conditions to First Advance. The obligation of Lender to make the first advance of the Loan is subject to the following:
(i) Lender shall have received and recorded or filed (as appropriate) executed copies of the Loan Documents.
(ii) Lender shall have determined that all conditions set forth in Lender's commitment for the Loan, dated June 3, 1998, have been satisfied; including, without limit, the payment of all required fees and expenses.
(iii) Lender shall have received such other documents, instruments and certificates as Lender deems necessary.
