Common use of Lender Conditions Clause in Contracts

Lender Conditions. On or prior to the Closing Date, Borrower shall deliver or cause to be delivered to Lender: (i) this Agreement, duly executed by B▇▇▇▇▇▇▇; (ii) a Note in the form of Appendix A hereto, duly executed by an authorized officer on behalf of the Borrower; (iii) a completed Flow of Funds in the form of Appendix B hereto, duly executed by an authorized officer on behalf of the Borrower; (iv) a Loan Request for the initial Loan, duly executed by an authorized officer on behalf of the Borrower; (v) an officer’s certificate of the Borrower certifying the Borrower’s: (A) certified charter (or similar formation document); (C) good standing certificate in its state of incorporation; (D) bylaws (or similar governing document); and (D) resolutions of its Board of Directors (or similar governing body) approving and authorizing the execution, delivery and performance of the Loan Documents and the transactions contemplated thereby, including the matters set forth in the following clause (vi); and (vi) not less than four current members of the Board of Directors shall have resigned (the “Former Directors”); and the three Lender Board Nominees shall have been elected or appointed by the remaining members of the Board of Directors (the “Remaining Directors”), which Lender Board Nominees shall serve as a majority of the members of the Board of Directors effective no later than the Closing Date.

Lender Conditions. On or prior to the Closing Date, Borrower shall deliver or cause to be delivered to Lender: (i) this Agreement, duly executed by B▇▇▇▇▇▇▇; (ii) a Note in the form of Appendix A hereto, duly executed by an authorized officer on behalf of the Borrower; (iii) a completed Flow of Funds in the form of Appendix B hereto, duly executed by an authorized officer on behalf of the Borrower; (iv) a Loan Request for the initial Loan, duly executed by an authorized officer on behalf of the Borrower; (v) an officer’s certificate of the Borrower certifying the Borrower’s: (A) certified charter (or similar formation document); (C) good standing certificate in its state of incorporation; (D) bylaws constitution (or similar governing document); and (D) resolutions of its Board of Directors (or similar governing body) approving and authorizing the execution, delivery and performance of the Loan Documents and the transactions contemplated thereby, including the matters set forth in the following clause (vi); and (vi) not less than four two current members of the Board of Directors shall have resigned (the “Former Directors”); and the three Lender Board Nominees shall have been elected or appointed by the remaining members of the Board of Directors (the “Remaining Directors”), which Lender Board Nominees shall serve as a majority of the members of the Board of Directors effective no later than the Closing Date.