Common use of Cooperation with Lender Clause in Contracts

Cooperation with Lender. 60. Contractor shall cooperate and cause its subcontractors to cooperate and abide by all reasonable requirements of any lender, other financial institution or government entity (including FHA which provides construction or permanent financing for the Project, as well as any consultant employed by any of them) (herein collectively called the "Lender"). Without limiting the generality of the foregoing, Contractor will supply or cause to be supplied all information and documentation requested by Construction Manager, Owner or Lender to comply with the requirements of Lender. Contractor also will provide to Construction Manager upon request copies of purchase orders and subcontracts covering labor, materials, equipment, or furnishings to be provided pursuant to this Contract, and the names of all parties with whom Contractor has subcontracted, or intends to do so. Lender will be entitled to receive copies of any notice from Contractor of default on the part of Owner, and Lender will have the right (but not the obligation) to cure such default on behalf of Owner within a reasonable period of time after Owner's failure to do so. Lender may (but shall not be obligated to) assume Owner's rights and obligations hereunder following the occurrence and during the continuance of any default by Owner under its construction loan with Lender. Upon Construction Manager’s, Owner's or Lender's request, Contractor will execute and deliver an amendment to this Agreement to reflect Contractor's obligations with respect to the construction or permanent financing after such financing has been arranged, including reasonable modifications to this Agreement requested by Lender, as well as Contractor's agreement to perform its obligations hereunder for the benefit of Lender if Owner defaults under the Construction Loan provided all payments and other obligations required hereunder to be made or performed by Owner are made or performed by Lender. INSPECTION AND AUDIT

Cooperation with Lender. 60. Contractor shall cooperate and cause its subcontractors to cooperate and abide by all reasonable requirements of any lender, other financial institution or government entity (including FHA which provides construction or permanent financing for the Project, as well as any consultant employed by any of them) (herein collectively called the "Lender"). Without limiting the generality of the foregoing, Contractor will supply or cause to be supplied all information and documentation requested by Construction Manager, Owner or Lender to comply with the requirements of Lender. Contractor also will provide to Construction Manager upon request copies of purchase orders and subcontracts covering labor, materials, equipment, or furnishings to be provided pursuant to this Contract, and the names of all parties with whom Contractor has subcontracted, or intends to do so. Lender Xxxxxx will be entitled to receive copies of any notice from Contractor of default on the part of Owner, and Lender Xxxxxx will have the right (but not the obligation) to cure such default on behalf of Owner within a reasonable period of time after Owner's failure to do so. Lender may (but shall not be obligated to) assume Owner's rights and obligations hereunder following the occurrence and during the continuance of any default by Owner under its construction loan with Lender. Upon Construction Manager’s, Owner's or LenderXxxxxx's request, Contractor will execute and deliver an amendment to this Agreement to reflect Contractor's obligations with respect to the construction or permanent financing after such financing has been arranged, including reasonable modifications to this Agreement requested by LenderXxxxxx, as well as Contractor's agreement to perform its obligations hereunder for the benefit of Lender if Owner defaults under the Construction Loan provided all payments and other obligations required hereunder to be made or performed by Owner are made or performed by LenderXxxxxx. INSPECTION AND AUDIT