Zero Default, Enjoy of Standard otherwise Servicer Default shall has actually happened and be continuing
(k) Florida Documentary Stamp Income tax. Seller or Company shall have provided to Administrative Agent evidence that it has mailed payment to the Florida Department of Revenue of all amounts owed in relation to the Florida documentary stamp tax, in accordance with Rule 12B-4 of the Florida Administrative Code.
One Financial support Observe shall be performed of the an authorized Officer from inside the a crafting brought to Management Representative, Expenses Representative and every Lender
(l) End away from Process. All corporate, limited liability and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incidental thereto shall be reasonably satisfactory in form and substance to each Lender and the Administrative Agent, and each Lender, and the Administrative Agent shall have received all such counterpart originals or certified copies of such documents as they may request.
(i) about several (2) Business days ahead of particularly Borrowing Date, Management Representative, Using Agent and every Bank will have obtained a completely executed and lead Money See plus a credit Foot Certificate, evidencing sufficient Accessibility with respect to the requested Fund, and you may a borrowing Legs Declaration;
(ii) both before and after making people Finance expected to your such as for instance Borrowing from the bank Go out, the full Using Responsibilities will maybe not meet or exceed the brand new Credit Foot;
(iii) as of such as for example Credit Day, the newest representations and you will warranties contains here and also in another Borrowing Files would be genuine and you may proper in every question areas towards the so that as of these Borrowing from the bank Date into the exact same the total amount because in the event produced towards so when of these big date (unless of course any such logo otherwise assurance relates to a particular time, in which case, it will likely be true and right in all matter respects as of these big date);
(iv) at the time of such as Borrowing from the bank Date, zero experiences should provides taken place and stay proceeded otherwise create results regarding the consummation of the appropriate Financing who would constitute an enthusiastic Skills regarding Default or a default;
(vii) according to related Verification Experiences getting such as for example Borrowing from the bank Big date, Agenda II of such Verification Certification cards just about brand new greater regarding (i) 7 (8) of these Lease Data files analyzed by Confirmation Agent otherwise (ii) 5% of such Lease data assessed because of the Confirmation Agent;
(viii) into the extent the pledge of any Lease would produce the fresh new aggregate Amortized Book Worth of all the Apartments new Obligors away from that have charging you address contact information in https://fasterloansllc.com/title-loans-ks/ any one to condition in order to meet or exceed twenty-two.5% of your own Amortized Lease Worth of the Pledged Leases, a legal advice with respect to conformity with laws such condition, fairly acceptable toward Management Agent; and you will
The responsibility of any Financial and come up with one Loan on one Borrowing Date try at the mercy of brand new pleasure, or waiver according to
The new Management Representative are called, however forced to, consult and you can receive, prior to the and also make of any Financing, addiitional information relatively sufficient with the Administrative Broker otherwise any Bank confirming brand new fulfillment of every of foregoing if the, throughout the sensible discernment of your Management Agent or such as Lender such as for example demand try justified within the products.
In order to create lenders to enter to your so it Arrangement also to make for every Financing become made and therefore, Team is short for and you will warrants to each and every Lender that each of the representations and guarantees part of the Arrangement was correct and you may best at the time of new Closing Time and every Borrowing Go out:
4.1 Organization; Requisite Power and Authority; Qualification; Other Namespany (a) is duly organized or formed, validly existing and in good standing under the laws of its jurisdiction of organization or formation as identified in Agenda 2, (b) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Credit Documents to which it is a party and to carry out the transactions contemplated thereby and (c) is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had, and would not be expected to result in a Material Adverse Effectpany does not operate or do business under any assumed, trade or fictitious namepany has no Subsidiaries.