CONDITIONS TO THE FIRST ADVANCE. The obligations of any Lender to make the initial Revolving Credit Loans and of the Fronting Bank to issue any initial Letters of Credit (and to maintain the existing outstanding Loans and Letters of Credit) shall be subject to the satisfaction of the following conditions precedent on or prior to the Closing Date with, in each instance, the Agent, acting on behalf of the Lenders, having approved in its sole discretion each matter submitted to it in compliance with such conditions:
CONDITIONS TO THE FIRST ADVANCE. As conditions precedent to the first advance hereunder, if and to the extent required by Administrative Agent, to Administrative Agent’s satisfaction in its good faith business judgment, Borrower must have satisfied the conditions required under this Agreement, including all of those conditions set forth in Exhibit “C” and Section 4 below.
CONDITIONS TO THE FIRST ADVANCE. The obligations of any Lender to make the Term Loan (and to maintain the existing outstanding Term Loan) shall be subject to the satisfaction of the following conditions precedent on or prior to the Closing Date with, in each instance, the Agent, acting on behalf of the Lenders, having approved in its sole discretion each matter submitted to it in compliance with such conditions:
CONDITIONS TO THE FIRST ADVANCE. The following requirements must be satisfied as conditions to the first Advance:
CONDITIONS TO THE FIRST ADVANCE. As a condition precedent to the first Advance hereunder (the "First Advance"), Borrower must satisfy the conditions required hereby and set forth elsewhere in this Agreement and deliver to Lender, the documents, certificates, and other items that are set forth below:
(a) The Origination Fee;
(b) The Loan Documents duly executed and in recordable form by Borrower and, other parties thereto, if applicable;
(c) The irrevocable commitment of the Title Company to issue the Title Policy in the normal course of business after the payment of the premiums for such policy;
(d) The survey of the Property, dated April 1, 2003 and last updated on December 10, 2004, and issued by Xxxxxx & Xxxxxxx, Inc., a copy of which has previously been delivered to Lender, and a certification to the benefit of Lender and the Title Company by a duly registered land surveyor or engineer reasonably acceptable to Lender;
(e) The Assignment of Contracts together with the consent of the Architect and Contractor and any other such party to the assignment thereof;
(f) The insurance policies or certificates of such insurance policies as specified in Section 4.13 herein;
(g) A list of the names and addresses of all parties to Major Contracts, together with, if requested by Lender, true and correct copies of all executed contracts and subcontracts;
(h) The Financial Statements;
(i) All governmental permits and approvals necessary or appropriate to complete development and construction of the Project which have been issued as of the date hereof, all of which are to be assigned to Lender as additional security for the Loan, in such manner as shall be acceptable to Lender's legal counsel;
(j) Estoppel Certificate and SNDA in form and substance reasonably acceptable to Lender, from the MOB Tenant;
(k) Evidence that all approvals required under the zoning and property use laws and ordinances applicable to the Property (including any necessary rezoning or other changes in the property use classifications of the Property) and all approvals required under State and local Property subdivision laws and ordinances to acquire the Property in compliance with such laws and ordinances have been obtained and have been or will be complied with;
(l) Evidence that tap permits or "connections" for water and sanitary sewer service to the Property have been obtained or requested;
(m) Evidence that all of the streets providing access to the Property either have been dedicated to public use or established by private e...
CONDITIONS TO THE FIRST ADVANCE. As conditions precedent to the first Advance, Borrower must satisfy the conditions required hereby and execute and deliver to, procure for and deposit with, and pay to Lender, and if appropriate record in the proper records with all filing and recording fees paid, the documents, certificates, and other items referred to in EXHIBIT B, together with such other documents, certificates and items as Lender may reasonably require from time to time. Except as otherwise specifically provided herein or agreed in writing by Lender, all such documents, certificates and other items shall bear a Current Date.
CONDITIONS TO THE FIRST ADVANCE. As conditions precedent to the first advance hereunder, Borrower must have satisfied the conditions required under this Agreement, including all of those conditions set forth in Exhibit “C” and Section 4 below.
CONDITIONS TO THE FIRST ADVANCE. As conditions precedent to the first advance hereunder: (a) there shall then exist no Default or any event which, with the giving of notice or the lapse of time, or both, could become a Default; (b) the representations and warranties made in the Loan Documents shall be true and correct; (c) each contract to be made by Borrower for any labor, materials, services and/or other work for or in connection with construction of the Improvements shall have been duly executed and delivered by all parties thereto and shall be fully effective, and Lender shall have received a true, complete executed original counterpart of each such contract;
CONDITIONS TO THE FIRST ADVANCE. The obligation of Citizens to make the first Advance is subject to the fulfillment of the following conditions:
CONDITIONS TO THE FIRST ADVANCE. The obligation of Bank to make the first Advance is subject to the fulfillment of the following conditions:
