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DocuSign Envelope ID:32DB35C3-9702-4565-BD48-8C80457ABA88 <br /> such obligations;(b)adequate funds are not appropriated or funded to the Authority <br /> by the Illinois General Assembly to allow the Authority to fulfill its obligations <br /> under this Letter; or(c) funds appropriated are de-appropriated or not allocated,or <br /> if funds needed by the Authority,at the Authority's sole discretion,are insufficient. <br /> The Authority shall give the Recipient notice of insufficient funding as soon as <br /> practicable. The Recipient's obligation to perform shall cease upon receipt of the <br /> notice. <br /> 2. The Authority's performance of its obligations under this Letter, dated as of the <br /> date set forth above, is also contingent upon: <br /> a. Evidence satisfactory to the Authority that Recipient is able to comply with <br /> its duties under the Act; and <br /> b. Recipient's delivery, subject to the Authority's review and approval in its <br /> sole and absolute discretion, of all required due diligence and <br /> documentation; and <br /> C. Recipient's completion or satisfaction of each and all of the terms and <br /> conditions listed in this Letter and any other terms and conditions imposed <br /> by the Authority. <br /> 3. The Authority's performance under this Letter is also contingent upon (i) its <br /> determination, in its sole discretion, on the Closing Date, as defined in Paragraph <br /> C.2 hereof that the Recipient, its constituent or related entities, or other related <br /> individuals,is not in default under the terms of any other loan or grant made by the <br /> Authority under any Authority program, or has not been in default under the terms <br /> of any other loan or grant made by the Authority under any Authority program and <br /> failed to cure that default. <br /> B. GENERAL CONDITIONS: This Letter and the Funds shall be subject to the terms and <br /> conditions of the Act,the Rules, and the policies and procedures now or hereafter adopted <br /> by the Authority pursuant to the Act,all as amended from time to time. <br /> C. TERMS AND CONDITIONS OF THE FUNDS: The Funds shall be subject to the <br /> following terms and conditions: <br /> 1. Funds Amount. The Funds shall be in an amount not to exceed Three Hundred <br /> Thirty Seven Thousand No/100 Dollars($337,000.00). <br /> 2. Closing Date.The closing shall occur at such time as(i)the Authority has received, <br /> reviewed and approved, as to both form and substance, all due diligence and <br /> documentation; and(ii) Recipient has satisfied all of the requirements set forth in <br /> this Letter, as determined in the Authority's sole discretion (the "Closing Date"). <br /> Unless otherwise agreed in writing by the parties,the Closing Date shall be no later <br /> than November 15,2023 (the"Outside Closing Date"). If the closing of the Funds <br />