Common use of Estoppel Statement Clause in Contracts

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written request from Lender, execute, acknowledge and deliver to the Lender, an Officer’s Certificate, stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided that Borrower shall not be required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuing.

Appears in 10 contracts

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

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Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior After written request from by Lender, executeBorrower shall within ten (10) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the Outstanding Principal Balance of the Note, (ii) the Interest Rate, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of following Lender’s written request, tenant an estoppel certificates certificate from each Tenant under any Material Lease entered into after in the Closing Date form required pursuant to its Lease or otherwise in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided reasonably satisfactory to Lender; provided, that Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar yearsix (6) month period. (c) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days following Lender’s written request, an estoppel certificate from the Condominium Board in the form required pursuant to the Condominium Declaration or otherwise in form and substance reasonably satisfactory to Lender; provided, however, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under certificate more than one (1) time in any of the Loan Documents has occurred and is continuingsix (6) month period.

Appears in 2 contracts

Samples: Loan Agreement (Alexanders Inc), Loan Agreement (Alexanders Inc)

Estoppel Statement. (a) After request by Lender or Servicer, Borrower shallshall within ten (10) Business Days (but, from time provided there exists no Default or Event of Default, no more often than twice during the course of each Fiscal Year of Borrower) furnish to timeLender or Servicer, upon thirty as applicable, a statement, duly acknowledged and certified, setting forth (30i) days’ prior written request from Lenderthe original principal amount of the Loan, execute(ii) the unpaid principal amount of the Loan, acknowledge and deliver (iii) the Interest Rate of the Loan, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating and (vi) that the Note, this Agreement Agreement, the Mortgages and the other Loan Documents are unmodified valid, legal and in full force binding obligations and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially exercise reasonable best efforts to deliver to Lender, within thirty (30) days of Lender’s Lender or Servicer upon request, tenant estoppel certificates from each Tenant under any Material Lease entered into after space tenant leasing space at the Closing Date Properties, and shall exercise reasonable best efforts to deliver an estoppel certificate from each ground lessor, each in substantially the form and substance of the estoppel certificate set forth in Exhibit G reasonably satisfactory to Lender, provided that Borrower shall not be required to deliver such certificates more frequently than one time two (2) times in any calendar year; provided. (c) After request by Borrower, howeverbut not more than twice during the course of each year, Lender (or Servicer, on behalf of Lender) shall furnish Borrower with a statement setting forth (i) the original principal amount of the Loan, (ii) the unpaid principal amount of the Loan, (iii) the Interest Rate of the Loan, (iv) the date installments of interest and/or principal were last paid, and (v) that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuinghave not been modified or if modified, giving particulars of such modification.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Harrahs Entertainment Inc)

Estoppel Statement. (a) Borrower shall, from time shall deliver to time, upon thirty (30) days’ prior written request from Lender, executewithin ten (10) Business Days after Lender’s written request, acknowledge a statement, duly acknowledged and deliver certified, setting forth (i) the original principal amount of the Loan, (ii) the unpaid principal amount of the Loan, (iii) the interest rate of the Loan, (iv) the date installments of principal and/or interest were last paid, (v) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (vi) that this Agreement and the other Loan Documents are unmodified valid, legal and in full force binding obligations of Borrower and effect have not been modified (or, if there have been modificationsmodified, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modificationsmodification), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of after Lender’s request, tenant an estoppel certificates certificate from each Tenant under any Material Lease entered into after the Closing Date in substantially the form and substance reasonably satisfactory to Lender; provided that (i) Borrower shall only be required to use commercially reasonable efforts to obtain an estoppel certificate from any Tenant, (ii) such estoppel certificate may be in the form required under such Lease, and (iii) after the final Securitization of the estoppel certificate set forth in Exhibit G provided that Loan, Borrower shall not be required to deliver such certificates estoppel certificate from any Tenant more frequently than one time two (2) times in any calendar year. (c) Borrower shall use commercially reasonable deliver to Lender, within forty-five (45) days after Lender’s request, an estoppel certificate from each party under the REA in form and substance reasonably satisfactory to Lender; provided, however, provided that there (i) Borrower shall be no limit on the number of times Borrower may only be required to use commercially reasonable efforts to obtain such certificates if a Default hereunder or estoppel certificate and (ii) such estoppel certificate may be in the form required under any of the Loan Documents has occurred and is continuingREA.

