Common use of Audit and Inspection by Lender Clause in Contracts

Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the Property, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and Borrower shall make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's costs and expenses incurred in connection with no more than one (1) such audit per year. Borrower acknowledges and agrees that (i) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's auditors or inspectors or any of Lender's representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (ii) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iii) the performance of such audits, inspections and reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectors, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvements.

Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and Borrower Borrowers shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the PropertyProperties, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and Borrower Borrowers. Borrowers shall make or cause their applicable Affiliates to make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower Borrowers shall pay Lender's costs and expenses incurred in connection with no more than one (1) such an audit per yearif an error in excess of 5% of Expenses or Gross Revenues is determined. Borrower acknowledges Borrowers acknowledge and agrees agree that (iA) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower Borrowers or any third party, and neither Lender nor Lender's auditors or inspectors or any of Lender's representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (iiB) Borrower Borrowers will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iiiC) the performance of such audits, inspections and reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower Borrowers hereunder or thereunder. Borrower Borrowers further acknowledges acknowledge and agrees agree that neither Lender nor Lender's inspectorsinspector, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvements.

Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the Property, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and statements. Borrower shall make or cause its applicable Affiliates to make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's ’s costs and expenses incurred in connection with no more than one (1) such audit per year, unless there has occurred an Event of Default in which case Borrower shall pay the costs and expenses of all such audits conducted by Lender. Borrower acknowledges and agrees that (iA) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's ’s auditors or inspectors or any of Lender's ’s representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (iiB) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iiiC) the performance of such audits, inspections and or reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectors’s inspector, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvementsany improvements.

Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and ------------------------------ Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the each Property, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determinedrecords); and Borrower shall make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may reasonably require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's reasonable costs and expenses incurred in connection with no more than one (1) such audit per year. Borrower acknowledges and agrees that (i) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's auditors or inspectors or any of Lender's representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (ii) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iii) the performance of such audits, inspections and reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectors, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvements.

Audit and Inspection by Lender. Lender shall have the right, and, upon reasonable prior noticenotice to Borrower, and Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the Property, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and Borrower shall make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's costs and expenses incurred in connection with no more than one (1) such audit per year. Borrower acknowledges and agrees that (i) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's auditors or inspectors or any of Lender's representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (ii) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iii) the performance of such audits, inspections and reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectorsinspector, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvements.

Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time during normal business hours and from time to time, Lender and its representatives (i) to inspect the PropertyMortgaged Premises, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and of Borrower. Borrower shall make or cause its applicable Affiliates to make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's ’s costs and expenses incurred in connection with no more than one (1) such audit per year, unless there has occurred an Event of Default in which case Borrower shall pay for all such audits. Borrower acknowledges and agrees that (iA) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's ’s auditors or inspectors or any of Lender's ’s representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (iiB) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iiiC) the performance of such audits, inspections and or reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectors’s inspector, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvementsany improvements.