Common use of ▇▇▇▇ Event Clause in Contracts

▇▇▇▇ Event. Notwithstanding the foregoing, no ▇▇▇▇ Event may be closed until the date that is (a) if there is no real property subject to a Mortgage in a “special flood hazard area”, 10 Business Days or (b) if there is any real property subject to a Mortgage in a “special flood hazard area”, 45 days (in each case, the “Notice Period”), after the Administrative Agent has delivered to the Lenders the following documents in respect of such real property and the Lenders have provided written confirmation (not to be unreasonably withheld, conditioned or delayed) that flood insurance due diligence has been completed by the Lenders: (i) a “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each real property subject to a Mortgage (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Company or the applicable Loan Party in the event any such real property subject to a Mortgage is located in a special flood hazard area) and (ii) evidence of flood insurance as required by Section 5.09(b); provided that any such ▇▇▇▇ Event may be closed prior to the Notice Period if the Administrative Agent shall have received confirmation from each Lender that such Lender has completed any necessary flood insurance due diligence to its reasonable satisfaction.

▇▇▇▇ Event. Notwithstanding the foregoing, no ▇▇▇▇ Event may be closed until the date that is (a) if there is are no real property subject to a Mortgage in a “special flood hazard area”, 10 ten (10) Business Days or (b) if there is are any real property subject to a Mortgage in a “special flood hazard area”, 45 thirty (30) days (in each case, the “Notice Period”), after the Administrative Agent has delivered to the Lenders the following documents in respect of such real property and the Lenders have provided written confirmation (not to be unreasonably withheld, conditioned or delayed) that flood insurance due diligence has been completed by the Lendersproperty: (i) a “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each real property subject to a Mortgage (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Company Borrower or the applicable Loan Party in the event any such real property subject to a Mortgage is located in a special flood hazard area) and (iiB) evidence of flood insurance as required by Section 5.09(b6.7(a); provided that any such ▇▇▇▇ Event may be closed prior to the Notice Period if the Administrative Agent shall have received confirmation from each applicable Lender that such Lender has completed any necessary flood insurance due diligence to its reasonable satisfaction.