Appears in 2 contracts

Samples: Loan Agreement (Ionis Pharmaceuticals Inc), Loan Agreement (Ionis Pharmaceuticals Inc)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within five (5) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the unpaid principal amount of the Notes, (ii) the Applicable Interest Rate of the Notes, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially reasonable efforts deliver to Lender, within thirty (30) days after request, an estoppel certificate from each Tenant under any Lease (provided that Borrower shall only be required to use commercially reasonable efforts to obtain an estoppel certificate from any Tenant not required to provide an estoppel certificate under its Lease); provided that such certificate may be in the form required under such Lease; provided further that Borrower shall not be required to deliver such certificates more frequently than two (2) times in any calendar year. (c) Borrower shall use commercially reasonable efforts deliver to Lender, upon request, estoppel certificates from each party under the REA; provided that such certificates may be in the form required under the REA. (d) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date an estoppel certificate and subordination, non-disturbance and attornment agreement duly executed and delivered by The Boston Consulting Group and (where required) Borrower, in substantially the each case in form and substance of reasonably satisfactory to Lender (and if applicable in the estoppel certificate set forth in Exhibit G provided that Borrower shall not be form required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on under the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuinglease with The Boston Consulting Group).

Appears in 2 contracts

Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executewhich shall not occur more than one (1) time per calendar year unless a default or an Event of Default then exists, acknowledge each Individual Borrower shall within ten (10) days furnish Lender with a statement, duly acknowledged and deliver certified, setting forth (i) the original principal amount of the Note, (ii) the unpaid principal amount of the Note, (iii) the Applicable Interest Rate of the Note, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating claimed by such Individual Borrower, and (vi) that the Note, this Agreement Agreement, the Mortgage and the other Loan Documents are unmodified valid, legal and in full force binding obligations and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Each Individual Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s Lender upon request, tenant estoppel certificates from each commercial Tenant under any Material Lease entered into after the Closing Date leasing space at its Individual Property in substantially the form and substance of reasonably satisfactory to Lender (in the estoppel certificate set forth in Exhibit G form attached to the applicable Tenant’s lease, if required pursuant to such Lease) provided that such Individual Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar year; providedyear unless a default or an Event of Default then exists. (c) Within thirty (30) days of a written request by any Individual Borrower, howeverLender shall deliver to such Individual Borrower a statement setting forth the items described at (a)(i), (ii), (iii) and (iv) of this Section 5.1.15 provided that there Lender shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under more frequently than two (2) times in any of the Loan Documents has occurred and is continuingcalendar year.

Appears in 2 contracts

Samples: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written request from Lender, execute, acknowledge and deliver to the Lender, an Officer’s Certificate, stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, information with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Event of Default exists hereunder or, if any Event of Default shall exist hereunder, specify such Event of Default and the steps being taken to cure such Event of Default. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty fifteen (3015) days Business Days of Lender’s request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date in substantially the form and substance reasonably satisfactory to Lender, provided, that, so long as an Event of the estoppel certificate set forth in Exhibit G provided that Default has not occurred and is not continuing, Borrower shall not be required to deliver such certificates from any one tenant more frequently than two times in any calendar year and shall not be required to make a blanket request for estoppel certificates from all of the tenants at the Property more than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuingevery twelve months.

Appears in 2 contracts

Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (American Financial Realty Trust)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within ten (10) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, setting forth (i) the original principal amount of the Loan, (ii) the Outstanding Principal Balance, (iii) the Interest Rate of the Loan, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the Lenderperformance of the Obligations, an Officer’s Certificateif any, stating and (vi) that the Note, this Agreement Agreement, the Security Instrument and the other Loan Documents are unmodified valid, legal and in full force binding obligations of Borrower and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s Lender upon request, tenant estoppel certificates from each commercial Tenant under any Material Lease entered into after leasing space at the Closing Date Property in substantially the form and substance reasonably satisfactory to Lender (provided that such certificates may be in the form required under the terms of the estoppel certificate set forth in Exhibit G applicable Tenant’s Lease) provided that Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar yearyear unless such request is made in connection with a Securitization or after the occurrence of an Event of Default. (c) Borrower shall use commercially reasonable efforts to deliver to Lender, upon request, estoppel certificates from each party under the Operating Covenants; provided, however, provided that there shall be no limit on the number of times Borrower such certificates may be in the form required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuingOperating Covenants.

