Common use of Notice of Complaints, Violations and Fire Damage Clause in Contracts

Notice of Complaints, Violations and Fire Damage. The Asset Manager shall respond to complaints and requests from LXP LLCs within thirty (30) days of Asset Manager's having received any material complaint made by a LXP LLC under any Tranche II LSL Loan Document. Additionally, Asset Manager shall notify the Company and Advisor as soon as is reasonably practical (such notice to be accompanied by copies of supporting documentation) of each of the following: any notice of any governmental requirements received by Asset Manager; upon becoming aware of any material defect in a Tranche II LSL Property; and upon becoming aware of any fire or other material damage to any Tranche II LSL Property. In the case of any fire or other material damage to a Tranche II LSL Property, Asset Manager shall also notify the Company's insurance broker telephonically, so that an insurance adjuster has an opportunity to view the damage before repairs are started, and complete customary loss reports in connection with fire or other damage to a Property.

Notice of Complaints, Violations and Fire Damage. The Asset Manager shall respond to complaints and requests from LXP LLCs within thirty (30) days of Asset Manager's having received any material complaint made by a LXP LLC under any Tranche II LSL Loan Document. Additionally, Asset Manager shall notify the Company and Advisor as soon as is reasonably practical (such notice to be accompanied by copies of supporting documentation) of each of the following: any notice of any governmental requirements received by Asset Manager; upon becoming aware of any material defect in a Tranche II LSL Property; and upon becoming aware of any fire or other material damage to any Tranche II LSL Property. In the case of any fire or other material damage to a Tranche II LSL Property, Asset Manager shall also notify the Company's insurance broker telephonically, so that an insurance adjuster has an opportunity to view the damage before repairs are started, and complete customary loss reports in connection with fire or other damage to a Property.