Simultaneous Closing Transactions Sample Clauses

Simultaneous Closing Transactions. On the Financing Closing Date or on the First Refinancing Date, as applicable, the following transactions were consummated simultaneously: (a) The Original Agreement, the Original Ground Lease, the Original Agency Agreement, the Original Declaration of Trust, the Original Lease, the Original Certificates, the Original Interim Notes, the Original A-Notes, the Original B-Notes, the State Street Guaranty, the State Street Guaranty Confirmation, the Original Instrument Guaranty, the Instrument Guaranty Confirmation, the Bills of Sale, the Original Services Agreement, the Original VCMI Note, the Original VCMI Loan Agreement and the Original VCMI Mortgage were executed and delivered by the parties thereto. (b) On the Financing Closing Date, each of the Note Purchasers made an initial advance (each, an "Initial Advance") equal to its Percentage of the difference of: Actual Project Costs incurred by the Trustee on or before the Financing Closing Date in its acquisition of the Property minus the amount of the Initial Investments and each of the Certificate Purchasers made an initial investment (each, an "Initial Investment") each in accordance with the applicable provisions of Section 1.04. (c) On the Financing Closing Date, the Trustee loaned to VCMI the aggregate proceeds of the Initial Investments and the Initial Advances. Such loan was made under the Original VCMI Loan Agreement pursuant to which (i) the Trustee directed the Agent to transfer all moneys received by the Agent from the Advances and the Investment to an account held by the Agent in the name of VCMI and (ii) VCMI directed the Agent to disburse such funds in accordance with the Requisitions and the other Operative Documents. (d) On the Financing Closing Date, the Agent, on behalf of VCMI, paid or disbursed the aggregate sum of the Initial Investment and the Initial Advance to the Company,