Common use of Review by Construction Consultant Clause in Contracts

Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan Parties, the Architect and such other employees, consultants or agents as the Administrative Agents, the Second Lien Collateral Agent, the Construction Consultant or the Cost Consultant shall reasonably request to be present for such meetings. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Property and the Project as the Construction Consultant deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent, (b) at reasonable times during customary business hours upon prior notice to review, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the Project, and all information (including Construction Contracts) supporting the amendments to the Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, to inspect materials stored at any Mortgaged Property or the Project, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower hereby authorizes the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, the Construction Consultant and the Cost Consultant to contact any payee for purposes of confirming receipt of payments hereunder; provided that the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any payee to so confirm. In addition, the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultant) shall be entitled to examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties relating to the payment of the Project Completion Costs, including, without limitation, bills of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the Project (excluding each of the foregoing which is subject to attorney client privilege or subject to confidentiality restrictions binding on the Loan Parties or their Subsidiaries). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, and shall cause the Loan Parties to, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 2 contracts

Samples: Master Disbursement Agreement, Master Disbursement Agreement (Revel AC, Inc.)

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Review by Construction Consultant. The Borrower Borrowers shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan PartiesBorrowers, the Construction Manager, the Architect and such other employees, consultants or agents thereof as the Administrative Agents, the Second Lien Collateral Agent, Agent or the Construction Consultant or the Cost Consultant shall reasonably request to be present for such meetings (it being understood that the parties intend, so far as reasonably practicable and without prejudice to any of the rights of the Disbursement Agent or the Agent under the Loan Documents to request more frequent meetings, or meetings at different times, to coordinate such meetings to coincide with any schedule of monthly meetings established between the Borrower and the Construction Manager). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections observations of the Real Property Properties and the Project Projects as the Construction Consultant deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders, (b) at reasonable times during customary business hours upon prior notice to reviewnotice, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the a Project, and all information (including Construction Contracts) supporting the amendments to the a Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, foregoing and to inspect observe materials stored at any Mortgaged Property Property, a Project, or the Projectoff-site facilities where materials designated for use in a Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower Borrowers hereby authorizes authorize the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent and the Construction Consultant and the Cost Consultant to contact any payee of a Borrower for purposes of confirming receipt of payments hereunderprogress payments; provided that the Administrative AgentsAgent, the Second Lien Collateral Disbursement Agent and the Disbursement Agent Construction Consultant shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any such payee to so confirm. In addition, the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent (or and the Construction Consultant on their behalf or the Cost Consultant) shall be entitled to examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties Borrowers relating to the payment construction of the Project Completion Costsa Project, including, without limitation, bills of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the a Project (excluding each of the foregoing which is subject to attorney client privilege privilege, attorney work product or subject to confidentiality restrictions binding on the Loan Parties Borrowers). From time to time, at the reasonable request of the Agent, the Disbursement Agent or their Subsidiaries)the Construction Consultant, the applicable Borrower shall deliver to the Agent, the Disbursement Agent and the Construction Consultant a Project Schedule for its Project. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, and Borrowers shall cause the Loan Parties to, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection observation rights hereunder to take such further steps as the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 2 contracts

Samples: Master Disbursement Agreement (CAESARS ENTERTAINMENT Corp), Credit Agreement (CAESARS ENTERTAINMENT Corp)

Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan PartiesBorrower, the Architect Disbursement Agent, and such other employees, consultants consultants, counsel or agents as the Administrative Agents, the Second Lien Collateral Agent, the Construction Consultant Collateral Agent or the Cost Construction Consultant shall reasonably request to be present for such meetings. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Property and the Project as the Construction Consultant it deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent, (b) at reasonable times during customary business hours upon reasonable prior notice to review, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the Project, and all information (including Construction Contracts) supporting the amendments to the Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, to inspect materials stored at any Mortgaged Property or Property, the Project, or off-site facilities where materials designated for use in the Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents Documents. The Construction Consultant shall (i) participate in such meetings, at reasonable times during customary business hours and at reasonable intervals, with the Notes DocumentsBorrower, the Construction Manager, the Architect and/or other employees, consultants, counsel or agents of the Borrower as the Borrower may from time to time reasonably request and (ii) upon the Borrower’s request, review and provide comments to “pencil copy requisitions” in advance of the Borrower’s submission of Disbursement Requests. The Borrower hereby authorizes the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent and the Construction Consultant to contact, after the occurrence and during the Cost Consultant to contact continuation of an Event of Default, any payee for purposes of confirming receipt of payments hereunderprogress payments; provided provided, however, that that the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any payee to so confirm. In addition, the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultantbehalf) shall be entitled to (at such Person’s sole cost and expense, except after the occurrence and during the continuation of an Event of Default, whereupon such costs and expenses shall be for the account of Borrower) examine, copy and make extracts of the books, records, accounting data and other documents of the Borrower or the other Loan Parties relating to the payment of extent related to any items covered by the Project Completion Costs, including, without limitation, bills Budget or the performance by the Construction Consultant of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the Project its duties hereunder (excluding each of the foregoing which is subject to attorney attorney-client privilege or subject attorney-work product). Upon the occurrence and during the continuation of an Event of Default, at the request of the Administrative Agent, the Collateral Agent, the Disbursement Agent or the Construction Consultant, the Borrower shall from time to confidentiality restrictions binding on time deliver to the Loan Parties or their Subsidiaries)Administrative Agent, the Collateral Agent, the Disbursement Agent and the Construction Consultant a Project Cost Schedule for the Project. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, agrees to reasonably cooperate and shall cause the other Loan Parties toand each other Contract counterparty to reasonably cooperate, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 1 contract

Samples: Project Disbursement Agreement (Empire Resorts Inc)

Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentFacility Manager) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals but in no event no less often than once every calendar month with representatives of the Loan PartiesBorrower, the Developer, the Architect and such other employees, consultants or agents as the Administrative Agents, the Second Lien Collateral Agent, the Construction Consultant or the Cost Consultant shall reasonably request (at the direction of the Administrative Agent and the Facility Manager) to be present for such meetings. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the The Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Mortgaged Property and the Project as the Construction Consultant it deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentFacility Manager, (b) at reasonable times during customary business hours upon reasonable prior notice to review, to the extent it deems reasonably necessary or appropriate to permit it to perform its dutiesduties and in any event no less often than once every calendar month, to review and examine the Plans and Specifications and all shop drawings relating to the Project, and all information (including Construction Contracts) supporting the amendments to the Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, to inspect materials stored at any Mortgaged Property or Property, the Project, or off-site facilities where materials designated for use in the Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower hereby authorizes the Administrative Agents, the Second Lien Collateral Agent, Agent and the Disbursement Agent, the Construction Consultant and the Cost Consultant Agent to contact any payee for purposes of confirming receipt of payments hereunderprogress payments; provided that the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any payee to so confirm. In addition, the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultant) shall be entitled to examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties Borrower relating to the payment construction of the Project Completion CostsProject, including, without limitation, including bills of sale, statements, receipts, Lien lien releases and waiversaffidavits, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the Project (excluding each of the foregoing which is subject to attorney client privilege or subject to confidentiality restrictions binding on the Loan Parties or their Subsidiaries). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shallProject, and Administrative Agent and Disbursement Agent shall cause the Loan Parties to, reasonably cooperate be entitled to share such materials with the Construction Consultant Facility Manager and in assisting the Construction Consultant Consultant. From time to perform its duties on behalf time, at the request of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, the Construction Consultant or Borrower shall deliver to the Cost Consultant Administrative Agent and/or the Disbursement Agent the Project Schedule for the Project. The Borrower agrees to reasonably may request in order cooperate, and to facilitate use commercially reasonable efforts to cause the performance of such obligations or the exercise of such rights.Developer and each other

Appears in 1 contract

Samples: Disbursement Agreement (Allegiant Travel CO)

