Loan and Loan Documents. On or before February 17, 2015 with respect to the Loans secured by the CLP Leased Properties only and March 2, 2015 with respect to all other Loans, Buyer shall request each Lender’s consent to the assumption of the Loans and Loan Documents by Buyer at Closing, the release of Sellers from all obligations that arise following Closing, and all other matters necessary to consummate the transactions contemplated by this Agreement; provided, however, with respect to the Grand Victorian Washington Property, no such applications shall be required to be submitted unless and until OSF Healthcare System declines to, or is deemed to have so declined by way of its failure to timely notify CLP Washington IL Owner, LLC of its election to, exercise its right to purchase the Grand Victorian Washington Property pursuant to the Existing Purchase Option. Thereafter, Buyer shall use diligent, good faith and commercially reasonable efforts to obtain such consents as soon as reasonably practicable. Sellers shall use good faith, commercially reasonable efforts to cooperate with and assist Buyer in obtaining such consents upon Buyer’s request, and Sellers shall provide to Buyer on or before February 10, 2015, all information required of each Seller from such Lender in connection with requesting such consents or if requested thereafter, promptly upon request. If Buyer has not obtained any such consents on or before the Closing Date (as the same may be extended pursuant to Section 5.1), then Buyer shall be deemed to have elected to have the Loan and Loan Documents satisfied and released at Closing, and Buyer shall promptly notify Sellers of same, in which case Sellers shall promptly provide prepayment notices for the Loans for which such consents have not been obtained in accordance with the terms of the applicable Loan Documents (with a copy to Buyer) to permit such Loan and Loan Documents to be satisfied and released at Closing and the terms of Section 5.4(b)(iii) and Section 6.1 shall otherwise apply with respect to such satisfaction and release. In no event shall the consent of a Lender to the assignment of the Loan to Buyer be one of Buyer’s Conditions Precedent.
Loan and Loan Documents. 4.1 Agreement to Borrow and Lend; Lender’s
Loan and Loan Documents. 13 4.1 Agreement to Borrow and Lend; Lender's Obligation to Disburse. 13 4.2 Loan Documents. 14 4.3 Term of the Loan. 15 4.4
Loan and Loan Documents. The consideration for this Agreement consists of the Secured Party’s agreement to make the Loan and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Pledgor. At the date hereof, the “Loan Documents” are this Agreement, that certain Loan Agreement dated as of October 31, 2017 between Pledgor, as borrower, and Secured Party, as lender (as amended from time to time, the “Loan Agreement”), that certain Line of Credit Note dated as of October 31, 2017 from Pledgor, as borrower, to Secured Party, as payee. The “Loan Documents” shall also be deemed to include all present and future documents and instruments relating to the Obligations executed by Borrower, by Pledgor, by Bank, and/or by any other Person, together with all amendments, modifications, extensions, and/or other changes thereto at any time and from time to time. Any violation of this Agreement shall constitute an Event of Default; and any Default or Event of Default shall be a default hereunder.
Loan and Loan Documents. Mortgagor has received a copy of and is fully familiar with the terms and provisions of the Credit Agreement and the other Loan Documents. All representations and warranties made by Mortgagor in the Credit Agreement and the other Loan Documents are incorporated herein by reference and are hereby made by Mortgagor as to itself and the Mortgaged Property as though such representations and warranties were set forth at length herein as the representations and warranties of Mortgagor.
Loan and Loan Documents. Agreement to Borrow and Lend; Lender's Obligation to Disburse........11 4.2
Loan and Loan Documents. Schedule 8.2.1 contains an accurate description of the mortgage loan encumbering the Property (the "Loan") and there are no other loans or liens encumbering the Property. There is no current default or breach under the terms and provisions of any of the Loan Documents; the Loan Documents have not been, and will not be, amended or modified except as consented to by GVI; and no acceleration events have occurred relative to the Loan Documents.
Loan and Loan Documents. 22
4.1 Agreement to Borrow and Lend; Lender’s Obligation to Disburse 22 4.2 Loan Documents 23 4.3 Term of the Loan 24 4.4 Prepayments 24 4.5 Required Principal Payments 25 4.6 Late Charge 25 4.7 Funds for Payment 25 ARTICLE 5 INTEREST 26 5.1 Interest Rate 26 5.2 [Intentionally Omitted.] 28
Loan and Loan Documents. AGREEMENT TO BORROW AND LEND; LENDER'S OBLIGATION TO DISBURSE........................................15 4.2
Loan and Loan Documents. 4. 1Agreement to Borrow and Lend; Lender’s Obligation to Disburse. Subject to the terms, provisions and conditions of this Agreement and the other Loan Documents, Borrower agrees to borrow from Lender and Lender agrees to lend to Borrower the Loan, for the purposes and subject to all of the terms, provisions and conditions contained in this Agreement.
(a) The maximum aggregate amount of the Loan shall not exceed $5,000,000.00, subject to the Additional Advances set forth under Section 4.1(c) below.
(b) Lender agrees, upon Borrower’s compliance with and satisfaction of all conditions precedent, no Material Adverse Change has occurred with respect to Borrower, Guarantor, or the Project and no default or Event of Default has occurred and is continuing hereunder, to Open the Loan to provide $5,000,000.00 in funds toward acquisition of the Project (inclusive of closing costs).
(c) Borrower may make a one-time request for an additional Loan advance of up to $10,762,500.00 (the “Additional Advance”), for a maximum aggregate Loan amount of $15,762,500.00. The Additional Advance shall be subject to the following terms and conditions:
(i) Borrower shall provide written notice to Bank requesting the Additional Advance no later than August 31, 2021.
(ii) Shall pay a loan fee of 50 basis points on the amount of the Additional Advance.