Appears in 2 contracts

Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Estoppel Statement. (a) After request by Agent, Borrower shallshall within ten (10) days furnish Agent with a statement, from time to timeduly acknowledged and certified, upon thirty setting forth (30i) days’ prior written request from Lenderthe amount of the original principal amount of the Notes, execute(ii) the unpaid principal amount of the Note, acknowledge and deliver (iii) the date installments of interest and/or principal were last paid, (iv) any known offsets or defenses to the Lenderpayment of the Loan, an Officer’s Certificateif any, stating and (v) that the Notes, this Agreement Agreement, the Mortgage and the other Loan Documents are unmodified valid, legal and in full force binding obligations and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) If a commercially reasonable reason exists, Borrower shall use commercially reasonable good faith efforts to deliver to Lender, within thirty (30) days of Lender’s request, tenant Agent upon request Tenant estoppel certificates from each commercial Tenant under any Material Lease entered into after leasing space at the Closing Date Project in substantially the form and substance reasonably satisfactory to Agent; provided that, unless an Event of the estoppel certificate set forth in Exhibit G provided that Default exists, Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar year. (c) If a commercially reasonable reason exists, Borrower shall use good faith efforts to deliver to Agent upon request estoppel certificates from each party under the REA; providedprovided that such certificates may be in the form required under the REA; provided further that, howeverunless and Event of Default exists, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under any more than three (3) times during the term of the Loan and not more frequently than one (1) time in any calendar year. (d) After request by Borrower, Agent shall within ten (10) Business Days furnish Borrower with a statement, duly acknowledged and certified, stating (i) the unpaid principal amount of the Notes, (ii) the date installments of interest and/or principal were last paid and (iii) whether or not Agent has sent any notice of default under the Loan Documents has occurred and is continuingwhich remains uncured in the opinion of Agent.

Appears in 1 contract

Samples: Loan Agreement (Taubman Centers Inc)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within five (5) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the Outstanding Principal Balance of the Note, (ii) the Interest Rate, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) After request by Borrower, Lender shall within ten (10) Business Days furnish Borrower with a statement, duly acknowledged and certified, stating (i) the Outstanding Principal Balance of the Note, (ii) the Interest Rate, (iii) the date installments of interest and/or principal were last paid, and (iv) whether or not Lender has sent any notice of default under the Loan Documents which remains uncured in the opinion of Lender. (c) Borrower shall deliver to Lender, upon request, an estoppel certificate from each Tenant under any Lease (provided that Borrower shall only be required to use commercially reasonable efforts to deliver obtain an estoppel certificate from any Tenant not required to Lenderprovide an estoppel certificate under its Lease); provided, within thirty (30) days of Lender’s request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date that such certificate may be in substantially the form required under such Lease; and substance of the estoppel certificate set forth in Exhibit G provided provided, further, that Borrower shall not be required to deliver such certificates more frequently than one time two (2) times in any calendar yearconsecutive 12 months. (d) Borrower shall deliver to Lender, upon request, estoppel certificates from each party under the REA; provided, howeverthat such certificates may be in the form required under the REA; and, provided, further, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under any of more than three (3) times during the Loan Documents has occurred Term and is continuingnot more frequently than once per calendar year.

Appears in 1 contract

Samples: Loan Agreement (O'Donnell Strategic Industrial REIT, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days' prior written request from Lender, execute, acknowledge and deliver to the Lender, an Officer’s 's Certificate, stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s 's Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s 's request, tenant estoppel certificates from each Tenant under any Material Lease Leases entered into after the Closing Date in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided that Borrower shall not be required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a an Event of Default hereunder or under any of the Loan Documents has occurred and is continuing.

