Final Conditions definition

Final Conditions means, as to each Mortgage Note, that (A) such Mortgage Note has been delivered to the Collateral Agent in accordance with the Custodial Agreement and (B) the Custodian has received the Notice of Borrowing and Pledge (as defined in the Custodial Agreement) and such Notice of Borrowing and Pledge identifies the Mortgage Note as being pledged to the Lender. Furthermore, for purposes of rendering the opinions set forth in this Section 7, we have assumed that there are no financing statements which have been presented for filing with the UCC Office, which have been accepted for filing by the UCC Office, or which are otherwise on file therewith naming the Company as a debtor other than those set forth on the uniform commercial code search ("Search") a copy of which is attached hereto as Exhibit C and that no financing statements naming the Company as debtor will be presented to the UCC Office for filing, be accepted for filing with the UCC Office, or otherwise become of record with the UCC Office, prior to the time at which the UCC Financing Statement is presented for filing with the UCC Office with the appro- priate filing fee therefor. We are furthermore assuming that (A) the Mortgage Notes are not covered by a negotiable document (as said term is used in MCL 440.9305), (B) the Custodian is not holding the Mortgage Notes as bailee on behalf of any other person or entity other than the Lender or on its own behalf (whether as agent for another person or entity or for itself) at the time said Custodian receives possession thereof pursuant to the 129 MILLER, CANFIELD, PADDOCK AND STONE, P.L.C. Greenwich Capital Financial Products, Inc. May 4, 1998 Page 8 Custodian Agreement and not received, prior to said Custodian receiving the relevant Notice of Borrowing and Pledge and the relevant Mortgage Notes, from any other person or entity notification of another person's or entity's security interest in the Mortgage Notes, (C) the chief executive office of the Company shall remain within the State of Michigan, and (D) that the Custodian will not be directly or indirectly controlled by the Borrower or any of its affiliates. Our opinions as expressed herein are subject to the following further qualifications, limitations, and assumptions:
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Examples of Final Conditions in a sentence

  • Lenders will not be obliged to fund any participation under the Initial Authorised Credit Facilities until the Initial ACF Agent has notified the Borrower Secured Creditors that all conditions precedent to the Closing Date (other than the Final Conditions Precedent) as set out in the Borrower CP Agreement have been fulfilled or waived in accordance with the terms of the Borrower CP Agreement.

  • Such amendment will become effective once the Final Conditions Precedent have been met on or prior to 30 July 2010 (and to this effect the Senior Agent will have to confirm to the Lenders that it has received from PRISA, on or before 30 July 2010, each of the documents listed in Schedule 2 in each case in form and substance satisfactory to the Agent).

  • The Final Conditions Precedent will be automatically and simultaneously satisfied on the Closing Date, in accordance with clauses 2.4 and 2.5 of the Borrower CP Agreement.

  • All development on the Site, including without limitation Area A, shall be accomplished by Developer in conformity with the Final Conditions of Approval for Plot Plan PA 13-0006, General Plan Amendment PA 13-0008 and Zone Change PA 13-0007 (collectively, the “Existing Entitlement Actions”).