EDC Packet Signed from 2.6.2025 - Laserfiche WebLink

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(e) The aggregate authorized face amount of the Loan authorized hereunder shall not exceed the aggregate principal amount of the Bonds. (f) The Company shall use commercially reasonable efforts to invest not less than $61,500,000 in the Project by not later than December 31, 2028, subject to the Unavoidable Delay provisions of Section 8.8 hereof. The Company shall apply all of the proceeds of the Loan toward the costs of the Project and shall finance all remaining costs of the Project from other available funds of the Company, including but not limited to construction financing. (g) No portion of the proceeds of the Loan will be used to provide any private or commercial golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard and ice skating), racquet sports facility (including any handball or racquetball court), hot tub facility, suntan facility, racetrack, airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling or store, the principal business of which is the sale of alcoholic beverages for off premises consumption. (h) No litigation at law or in equity nor any proceeding before any governmental agency or other tribunal involving the Company is pending or, to the knowledge of the Company threatened, in which any liability of the Company is not adequately covered by insurance and in which any judgment or order would have a material and adverse effect upon the business or assets of the Company or would materially and adversely affect the Project, the validity of this Agreement or the performance of the Company's obligations thereunder or the transactions contemplated hereby. (i) Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement, conflicts with or results in a breach of the terms, conditions or provisions of the Company's Articles of Incorporation, Bylaws or other organizational document, as the case may be, or any restriction or any agreement or instrument to which the Company is now a party or by which it is bound or to which any of its property or assets is subject or (except in such manner as will not materially impair the ability of the Company to perform its obligations hereunder) of any statute, order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or its property, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien, charge or encumbrance whatsoever upon any of the property or assets of the Company under the terms of any instrument or agreement, except as may be set forth in this Agreement and the Indenture. 0) There are no actions, suits or proceedings pending, or, to the knowledge of the Company, threatened, before any court, administrative agency or arbitrator which, individually or in the aggregate, might result in any material adverse change in the financial condition of the Company or might impair the ability of the Company to perform its obligations under the Development Agreement or this Agreement. (k) The execution and delivery by the Company of the Development Agreement or this Agreement does not require the consent or approval of, the giving of !som