Qualified Borrower. In the event that such Loan is to be made to, or such Letter of Credit is to be issued or extended for the account of, a Qualified Borrower, receipt by the Administrative Agent of a Note by such Qualified Borrower for the account of each Lender, if not previously delivered, satisfying the requirements of Section 4.3, together with the Qualified Borrower Guaranty and all other items that would have been required to be delivered pursuant to Sections 2.10 and 6.1 with respect to such Qualified Borrower. Each submission by the Borrower or any Qualified Borrower to the Administrative Agent of a Notice of Borrowing with respect to a Loan or a Notice of Conversion/Continuation with respect to any Loan, each acceptance by the Borrower or a Qualified Borrower of the proceeds of each Loan made, converted or continued hereunder, each submission by the Borrower or any Qualified Borrower to a Lender of a request for issuance or extension of a Letter of Credit and the issuance of such Letter of Credit, shall constitute a representation and warranty by the Borrower as of the Funding Date in respect of such Loan, the date of conversion or continuation and the date of issuance or extension of such Letter of Credit, that all the conditions contained in this Section 6.2 have been satisfied or waived in accordance with Section 14.7.
Qualified Borrower. The developer of an interval ownership, condominium, timeshare, or vacation ownership project, the creditworthiness for an acquisition, development, and/or construction loan and other qualifications of which have been approved by Lender. A listing of each Qualified Borrower which is the borrower under an Applicable Underlying Loan is set forth on Exhibit "D" attached hereto and incorporated herein by this reference. No Person shall be deemed a Qualified Borrower hereunder unless and until Lender has so designated such Person in writing.
Qualified Borrower. 15 1.79 Qualified Borrower Underwriting Guidelines ..................... 15 1.80
Qualified Borrower. In the event that such Loan is to be made to, or such Letter of Credit is to be issued for the account of, a Qualified Borrower, receipt by the Administrative Agent of a Note by such Qualified Borrower for the account of each Bank, if not previously delivered, satisfying the requirements of Section 4.3, together with all other items that would have been required to be delivered pursuant to Sections 2.10 and 6.1 with respect to such Qualified Borrower. Each submission by the Borrower or any Qualified Borrower to the Administrative Agent of a Notice of Borrowing with respect to a Loan or a Notice of Conversion/Continuation with respect to any Loan, each acceptance by the Borrower of the proceeds of each Loan made, converted or continued hereunder, each submission by the Borrower or any Qualified Borrower to a Lender of a request for issuance of a Letter of Credit and the issuance of such Letter of Credit, shall constitute a representation and warranty by the Borrower as of the Funding Date in respect of such Loan, the date of conversion or continuation and the date of issuance of such Letter of Credit, that all the conditions contained in this Section 6.2 have been satisfied or waived in accordance with Section 15.7.
Qualified Borrower. The developer of an interval ownership, condominium, timeshare, or vacation ownership project, who is domiciled and has his principal residence [or, in the case of a Person not a natural person, is organized and has its principal place of business (or if it has no principal place of business, its chief executive office)] in the United States, and the creditworthiness for an acquisition, development, and/or construction loan and other qualifications of which are satisfactory to Lender, based upon any factors that Lender deems relevant. No Person shall be deemed a Qualified Borrower unless and until Lender has so designated such Person in writing.
Qualified Borrower. At all times until payment in full of the Note and all interest accrued thereon, maintain Borrower’s status as an “eligible borrower”, as such term is defined in the National Consumer Cooperative Bank Act, as amended (12 U.S.C. Section 3001 et seq.) and in accordance with the policies of Lender in effect as of the date hereof.
