ADDITIONAL IMPROVEMENT ADVANCE CONDITIONS. After the initial advance, additional advances made for the purpose of constructing any subject Improvements shall be subject to the following conditions: (a) The conditions precedent set forth in Sections 5.1, 5.2 and 5.3 shall remain satisfied. (b) All Permits required under Governmental Requirements for construction of the subject Improvements shall be legally valid and in force and effect. (c) The subject Property and Improvements shall not have suffered any damage or deterioration without provision for arrangements satisfactory to Atlantic for the restoration and replacement of the damage or deterioration to such Property or Improvements.
Appears in 3 contracts
Sources: Funding Commitment Agreement (Security Capital Atlantic Inc), Funding Commitment Agreement (Homestead Village Inc), Funding Commitment Agreement (Security Capital Pacific Trust)
ADDITIONAL IMPROVEMENT ADVANCE CONDITIONS. After the initial advance, additional advances made for the purpose of constructing any subject Improvements shall be subject to the following conditions:
(a) The conditions precedent set forth in Sections 5.1, 5.2 and 5.3 shall remain satisfied.
(b) All Permits required under Governmental Requirements for construction of the subject Improvements shall be legally valid and in force and effect.
(c) The subject Property and Improvements shall not have suffered any damage or deterioration without provision for arrangements satisfactory to Atlantic PTR for the restoration and replacement of the damage or deterioration to such Property or Improvements.
Appears in 2 contracts
Sources: Funding Commitment Agreement (Homestead Village Inc), Funding Commitment Agreement (Security Capital Group Inc/)
ADDITIONAL IMPROVEMENT ADVANCE CONDITIONS. After the initial advance, additional advances made for the purpose of constructing any subject Improvements shall be subject to the following conditions:
(a) The conditions precedent set forth in Sections 5.1, 5.2 and 5.3 shall ------------ --- --- remain satisfied.
(b) All Permits required under Governmental Requirements for construction of the subject Improvements shall be legally valid and in force and effect.
(c) The subject Property and Improvements shall not have suffered any damage or deterioration without provision for arrangements satisfactory to Atlantic PTR for the restoration and replacement of the damage or deterioration to such Property or Improvements.
Appears in 1 contract
Sources: Funding Commitment Agreement (Security Capital Pacific Trust)