Conditions and Waivers Sample Clauses

Conditions and Waivers. All conditions precedent to the obligation of Lenders to make any advance are imposed hereby solely for the benefit of Administrative Agent and Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lenders will refuse to make any advance in the absence of strict compliance with such conditions precedent. Administrative Agent shall have the right to approve and verify the periodic progress of, costs incurred by Borrower for, and the estimated costs remaining to be incurred for the construction of the Improvements, after consultation with the Construction Consultant. No advance shall constitute an approval or acceptance by Administrative Agent of any construction work, or a waiver of any condition precedent to any further advance, or preclude Administrative Agent from thereafter declaring the failure of Borrower to satisfy such condition precedent to be a Default. No waiver by Administrative Agent of any condition precedent or obligation shall preclude Administrative Agent from requiring such condition or obligation to be met prior to making any other advance or from thereafter declaring the failure to satisfy such condition or obligation to be a Default.

Conditions and Waivers. All conditions precedent to the obligation of Lenders to make any advance are imposed hereby solely for the benefit of Administrative Agent and Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lenders will refuse to make any advance in the absence of strict compliance with such conditions precedent. No advance shall constitute an approval or acceptance by Administrative Agent of any construction work, or a waiver of any condition precedent to any further advance, or preclude Administrative Agent from thereafter declaring the failure of Borrower to satisfy such condition precedent to be a Default. No waiver by Administrative Agent of any condition precedent or obligation shall preclude Administrative Agent from requiring such condition or obligation to be met prior to making any other advance or from thereafter declaring the failure to satisfy such condition or obligation to be a Default.

Conditions and Waivers. Except as otherwise provided in this Agreement, the Village shall have no duty to issue building permits for construction of residences or reimburse the developer within any Phase unless and until the Developer duties in Article 4.02 are completed within the time limit outlined in Article 4.09.

Conditions and Waivers. All conditions precedent to the obligation of Administrative Agent to make any advance are imposed hereby solely for the benefit of Administrative Agent and the Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Administrative Agent will refuse to make any advance in the absence of strict compliance with such conditions precedent. Any requirement of this Agreement may be waived, in whole or in part, in a specific written waiver intended for that purpose and signed by Administrative Agent. Administrative Agent shall have the right to approve and verify the periodic progress, costs incurred by Borrower, and the estimated costs remaining to be incurred. No advance shall constitute an approval or acceptance by Administrative Agent of any construction work, a waiver of any condition precedent to any further advance, or preclude Administrative Agent from thereafter declaring the failure of Borrower to satisfy such condition precedent to be an Event of Default. No waiver by Administrative Agent of any condition precedent or obligation shall preclude Administrative Agent from requiring such condition or obligation to be met prior to making any other advance or from thereafter declaring the failure to satisfy such condition or obligation to be an Event of Default.

Conditions and Waivers. All conditions precedent to the obligation of ---------------------- Lender to make any Advance are imposed hereby solely for the benefit of Lender, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lender will refuse to make any Advance in the absence of strict compliance with such conditions precedent. Any requirement of this Agreement may be waived, in whole or in part, in a specific written waiver intended for that purpose and signed by Lender. Lender shall have the right to approve and verify the periodic progress of, costs incurred by Borrower for, and the estimated costs remaining to be incurred for the construction of the Resort Improvements. No Advance shall constitute a waiver of any condition precedent to any further Advance. No waiver by Lender of any condition precedent or obligation shall preclude Lender from requiring such condition or obligation to be met prior to making any other Advance. LOAN AND SECURITY AGREEMENT - Page 19 ---------------------------

