Common use of Conditions to Obligation of Servicer to Establish Loan Commitments Clause in Contracts

Conditions to Obligation of Servicer to Establish Loan Commitments. Servicer’s obligation to establish each Loan Commitment under the Operative Documents is subject to the fulfillment of the following conditions as of the Closing Date of such Loan: (i) this Agreement and each of the other Operative Documents shall be in full force and effect; (ii) the representations and warranties of the Sponsor contained in Article V shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the Closing Date of such Loan; (iii) the Servicer shall have received from the Sponsor a Funding Approval Notice authorizing such Loan Commitment and a Store Opening Information Sheet; (iv) all conditions precedent to the Loan Commitment specified in the Servicing Agreement, together with such additional conditions precedent as may, at Sponsor’s election, be included in the applicable Funding Approval Notice, shall have been completed to the Servicer’s reasonable satisfaction; and (v) no Credit Event, Unmatured Credit Event, Change of Control or Wind-Down Event shall have occurred and be continuing.

Conditions to Obligation of Servicer to Establish Loan Commitments. Servicer’s obligation to establish each Loan Commitment under the Operative Documents is subject to the fulfillment of the following conditions as of the Closing Date of such Loan: (i) this Agreement and each of the other Operative Documents shall be in full force and effect; (ii) the representations and warranties of the Sponsor contained in Article V 5 shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the Closing Date of such Loan; (iii) the Servicer shall have received from the Sponsor a Funding Approval Notice authorizing such Loan Commitment and a Store Opening Information Sheet; (iv) all conditions precedent to the Loan Commitment specified in the Servicing Agreement, together with such additional conditions precedent as may, at Sponsor’s election, be included in the applicable Funding Approval Notice, shall have been completed to the Servicer’s reasonable satisfaction; and (v) no Credit Event, Unmatured Credit Event, Change of Control or Wind-Down Event shall have occurred and be continuing.

Conditions to Obligation of Servicer to Establish Loan Commitments. Servicer’s 's obligation to establish each Loan Commitment under the Operative Documents is subject to the fulfillment of the following conditions as of the Closing Date of such Loan: (i) this Agreement and each of the other Operative Documents shall be in full force and effect; (ii) the representations and warranties of the Sponsor contained in Article V 5 shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the Closing Date of such Loan; (iii) the Servicer shall have received from the Sponsor a Funding Approval Notice authorizing such Loan Commitment and a Store Opening Information Sheet; (iv) all conditions precedent to the Loan Commitment specified in the Servicing Agreement, together with such additional conditions precedent as may, at Sponsor’s 's election, be included in the applicable Funding Approval Notice, shall have been completed to the Servicer’s 's reasonable satisfaction; and (v) no Credit Event, Unmatured Credit Event, Change of Control or Wind-Down Event shall have occurred and be continuing.