Common use of Compliance with Laws; Plans and Specifications; Correction of Construction Work Clause in Contracts

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower shall use commercially reasonable efforts to ensure that all of the Tenant Improvements are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative Agent, Borrower shall deliver to Administrative Agent copies of all plans and specifications for any Tenant Improvements to the extent available to Borrower. Prior to commencing any construction of any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative Agent, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative Agent. Administrative Agent and its representatives shall have access to the Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property and to conduct such inspections thereof at its sole cost and expense, and subject to the rights of tenants under their leases, provided that if a Default exists, such inspection shall be at Borrower’s expense, as they shall deem necessary or desirable for the protection of the interests of Administrative Agent.

Appears in 2 contracts

Samples: Loan Agreement (KBS Strategic Opportunity REIT II, Inc.), Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

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Compliance with Laws; Plans and Specifications; Correction of Construction Work. Each Borrower shall use commercially reasonable efforts to ensure that all of the Capital Improvements and the Tenant Improvements constructed by such Borrower are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative AgentLender, each Borrower shall deliver to Administrative Agent Lender copies of all plans and specifications for any Capital Improvements and all tenant improvement plans and specifications for any Tenant Improvements to the extent available to such Borrower. Prior to commencing any construction of any Capital Improvements or any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative AgentLender, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 1 of Schedule 2 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative AgentLender. Administrative Agent Lender and its representatives shall have access to the each Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property Property and to conduct such inspections thereof at its their sole cost and expense, and subject to the rights of tenants under their leases, provided that if a an Event of Default exists, such inspection shall be at Borrower’s Borrowers’ expense, as they shall deem necessary or desirable for the protection of the interests of Administrative AgentLender.

Appears in 2 contracts

Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower shall use commercially reasonable efforts to ensure that all of the Capital Improvements and the Tenant Improvements are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative AgentLender, Borrower shall deliver to Administrative Agent Lender copies of all plans and specifications for any Capital Improvements and all tenant improvement plans and specifications for any Tenant Improvements to the extent available to Borrower. Prior to commencing any construction of any the Capital Improvements or any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative AgentLender, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 1 of Schedule 2 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative AgentLender. Administrative Agent Lender and its representatives shall have access to the Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property and to conduct such inspections thereof at its their sole cost and expense, and subject to the rights of tenants under their leases, provided that if a an Event of Default exists, such inspection shall be at Borrower’s expense, as they shall deem necessary or desirable for the protection of the interests of Administrative AgentLender.

Appears in 2 contracts

Samples: Term Loan Agreement, Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower shall use commercially reasonable efforts to ensure that all of the Capital Improvements and the Tenant Improvements are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative Agent, Borrower shall deliver to Administrative Agent copies of all plans and specifications for any Capital Improvements and Tenant Improvements to the extent available to Borrower. Prior to commencing any construction of the Capital Improvements and or any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative Agent, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative Agent. Administrative Agent and its representatives shall have access to the Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property and to conduct such inspections thereof at its sole cost and expense, and subject to the rights of tenants under their leases, provided that if a Default exists, such inspection shall be at Borrower’s expense, as they shall deem necessary or desirable for the protection of the interests of Administrative Agent.

Appears in 2 contracts

Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower shall use commercially reasonable efforts to ensure that all of the Capital Improvements and the Tenant Improvements are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative AgentLender, Borrower shall deliver to Administrative Agent Lender copies of all plans and specifications for any Capital Improvements and all tenant improvement plans and specifications for any Tenant Improvements to the extent available to Borrower. Prior to commencing any construction of any Capital Improvements or any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative AgentLender, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 1 of Schedule 2 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative AgentLender. Administrative Agent Lender and its representatives shall have access to the Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property and to conduct such inspections thereof at its their sole cost and expense, and subject to the rights of tenants under their leases, provided that if a an Event of Default exists, such inspection shall be at Borrower’s expense, as they shall deem necessary or desirable for the protection of the interests of Administrative AgentLender.

Appears in 1 contract

Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

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Compliance with Laws; Plans and Specifications; Correction of Construction Work. Each Borrower shall use commercially reasonable efforts to ensure that all of the Tenant Improvements constructed by such Borrower are constructed in accordance with all applicable (whether present or future) Laws. Upon request of Administrative AgentLender, each Borrower shall deliver to Administrative Agent Lender copies of all plans and specifications for any Tenant Improvements all tenant improvement to the extent available to such Borrower. Prior to commencing any construction of any Tenant Improvements, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative AgentLender, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 1 of Schedule 2 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative AgentLender. Administrative Agent Lender and its representatives shall have access to the each Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property Property and to conduct such inspections thereof at its their sole cost and expense, and subject to the rights of tenants under their leases, provided that if a an Event of Default exists, such inspection shall be at Borrower’s Borrowers’ expense, as they shall deem necessary or desirable for the protection of the interests of Administrative AgentLender.

Appears in 1 contract

Samples: Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower shall use commercially reasonable efforts to ensure that all of the Capital Improvements, the Tenant Improvements and the Other Tenant Improvements are constructed in accordance with all applicable (whether present or futurethen-existing) Laws. Upon written request of Administrative Agent, Borrower shall deliver to Administrative Agent copies of all plans and specifications for any Capital Improvements, Tenant Improvements and Other Tenant Improvements, as applicable, to the extent reasonably available to Borrower. Prior to commencing any construction of any Capital Improvements, Tenant Improvements or Other Tenant Improvements, as applicable, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable). Promptly following any demand by Administrative Agent, Borrower shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative Agentany applicable Governmental Authorities or any applicable tenant. Administrative Agent and its representatives shall have access to the Property at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property and to conduct such inspections thereof at its sole cost and expense, and subject to the rights of tenants under their leases, provided that if a Default exists, such inspection shall be at Borrower’s expense, as they shall deem necessary or desirable for the protection of the interests of Administrative Agent.

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust II, Inc.)

Compliance with Laws; Plans and Specifications; Correction of Construction Work. Borrower Borrowers shall use commercially reasonable efforts to ensure that all of the Capital Improvements and Tenant Improvements Improvements, as applicable, are constructed in accordance with all applicable (whether present or future) Laws. Upon written request of Administrative Agent, Borrower Borrowers shall deliver to Administrative Agent copies of all plans and specifications for any Capital Improvements and Tenant Improvements Improvements, as applicable, to the extent available to BorrowerBorrowers. Prior to commencing any construction of any Capital Improvements or Tenant Improvements, as applicable, the applicable plans and specifications shall be approved by all applicable Governmental Authorities and any tenant (if applicable)whose approval is required. Promptly following any written demand by Administrative Agent, Borrower Borrowers shall correct or cause the correction of any work that fails to comply with the requirements of this Section 3 and any material departures or deviations from the applicable improvement plans and specifications not approved by Administrative Agent. Administrative Agent and its representatives shall have access to the Property Properties at all reasonable times and upon no less than twenty-four (24) hours prior notice, and shall have the right to enter the property Properties and to conduct such inspections thereof at its their sole cost and expense, and subject to the rights of tenants under their leases, provided that if a Default exists, such inspection shall be at Borrower’s expenseLeases, as they shall deem necessary or desirable for the protection of the interests of Administrative AgentAgent and Lenders.

Appears in 1 contract

Samples: Loan Modification and Extension Agreement (KBS Real Estate Investment Trust III, Inc.)

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