Common use of Certain Additional Rights of Lender (VCOC) Clause in Contracts

Certain Additional Rights of Lender (VCOC). Notwithstanding anything to the contrary contained in this Agreement, Lender shall have: (a) the right to routinely consult with and advise Borrower’s management regarding the significant business activities and business and financial developments of Borrower, Senior Mezzanine Borrower and Mortgage Borrower, provided that any such advice or consultation shall be completely nonbinding on Borrower, and; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances; (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower, Senior Mezzanine Borrower and Mortgage Borrower at any reasonable times upon reasonable notice; (c) the right, in accordance with the terms of this Agreement, including, without limitation, Section 5.1.11 hereof, to receive monthly, quarterly and year end financial reports, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness, in each case to the extent explicitly set forth herein; and (d) the right, without restricting any other rights of Lender under this Agreement (including any similar right), to reasonably approve any acquisition by Borrower, Senior Mezzanine Borrower or Mortgage Borrower of any other significant real property. The rights described above in this Section 10.26 may be exercised by any entity which owns and controls, directly or indirectly, substantially all of the interests in Lender.

Certain Additional Rights of Lender (VCOC). Notwithstanding anything to the contrary contained in this Agreement, Lender shall have: (a) the right to routinely consult with and advise Borrower’s management regarding the significant business activities and business and financial developments of Borrower, Senior Mezzanine Borrower and Mortgage Borrower, provided that any such advice or consultation shall be completely nonbinding on Borrower, and; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances; (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower, Senior Mezzanine Borrower and Mortgage Borrower at any reasonable times upon reasonable notice; (c) the right, in accordance with the terms of this Agreement, including, without limitation, Section 5.1.11 hereof, to receive monthly, quarterly and year end financial reports, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness, in each case to the extent explicitly set forth herein; and (d) the right, without restricting any other rights of Lender under this Agreement (including any similar right), to reasonably approve any acquisition by Borrower, Senior Mezzanine Borrower or Mortgage Borrower of any other significant real property. The rights described above in this Section 10.26 that are afforded to any Lender may be exercised by any entity which owns and controls, directly or indirectly, substantially all of the interests in such Lender.

Certain Additional Rights of Lender (VCOC). Notwithstanding anything to the contrary contained in this Agreementthe Loan Documents, Lender shall have: (a) the right to routinely consult with and advise Borrower’s management regarding the significant business activities and business and financial developments of Borrower, Senior Mezzanine Borrower including, but not limited to, with respect to (i) annual operating and Mortgage Borrowercapital budgets, provided that (ii) insurance, (iii) material leases and lease forms, (iv) property management and leasing agents and amendments, modifications or termination of any agreements with such advice or consultation shall be completely nonbinding on Borroweragents, andand (v) changes in business; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances. Consultation meetings should occur on a regular basis (no less frequently than quarterly) with Lender having the right to call special meetings at any reasonable times upon reasonable notice; (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower, Senior Mezzanine Borrower and Mortgage Borrower at any reasonable times upon reasonable notice; (c) the right, in accordance with the terms of this Agreement, including, without limitation, Section 5.1.11 4.1.7 hereof, to receive monthly, quarterly and year year-end financial reports, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness, in each case to the extent explicitly set forth herein; and (d) the right, without restricting any other rights of Lender under this Agreement (including any similar right), to reasonably approve any acquisition by Borrower, Senior Mezzanine Borrower or Mortgage Borrower of any other significant real property. The rights described above in this Section 10.26 may be exercised by any entity which owns and controls, directly or indirectly, substantially all property (other than personal property required for the day to day operation of the interests in LenderProperty) and to restrict any financing and/or Indebtedness with respect thereto.

Certain Additional Rights of Lender (VCOC). Notwithstanding anything to the contrary contained in this Agreement, at all times and from time to time until the Debt has been indefeasibly repaid in full, each Lender shall have: (a) the right to routinely consult with and advise Borrower’s, Mezzanine A Borrower’s and Mortgage Borrower’s management regarding the significant business activities and business and financial developments of Borrower, Senior Mezzanine A Borrower and Mortgage Borrower, provided that any such advice or consultation shall be completely nonbinding on Borrower, and; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances. Consultation meetings should occur on a regular basis (no less frequently than quarterly) with Lender having the right to call special meetings at any reasonable times and upon reasonable advance notice; (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower, Senior Mezzanine A Borrower and Mortgage Borrower at any reasonable times upon reasonable notice; (c) the right, in accordance with the terms of this Agreement, including, without limitation, Section 5.1.11 hereof, to receive monthly, quarterly and year year-end financial reports, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness, in each case to the extent explicitly set forth herein; and (d) the right, without restricting any other rights of Lender Administrative Agent under this Agreement (including any similar right), to reasonably approve any acquisition by Borrower, Senior Mezzanine A Borrower or Mortgage Borrower of any other significant real property. The rights described above in this Section 10.26 may be exercised by any entity which owns and controls, directly or indirectly, substantially all property (other than personal property required for the day to day operation of the interests in LenderProperty).