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Draw Requests Sample Clauses

Draw Requests. (a) So long as no Default shall exist and subject to all other terms, covenants, conditions and agreements of this Agreement, Lender shall make Advances for Improvements pursuant to the Budget, to the extent that funds are available for those purposes and so long as Borrower has paid for any and all costs in excess of the amount to be funded pursuant to Advances of the Loan in accordance with the Budget, subject to the other terms, covenants, conditions and agreements of this Agreement. Advances for Improvements shall be made not more frequently than monthly based on draw requests signed by an Authorized Signer in the form of Schedule 3 or in another form approved by Lender. If required by Lender, a draw request for Improvements shall be set forth on AIA Forms G702 and G703 or another form approved by Lender, and shall be accompanied by (i) evidence satisfactory to Lender that the Improvements or such portion of them for which Loan proceeds are being requested have been completed in a good and workmanlike manner (including, if required by Lender, site access to Lender and a Construction Consultant specified by Lender for the purpose of making a property), (ii) invoices, receipts or other evidence satisfactory to Lender verifying the costs for which Loan proceeds are being requested, (iii) if required by Lender, affidavits, and/or releases from all parties who furnished materials and/or services in connection with the requested payment. (b) Each draw request and each receipt of the funds requested thereby shall constitute an affirmation that (i) the work completed to the date of the draw request is of quality and in all other respects consistent with the tenant improvement plans and specifications, and (ii) if applicable, construction of the Improvements is proceeding in accordance with the Budget and Project Schedule.
Draw Requests. As a condition to each draw request or other request for an advance hereunder and each receipt of the funds requested thereby, Borrower’s representations and warranties set forth in this Agreement shall be true and correct as of the date of the draw request or other request for an advance and, unless Lender is notified to the contrary prior to the disbursement of the advance requested, will be so on the date of the disbursement.
Draw Requests. (a) Prior to an Advance, Borrower shall provide to Fund Control Agent and Lender each of the items listed in the Fund Control Agreement, together with any additional items reasonably requested by Lender or Fund Control Agent to analyze and administer the request (collectively, the “Draw Package”). Neither Lender nor Fund Control Agent shall be required to (i) honor a request for an Advance from a new Authorized Borrower Representative until it shall have received written notice thereof from Borrower (but may honor any such request for an Advance in its sole discretion), or (ii) be liable to Borrower for honoring any request for an Advance requested by an Authorized Borrower Representative until its actual receipt of written notice from Borrower that such Authorized Borrower Representative is no longer authorized to make such requests. (b) Each request for an Advance shall be deemed a certification by Borrower that, as of the date of such request, (i) all of each Loan Party’s representations and warranties herein and in the other Loan Documents are true, complete and correct; (ii) the Loan Parties are in compliance with all of their respective covenants, duties and obligations under this Agreement and under the Loan Documents; (iii) such Advance is being used solely for the purposes set forth in Section 2.6.4 and relates to work actually performed, and materials and equipment actually incorporated into, the Improvements, (iv) there is no event of condition that, with the passing of time, notice, or both, is or would be an Event of Default, (v) the Draw Package is true, complete, and accurate, and (vi) any such Advance shall be secured by the Collateral, provided that Lender or Fund Control Agent may, in Lender’s sole discretion, honor any such request for an Advance notwithstanding Borrower’s breach of any of the foregoing, and the making of any such Advance shall not be deemed a waiver or consent to such breach.
Draw Requests. Concurrently with a Draw Request for any Advance of Loan proceeds (other than Advances that, pursuant to this Agreement, may be made without a Draw Request), Borrower shall furnish to Lender a Draw Request together with such other forms and Schedules Of values as may from time to time be approved or required by Lender, duly signed and sworn to by Borrower, with all blanks appropriately filled in.
Draw RequestsIn accordance with the provisions in this Section, the Lenders will make Advances to the Borrower from time to time on any Business Day on and after the Closing Date until and including the last Business Day before the Maturity Date in such amounts as the Borrower may request in accordance with this Section 2.1, up to the Commitment Limit, and the Borrower may make borrowings, repayments and reborrowings in respect thereof. Each Advance (whether a LIBO Rate Advance or a Base Rate Advance) shall be in a minimum amount of $250,000.00 and integral multiples of $250,000.00 in excess of that minimum amount. Requests for Advances in substantially the form of Exhibit C (or other writing acceptable to the Agent) must be made by written notice from the Borrower sent to the Agent by mail, courier or facsimile in accordance with Section 10.1, specifying the amount of the Advance, subject to Section 2.12. A request shall be fully authorized by the Borrower if made by any one of Xxxxx Xxxxxxx or Xxx Xxxxxxxxx Xx. or other individual designated by the Borrower as an authorized person in accordance with resolutions of the Board of Directors of the Borrower certified to the Agent. The Agent and the Lenders may rely fully and completely upon the authority of the signatory of such request or confirmation unless such authority is terminated by written notice to the Agent, and any such termination shall be effective only prospectively. The request for any Advance by the Borrower shall constitute a certification by the Borrower that all of the representations and warranties contained in Article 4 (other than those representations and warranties, if any, that are by their specific terms limited in application to a specific date) are true and correct as of the date of such request and also as of the date of the Advance.
Draw RequestsBorrower shall submit to Agent and the Construction Consultant a Draw Request (substantially in the forms attached hereto as SCHEDULES II through IX) ("BORROWER'S REQUISITION") not less than eight (8) Business Days prior to the date upon which a disbursement of the Loan is requested (the "BORROWING DATE") and no more frequently than once in each calendar month (except as otherwise expressly provided in Section 2.10.
Draw Requests. At least three (3) days prior to each Loan disbursement by Bank, Borrower must submit to Bank a Request for Disbursement on a form acceptable to Bank, which shall include:
Draw Requests. Concurrently with a Draw Request for any Advance of Loan proceeds (other than Advances that, pursuant to this Agreement, may be made without a Draw Request), Borrower shall furnish to Lender a Draw Request together with an updated Borrowing Base Certificate and such other forms and schedules of values as may from time to time be approved or reasonably required by Lender, duly signed and sworn to by Borrower, with all blanks appropriately filled in. Borrower shall be entitled to submit no more than two (2) Draw Requests for each Calendar Month.
Draw RequestsFunds for Project will be available following execution of this Agreement and City’s receipt of Recipient’s completed W-9 form. To obtain Funds, Recipient shall submit a written draw request to the Grant Administrator. Each draw request may be for up to $5,000 of the Funds allocated for Project. Upon the Grant Administrator’s verification of progress toward Project goals and/or completion; review of quotes, receipts, and other required documentation; and site visit(s), as appropriate, the Grant Administrator will forward to the City Finance Department a request that the City remit a check to Recipient in the requested amount.
Draw RequestsBorrower shall submit copies of all Draw Requests to the Lenders at the same time. The form of the Draw Request that Borrower shall use is the form required by the Senior Lender, together with THDA required certifications and other items as THDA may request. ; provided, however, if the Senior Lender does not have a draw request form or if the Senior Lender’s form is reasonably unacceptable to THDA, Borrower shall use the most recent forms posted to the THDA website at xxx.xxxx.xxx attached to this Agreement as Exhibit D for draws of Assistance Funds. on the [TCAP/Section 1602] Loan. All Draw Requests shall be accompanied by all required supporting invoices and documentation, which may include, without limitation, invoices, affidavits, certificates, and inspection reports. To the extent necessary or reasonable, the Lenders shall cooperate in reviewing the Draw Requests submitted to them, and Borrower shall promptly provide them with any additional information or documentation they may request.