Conditions Precedent to First Advance of Project Funds Sample Clauses

Conditions Precedent to First Advance of Project Funds. Prior to the first advance of Project Funds contemplated by this Agreement, and as a condition of Lessee's right to receive any of the proceeds of the Project Funds, there shall have been furnished to Lessor:
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Conditions Precedent to First Advance of Project Funds. Prior to the first advance of Project Funds contemplated by this Agreement, and as a condition of Lessee's right to receive any of the proceeds of the Project Funds, there shall have been furnished to Lessor: A. An owner's title insurance policy in form and substance satisfactory to Lessor, in its sole and absolute discretion, issued by a title insurance company or companies satisfactory to Lessor (the "Title Company") with such endorsements, reinsurance and/or co-insurance as Lessor may require, insuring Lessor's fee title to the Leased Property free from all Liens and without exception for (i) filed or unfiled mechanics' liens, (ii) survey matters, (iii) rights of parties in possession, (iv) environmental liens and (v) any other matters of any kind for nature whatsoever other than the Permitted Encumbrances (the "Title Policy"); B. Such evidence as Lessor may require that the use contemplated for the Project, and all of the improvements and construction contemplated by the Project Plans, comply with all applicable Legal Requirements, to the extent in force and applicable; C. Insurance policies and/or Certificates of Insurance required pursuant to the terms and provisions of the Facility Lease; D. Such evidence as Lessor may require to determine that the total cost of completion Of the Project in all respects, including all related direct and indirect costs as previously approved by Lessor, will not exceed the amount set forth in the Project Budget; E. Such evidence as Lessor may require that Lessee's representations and warranties contained herein and in all of the other Lease Documents are true and correct in every material respect; F. Such evidence as Lessor may require as to the satisfaction of such of the terms and conditions of this Agreement and of the other Lease Documents as may by their nature be satisfied prior to the making of such advance; 15
Sample 1
Conditions Precedent to First Advance of Project Funds. Prior to the first advance of Project Funds contemplated by this Agreement, and as a condition of the Developer's right to receive any of the proceeds of the Project Funds, the following items shall have been furnished to the Lessor at the Developer's sole cost and expense (which may be paid from the initial advance of the Project Funds as long as such costs are included in the Project Budget):
Sample 1

Related to Conditions Precedent to First Advance of Project Funds

  • Conditions Precedent to Initial Advances The obligation of each Bank to make its initial Advance on or after the Closing Date is subject to the conditions precedent that (i) all principal, accrued interest, fees, expenses, costs and other amounts outstanding under the terms of each of the Prior Agreements, accrued to the Closing Date, shall have been paid, and the commitments of the lenders thereunder to extend credit shall have terminated, (ii) the Agent shall have received, for the benefit of the Banks, the one time upfront fees due and payable on the Closing Date pursuant to the Joint Fee Letter and (iii) the Agent shall have received on or before the day of the initial Borrowing the following, each dated the Closing Date, in form and substance satisfactory to the Agent and in sufficient copies for each Bank:

  • 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 Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • 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 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 Initial Loan The obligation of Lender to make the initial Loan is subject to the condition precedent that Lender shall have received, in form and substance satisfactory to Lender, all of the following:

  • Conditions Precedent to Initial Loans In addition to the conditions set forth in Section 6.2, Lenders shall not be required to fund any requested Loan, issue any Letter of Credit, or otherwise extend credit to Borrowers hereunder, until the date (“Closing Date”) that each of the following conditions has been satisfied:

  • Conditions Precedent to the Initial Advance The obligations of the Banks hereunder and the obligation of each Bank to make the Initial Advance are subject to the condition precedent that Administrative Agent shall have received and approved on or before the Closing Date (other than with respect to paragraph (10) below which shall be required prior to the Initial Advance) each of the following documents, and each of the following requirements shall have been fulfilled:

  • Conditions Precedent to Disbursement The following conditions must be satisfied before the Loan is disbursed to Borrowers:

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

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