Conditions Precedent to Each Loan Disbursement Sample Clauses

Conditions Precedent to Each Loan Disbursement. The obligation of Lender to make any disbursements under this Loan Agreement shall be subject to the following conditions precedent:
Sample 1Sample 2
AutoNDA by SimpleDocs
Conditions Precedent to Each Loan Disbursement. The obligation of Lender to make any disbursements pursuant to the terms of this Agreement will be subject to the following conditions precedent: No Event of Default or Potential Default will have occurred and be continuing. No determination will have been made by Lender that the amount of undisbursed Loan Proceeds is less than the amount required to pay all expenses in connection with the Completion of the Improvements, including, but not limited to, any extra Work, unless Borrower will have deposited with Lender an amount at least equal to the amount of the deficiency as determined by Lender in accordance with Section 4.3. Borrower will have furnished to Lender evidence satisfactory to Lender of payment of bills and releases of lien rights covering Work done or Materials furnished in connection with the Work showing the expenditure of an amount equal to the total advance at the time disbursed, including the then requested payment. Borrower will have furnished to Lender at Borrower's expense: evidence satisfactory to Lender that the Title Company is prepared to issue to Lender a title insurance endorsement to the Title Policy, the payment for which will constitute a cost advance to Borrower, showing no intervening liens or encumbrances on the Property and insuring the full amount of the disbursement, and a satisfactory report under the California Uniform Commercial Code showing no liens or interests other than those of Lender, if requested by Lender. The Project Architect and the Inspector each will have certified in writing to Lender in a form satisfactory to Lender at the time of each disbursement request that the Improvements are being constructed in accordance with the Plans and Specifications. In the judgment of Lender, all work done will have been completed with sound, new materials and fixtures, in a good and proper manner, and all materials, fixtures, and furnishings installed on or acquired for the Property will be owned by Borrower free of any liens, encumbrance, or other interests of any kind other than Lender's lien or security interest. All approvals, permits, certifications, consents, and licenses of governmental authorities or other parties having jurisdiction over the Property or the Work or contractual rights to approve or observe construction of the Improvements, that are necessary at the stage of construction when the disbursement is to be made to enable Completion of Improvements on or before the Completion Date, will have been receive...
Sample 1

Related to Conditions Precedent to Each Loan Disbursement

  • Conditions Precedent to Each Loan The obligation of the Lenders to make each Loan, including the initial Revolving Loans on the Closing Date, and the obligation of the Agent to cause the Letter of Credit Issuer to issue any Letter of Credit shall be subject to the further conditions precedent that on and as of the date of any such extension of credit:

  • CONDITIONS PRECEDENT TO EACH ADVANCE Lender’s obligation to make the initial Advance and each subsequent Advance under this Agreement shall be subject to the fulfillment to Lender’s satisfaction of all of the conditions set forth in this Agreement and in the Related Documents.

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • Conditions Precedent to Each Borrowing The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (and each of the giving of the applicable Borrowing Notice and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements are true):

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • Conditions Precedent to All Advances The obligation of Bank to make each Advance, including the initial Advance, is further subject to the following conditions:

  • Conditions Precedent to Borrowing The obligation of the Liquidity Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and, prior to the date of such Borrowing, the Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of this Agreement and has been completed as may be required by the relevant form of the Notice of Borrowing for the type of Advances requested.

  • Conditions Precedent to Loans The obligation of each Lender to make any Loans is subject, at the time of each such Loan, to the satisfaction of the following conditions:

  • CONDITIONS PRECEDENT TO LOAN The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions:

  • Conditions Precedent to Each Extension of Credit Before any extension of credit governed by this agreement, whether by disbursement of a loan, issuance of a letter of credit or otherwise, the following conditions must be satisfied:

Time is Money Join Law Insider Premium to draft better contracts faster.