Appears in 1 contract

Samples: Loan and Security Agreement (CNL Hotels & Resorts, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within five (5) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the Outstanding Principal Balance of the Note, (ii) the Interest Rate, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall deliver to Lender, upon request, an estoppel certificate from each Tenant under any Lease (provided that Borrower shall only be required to use commercially reasonable efforts to deliver obtain an estoppel certificate from any Tenant not required to Lender, within thirty (30provide an estoppel certificate under its Lease) days of Lender’s request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided reasonably satisfactory to Lender; provided, that Borrower shall not be required to deliver such certificates more frequently than one time three (3) times in any calendar year, and provided that Borrower shall not be required to deliver such certificates with respect to any Tenant that is not subject to a Major Lease. (c) Borrower shall deliver to Lender, upon request, estoppel certificates from each party under any Operations Agreement in form and substance reasonably satisfactory to Lender; provided, however, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuing.more than three

Appears in 1 contract

Samples: Loan Agreement

Estoppel Statement. (a) After request by Lender and not more than one time in any calendar year, Borrower shalland/or Operating Lessee, from time to timeas applicable, upon thirty shall within ten (3010) days’ prior written request from LenderBusiness Days furnish Lender with a statement, executeduly acknowledged and certified, acknowledge and deliver stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) After request by Borrower, provided no Event of Default exists, Lender shall within ten (10) Business Days furnish Borrower with a statement, duly acknowledged and certified, stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid and (iv) whether or not Lender has sent any notice of default under the Loan Documents which remains uncured in the opinion of Lender. (c) Borrower and/or Operating Lessee, as applicable, shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s upon request, tenant an estoppel certificates certificate from each party under each Material Agreement and the REA’s and each Tenant under any Material Lease entered into after the Closing Date Lease, provided that, such certificate may be in substantially the form and substance of the estoppel certificate set forth in Exhibit G required under such Material Agreement or REA or Lease, as applicable; and, provided further, that Borrower and/or Operating Lessee, as applicable, shall not be required to deliver such certificates more frequently than one (1) time in any calendar yearyear (other than in connection with an Event of Default or a Securitization). (d) Borrower and/or Operating Lessee, as applicable, shall use commercially reasonable efforts to deliver to Lender, upon request, an estoppel certificate or comfort letter, as applicable, in form and substance acceptable to Lender, from Franchisor or Brand Manager, as applicable; provided, howeverthat neither Borrower and/or Operating Lessee, that there as applicable, shall be no limit on the number of times Borrower may be required to obtain deliver such certificates if comfort letter or estoppel certificate, as applicable, more frequently than one (1) time in any calendar year (other than in connection with an Event of Default or a Default hereunder Securitization (and any reasonable actual out-of-pocket costs incurred by Borrower in connection with obtaining such estoppel or under any of the Loan Documents has occurred and is continuingcomfort letter in connection with a Securitization shall be paid by Lender)).

