Common use of Responsible Officer Certificate Clause in Contracts

Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s option, also signed by Borrower’s project architect or engineer if the cost of a single Reserve Item or the aggregate amount of the Request exceeds $25,000), which certifies that: (i) All information stated in the Request is true and correct in all material respects, each attachment to the Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof), if the Reserve Item to be funded is a Leasing Commission; (iv) Subject to Section 5.03, each party that supplied materials, labor or services has been paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Resource Real Estate Opportunity REIT, Inc.)

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Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s option, also signed by Borrower’s project architect or engineer engineer, which may be an employee of an Affiliate of Borower, if the cost of a single Reserve Item or the aggregate amount of the Disbursement Request exceeds $25,00050,000), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, Law and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower, if the Reserve Item to be funded is a Leasing Commission; (iv) Subject to Section 5.03, each party that supplied materials, labor or services has been paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are either (A) on-site at the Property and properly secured or have been installed in the PropertyProperty or (B) materials that Lender determines are not a significant portion of the cost of the work upon which disbursement is requested.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s option, also signed by Borrower’s project architect or engineer if the cost of a single Reserve Item or the aggregate amount of the Disbursement Request exceeds $25,000), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was or is to be performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof), if the Reserve Item to be funded is a Leasing Commission; (iv) Subject to Section 5.03, each party that supplied materials, labor or services has been or with the Disbursement will be paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (viv) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Independence Realty Trust, Inc)

Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s 's option, also signed by Borrower’s 's project architect or engineer if the cost of a single Reserve Item or the aggregate amount of the Disbursement Request exceeds $25,00050,000.00), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower, if the Reserve Item to be funded is a Leasing Commission; (iv) Subject to Section 5.03, each party that supplied materials, labor or services has been paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust V, Inc.)

Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s option, also signed by Borrower’s project architect or engineer if the cost of a single Reserve Item or the aggregate amount of the Disbursement Request exceeds $25,000), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)) ; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof), if the Reserve Item to be funded is a Leasing CommissionIntentionally Omitted; (iv) Subject to Section 5.03, each party that supplied materials, labor or services has been paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Angeles Income Properties LTD Ii)

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Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s 's option, also signed by Borrower’s 's project architect or engineer if the cost of a single Reserve Item or the aggregate aggregated amount of the Disbursement Request exceeds $25,00050,000), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower, if the Reserve Item to be funded is a Leasing Commission;. (iv) Subject to Section 5.03, each party Party that supplied materials, labor or services has been paid in full (for the portion for which disbursement is in sought in the case of disbursements authorized in accordance with Section 5.01(b5.01 (b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Corporate Property Associates 16 Global Inc)

Responsible Officer Certificate. Lender must receive a certificate, signed by a Responsible Officer of Borrower (and, at Lender’s 's option, also signed by Borrower’s 's project architect or engineer if the cost of a single Reserve Item or the aggregate amount of the Disbursement Request exceeds $25,00050,000.00), which certifies that: (i) All information stated in the Disbursement Request is true and correct in all material respects, each attachment to the Disbursement Request is correct and complete, and if the attachment is a copy of the original, that it is a true and an accurate reproduction of the original; (ii) Each of the Reserve Items or Note B Advance items to be funded in connection with the Disbursement Request was performed in a good and workmanlike manner and in accordance with all Requirements of Law, and has been paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower; (iii) The Leasing Commission has been fully and unconditionally earned and paid in full by Borrower (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof)Borrower, if the Reserve Item to be funded is a Leasing Commission; (iv) Subject to Section 5.03, each party pmiy that supplied materials, labor or services has been paid in full (for the portion for which disbursement is sought in the case of disbursements authorized in accordance with Section 5.01(b) hereof); and (v) In the case of disbursements authorized in accordance with Section 5.01(b) hereof, the materials for which the request are made are on-site at the Property and properly secured or have been installed in the Property.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust V, Inc.)

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