Inspections; Cooperation. Each Borrower shall permit representatives of Lender to enter upon the Land of such Borrower, to inspect the Improvements of such Borrower and any and all materials to be used in connection with any construction at the Property of such Borrower, including any construction of tenant improvements, to examine all detailed plans and shop drawings and similar materials as well as all books and records of such Borrower (regardless of where maintained) and all supporting vouchers and data and to make copies and extracts therefrom and to discuss the affairs, finances and accounts pertaining to the Loan and the Improvements of such Borrower with representatives of such Borrower. Each Borrower shall at all times cooperate and use commercially reasonable efforts to cause each and every one of its contractors, subcontractors and material suppliers to cooperate with the representatives of Lender in connection with or in aid of the performance of Lender’s functions under this Agreement. Except in the event of an emergency, Lender shall give a Borrower at least twenty-four hours’ notice by telephone in each instance before entering upon the Land of such Borrower and/or exercising any other rights granted in this Section.
Appears in 3 contracts
Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Inspections; Cooperation. Each Borrower shall permit representatives of Lender Administrative Agent to enter upon the Land of such Borrower, to inspect the Improvements of such Borrower and any and all materials to be used in connection with any construction at the Property of such Borrower, including any construction of tenant improvements, to examine all detailed plans and shop drawings and similar materials as well as all books and records of such Borrower (regardless of where maintained) and all supporting vouchers and data and to make copies and extracts therefrom and to discuss the affairs, finances and accounts pertaining to the Loan and the Improvements of such Borrower with representatives of such Borrower. Each Borrower shall at all times cooperate and use commercially reasonable efforts to cause each and every one of its contractors, subcontractors and material suppliers to cooperate with the representatives of Lender Administrative Agent in connection with or in aid of the performance of LenderAdministrative Agent’s functions under this Agreement. Except in the event of an emergency, Lender Administrative Agent shall give a Borrower at least twenty-four hours’ notice by telephone in each instance before entering upon the Land of such Borrower and/or exercising any other rights granted in this Section.
Appears in 3 contracts
Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Real Estate Investment Trust II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Inspections; Cooperation. Each Borrower shall permit representatives of Lender Xxxxxx and the Lender's Consultant to enter upon the Land of such BorrowerLand, to inspect the Improvements of such Borrower and any and all materials to be used in connection with any construction at the Property development of such Borrower, including any construction of tenant improvementsthe Land and the Project, to examine all detailed plans and shop drawings and similar materials as well as as, upon reasonable prior notice (which shall be not less than two (2) Business Days, except in the case of an emergency), during business hours all records and books and records of such account maintained by or on behalf of Borrower (regardless of where maintained) and all supporting vouchers and data and to make copies and extracts therefrom relating thereto and to discuss the affairs, finances and accounts pertaining to the Loan and the Improvements of such Borrower with representatives of such Borrower. Each Borrower shall at all times reasonably cooperate and use commercially reasonable efforts to cause the Developer and each and every one of its contractors, subcontractors and material suppliers to reasonably cooperate with the representatives of Lender and the Lender's Consultant in connection with or in aid of the performance of Lender’s Xxxxxx's functions under this Agreement. Except in the event of an emergencyemergency or for review of books and records, Lender Xxxxxx shall give a Borrower at least twenty-four (24) hours’ ' notice by telephone in each instance before entering upon the Land of such Borrower and/or exercising any other rights granted in this Section.
Appears in 1 contract
Samples: Construction Loan Agreement