Common use of Operating and Financial Statements Clause in Contracts

Operating and Financial Statements. Within forty-five (45) days after the end of each six-month period in each fiscal year of Mortgagor during the term of the Loan (whether such fiscal year is a calendar year or otherwise), Mortgagor shall deliver, or cause to be delivered, to State Farm: (a) semi-annual operating statements showing all elements of income and expense of the Secured Property dated as of the last day of such period; and (b) a current rent roll, showing all items set forth in the rent roll delivered to State Farm in connection with the closing of the Loan, as well as gross sales of each tenant, if any, paying percentage rental. Within one hundred twenty (120) days after the end of each fiscal year of Mortgagor and any Guarantor, Mortgagor shall deliver or cause to be delivered annual financial statements (consisting only of a balance sheet and an income and expense statement) for Mortgagor, any Guarantor and any tenant under a Lease approved by State Farm that provides that such tenant may self-insure on any insurance otherwise required to be obtained by Mortgagor under this Mortgage. Mortgagor shall promptly deliver to State Farm (y) any financial statements received by Mortgagor from any tenant under a Major Lease after receipt thereof, and (z) such other information (financial or otherwise) concerning the Secured Property, Mortgagor, Guarantor or its or their constituent entities that State Farm may reasonably request after such request therefor. All such statements and information shall be prepared in accordance with generally accepted accounting principles consistently applied, shall otherwise be satisfactory to State Farm and shall be certified by an authorized Person, member, partner or officer of Mortgagor or Guarantor, as applicable, approved by State Farm. State Farm and its representatives shall have the right, at all reasonable times and upon reasonable notice, to examine and make copies of Mortgagor’s plans, books, records, income tax returns and all supporting data concerning Mortgagor or the Secured Property. Mortgagor will assist State Farm and its representatives in conducting any such examination.

Operating and Financial Statements. Mortgagor hereby covenants to deliver, or cause to be delivered, to State Farm the following operating and financial statements: (a) Within forty-five (45) days after the end of each six-month period in each fiscal year of Mortgagor during the term of the Loan (whether such fiscal year is a calendar year or otherwise), Mortgagor shall deliver, or cause to be delivered, to State Farm: (ai) semi-annual operating statements showing all elements of income and expense of the Secured Property dated as of the last day of such period; and (bii) a current rent rollroll for the Secured Property, showing all items set forth in the rent roll delivered to State Farm in connection with the closing of the Loan, as well as which shall include gross sales of each tenant, if any, paying percentage rental. ; (b) Within one hundred twenty (120) days after the end of each fiscal year of Mortgagor and any Guarantorguarantor, Mortgagor shall deliver or cause to be delivered annual financial statements (consisting only of a balance sheet and an income and expense statement) for Mortgagor and such guarantor; (c) Within one hundred twenty (120) days after the end of each fiscal year of Mortgagor, any Guarantor annual financial statements (consisting of a balance sheet and an income and expense statement) for any tenant under a Lease approved by State Farm that provides that such tenant may self-insure on any insurance otherwise required to be obtained by Mortgagor under this Mortgage. , provided, however, Mortgagor shall promptly deliver not be required to State Farm provide such annual financial statements if such financial statements are available publicly; (yd) Promptly after receipt thereof, any financial statements received by Mortgagor from any tenant under a Major Lease (as hereinafter defined); and (e) Promptly after receipt thereofrequest therefor, and (z) such other information (financial or otherwise) concerning the Secured Property, MortgagorMortgagor or any guarantor, Guarantor or its or their constituent entities that entities, as State Farm may reasonably request after such request thereforrequest. Loan No.14707 All such annual financial statements and information shall be prepared in accordance with generally accepted accounting principles principles, consistently applied. All documentation submitted pursuant to subsections (a), (b) and (e) above shall otherwise be satisfactory to State Farm and shall be certified by an authorized Personperson, member, partner or officer of Mortgagor or Guarantorsuch guarantor, as applicable, approved by State Farm. State Farm and its representatives shall have the right, at all reasonable times and upon reasonable notice, to examine and make copies of Mortgagor’s plans, books, records, income tax returns and all supporting data concerning Mortgagor or the Secured Property. Mortgagor will assist State Farm and its representatives in conducting any such examination.

Operating and Financial Statements. Mortgagor shall deliver or cause to be delivered the following documents to State Farm: (a) Within forty-five (45) 45 days after the end of each six-month period in each fiscal year of Mortgagor during the term of the Loan (whether such fiscal year is a calendar year or otherwise), Mortgagor shall deliver, or cause to be delivered, to State Farm: (ai) semi-annual operating statements showing all elements of income and expense of the Secured Property dated as of the last day of such period; and (bii) a current rent rollroll for the Secured Property, showing all items set forth in the rent roll delivered to State Farm in connection with the closing of the Loan, as well as which shall include gross sales of each tenant, if any, paying percentage rental. ; (b) Within one hundred twenty (120) 120 days after the end of each fiscal year of Mortgagor and any Guarantor, Mortgagor shall deliver or cause to be delivered annual financial statements (consisting only of a balance sheet and an income and expense statement) for Mortgagor and such Guarantor; (c) Within 120 days after the end of each fiscal year of Mortgagor, any Guarantor annual financial statements (consisting of a balance sheet and an income and expense statement) for any tenant under a Lease approved by State Farm (to the extent Mortgagor receives same from such tenant) that provides that such tenant may self-insure on any insurance otherwise required to be obtained by Mortgagor under this Mortgage. Mortgagor shall promptly deliver to State Farm ; (yd) Promptly after receipt thereof, any financial statements received by Mortgagor from any tenant under a Major Lease Lease; (e) Such other financial statements as are required by the Loan Agreement; and (f) Promptly after receipt thereofrequest therefor, and (z) such other information (financial or otherwise) concerning the Secured Property, MortgagorMortgagor or Guarantor, Guarantor or its or their constituent entities that entities, as State Farm may reasonably request after such request thereforrequest. All such financial statements and information shall be prepared in accordance with generally accepted accounting principles consistently applied, shall otherwise be satisfactory to State Farm and shall be certified by an authorized Personperson, member, partner or officer of Mortgagor or Guarantor, as applicable, approved by State Farm, which approval shall not be unreasonably withheld. State Farm and its representatives shall have the right, at all reasonable times and upon reasonable notice, to examine and make copies of Mortgagor’s plans, books, records, income tax returns and all supporting data concerning Mortgagor or the Secured Property. Mortgagor will assist State Farm and its representatives in conducting any such examination.