Common use of Subsequent Advances Clause in Contracts

Subsequent Advances. Each Loan after the first Loan (hereinafter, a "Subsequent Advance") shall be subject to the condition precedent that all conditions to funding of the first Loan were satisfied or waived on the Closing Date and to the further satisfaction of each of the following conditions precedent, unless specifically waived in writing by Agent at or prior to the time of each such Subsequent Advance:

Appears in 2 contracts

Samples: Acquisition Loan Agreement (Chartermac), Loan Agreement (Charter Municipal Mortgage Acceptance Co)

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Subsequent Advances. Each Loan Advance after the first Loan Advance (hereinafter, a "Subsequent Advance") shall be subject to the condition precedent that all conditions to closing of the Loan and funding of the first Loan were Advance continue to be satisfied or waived on the Closing Date and to the further satisfaction of each of the following conditions precedent, unless specifically waived in writing by Agent Lender at or prior to the time of each such Subsequent Advance:.

Appears in 1 contract

Samples: Construction Loan Agreement (American Retirement Corp)

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Subsequent Advances. Each Loan after the first Loan (hereinafter, a "Subsequent Advance") shall be subject to the condition precedent that all conditions to funding of the first Loan were satisfied or waived on the Closing Date and to the further satisfaction of each of the following conditions precedent, unless specifically waived in writing by Agent (with the consent of the Requisite Lenders or all of the Lenders, as may be applicable) at or prior to the time of each such Subsequent Advance:"

Appears in 1 contract

Samples: Acquisition Loan Agreement (Chartermac)

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