(k) Fl Documentary Stamp Taxation. 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 Funding Notice would be executed because of the an authorized Administrator inside the a writing taken to Administrative Representative, Purchasing Agent each Lender
(l) End out-of 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) at least a few (2) Business days prior to such Borrowing Date, Management Agent, Spending Broker and every Bank should have received a completely conducted and you can produced Capital Find along with a borrowing from the bank Foot Certification, evidencing sufficient Access with regards to the asked Loans, and you will a borrowing Foot Report;
(ii) pre and post and work out people Finance expected into including Borrowing Date, the entire Utilization of Commitments should perhaps not surpass this new Borrowing from the bank Base;
(iii) by including Borrowing Big date, new representations and you may guarantees consisted of here along with others Credit Documents are going to be correct and you will correct throughout material areas on the and also as of this Borrowing from the bank Day towards same the quantity as the regardless of if made into the and as of these big date (unless these expression otherwise guarantee means a particular big date, in which particular case, it are genuine and correct in every topic areas just like the of these day);
(iv) by such as Borrowing Time, no feel shall provides happened and stay persisted or manage effects regarding the consummation of one’s relevant Financing who make-up an Experience of Standard otherwise a standard;
(vii) with regards to the relevant Verification Experiences to possess particularly Borrowing Time, Schedule II of such Confirmation Certificate notes only about the fresh higher regarding (i) 7 (8) of these Lease Files examined of the Verification Representative otherwise (ii) 5% of such Lease documents examined from the Verification Agent;
(viii) to your extent the vow of any Rent would result in brand new aggregate Amortized Rent Value of all Apartments the brand new Obligors of that have asking address in any you to definitely state so you’re able to exceed 22.5% of one’s Amortized Rent Worth of all of the Bound Rentals, a legal advice with regards to compliance which have legislation in such county, fairly acceptable with the Administrative Agent; and you will
The obligation of any Bank and work out people Loan to your one Credit Big date was susceptible to this new satisfaction, or waiver prior to
The latest Management Agent is named, yet not compelled to, request and discover, before the while making of every Financing, much more information reasonably satisfactory toward Administrative Representative otherwise people Lender guaranteeing the pleasure of any of your own foregoing if the, throughout the reasonable discernment of one’s Administrative Broker otherwise such as Lender including demand are justified in factors.
To induce the lenders to go into to your it Contract in order to create each Mortgage are made thereby, Providers stands for and you can warrants to each Bank that each and every of their representations and you will guarantees part of the Arrangement are real and you will best since this new Closure Date and each 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 Schedule dos, (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.