Common use of Form of Statements; Audited Financials Clause in Contracts

Form of Statements; Audited Financials. A natural person having authority to bind Borrower (or the SPE Equity Owner, Operator or guarantor, as applicable) will certify each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) to be complete and accurate. Each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c)(i) and (iii), 6.07(f) and 11.05(b) will be in such form and contain such detail as Lender may reasonably require. Lender also may require that any of the statements, schedules or reports listed in Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) be audited at Borrower’s expense by independent certified public accountants acceptable to Lender, at any time when an Event of Default has occurred and is continuing or at any time that Lender, in its reasonable judgment, determines that audited financial statements are required for an accurate assessment of the financial condition of Borrower or of the Mortgaged Property.

Form of Statements; Audited Financials. A natural person having authority to bind Borrower (or or, as the context requires, the SPE Equity Owner, Operator or guarantorGuarantor, as applicable) will certify each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) to be complete and accurate. Each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c)(i) and (iii6.07(c), 6.07(f) and 11.05(b) will be in such form and contain such detail as Lender may reasonably require. Lender also may require that any of the statements, schedules or reports listed in Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) be audited at Borrower’s expense by independent certified public accountants acceptable to Lender, at any time when an Event of Default has occurred and is continuing or at any time that Lender, in its reasonable judgment, based on market conditions, the condition of the Mortgaged Property and/or the content of the statements, schedules or reports that have been provided to Borrower (or if Borrower has failed to provide in a timely manner any of such statements, schedules or reports), determines that audited financial statements are required for an accurate assessment of the financial condition of Borrower or of the Mortgaged Property.. Multifamily Loan and Security Agreement – Seniors Housing Page 126

Form of Statements; Audited Financials. A natural person having authority to bind Borrower (or the SPE Equity Owner, Operator or guarantorGuarantor, as applicable) will certify each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) to be complete and accurate. Each of the statements, schedules and reports required by Sections 6.07(b), 6.07(c)(i) and (iii), 6.07(f) and 11.05(b) will be in such form and contain such detail as Lender may reasonably require. Lender also may require that any of the statements, schedules or reports listed in Sections 6.07(b), 6.07(c), 6.07(f) and 11.05(b) be audited at Borrower’s expense by independent certified public accountants acceptable to Lender, at any time when an Event of Default has occurred and is continuing or at any time that Lender, in its reasonable judgment, determines that audited financial statements are required for an accurate assessment of the financial condition of Borrower or of the Mortgaged Property.