Conditions to Initial Disbursement. The obligation of the Lenders to make the proceeds of the Loans available on the Closing Date shall be subject to the satisfaction (or written waiver) of the following conditions in a manner satisfactory to each Lender:
Conditions to Initial Disbursement. In addition to the conditions set forth in Section 5.3 above, City’s and Agency's obligation to make the initial Disbursement is subject to the following conditions precedent; provided, however, that in the event Borrower has not satisfied these conditions within sixty (60) days from the Agreement Date, unless otherwise specifically provided below, City and Agency may, in their sole discretion, declare this Agreement to be null and void:
(a) Borrower shall have delivered to City and Agency fully executed (and for documents to be recorded, fully acknowledged) originals of the following documents, in form and substance satisfactory to City and Agency: (i) the Construction Loan Documents; (ii) the Opinion; (iii) the Authorizing Resolutions; and (iv) any other documents reasonably requested by City and Agency;
(b) Borrower shall have delivered to City and Agency the Charter Documents;
(c) Borrower shall have delivered to City and Agency certificates of insurance to meet the requirements set forth in Section 12;
(d) Borrower shall have submitted to City and Agency a Phase I toxic report, or any other report reasonably requested by City and Agency, prepared by a professional hazardous materials consultant acceptable to City and Agency;
(e) Borrower shall have delivered to City and Agency evidence satisfactory to City and Agency that Borrower has obtained commitments for any additional financing for the Project that may be required by City and Agency, as determined by City and Agency in their sole discretion;
(f) The City Construction Deed of Trust and Agency Construction Deed of Trust shall have been recorded as valid Liens in the official records of the County Recorder of El Dorado County, California, subject only to the Permitted Exceptions;
(g) Borrower shall have signed and delivered to City and Agency the Certification Regarding Debarment, Suspension and Other Responsibility Matters as set forth in Exhibit M; and,
(h) Borrower shall have signed and delivered to City and Agency the Certification Regarding Lobbying as set forth in Exhibit N.
Conditions to Initial Disbursement. The obligation of Lender to make the initial disbursement of the Loan is subject to the satisfaction, in the discretion of Lender and of the Standby Purchaser, of the following conditions, subject to Section 2.2:
(a) The effective filing of the Registration Statement (as defined in the Standby Purchase Agreement);
(b) execution and delivery by Borrower and each Guarantor of each Loan Document to which such Person is a party;
(c) modification of the terms of the Senior Loan Documents on terms acceptable to Lender and the Standby Purchaser;
(d) receipt by Lender of a legal opinion from counsel to Borrower and the Guarantors with respect to the authorization, execution, delivery and enforceability of the Loan Documents and such other matters requested by Lender; and
(e) receipt by Lender of an Officer’s Certificate of Borrower and each Guarantor attaching (i) a certified copy of such Person’s certificate of formation or incorporation, (ii) a certificate of good standing in respect of such Person issued by its jurisdiction of formation and each jurisdiction in which it is registered to do business, (iii) a certified copy of such Person’s articles of incorporation and bylaws or limited liability operating agreement, (iv) an incumbency certificate with specimen signatures of the individuals who are authorized to execute the Loan Documents on behalf of such Person, (v) a certified copy of the resolutions adopted by the shareholders or members and/or directors or managers of such Person approving the execution, delivery and performance by such Person of the Loan Documents to which it is a Party.
Conditions to Initial Disbursement. Lender’s obligation to disburse the Total Acquisition Loan Commitment and a portion of the Total Project Loan Commitment on the Closing Date is subject to the satisfaction of each of the following conditions precedent on or before the Closing Date:
Conditions to Initial Disbursement. The City’s obligation hereunder to make the first Disbursement with respect to the Horizontal Infrastructure Improvements, the Vertical Infrastructure Improvements and Live! Component is conditioned upon the City’s receipt of the following, each in form and substance reasonably satisfactory to the City: Each of the Construction Documents with respect to such Component duly executed as necessary to be enforceable against the parties thereto, and Developer shall not be in material default under any of such Construction Documents beyond any applicable cure period. If improvements have been constructed, a satisfactory inspection report with respect to such Component from the Construction Inspector, which shall be delivered by Construction Inspector with the Disbursement Request - Public Costs. The Supporting Documentation. The Developer shall be in compliance with its obligations under this Agreement as to construction of the Project.
Conditions to Initial Disbursement. Lender’s obligation to make the Initial Disbursement is conditioned upon the completion, satisfaction and delivery of the following, all in form and substance satisfactory to Lender:
Conditions to Initial Disbursement. Lender's obligation hereunder to advance funds with respect to the Initial Disbursement to Borrower is conditioned upon Borrower's delivery to Lender of each of the following, in such form and substance as is satisfactory to Lender in its sole discretion:
(a) A duly executed Note and all other Loan Documents as may be reasonably required by Lender;
(b) Evidence satisfactory to Lender that Borrower is organized and in good standing in the State of Delaware and is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction where the nature of its business requires such qualification;
Conditions to Initial Disbursement. As conditions precedent to the initial Disbursement hereunder, the following documents and evidence shall have been received by the Lender:
(a) In relation to the Borrower :
Conditions to Initial Disbursement. As conditions precedent to the initial Disbursement hereunder (i) All of the Commitment Fee and Management Fee and any other amount which are due as of the date of the initial Disbursement shall have been paid in full and (ii) the following documents, instruments and evidence shall have been received by the Lender, in form and substance satisfactory to the Lender:
Conditions to Initial Disbursement. Prior to making the initial Disbursement of Program Funds under this Agreement the Effective Date of this Agreement shall have occurred and each of the additional conditions, if any, to making such initial Disbursement set forth in the applicable Scope of Work shall have been satisfied.
