Evidence of Progress of Renovations Sample Clauses

Evidence of Progress of Renovations. Borrower shall include with each requisition a certificate of Borrower and Guarantor certifying to Trustee: (i) the value of that portion of the Renovations completed at that time and the percentage of Completion; (ii) that all outstanding claims for labor, materials and fixtures with respect to the Renovations have been paid or shall be paid upon receipt of the funds requested to be disbursed from the PIP Pledged Account; (iii) that there are no liens outstanding against the Property except for the lien of the Indenture, other liens permitted hereunder or under the terms of the Indenture, or statutory materialman’s liens arising under Florida Statutes Section 713.001-713.37 (2005), as amended, for work in progress, inchoate liens for property taxes not yet due, and liens being contested in compliance with the provisions of this Agreement and/or the Indenture; (iv) that all Renovations before the date of the request for disbursement of Available Funds therefor from the PIP Pledged Account have been done in a workmanlike manner substantially in accordance with the Approved Renovation Budget, Attachment B to the Franchise Agreement and in accordance with applicable Laws; (v) that copies of all bills or statements for expenses for which the disbursement of Available Funds from the PIP Pledged Account is requested are attached to such request for the disbursement of such funds, and that no such bills or statements are dated more than ninety (90) days prior to the date of the requisition; (vi) that (a) Franchisor has received all information with respect to such Renovations required to be provided to Franchisor under the Franchise Agreement, and (b) any approval required to be given by Franchisor in connection with such Renovations has been received by Borrower; (vii) that all Change Orders shall have been approved in writing by Trustee (except to the extent not required by Section 6.4 hereof); and (viii) such other material or information as Borrower deems relevant, including, but not limited to, amendments to the disclosure schedules to this Loan Agreement (provided, however, that such amendments or subsequent disclosures shall not affect Trustee’s right under the Loan Documents to declare a default or an Event of Default to the extent the same arises as a result of any such amendments or modifications thereof), or which Trustee may reasonably require.