Common use of Additional Reporting Clause in Contracts

Additional Reporting. Promptly, and in any event within five (5) Business Days (or such different period provided below) of a Borrower obtaining Knowledge of the occurrence thereof, notify Administrative Agent of: (i) any Change of Law specifically affecting the Collateral, Approved Financings, any Related Borrower Party, any of their respective property or Equity Interests or any related Material Underlying Financing Participant that, in each case, could reasonably be expected to have a Material Adverse Effect or an Underlying Material Adverse Effect, including any developments with respect to any of the foregoing; (ii) within thirty (30) days, any change in the Authorized Officers of any Related Borrower Party, including certified specimen signatures of any new Person so appointed and satisfactory evidence of the authority of such Person; (iii) within ten (10) Business Days of receipt thereof, any written notice received or initiated by such Borrower relating to the Approved Financings, Collateral, any related Intercompany Document or any related Material Underlying Financing Document, or any written notice received or initiated by such Borrower relating to any related Required Approval, in each case, with respect to any act, event or circumstance that could reasonably be expected to have a Material Adverse Effect; (iv) obtaining Knowledge of any Lien (other than a Permitted Lien) being granted or established or becoming enforceable over any of the related Collateral, together with a description thereof; (v) any act, event or circumstance having occurred with respect to any related Approved Financing that could reasonably be expected to have a Material Adverse Effect or an Underlying Material Adverse Effect; (vi) any event or circumstance in which an Approved Financing has become a Watched Loan and the remedial measures that Borrowers intend to take with respect to any such Watched Loans; or (vii) the failure of HA INC to maintain REIT Status.

Additional Reporting. Promptly, and in any event within five (5) Business Days (or such different period provided below) of a Borrower obtaining Knowledge of the occurrence thereof, notify Administrative Agent of: (i) any Change of Law specifically affecting the Collateral, Approved Financings, any Related Borrower Party, any of their respective property or Equity Interests or any related Material Underlying Financing Participant that, in each case, could reasonably be expected to have a Material Adverse Effect or an Underlying Material Adverse Effect, including any developments with respect to any of the foregoing;; Amended & Restated Loan Agreement (PF) (ii) within thirty (30) days, any change in the Authorized Officers of any Related Borrower Party, including certified specimen signatures of any new Person so appointed and satisfactory evidence of the authority of such Person; (iii) within ten (10) Business Days of receipt thereof, any written notice received or initiated by such Borrower relating to the Approved Financings, Collateral, any related Intercompany Document or any related Material Underlying Financing Document, or any written notice received or initiated by such Borrower relating to any related Required Approval, in each case, with respect to any act, event or circumstance that could reasonably be expected to have a Material Adverse Effect; (iv) obtaining Knowledge of any Lien (other than a Permitted Lien) being granted or established or becoming enforceable over any of the related Collateral, together with a description thereof; (v) any act, event or circumstance having occurred with respect to any related Approved Financing that could reasonably be expected to have a Material Adverse Effect or an Underlying Material Adverse Effect; (vi) any event or circumstance in which an Approved Financing has become a Watched Loan and the remedial measures that Borrowers intend to take with respect to any such Watched Loans; or (vii) the failure of HA INC to maintain REIT Status.