Conditions and Waivers. All conditions precedent to the obligation of Lenders to make any Advance are imposed hereby solely for the benefit of Administrative Agent and Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lenders will refuse to make any Advance in the absence of strict compliance with such conditions precedent. ADVANCE REQUEST NO.: TO: Bank of America, N.A., as Administrative Agent LOAN NO.: DATE: BORROWERS: BEHRINGER HARVARD OPPORTUNITY OP I, LP, a Texas limited partnership (the “Operating Partnership”), and certain of its Subsidiaries In accordance with the Credit Agreement dated February , 2008, among the Operating Partnership, certain other parties (the “Credit Agreement”), Administrative Agent and the Lenders as defined therein, the Operating Partnership requests that $ be advanced from Loan proceeds. The Operating Partnership hereby further certifies to Administrative Agent and the Lenders as follows: 1. The proposed Funding Date (which must be a Business Day) is . 2. The following elections shall apply with respect to such Advance: (a) o Base Rate Principal: $ (b) o LIBOR Rate Principal: $ o one month $ o two months $ o three months $ o six months $ 3. The Maximum Availability Amount is $ and the amount of the proposed Advance will not cause the Total Outstandings to exceed the Maximum Availability Amount. If the Maximum Availability Amount specified above is greater than that specified in the most recent Advance Request, then attached to this Advance Request as Exhibit A is a current Borrower’s NOI Certificate. 4. The Debt Service Coverage Ratio (as determined in accordance with the Credit Agreement) equals or exceeds the following: . 5. All representations and warranties contained in the Credit Agreement and the other Loan Documents are true and accurate in all respects as of the date of this Advance Request, except as disclosed in any previous Advance Request or as follows (if any): 6. The Advance should be credited to the account of the Operating Partnership, on behalf of Borrowers, as follows: Account Name: ABA No.: Attention: Reference:

Conditions and Waivers. All conditions precedent to the obligation of Lenders to make any Advance are imposed hereby solely for the benefit of Administrative Agent and Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lenders will refuse to make any Advance in the absence of strict compliance with such conditions precedent. EXHIBIT "F-1" FORM OF ADVANCE REQUEST [BORROWER'S LETTERHEAD] ADVANCE REQUEST NO.: ____________ TO: Bank of America, N.A., as Administrative Agent LOAN NO.: ________________________________________________________________ DATE: ________________________________________________________________ BORROWER: Behringer Harvard Short-Term Opportunity Fund I LP ________________________________________________________________________________ In accordance with the Credit Agreement dated _________________, among Borrower, certain other parties, Administrative Agent and the Lenders as defined therein, Borrower requests that $__________ be advanced from Loan proceeds. Borrower hereby further agrees as follows: 1. The Proposed Funding Date (which must be a Business Day) is ___________. 2. The following elections shall apply with respect to such Advance: (a) [ ] BASE Rate Principal: Amount $____________ (b) [ ] LIBOR Rate Principal: INTEREST PERIOD AMOUNT -------------------------------------------------------- [ ] ONE MONTH $ __________________ [ ] TWO MONTHS $ __________________ [ ] THREE MONTHS $ __________________ 3. The Maximum Commitment Amount is $__________, the Aggregate Commitments is $____________, and the amount of the proposed Advance will not cause the outstanding principal balance of the Loan to exceed the lesser of (B) the Aggregate Commitments, or (B) the Maximum Commitment Amount then in effect. 4. The Advance should be credited to the account of Borrower as follows:

Conditions and Waivers. All conditions precedent to the obligation of Bank to approve any advance are imposed hereby solely for the benefit of Bank and the parties under the Loan Documents, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Bank will refuse to make any advance in the absence of strict compliance with such conditions precedent. Any requirement of this Agreement may be waived, in whole or in part, in a specific written waiver intended for that purpose and signed by Bank. Bank shall have the right to approve and verify the periodic progress, costs incurred by Borrower, and the estimated costs remaining to be incurred. No advance shall constitute an approval or acceptance by Bank of any construction work, a waiver of any condition precedent to any further advance, or preclude Bank from thereafter declaring the failure of Borrower to satisfy such condition precedent to be a Default. No waiver by Bank of any condition precedent or obligation shall preclude Bank from requiring such condition or obligation to be met prior to making any other advance or from thereafter declaring the failure to satisfy such condition or obligation to be a Default.

Conditions and Waivers. All conditions precedent to the obligation of Lenders to make any Advance are imposed hereby solely for the benefit of Administrative Agent and Lenders, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lenders will refuse to make any Advance in the absence of strict compliance with such conditions precedent. EXHIBIT "F-1" FORM OF ADVANCE REQUEST [BORROWER'S LETTERHEAD] ADVANCE REQUEST NO.: ____________