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Prime, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior After written request from Lenderby Lxxxxx, executeBorrower shall within ten (10) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, setting forth (i) the original principal amount of the Note, (ii) the unpaid principal amount of the Note, (iii) the Interest Rate of the Note, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating claimed by Bxxxxxxx, and (vi) that the Note, this Agreement, the Pledge Agreement and the other Loan Documents are unmodified valid, legal and binding obligations (subject only to applicable bankruptcy, insolvency and similar laws affecting rights of creditors generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in full force a proceeding in equity or at law) and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s Lender upon written request, tenant estoppel certificates from each commercial Tenant under any Material Lease entered into after leasing space at the Closing Date Properties in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided reasonably satisfactory to Lender; provided, that Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar year. (c) Borrower shall use commercially reasonable efforts to deliver to Lender upon written request, estoppel certificates from each party to any REAs, in form and substance reasonably satisfactory to Lender; provided, however, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under more frequently than one (1) time in any of the Loan Documents has occurred and is continuingcalendar year.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (W. P. Carey Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeFee Borrower and Leasehold Borrower shall within five (5) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) After request by Borrower, Lender shall within ten (10) Business Days furnish Borrower with a statement, duly acknowledged and certified, stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid and (iv) whether or not Lender has sent any notice of default under the Loan Documents which remains uncured in the opinion of Lender. (c) Borrower shall deliver to Lender, upon request, an estoppel certificate from each Tenant under any Lease (provided that Borrower shall only be required to use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s request, tenant obtain an estoppel certificates certificate from each Tenant under any Material Lease entered into after the Closing Date Tenant); provided that such certificate may be in substantially the form and substance of the estoppel certificate set forth in Exhibit G required under such Lease; provided further that Borrower shall not be required to deliver such certificates more frequently than one time once in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuing.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Estoppel Statement. (a) Borrower shall, from time shall deliver to time, upon thirty (30) days’ prior written request from Lender, executewithin five (5) Business Days after Lender’s request, acknowledge a statement, duly acknowledged and deliver certified, setting forth (i) the original principal amount of the Loan, (ii) the unpaid principal amount of the Loan, (iii) the interest rate of the Loan, (iv) the date installments of principal and/or interest were last paid, (v) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (vi) that this Agreement and the other Loan Documents are unmodified valid, legal and in full force binding obligations of Borrower and effect have not been modified (or, if there have been modificationsmodified, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modificationsmodification), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall deliver to Lender, within thirty (30) days after Lender’s request, an estoppel certificate from each Tenant under any Lease in form and substance reasonably satisfactory to Lender; provided that (i) Borrower shall only be required to use commercially reasonable efforts to obtain an estoppel certificate from any Tenant not required to provide an estoppel certificate under its Lease, (ii) such estoppel certificate may be in the form required under such Lease, and (iii) after the final Securitization of the Loan, Borrower shall not be required to deliver such estoppel certificate from any Tenant more frequently than two (2) times in any calendar year. (c) Borrower shall use its commercially reasonable efforts to deliver to Lender, within thirty (30) days of after Lender’s request, tenant an estoppel certificates certificate from each Tenant party under any Material Lease entered into after the Closing Date REA in substantially the form and substance of the reasonably satisfactory to Lender; provided that such estoppel certificate set forth in Exhibit G provided that Borrower shall not be required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be in the form required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuingREA.

Appears in 1 contract

Samples: Loan Agreement (Consolidated Tomoka Land Co)

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Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days' prior written request from Lender, execute, acknowledge and deliver to the Lender, an Officer’s 's Certificate, stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s 's Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s 's request, tenant estoppel certificates from each Tenant under any Material Lease Leases entered into after the Closing Date in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided that Borrower shall not be required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuing.

