Common use of OFFSET STATEMENT Clause in Contracts

OFFSET STATEMENT. (a) Tenant shall at any time and from time to time upon not less than ten (10) days prior written notice from Landlord execute, acknowledge and deliver to Landlord a statement in writing (i) certifying that this lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this lease, as so modified, is in full force and effect) and the dates to which the Minimum Rent and additional rent are paid in advance, if any, (ii) indicating whether there are to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed and (iii) indicating whether such other facts as are included in such statement by Landlord are accurate. Any such statement may be relied upon by any prospective purchaser or encumbrancer of the Premises or of all or any portion of the Premises. (b) Tenant’s failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, (iii) that not more than one month’s Minimum Rent has been paid in advance and (iv) that any other statements of fact included by Landlord in the statement are correct. (c) Tenant shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any loan caused by any intentional material misstatement contained in any estoppel certificate supplied by Tenant. Tenant irrevocably appoints Landlord as attorney-in-fact for Tenant with full power and authority to execute and deliver in the name of Tenant an estoppel certificate if Tenant fails to deliver the same within such ten (10) day period, and such certificate as signed by Landlord, shall be binding on Tenant. (d) In the event this lease will be used as collateral for a loan made to Tenant, Landlord shall upon not less than ten (10) days prior written notice from Tenant execute, acknowledge and deliver to Tenant a statement in writing (1) certifying that this lease is unmodified and in full force and effect (or, is modified, stating the nature of such modification and certifying that this lease, as so modified, is in full force and effect) and the dates to which the Minimum Rent and additional rent have been paid in advance, if any, (ii) indicating whether there are to Landlord’s knowledge, any uncured defaults on the part of Tenant hereunder, or specifying such defaults, if any, are claimed and (iii) indicating whether such other facts as are included in such statement by Tenant are accurate.

OFFSET STATEMENT. (a) Tenant Lessee shall at any time and from time to time upon not less than within ---------------- ten (10) days prior written notice following request from Landlord Lessor execute, acknowledge and deliver to Landlord Lessor a statement in writing writing, (i) certifying that this lease Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this lease, Lease as so modified, modified is in full force and effect), (ii) acknowledging that there are not, to Lessee's knowledge, any uncured defaults on the part of the Lessor hereunder, or specifying such defaults if any are claimed, (iii) certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the dates Premises, (iv) certifying the date to which the Minimum Rent Rentals and additional rent other charges are paid in advance, if any, (iiv) indicating whether there are to Tenant’s knowledgeevidencing the status of this Lease as may be required either by a lender making a loan affecting or a purchaser of the Premises, or part of the Project from Lessor, (vi) warranting that if any uncured defaults beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit, (vii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, and (viii) certifying such other matters relating to this Lease and/or the Premises as may be requested by a lender making a loan to Lessor or a purchaser of the Premises, or any part of Landlord hereunder, or specifying such defaults if any are claimed and (iii) indicating whether such other facts as are included in such statement by Landlord are accuratethe Project from Lessor. Any such statement may be relied upon by any prospective purchaser or encumbrancer of the Premises or of all or any portion of the Premises. (b) Tenant’s failure to deliver such statement Project, or any interest therein. Lessee shall, within such time shall be conclusive upon Tenant (i) that this lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, (iii) that not more than one month’s Minimum Rent has been paid in advance and (iv) that any other statements of fact included by Landlord in the statement are correct. (c) Tenant shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any loan caused by any intentional material misstatement contained in any estoppel certificate supplied by Tenant. Tenant irrevocably appoints Landlord as attorney-in-fact for Tenant with full power and authority to execute and deliver in the name of Tenant an estoppel certificate if Tenant fails to deliver the same within such ten (10) day period, and such certificate as signed by Landlord, shall be binding on Tenant. (d) In the event this lease will be used as collateral for a loan made to Tenant, Landlord shall upon not less than ten (10) days prior written notice from Tenant executefollowing request of Lessor, acknowledge and deliver such other documents including Lessee's financial statements as are reasonably requested in connection with the sale of, or loan to Tenant a statement in writing (1) certifying that this lease is unmodified and in full force and effect (or, is modified, stating the nature of such modification and certifying that this lease, as so modified, is in full force and effect) and the dates to which the Minimum Rent and additional rent have been paid in advance, if any, (ii) indicating whether there are to Landlord’s knowledgebe secured by, any uncured defaults on portion of the part of Tenant hereunderProject, or specifying such defaults, if any, are claimed and (iii) indicating whether such other facts as are included in such statement by Tenant are accurateany interest therein.

OFFSET STATEMENT. (a) Tenant Either party shall at any time and from time to time upon not less than within ten (10) days prior written notice following request from Landlord the other party execute, acknowledge and deliver to Landlord such requesting party a statement in writing writing, (i) certifying that this lease Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this lease, Lease as so modified, modified is in full force and effect) and the dates to which the Minimum Rent and additional rent are paid in advance, if any, ); (ii) indicating whether acknowledging that there are not, to Tenantsuch party’s knowledge, any uncured defaults on the part of Landlord the other party hereunder, or specifying such defaults if any are claimed and claimed; (iii) indicating whether if Lessor is the requesting party, certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; (iv) certifying the date to which Rentals and other charges are paid in advance, if any; (v) certifying the current amount of Base Rent due under the Lease; (vi) if Lessor is the requesting party, evidencing the status of this Lease, as may be required either by a lender making a loan affecting, or a purchaser of, the Premises from Lessor; (vii) if Lessor is the requesting party, warranting that if any beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit; (viii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, if applicable, and (ix) certifying such other facts matters relating to this Lease and/or the Premises as are included in such statement may be reasonably requested by Landlord are accuratea lender making a loan to Lessor or a purchaser of the Premises from Lessor. Any such statement may be relied upon by any prospective purchaser purchaser, encumbrancer or encumbrancer of the Premises or transferee of all or any portion of the Premises. (b) Tenant’s failure to deliver such statement Premises or any interest therein. Lessee shall, within such time shall be conclusive upon Tenant (i) that this lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, (iii) that not more than one month’s Minimum Rent has been paid in advance and (iv) that any other statements of fact included by Landlord in the statement are correct. (c) Tenant shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any loan caused by any intentional material misstatement contained in any estoppel certificate supplied by Tenant. Tenant irrevocably appoints Landlord as attorney-in-fact for Tenant with full power and authority to execute and deliver in the name of Tenant an estoppel certificate if Tenant fails to deliver the same within such ten (10) day period, and such certificate as signed by Landlord, shall be binding on Tenant. (d) In the event this lease will be used as collateral for a loan made to Tenant, Landlord shall upon not less than ten (10) days prior written notice from Tenant executefollowing request of Lessor, acknowledge and deliver such other documents including Lessee’s financial statements as are reasonably requested in connection with the sale of, or loan to Tenant a statement in writing (1) certifying that this lease is unmodified and in full force and effect (or, is modified, stating the nature of such modification and certifying that this lease, as so modified, is in full force and effect) and the dates to which the Minimum Rent and additional rent have been paid in advance, if any, (ii) indicating whether there are to Landlord’s knowledgebe secured by, any uncured defaults on portion of the part of Tenant hereunder, Premises or specifying such defaults, if any, are claimed and (iii) indicating whether such other facts as are included in such statement by Tenant are accurateany interest therein.