Additional Reporting. PromptlyIn addition to the Certification of Continuing Compliance, and in any event the Owner shall submit to the Housing Authority the following: (a) The Owner shall notify the Housing Authority within five (5) Business Days (or such different period provided below) of a Borrower obtaining Knowledge business days of the occurrence thereof, notify Administrative Agent of: of any of the following: (i1) casualty (whether to individuals or property) or other event that gives rise to an insurance claim; (2) condemnation; (3) any Change unit that is or becomes uninhabitable, or is not occupied and left vacant for more than 30 days; (4) any crimes that occur at the Housing Project; (5) any death that occurs at the Housing Project; (56) any eviction (or commencement thereof) of Law specifically affecting any tenant of the Collateral, Approved Financings, Housing Project; (67) any Related Borrower Party, lawsuit is filed by or against the Owner; (68) any material non-compliance or default (which shall include any non-compliance with applicable affordability requirements) under any other loan or source of their respective property or Equity Interests funding to the Owner or any related Material Underlying Financing Participant that, in each case, could material regulatory agreement or other agreement binding upon the Owner or the Housing Project; (79) any event that occurs that would reasonablecould reasonably be expected to have a Material Adverse Effect result in negative public reputation or an Underlying Material Adverse Effect, including any developments news with respect to any of the Housing Authority, the Housing Project or the Owner Partnership; and (810) the Owner receives written notice describing or providing advance notice of any of the foregoing;. (b) On or before January 30, April 30, July 31 and November 30, the Owner shall submit to the Housing Authority quarterly financial reports for the Housing Project, in the same format as provided to equity and debt financing parties for the Housing Project, or if there are no financing parties, then in the form that the Housing Authority requires. (c) As soon as available and in any event not later than one hundred eighty (180) days after the end of each fiscal year of the Owner, the Owner shall provide the Housing Authority with the following: (1) the audited financial statements of the Owner, as of the end of such year, including balance sheet, statement of changes in capital accounts, statement of sources and uses of funds, statements summarizing number of tenants served and the cost of such services, with the report of the accountants thereon stating that an audit of such financial statements has been made in accordance with generally accepted auditing standards and identifying any matters to which the Owner accountants take exception, and stating, to the extent practicable, the effect of each such exception of such financial statements, (2) a detailed statement of uses of net cash flow or residual receipts and any transactions between the Owner and its general partners or any of its affiliates, and of fees, commissions, compensation and other benefits paid, or accrued, to its general partner or any of its affiliates for the prior fiscal year of the Owner, showing the amount paid or accrued to each recipient and a general indication of the services performed, (3) a management report on the Housing Project containing such information as is reasonably necessary to advise the Housing Authority about the development or operation of the Housing Project, including follow-up information regarding the events described in item 3.01(a) above, and (4) such other information and reports reasonably requested by the Housing Authority. (d) The Owner shall submit to the Housing Authority concurrently with submission to CTCAC, the California Board of Equalization or Alameda County, as applicable, (i) a copy of the current CTCAC project status report and (ii) within thirty a copy of all certifications and other materials provided to the California Board of Equalization and Alameda County for the welfare tax exemption application or renewal. (30e) daysOn or before November 1, the Owner shall submit to the Housing Authority the annual Housing Project operating budget for the next fiscal year, including, without limitation, any change in the Authorized Officers of any Related Borrower Party, including certified specimen signatures of any new Person so appointed planned capital improvements and satisfactory evidence of the authority of such Person;draws from reserves. (iiif) within ten (10) Business Days Upon request for examination by the Housing Authority, the Owner shall, at any time during normal business hours after receiving at least 48-hour advance notice, make available all of receipt thereof, any written notice received or initiated by such Borrower relating to the Approved Financings, Collateral, any related Intercompany Document or any related Material Underlying Financing Document, or any written notice received or initiated by such Borrower relating to any related Required Approval, in each case, its records with respect to any actall matters covered by this Agreement. The Owner shall permit the Housing Authority to audit, event examine and make excerpts or circumstance that could reasonably be expected to have a Material Adverse Effect;transcripts from these records at the Housing Authority’s sole cost. (ivg) obtaining Knowledge Subject to the rights of any Lien (other than a Permitted Lien) being granted or established or becoming enforceable over any tenants, the Owner agrees that Housing Authority and its duly authorized representatives shall have at reasonable times upon at least 48-hour advance notice, subject to the rights of tenants, have access to the related Collateral, together with a description thereof; (v) any act, event or circumstance having occurred with respect to any related Approved Financing that could reasonably be expected to have a Material Adverse Effect or an Underlying Material Adverse Effect; (vi) any event or circumstance in which an Approved Financing has become a Watched Loan Property and the remedial measures that Borrowers intend Housing Project to take to inspect and monitor compliance with respect to any such Watched Loans; or (vii) the failure terms of HA INC to maintain REIT Statusthis Agreement.