Appears in 1 contract

Samples: Loan and Security Agreement (CNL Hotels & Resorts, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrowers shall within ten (10) days furnish Lender with a statement addressed to Lender, acknowledge its successors and deliver assigns, duly acknowledged and certified, setting forth (i) the unpaid Principal, (ii) the Interest Rate, (iii) the date installments of interest and/or Principal were last paid, (iv) any offsets or defenses to the Lenderpayment of the Debt known to Borrower, an Officer’s Certificate, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as and have not been modified and setting forth or if modified, giving particulars of such modifications)modification. Borrower shall not be required to deliver more than one (1) such estoppels per year, stating the amount unless (i) an Event of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, Default is then continuing or (ii) if required in connection with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaulta Securitization. (b) Borrower shall After request by Lender, subject to the terms, conditions and limitations under the Condominium Documents, Borrowers shall, use commercially reasonable efforts to deliver to Lender, Lender within thirty ten (3010) days of Lender’s request, tenant Business Days estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date Condo Association, in substantially the form and substance of substantially the same as the estoppel certificate set forth delivered by such Condo Association in Exhibit G provided connection with the origination of the Loan, provided, that Borrower Borrowers shall not be required to deliver such certificates more than three (3) times during the Term and not more frequently than one time in once per calendar year (or twice during any calendar year; providedyear in which a Securitization occurs). (c) After request by Borrower, howeverLender shall within ten (10) days furnish Borrower with a statement addressed to Borrower, its successors and assigns, duly acknowledged and certified, setting forth (i) the unpaid principal, (ii) the Interest Rate, (iii) the date installments of interest and/or Principal were last paid, (iv) that there it knows of no defaults under the Loan and (v) that the Loan Documents are in full force and effect and have not been modified or if modified, giving particulars of such modification. Lender shall be no limit on the number of times Borrower may not be required to obtain deliver more than two (2) such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuingestoppels per year.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital New York City REIT, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within ten (10) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, setting forth, to Borrower’s knowledge, (i) the original principal amount of the Loan, (ii) the unpaid principal amount of the Loan, (iii) the Interest Rate of the Loan, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating claimed by Borrower, and (vi) that the Notes, this Agreement Agreement, the Security Instruments and the other Loan Documents are unmodified valid, legal and in full force binding obligations and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower and Operating Lessee shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lender’s Lender upon request, tenant estoppel certificates from each commercial Tenant under any Material leasing space at the Properties pursuant to a Major Lease entered into after the Closing Date if required pursuant to such Lease in substantially the form and substance provided in connection with the closing of the estoppel certificate set forth in Exhibit G Loan, or consistent with the terms of the applicable Lease, or otherwise reasonably satisfactory to Lender; provided that Borrower and Operating Lessee shall not be required to deliver such certificates more frequently than one (1) time in any calendar year; provided. (c) Borrower shall use commercially reasonable efforts to deliver to Lender upon request, however, that there shall be no limit on estoppel certificates from the number Board of times Borrower may be required to obtain such certificates if a Default hereunder or under any each Condominium in form and substance provided in connection with the closing of the Loan Documents has occurred and is continuingLoan, or consistent with the terms of the applicable Condominium Documents, or otherwise reasonably satisfactory to Lender.

Appears in 1 contract

Samples: Loan Agreement (New York REIT, Inc.)

Estoppel Statement. (a) Borrower Each party hereunder shall, from time to timewithin ten (10) Business Days following a request of the other party hereto, upon thirty furnish a statement, duly acknowledged and certified, stating (30i) days’ prior written request from Lenderthe Outstanding Principal Balance of the Note, execute(ii) the Interest Rate, acknowledge (iii) the date installments of interest and/or principal were last paid, and deliver (iv) in the case of a statement furnished by Borrower, any offsets or defenses to the Lender, an Officer’s Certificate, stating that this Agreement payment and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount performance of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such DefaultObligations. (b) Borrower shall deliver to Lender, upon request, an estoppel certificate from each Tenant under any Lease in form and substance reasonably satisfactory to Lender (provided that Borrower shall only be required to use commercially reasonable efforts to deliver obtain an estoppel certificate from any Tenant not required to Lender, within thirty (30) days of Lender’s request, tenant provide an estoppel certificates from each Tenant certificate under any Material Lease entered into after the Closing Date its Lease); provided that such certificate may be in substantially the form required under such Lease; and substance of the estoppel certificate set forth in Exhibit G provided provided, further, that Borrower shall not be required to deliver such certificates more frequently than one time two (2) times in any calendar year. (c) Borrower shall deliver to Lender, upon request, an estoppel certificate from Ground Lessor in form and substance reasonably satisfactory to Lender; provided that such certificate may be in the form required under such Lease; and provided, howeverfurther, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under more frequently than two (2) times in any of the Loan Documents has occurred and is continuingcalendar year.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital New York City REIT, Inc.)

