Qualification of Finished Sample Clauses

Qualification of Finished. Lot Projects as Eligible Collateral. Borrower may, from time to time, request the Agent to approve a Finished Lot Project as Eligible Collateral; provided, however, that the Agent will not consider or approve any new Finished Lot Projects during the Term Out Period. Agent is also under no obligation to accept into Eligible Collateral any Finished Lot Project proposed by Borrower more frequently than twice in each Calendar Month. When requesting consideration of a new Finished Lot Project, Borrower, at Borrower's sole cost and expense, shall deliver to the Agent each of the following items, unless otherwise directed by all of the Banks. However, with respect to items specified as only being required if requested by the Agent, the Agent may determine in its discretion as to whether or not to require such items, and Borrower shall only be required to provide such items if so requested. Borrower, at Borrower's sole cost and expense, shall also satisfy the following conditions precedent, unless otherwise waived by all of the Banks. Each of the items required by this Section must be satisfactory to the Agent in its sole and absolute discretion and each of the conditions precedent required to be satisfied pursuant to this Section must be satisfied, as determined by the Agent in its sole and absolute discretion, at all times that such Finished Lot Project is included in Eligible Collateral:
Sample 1
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Related to Qualification of Finished

  • Qualification and Number Each Trustee shall be a natural person. A Trustee need not be a citizen of the United States or a resident of the State of Delaware. By a majority vote or consent of the Trustees as may then be in office, the Trustees may from time to time establish the number of Trustees. No decrease in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term, but the number of Trustees may be decreased in conjunction with the resignation, retirement or removal of a Trustee pursuant to Section 5.4 hereof.

  • Qualification to Do Business Each of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation, limited liability company or partnership (as the case may be) and is in good standing or similar concept in every jurisdiction in which the character of the properties owned or leased by it or the nature of the business conducted by it makes such qualification necessary, except where the failure to be so qualified or in good standing would not, individually or in the aggregate, have a Company Material Adverse Effect.

  • Qualification of Servicer The Servicer is duly incorporated, validly existing and in good standing under the laws of the state of its incorporation and is duly qualified to do business and is in good standing under the laws of each jurisdiction that requires such qualification wherein it owns or leases any material properties, or in which it conducts any material business or in which the performance of its duties under this Agreement would require such qualification, except where the failure to so qualify would not have a material adverse effect on (a) the Servicer's performance of its obligations under this Agreement, (b) the value or marketability of the Mortgage Loans, or (c) the ability to foreclose on the related Mortgaged Properties.

  • Qualification of Certain Plans Each Plan that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has received a favorable determination letter from the IRS that it is so qualified and each trust established in connection with any Plan which is intended to be exempt from federal income taxation under Section 501(a) of the Code has received a determination letter from the IRS that it is so exempt and no fact or event has occurred since the date of such determination letter from the IRS to adversely affect the qualified status of any such Plan or the exempt status of any such trust. Each trust maintained or contributed to by the Company or any Subsidiary which is intended to be qualified as a voluntary employees' beneficiary association and which is intended to be exempt from federal income taxation under Section 501(c)(9) of the Code has received a favorable determination letter from the IRS that it is so qualified and so exempt and no fact or event has occurred since the date of such determination by the IRS to adversely affect such qualified or exempt status.

  • Qualification; Compliance 50 (d) Liabilities . . . . . . . . . . . . . . . . . . . . 50 (e) Welfare Plans . . . . . . . . . . . . . . . . . . . 50 (f) Documents made Available . . . . . . . . . . . . . 51 (g) Payments Resulting from Merger . . . . . . . . . . 51 (h) Labor Agreements . . . . . . . . . . . . . . . . . 52 Section 6.11

  • Disqualification of S-1 Until the earlier of seven years from the date hereof or until the Warrants have either expired and are no longer exercisable or have all been exercised, the Company will not take any action or actions that prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the shares of Common Stock issuable upon exercise of the Warrants under the Act.

  • Disqualification of Form S-1 For a period equal to seven (7) years from the date hereof, the Company will not take any action or actions which may prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the Warrants under the Act.

  • Qualification of Shares The Company will arrange, if necessary, for the qualification of the Shares for sale under the laws of such jurisdictions as the Manager may designate and will maintain such qualifications in effect so long as required for the distribution of the Shares; provided that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the offering or sale of the Shares, in any jurisdiction where it is not now so subject.

  • Qualification and Good Standing Each Loan Party is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had and will not have a Material Adverse Effect.

  • Qualification and Taxation as a REIT The Company will use its best efforts to qualify for taxation as a REIT under the Code for its taxable year ending December 31, 2016 and thereafter, unless the Board determines that it is no longer in the best interests of the Company to continue to qualify as REIT.

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