USDA Conditional Commitment and USDA Guarantees Sample Clauses

USDA Conditional Commitment and USDA Guarantees. (i) USDA shall have issued the USDA Guarantees in form and of substance satisfactory to Lender providing coverage for both the Construction Phase and Term Phase of the Loan; and (ii) Borrower shall have satisfied all conditions precedent and all terms, conditions, covenants and requirements under the USDA Conditional Commitment to the satisfaction of Lender and the USDA