Estoppel Statement. (a) Borrower and/or Maryland Owner shall, from time to time, upon thirty (30) days’ prior written request from Lender, execute, acknowledge and deliver to the Lender, an Officer’s Certificateestoppel certificate, (i) stating that this Agreement and the other Loan Documents are unmodified and and, to the best of Borrower’s and/or Maryland Owner’s knowledge, in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating (ii) stating, to the best of Borrower’s and/or Maryland Owner’s knowledge, the amount of accrued and unpaid interest and the outstanding principal amount of the Note and (iii) containing such other information, qualified to the Best of Borrower’s Knowledge, information with respect to the BorrowerBorrower and/or Maryland Owner, the Property Properties or any one or more Individual Properties and the Loan as Lender shall reasonably request. The estoppel certificate shall also state specify either that that, to Borrower’s and/or Maryland Owner’s knowledge, no Default or Event of Default exists hereunder or, if any Default or Event of Default shall exist hereunder, specify such Default or Event of Default and the steps being taken to cure such Default or Event of Default. (b) Borrower and/or Maryland Owner shall use commercially reasonable efforts to deliver to Lender, within thirty fifteen (3015) days Business Days of Lender’s request, tenant estoppel certificates from each any requested Tenant under any Material Lease entered into after the Closing Date in substantially the form and substance of the estoppel certificate set forth in Exhibit G Schedule 5.1.17, provided that neither Borrower nor Maryland Owner shall not be required to deliver such certificates more frequently than one time in any calendar year; provided, however, that there shall be no limit on the number of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuing.twelve

Appears in 1 contract

Samples: Loan and Security Agreement (Urban Edge Properties)

Estoppel Statement. (a) Borrower shall, and Lender shall each from time to time, upon thirty (30) days' prior written request from Lenderthe other, execute, acknowledge and deliver to the Lenderrequesting party, an Officer’s Certificate's Certificate (or in the case of Lender a certificate signed by an authorized officer), stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, information with respect to the Borrower, the Property and the Loan as Lender applicable, as the requesting party shall reasonably request. The estoppel certificate shall also state either that to requesting party's knowledge no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and and, in the case of Borrower's estoppel, the steps being taken to cure such Default. (b) Borrower shall use request and make commercially reasonable efforts to deliver to Lender, within thirty twenty (3020) days Business Days of receipt of Lender’s 's written request, tenant estoppel certificates from each Tenant under any Material Lease entered into after commercial tenant leasing space at the Closing Date Property in substantially the form and substance of the estoppel certificate set forth in Exhibit EXHIBIT G or in the form any such Tenant is required to deliver pursuant to its Lease provided that that, except after the occurrence and during the continuance of an Event of Default, Borrower shall not be required to request or make commercially reasonable efforts to deliver such certificates with respect to any particular Tenant more frequently than one time in any calendar year; provided. Notwithstanding the foregoing, however, that there nothing contained in this Section 5.1.17 shall be no limit on the number require Borrower to issue or threaten to issue any notice of times Borrower may be required default to obtain any Tenant in connection with obtaining such certificates if a Default hereunder or under any otherwise interfere with or disturb the use and occupancy of the Loan Documents has occurred and is continuingProperty by any Tenant.

Appears in 1 contract

Samples: Loan and Security Agreement (Maguire Properties Inc)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior written After request from by Lender, executeBorrower shall within five (5) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment of the Debt, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) After request by Borrower, provided no Event of Default exists, Lender shall within ten (10) Business Days furnish Borrower with a statement, duly acknowledged and certified, stating (i) the unpaid principal amount of the Note, (ii) the Interest Rate of the Note, (iii) the date installments of interest and/or principal were last paid and (iv) whether or not Lender has sent any notice of default under the Loan Documents which remains uncured in the opinion of Lender. (c) Borrower shall deliver to Lender, upon written request, an estoppel certificate from each party under each Material Agreement and each Tenant under any Lease (provided that Borrower shall only be required to use commercially reasonable efforts to deliver obtain an estoppel certificate from any Tenant not required to Lender, within thirty (30) days of Lender’s request, tenant provide an estoppel certificates from each Tenant certificate under any Material Lease entered into after the Closing Date its Lease); provided that such certificate may be in substantially the form and substance of the estoppel certificate set forth in Exhibit G provided required under such Material Agreement or Lease; provided, further, that Borrower shall not be required to deliver such certificates more frequently than one time two (2) times in any calendar year; provided, however, that there shall be no limit on the number year (other than in connection with an Event of times Borrower may be required to obtain such certificates if Default or a Default hereunder or under any of the Loan Documents has occurred and is continuingSecuritization).

Appears in 1 contract

Samples: Loan Agreement (Hartman Short Term Income Properties XX, Inc.)

