Requirements for Subsequent Disbursement Sample Clauses

Requirements for Subsequent Disbursement. Borrower covenants and agrees to immediately, and without expense to Xxxxxx, satisfy the following additional requirements prior to the Subsequent Disbursement: 3.2.1 Deliver to Lender an ALTA Loan Policy of Title Insurance (the “Title Policy”) issued by Title Company to Lender, in an amount no less than the Loan Amount with respect to the Mortgage and insuring that the Mortgage is a valid first lien on the Mortgaged Property and subject only to exceptions specifically approved in writing by Xxxxxx. 3.2.2 Deliver to Lender and Title Company a certified ALTA/NSPS Land Title Survey of the Mortgaged Property prepared by a licensed surveyor at Borrower’s expense in such form and substance acceptable to Lender in its sole and absolute discretion. 3.2.3 Deliver to Lender a zoning letter issued by the applicable municipal authority in which the Mortgaged Property is located that certifies that the Mortgaged Property complies, and its intended use will comply with all zoning, use, and building laws, regulations, rules or ordinances. 3.2.4 No uncured Event of Default hereunder or event which would constitute such an Event of Default but for the requirement that notice be given or time elapse shall have occurred and be continuing, and all representations and warranties made by Borrower, Guarantor and Third-Party Mortgagor, as applicable, in this Agreement and the Loan Documents shall continue to be true and correct. 3.2.5 Deliver to Lender a certificate or policy for the required property and casualty insurance for the Mortgaged Property. 3.2.6 Deliver to Lender such assurances that any other loans or mortgages, rights of reversion, leases or other encumbrances for any portion of any collateral pledged by Borrower to Lender shall be subordinate to the Loan The making of any advance or disbursement prior to the satisfaction of any requirement hereof shall not be construed as a waiver of such requirement, and Lender reserves the right to require the satisfaction of any and all such conditions prior to making any subsequent advance or disbursement. 6 4.
Sample 1
AutoNDA by SimpleDocs

Related to Requirements for Subsequent Disbursement

  • Termination for Convenience TIPS may, by written notice to Vendor, terminate this Agreement for convenience, in whole or in part, at any time by giving thirty (30) days’ written notice to Vendor of such termination, and specifying the effective date thereof.

  • GRIEVANCE PROCEDURE 7.01 For purposes of this Agreement, a grievance is defined as a difference arising between the parties relating to the interpretation, application, administration or alleged violation of the Agreement including any question as to whether a matter is arbitrable.

  • Scope of Services The specific scope of work for each job shall be determined in advance and in writing between TIPS Member, Member’s design professionals and Vendor. It is permitted for the TIPS Member to provide a general scope description, but the awarded vendor should provide a written scope of work, and if applicable, according to the TIPS Member’s design Professional as part of the proposal. Once the scope of the job is agreed to, the TIPS Member will issue a PO and/or an Agreement or Contract with the Job Order Contract Proposal referenced or as an attachment along with bond and any other special provisions agreed by the TIPS Member. If special terms and conditions other than those covered within this solicitation and awarded Agreements are required, they will be attached to the PO and/or an Agreement or Contract and shall take precedence over those in this base TIPS Vendor Agreement.

  • Compliance Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

  • Reporting At least annually and more frequently as mutually agreed between the parties, the Delegate shall provide to the Board written reports specifying placement of the Fund's Assets with each Eligible Foreign Custodian selected by the Delegate pursuant to Section 3 of this Delegation Schedule and shall promptly report on any material changes to such foreign custody arrangements. Delegate will prepare such a report with respect to any Eligible Foreign Custodian that the Delegate has been instructed to use pursuant to Section 7 of this Delegation Schedule only to the extent specifically agreed with respect to the particular situation.

  • HEALTH AND SAFETY 16.01 The Employer, Union and the employees shall comply with the provisions of the Occupational Health and Safety Act where and when applicable. The Employer shall provide working conditions at all times which are not prejudicial to the health or efficiency of the workers. Employees are required to report to their Employer any unsafe work conditions, or violation of any safe work policies or procedures established by the Employer, or any violation of relevant safe work legislation.

  • Compliance with Laws Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.

  • Taxes The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.

  • Miscellaneous Provisions Section 11.01

  • Representations and Warranties Borrower represents and warrants as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.