Common use of Project Status Report Clause in Contracts

Project Status Report. The Borrower shall provide editorial updates including status updates on the project and photos showing the progress on the project on a quarterly basis starting 3 months after registration of the mortgage. The status report should be in the form provided in the Lender’s standard form documents, with substance and detail satisfactory to the Lender, acting reasonably. Such report to be delivered in conjunction with the financial statements and certificates delivered pursuant to Section 4.1(e); and