Common use of Certain Additional Rights of Lender Clause in Contracts

Certain Additional Rights of Lender. Notwithstanding anything to the contrary contained in this Agreement, Lender shall have: (a) upon not less than fifteen (15) Business Days’ prior written notice to Borrower, the right to request and to hold a meeting at Lender’s office in New York, New York no more than two (2) times during any calendar year to consult with an officer of Borrower that is familiar with the financial condition of Borrower and the operation of the Property and Pledged Collateral regarding such significant business activities and business and financial developments of Borrower as are specified by Lender in writing in the request for such meeting; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances; and (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower at any reasonable times upon reasonable notice no more than four (4) times during any calendar year, provided that any such examination shall be conducted so as not to unreasonably interfere with the business of Borrower, guests or any Tenants or other occupants of the Property The rights described above in this Section 10.25 may be exercised by any entity which Controls Lender.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc), Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc)

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Certain Additional Rights of Lender. Notwithstanding anything to the contrary contained in this Agreement, Lender shall have: (a) upon not less than fifteen (15) Business Days’ prior written notice to Borrower, the right to request and to hold a meeting at Lender’s office in New York, New York no more than two (2two(2) times during any calendar year to consult with an officer of Borrower that is familiar with the financial condition of Borrower or Operating Lessee and the operation of the Property and Pledged IP Collateral regarding such significant business activities and business and financial developments of Borrower or Operating Lessee as are specified by Lender in writing in the request for such meeting; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances; and (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower and Operating Lessee at any reasonable times upon reasonable notice no more than four (4) times during any calendar year, provided that any such examination shall be conducted so as not to unreasonably interfere with the business of Borrower, Operating Lessee, guests or any Tenants or other occupants of the Property The rights described above in this Section 10.25 may be exercised by any entity which Controls Lender.

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotels & Resorts, Inc)

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Certain Additional Rights of Lender. Notwithstanding anything to the contrary contained in this Agreement, Lender shall have: (a) upon not less than fifteen (15) Business Days’ prior written notice to Borrower, the right to request and to hold a meeting at Lender’s office in New York, New York no more than two four (24) times during any calendar year to consult with an officer of Borrower that is familiar with the financial condition of each Borrower or other Loan Party and the operation of the Property and Pledged Collateral Individual Properties regarding such significant business activities and business and financial developments of Borrower or other Loan Party as are specified by Lender in writing in the request for such meeting; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances; and (b) the right, in accordance with the terms of this Agreement, to examine the books and records of Borrower and the other Loan Parties at any reasonable times upon reasonable notice no more than four (4) times during any calendar year, provided that any such examination shall be conducted so as not to unreasonably interfere with the business of Borrower, the other Loan Parties, guests or any Tenants or other occupants of the Property any Individual Property. The rights described above in this Section 10.25 may be exercised by Lender on behalf of any entity Person which Controls Lender.

Appears in 1 contract

Samples: Loan Agreement (ESH Hospitality LLC)

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