Section 22 Lien Law Affidavit definition

Section 22 Lien Law Affidavit means a true statement under oath verified by the Borrower as required by Section 22 of the Lien Law and otherwise in form and substance reasonably acceptable to Administrative Agent. A copy of the Section 22 Lien Law Affidavit as in effect as of the Closing Date is attached hereto as Exhibit N.
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Section 22 Lien Law Affidavit means the affidavit executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit P or in such other form as may be reasonably satisfactory to the Administrative Agent in all respects, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the Building Loan Disbursement Agreement, and otherwise in compliance with Section 22 of the Lien Law of the State of New York. |
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Examples of Section 22 Lien Law Affidavit in a sentence

  • Borrower intends and has agreed in the Building Loan Agreement to apply the Building Loan to pay for costs of improvement (and other items disclosed in the Section 22 Lien Law Affidavit attached to the Building Loan Agreement) incurred after the date hereof in the construction, renovation, and development of a commercial building, as described in the Building Loan Agreement.

  • The Lead Arranger, the Administrative Agent and the Collateral Agent shall have received the Section 22 Lien Law Affidavit and a Notice of Lending, each in form and substance reasonably satisfactory to them and the Title Company.

  • No changes to the Building Budget or otherwise have occurred such that an updated Section 22 Lien Law Affidavit is required to be filed by the Borrower pursuant to Section 6.1.4 of this Agreement.

  • Amounts deposited into the Building Loan Proceeds Account and any amounts disbursed therefrom shall be used for only the purposes of paying Costs of Improvement and in accordance with the Section 22 Lien Law Affidavit.

  • Any other reallocation of a hard cost contingency Line Item (as defined in either Disbursement Agreement) shall be reallocated solely in accordance with the terms of the Disbursement Agreements and in accordance with the Lien Law of the State of New York and the Section 22 Lien Law Affidavit.

  • Borrower represents and warrants that no provision of this Amendment decreases the funds available for the payment of all contractors and materialman as shown in the Section 22 Lien Law Affidavit attached to the Second Amendment.

  • If the Building Budget amendment requires the filing of an amended Section 22 Lien Law Affidavit, the Borrower shall also satisfy the requirement of Section 4.1.2(m) as a condition of the effectiveness of such Building Budget amendment.

  • Such Section 22 Lien Law Affidavit complies in all respects with the requirements set forth in Section 22 of the Lien Law of the State of New York.

  • Upon submission of such Building Budget Amendment Certificate, together with the Exhibits thereto, and the filing of the Section 22 Lien Law Affidavit in accordance with Section 4.1.2(m) and Section 6.1.4, if applicable, such amendment shall become effective hereunder, and the Building Budget for the Project shall thereafter be as so amended.

  • The Building Budget may be modified from time solely in accordance with the terms of the Building Loan Disbursement Agreement and in accordance with the Lien Law of the State of New York and the Section 22 Lien Law Affidavit.