Common use of Approval of Documents Prior to Advance Clause in Contracts

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's counsel), at least fifteen (15) Business Days prior to the date of each Advance, and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.5. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent Lender (with copies to AgentLender's counsel), at least fifteen (15) Business Days prior to the date of each such Advance), and Agent Lender has reviewed and approved, at least five (5) Business Days prior to the date of each Advancesuch date, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.5. Agent Lender shall have the right to review and approve any changes to the form of any of the Submissions. If Agent Lender disapproves of any changes to any of the Submissions, Agent Lender shall have the right to require Borrower either to cure or correct the defect objected to by Agent Lender or to elect on behalf of Lenders not to fund the Loan or any AdvanceAdvance with respect to any such Interval. Under no circumstances shall AgentLender's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of AgentLender. Agent Lender shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent Lender believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent Lender and include the following language: "THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent Lender (with copies to AgentLender's counsel), at least fifteen (15) Business Days prior to the date of each Advance, and Agent Lender has reviewed and approved, at least five (5) Business Days prior to the date of each Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.5. Agent Lender shall have the right to review and approve any changes to the form of any of the Submissions. If Agent Lender disapproves of any changes to any of the Submissions, Agent Lender shall have the right to require Borrower either to cure or correct the defect objected to by Agent Lender or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall AgentLender's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of AgentLender. Agent Lender shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent Lender believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent Lender and include the following language: "THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."

Approval of Documents Prior to Advance. Except as otherwise waived in writing by TFC in its sole and absolute discretion, Borrower has delivered or caused to be delivered to Agent TFC (with copies to AgentTFC's counsel), at least fifteen (15) Business Days prior to the date of each such Advance, and Agent TFC has reviewed and approved, at least five (5) Business Days prior to the date of each such Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.5. Agent TFC shall have the right to review and approve any changes to the form of any of the Submissions. If Agent TFC disapproves of any changes to any of the Submissions, Agent TFC shall have the right to require Borrower either to cure or correct the defect objected to by Agent TFC or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall AgentTFC's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of AgentTFC. Agent TFC shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent TFC believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent TFC and include the following language: "THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTSBLUEGREEN VACATIONS UNLIMITED, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's ’s counsel), at least fifteen (15) Business Days prior to the date of each such Advance, and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advancesuch date, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.4. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's ’s failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's ’s sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION LIBERTY BANK, AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's ’s counsel), at least fifteen (15) Business Days prior to the date of each Advance, and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.4. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's ’s failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's ’s sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent Lender (with copies to Agent's Lender’s counsel), at least fifteen (15) Business Days prior to the date of each Advance, and Agent Lender has reviewed and approved, at least five (5) Business Days prior to the date of each Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.4. Agent Lender shall have the right to review and approve any changes to the form of any of the Submissions. If Agent Lender disapproves of any changes to any of the Submissions, Agent Lender shall have the right to require Borrower either to cure or correct the defect objected to by Agent or Lender and to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's Lender’s failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's ’s sole cost and expense, unless expressly stated to be an obligation and expense of AgentLender. Agent Lender shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent Lender believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent Lender and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's counsel), at least fifteen (15) Business Days prior to the date of each such Advance, and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advancesuch date, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.4. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION WXXXX FARGO CAPITAL FINANCE, LLC, AS AGENT FOR EACH LENDER LENDER, IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's ’s counsel), at least fifteen (15) Business Days prior to the date of each such Advance), and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advancesuch date, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.5. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any AdvanceAdvance with respect to any such Interval. Under no circumstances shall Agent's ’s failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's ’s sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION XXXXX FARGO FOOTHILL, INC., AS AGENT FOR EACH LENDER LENDER, IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent Lender (with copies to AgentLender's counsel), at least fifteen (15) Business Days prior to the date of each Advance, and Agent Lender has reviewed and approved, at least five (5) Business Days prior to the date of each Advance, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.6. Agent Lender shall have the right to review and approve any changes to the form of any of the Submissions. If Agent Lender disapproves of any changes to any of the Submissions, Agent Lender shall have the right to require Borrower either to cure or correct the defect objected to by Agent Lender or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall AgentLender's failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's sole cost and expense, unless expressly stated to be an obligation and expense of AgentLender. Agent Lender shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent Lender believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent Lender and include the following language: "THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."

Approval of Documents Prior to Advance. Borrower has delivered or caused to be delivered to Agent (with copies to Agent's ’s counsel), at least fifteen (15) Business Days prior to the date of each such Advance, and Agent has reviewed and approved, at least five (5) Business Days prior to the date of each Advancesuch date, the form and content of all of the items specified in each of the Submissions required pursuant to this Section 4.54.4. Agent shall have the right to review and approve any changes to the form of any of the Submissions. If Agent disapproves of any changes to any of the Submissions, Agent shall have the right to require Borrower either to cure or correct the defect objected to by Agent or to elect on behalf of Lenders not to fund the Loan or any Advance. Under no circumstances shall Agent's ’s failure to approve or disapprove a change to any of the Submissions be deemed to be an approval of such Submissions. All of the Submissions were and shall be prepared at Borrower's ’s sole cost and expense, unless expressly stated to be an obligation and expense of Agent. Agent shall have the right of prior approval of any Preparer and may disapprove any Preparer in its sole discretion, for any reason, including without limitation, that Agent believes that the experience, skill, reputation or other aspect of the Preparer is unsatisfactory in any respect. All Submissions required pursuant to this Agreement shall be addressed to Agent and include the following language: "“THE UNDERSIGNED ACKNOWLEDGES THAT TEXTRON FINANCIAL CORPORATION XXXXX FARGO FOOTHILL, INC., AS AGENT FOR EACH LENDER IS RELYING ON THE WITHIN INFORMATION IN CONNECTION WITH ITS DETERMINATION TO MAKE A LOAN TO SILVERLEAF RESORTS, INC. IN CONNECTION WITH THE SUBJECT COLLATERAL."”