Estoppel Statement. (a) Borrower shall, from time to time, upon thirty (30) days’ prior After written request from Lenderby Xxxxxx, executeBorrower shall within ten (10) Business Days furnish Lender with a statement, acknowledge duly acknowledged and deliver certified, stating (i) the Outstanding Principal Balance of the Note, (ii) the Interest Rate, (iii) the date installments of interest and/or principal were last paid, (iv) any offsets or defenses to the Lenderpayment and performance of the Obligations, an Officer’s Certificateif any, stating and (v) that this Agreement and the other Loan Documents are unmodified and in full force and effect (orhave not been modified or if modified, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth giving particulars of such modifications), stating the amount of accrued and unpaid interest and the outstanding principal amount of the Note and containing such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan as Lender shall reasonably request. The estoppel certificate shall also state either that no Default exists hereunder or, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Defaultmodification. (b) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days of Lenderfollowing Xxxxxx’s written request, tenant an estoppel certificates certificate from each Tenant under any Material Lease entered into after for space at the Closing Date property other than from tenants exclusively leasing retail space and/or storage unit space in substantially the form required pursuant to its Lease or otherwise in form and substance of the estoppel certificate set forth in Exhibit G provided that reasonably satisfactory to Lender; provided, that, Borrower shall not be required to deliver such certificates more frequently than one (1) time in any calendar yearsix (6) month period. (c) Borrower shall use commercially reasonable efforts to deliver to Lender, within thirty (30) days following Xxxxxx’s written request, an estoppel certificate from the Condominium Board in the form required pursuant to the Condominium Declaration or otherwise in form and substance reasonably satisfactory to Lender; provided, however, that there Borrower shall be no limit on the number of times Borrower may not be required to obtain deliver such certificates if a Default hereunder or under certificate more than one (1) time in any of the Loan Documents has occurred and is continuingsix (6) month period.

Appears in 1 contract

Samples: Loan Agreement (Alexanders Inc)

Estoppel Statement. (a) After written request by Lender, Borrower shall, from time to timewithin fifteen (15) Business Days following receipt of such request, upon thirty (30) days’ prior written request from Lenderfurnish Lender with a statement, executeduly acknowledged and certified, acknowledge and deliver to the Lender, an Officer’s Certificate, stating that this Agreement and the other Loan Documents are unmodified and in full force and effect (or, if there have been modifications, that this Agreement and the other Loan Documents are in full force and effect as modified and setting forth such modifications), stating the amount of accrued and (i) unpaid interest and the outstanding principal amount of the Note Loan, (ii) the date installments of interest and/or principal were last paid, (iii) that the Loan Documents to which Borrower is a party are valid, legal and containing binding obligations of Borrower, subject to insolvency laws and general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law), and have not been modified or, if modified, giving particulars of such modification, and (iv) such other information, qualified to the Best of Borrower’s Knowledge, with respect to the Borrower, the Property and the Loan matters as Lender shall may reasonably request. The estoppel certificate Any prospective purchaser of any interest in the Loan shall also state either that no Default exists hereunder orbe permitted to rely on such certificate. With respect to any Commercial Lease, if any Default shall exist hereunder, specify such Default and the steps being taken to cure such Default. (b) Borrower shall request and use commercially reasonable good faith efforts to deliver to obtain for Lender, within thirty (30) days of Lender’s upon request, tenant estoppel certificates from each Tenant under any Material Lease entered into after the Closing Date in substantially the tenant on a customary form and substance of the estoppel certificate set forth in Exhibit G approved by Lender; provided that Borrower shall not be required to (A) deliver such certificates more frequently than one time once in any calendar year; provided, however, that there shall be no limit on the number year (unless an Event of times Borrower may be required to obtain such certificates if a Default hereunder or under any of the Loan Documents has occurred and is continuingthen exists, in which case Borrower shall endeavor to obtain as many such certificates as Lender shall request), or (B) obtain an estoppel certificate from any tenant whose applicable Lease does not require it to provide such a certificate, or (C) use efforts other than reasonable efforts to obtain such certificates from all tenants.

Appears in 1 contract

Samples: Loan and Security Agreement (Stratus Properties Inc)

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