Final Disbursements Sample Clauses

Final Disbursements. Upon completion and satisfaction of all conditions for disbursements for any Repairs and Restoration, and further provided no Event of Default has occurred and is continuing, Lender shall disburse to Borrower any amounts then remaining in the Repairs Escrow Account or the Restoration Reserve Account, as applicable. Upon payment in full of the Indebtedness and release by Lender of the lien of the Security Instrument, Lender shall disburse to Borrower any and all amounts then remaining in the Reserve/Escrow Accounts (if not previously released). Approvals of Contracts; Assignment of Claims. Lender retains the right to approve all contracts or work orders with materialmen, mechanics, suppliers, subcontractors, contractors, or other parties providing labor or materials in connection with the Replacements, Repairs, or Restoration. Notwithstanding Borrower’s assignment (in the Security Instrument) of its rights and claims against all Persons supplying labor or materials in connection with the Replacements, Repairs, or Restoration, Lender will not pursue any such right or claim unless an Event of Default has occurred and is continuing or as otherwise provided in Section 14.3(mmmmmm).

Final Disbursements. Upon payment in full of the Indebtedness and release by ▇▇▇▇▇▇ of the lien of the Security Instrument, Lender shall disburse to Borrower any and all amounts then remaining in the CapEx Escrow Account (if not previously released).

Final Disbursements. Each Requisition for a Final Disbursement from the Project Fund shall be accompanied by the following items for the Individual Property with respect to which such Final Disbursement is requested: (i) a final certificate of occupancy for the Improvements on such Individual Property, together with any other evidence that all work has been approved and inspected by all Governmental Authorities having jurisdiction; (ii) a final completion "as-built" survey of such Individual Property showing the dimensions of the plot and the dimensions and location of the Improvements, parking spaces, easements, if any, streets on which such Individual Property fronts, and distance to and name of nearest intersecting streets, prepared and sealed by the licensed surveyor referred to in subsection 7(c)(ii) or any other licensed surveyor satisfactory to the Agent, which survey shall be certified to the Owner, the Agent, the Title Company and counsel to each of them; (iii) a title insurance policy issued by the Title Company insuring that the Applicable Mortgage is a first lien on such Individual Property, subject only to Permitted Encumbrances, securing an amount equal to the aggregate principal amount disbursed from the Project Fund for or with respect to such Individual Property; (iv) as built" Applicable Plans and Specifications, certified by the architect for the Applicable Project, together with a certificate from such architect stating that the Improvements and Off-Site Improvements have been constructed in accordance with the Applicable Plans and Specifications and all Legal Requirements; (v) a certificate from the appraiser who prepared the appraisal submitted pursuant to subparagraph 6(b) hereof, dated as of the Applicable Completion Date and addressed to the Owner and the Agent, which confirms the conclusions reached in such appraisal with respect to the fair market value of such Individual Property on and as of the Applicable Completion Date and on and as of the Expiration Date. (vi) a certificate signed by an Authorized Representative of the Company confirmed by the Agent stating that, as of the Applicable Completion Date, except for amounts retained by the Trustee at the Company's direction for any Cost of the Projects not then due and payable or if due and payable not then paid, (A) the Applicable Project has been completed, and (B) all labor, services, materials and supplies used in the Applicable Project have been paid for.

Final Disbursements. Upon completion of all Repairs in accordance with this Loan Agreement and so long as no Event of Default has occurred and is continuing, Lender shall disburse to IDOT Guarantor any amounts then remaining in the Repairs Escrow Account. Upon payment in full of the Indebtedness and release by Lender of the lien of the Security Instrument, Lender shall disburse to IDOT Guarantor any and all amounts then remaining in the Replacement Reserve Account and the Repairs Escrow Account (if not previously released). Approvals of Contracts; Assignment of Claims. Lender retains the right to approve all contracts or work orders with materialmen, mechanics, suppliers, subcontractors, contractors, or other parties providing labor or materials in connection with the Replacements or Repairs. Notwithstanding IDOT Guarantor’s assignment (in the Security Instrument) of its rights and claims against all Persons supplying labor or materials in connection with the Replacement or Repairs, Lender will not pursue any such right or claim unless an Event of Default has occurred and is continuing or as otherwise provided in Section 14.3(nnnnnn).

Final Disbursements. Upon completion and satisfaction of all conditions for disbursements for any Repairs and Restoration, and further provided no Event of Default has occurred and is continuing, Lender shall disburse to Borrower any amounts then remaining in the Repairs Escrow Account or the Restoration Reserve Account, as applicable. Upon payment in full of the Indebtedness and release by ▇▇▇▇▇▇ of the lien of the Security Instrument, Lender shall disburse to Borrower any and all amounts then remaining in the Reserve/Escrow Accounts (if not previously released). Approvals of Contracts; Assignment of Claims. Lender retains the right to approve all contracts or work orders with materialmen, mechanics, suppliers, subcontractors, contractors, or other parties providing labor or materials in connection with the Replacements, Repairs, or Restoration. Notwithstanding Borrower’s assignment in the Security Instrument (or Master ▇▇▇▇▇▇’s assignment pursuant to the [INSERT FOR NON-SHARIA AND NON-HTC TRANSACTIONS: SASA] [INSERT FOR SHARIA AND HTC TRANSACTIONS: Master Lease Documents]) of its rights and claims against all Persons supplying labor or materials in connection with the Replacements, Repairs, or Restoration, Lender will not pursue any such right or claim unless an Event of Default has occurred and is continuing or as otherwise provided in Section 14.03(c).

Final Disbursements. Without limiting Holdings' other rights under this Agreement, the parties agree that the Escrow Amount shall be maintained pursuant to the terms of the Escrow Agreement for a period of 28 months after the Closing Date (the "Expiration Date"), in order to support the Sellers' indemnification obligations under Section 11. 1. The parties also agree that an arbitrator, pursuant to the dispute resolution process contained in Section 12.7, shall have the right to direct the Escrow Agent to disburse the Escrow Amount, or any portion thereof, to Holdings as such arbitrator deems appropriate in order to satisfy the indemnification obligations of the Sellers under Section 11.1. Within five (5) business days after the Expiration Date, the parties agree to send a joint written instruction to the Escrow Agent directing the Escrow Agent to disburse to the Sellers the remaining amount of the Escrow Amount, if any; provided, however, the Escrow Amount shall not be disbursed to the Sellers prior to the Expiration Date and no portion of the Escrow Amount shall be disbursed to the Sellers after the Expiration Date if Holdings has asserted prior to the Expiration Date a claim for indemnification pursuant to Section 11.1 which has not been resolved pursuant to Section 12.7.

Final Disbursements. Upon the satisfaction in full of all amounts owed by Company under the Note Documents, Administrative Agent shall have all amounts remaining in the Debt Service Reserve Account disbursed to Company.

Final Disbursements