Examples of Subsequent Advance Closing Date in a sentence
The Debt Service Coverage Ratio --------------------------- projected for the twelve (12) month period immediately following the Subsequent Advance Closing Date and calculated using an interest rate of 9.25% shall be no less than 1.40.
All payments, deposits or escrows required to be made or established by Borrower under this Agreement, the Note and the other Loan Documents on or before the Subsequent Advance Closing Date with respect to such Subsequent Advance shall have been paid or shall be paid or established from the proceeds of such Subsequent Advance simultaneously with the closing of such Subsequent Advance.
The applicable Individual Borrower or Additional Borrower shall have taken or caused to be taken such actions in such a manner so that lender has a valid and perfected Lien of the requisite priority as of the Subsequent Advance Closing Date with respect to each Mortgage encumbering an Additional Property to be delivered in connection with such Subsequent Advance, subject only to applicable Permitted Encumbrances and such other Liens as are permitted pursuant to the Loan Documents.
Borrower shall, on any Subsequent Advance Closing Date, receive the related Subsequent Advance, subject to the direction given by Borrower as to the application of the proceeds of the Loan to pay certain closing costs and to fund the Tax and Insurance Escrow Fund and any other reserve or escrow fund required hereunder.
Borrower shall, on any Subsequent Advance Closing Date, receive the related Subsequent Advance, subject to the direction given by Borrower as to the application of Loan proceeds to pay certain closing costs and to fund the Tax and Insurance Escrow Fund in accordance with the provisions of this Agreement.
The obligation of Lender to make any Subsequent Advance hereunder is subject to the fulfillment by Borrower or waiver by Lender of the following conditions precedent no later than the Subsequent Advance Closing Date with respect to such Subsequent Advance or such other date as set forth below: (a) Subsequent Advance Request.
Each Subsequent Advance Request shall, among other things, set forth the proposed Subsequent Advance Closing Date with respect to the Subsequent Advance requested, which Subsequent Advance Closing Date shall be a Business Day and shall be no less than five (5) days subsequent to the date on which the Subsequent Advance Request is received by Lender.
All payments, deposits or escrows required to be made or established by Additional Borrower under this Agreement, the Note and the other Loan Documents on or before the Subsequent Advance Closing Date with respect to such Subsequent Advance shall have been paid or shall be paid simultaneously with the closing of such Subsequent Advance.
Borrower shall, on any Subsequent Advance Closing Date, receive the related Subsequent Advance, subject to the direction given by Borrower as to the application of the proceeds of such Subsequent Advance, which may include payment of certain Closing Costs and to fund the Tax and Insurance Escrow Fund and any other reserve or escrow fund required hereunder.
Borrower shall deliver to Lender copies of such policies of insurance no later than fifteen (15) days after the Subsequent Advance Closing Date with respect to such Subsequent Advance, which policies shall be satisfactory to Lender in its sole discretion.