Examples of IDOT Guarantor in a sentence
Borrower shall permit and shall cause Guarantor and each IDOT Guarantor to permit Lender, or any Person authorized by Lender, to inspect and examine such books and records (regardless of where maintained) and all supporting vouchers and data and to make copies and extracts therefrom at all reasonable times and as often as may be requested by Lender.
No information, statement or report furnished in writing to Lender by the applicable Collateral Pool Borrower or IDOT Guarantor in connection with this Agreement or any other Loan Document with respect to such Collateral Pool or in connection with the consummation of the transactions contemplated hereby contains any statement which is incorrect in any material respect.
Within thirty (30) days of filing, the Federal Tax Return of Borrower, IDOT Guarantor and Guarantor.
No IDOT Guarantor may create, incur, assume or suffer to exist any indebtedness except for trade payables incurred in the ordinary course of business.
Each Borrower and IDOT Guarantor agrees that the provisions of this Article 12 are for the benefit of Lender and their successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower or IDOT Guarantor and Lender, the obligations of such other Borrower or IDOT Guarantor under the Loan Documents.
Neither Borrower nor IDOT Guarantor shall make any distributions of any nature or kind whatsoever to the owners of its Ownership Interests as such if, at the time of such distribution, an Event of Default has occurred and remains uncured.
The liability of each Borrower or IDOT Guarantor under this Article 12 is in addition to and shall be cumulative with all liabilities of such Borrower or IDOT Guarantor to Lender under this Agreement and all the other Loan Documents to which such Borrower or IDOT Guarantor is a party or in respect of any Obligations of any Other Borrower.
Within ten (10) days after Borrower’s or IDOT Guarantor’s receipt of any Condemnation Awards or Insurance Proceeds, Borrower shall or shall cause the applicable IDOT Guarantor to deliver such awards or proceeds to Lender in the form in which they were received, together with any endorsements or documents that may be necessary to effectively negotiate or transfer the same to Lender.
The financial statements heretofore delivered by Borrower, Guarantor and each IDOT Guarantor to Lender are true and correct in all material respects, have been prepared in accordance with sound accounting principles consistently applied, and fairly present the respective financial conditions of the subjects thereof as of the respective dates thereof.
Neither Borrower nor IDOT Guarantor shall submit any Mortgaged Property in its Collateral Pool to a condominium regime during the Term of this Agreement.