Set Aside Letters. If, at Borrower's request, Lender issues any letter or letters ("Set Aside Letter") to any governmental agency ("Obligee") or bonding company ("Surety") whereby Lender agrees to allocate Loan proceeds for the construction of off-site, common area, or other improvements required by any governmental agency or for which bonds may be required ("Bonded Work") in connection with the development of the Property, Borrower represents, warrants, covenants and agrees as follows:
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Samples: Construction Loan Agreement (Equity Office Properties Trust), Construction Loan Agreement (Equity Office Properties Trust), Construction Loan Agreement (Equity Office Properties Trust)
Set Aside Letters. If, at Borrower's ’s request, Lender issues any letter or letters ("“Set Aside Letter"”) to any governmental agency ("“Obligee"”) or bonding company ("“Surety"”) whereby Lender agrees to allocate Loan proceeds for the construction of off-site, common area, or other improvements required by any governmental agency or for which bonds may be required ("“Bonded Work"”) in connection with the development of the Property, Borrower represents, warrants, covenants and agrees as follows:
Appears in 1 contract
Samples: Construction Loan Agreement (Equity Office Properties Trust)
Set Aside Letters. If, at Borrower's ’s request, Lender issues any letter or letters ("“Set Aside Letter"”) to any governmental agency ("“Obligee"”) or bonding company ("“Surety"”) whereby Lender agrees to allocate Loan proceeds for the construction of off-site, common area, or other improvements required by any governmental agency or for which bonds or letters of credit may be required ("“Bonded Work"”) in connection with the development of the Property, Borrower represents, warrants, covenants and agrees as follows:
Appears in 1 contract