Review by Construction Consultant. The Borrower Borrowers shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan PartiesBorrowers, the Construction Manager, the Architect and such other employees, consultants or agents thereof as the Administrative Agents, the Second Lien Collateral Agent, Agent or the Construction Consultant or the Cost Consultant shall reasonably request to be present for such meetings (it being understood that the parties intend, so far as reasonably practicable and without prejudice to any of the rights of the Disbursement Agent or the Agent under the Loan Documents to request more frequent meetings, or meetings at different times, to coordinate such meetings to coincide with any schedule of monthly meetings established between the Borrower and the Construction Manager). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections observations of the Real Property Properties and the Project Projects as the Construction Consultant deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders, (b) at reasonable times during customary business hours upon prior notice to reviewnotice, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the a Project, and all information (including Construction Contracts) supporting the amendments to the a Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, foregoing and to inspect observe materials stored at any Mortgaged Property Property, a Project, or the Projectoff-site facilities where materials designated for use in a Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower Borrowers hereby authorizes authorize the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent and the Construction Consultant and the Cost Consultant to contact any payee of a Borrower for purposes of confirming receipt of payments hereunderprogress payments; provided that the Administrative AgentsAgent, the Second Lien Collateral Disbursement Agent and the Disbursement Agent Construction Consultant shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any such payee to so confirm. In addition, the Administrative Agents- 19 - Agent, the Second Lien Collateral Agent and the Disbursement Agent (or and the Construction Consultant on their behalf or the Cost Consultant) shall be entitled to examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties Borrowers relating to the payment construction of the Project Completion Costsa Project, including, without limitation, bills of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the a Project (excluding each of the foregoing which is subject to attorney client privilege privilege, attorney work product or subject to confidentiality restrictions binding on the Loan Parties Borrowers). From time to time, at the reasonable request of the Agent, the Disbursement Agent or their Subsidiaries)the Construction Consultant, the applicable Borrower shall deliver to the Agent, the Disbursement Agent and the Construction Consultant a Project Schedule for its Project. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, and Borrowers shall cause the Loan Parties to, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection observation rights hereunder to take such further steps as the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 1 contract

Samples: Master Disbursement Agreement

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Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan PartiesBorrower, the Disbursement Agent, the Construction Manager, the EV Contractor, the Architect, the EV Architect and such other employees, consultants consultants, counsel or agents as the Administrative Agents, the Second Lien Collateral Agent, the Construction Consultant Collateral Agent or the Cost Construction Consultant shall reasonably request to be present for such meetings (it being understood that the parties intend, so far as reasonably practicable, to coordinate such meetings to coincide with any schedule of regular meetings established between the Borrower and the Construction Manager or EV Contractor, as the case may be). Construction Consultant shall (i) participate in such meetings, at reasonable times during customary business hours and at reasonable intervals, with the Borrower, the Construction Manager, the EV Contractor, the Architect, the EV Architect and/or other employees, consultants, counsel or agents of the Borrower as the Borrower may from time to time reasonably request and (ii) upon the Borrower’s request, review and provide comments to “pencil copy requisitions” in advance of the Borrower’s submission of Disbursement Requests. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Property and the Project as the Construction Consultant it deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent, (b) at reasonable times during customary business hours upon reasonable prior notice to review, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications (and Final Plans and Specifications) and all shop drawings relating to the Project, and all information (including Construction Contracts) supporting the amendments to the Project Completion Building Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, to inspect materials stored at any Mortgaged Property or Property, the Project, or off-site facilities where materials designated for use in the Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower hereby authorizes the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent and the Construction Consultant and the Cost Consultant to contact the Construction Manager, the EV Contractor, the Architect or the EV Architect, and after the occurrence and during the continuation of an Event of Default, any other payee for purposes of confirming receipt of payments hereunderprogress payments; provided provided, however, that that the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any payee to so confirm. In addition, the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultantbehalf) shall be entitled to (at such Person’s sole cost and expense, except after the occurrence and during the continuation of an Event of Default, whereupon such costs and expenses shall be for the account of Borrower) examine, copy and make extracts of the books, records, accounting data and other documents of the Borrower or the other Loan Parties relating to the payment construction of the Project Completion CostsProject, including, without limitation, including bills of sale, statements, receipts, Lien lien releases and waiversaffidavits, contracts or agreements, which relate to the extent related to any materials, fixtures or articles incorporated into the Project (excluding each of the foregoing which is subject to attorney attorney-client privilege or subject attorney-work product. Upon the occurrence and during the continuation of an Event of Default, at the request of the Administrative Agent, the Collateral Agent, the Disbursement Agent or the Construction Consultant, the Borrower shall from time to confidentiality restrictions binding on time deliver to the Administrative Agent, the Collateral Agent, the Disbursement Agent and the Construction Consultant a Building Loan Parties or their Subsidiaries)Cost Schedule for the Project. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shallagrees to reasonably cooperate, and shall cause the other Loan Parties toParties, the Construction Manager, the EV Contractor and each other Contractor to reasonably cooperate cooperate, with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 1 contract

Samples: Building Loan Disbursement Agreement (Empire Resorts Inc)

Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan PartiesBorrower, the Architect Construction Manager(s), the Architect(s) and such other employees, consultants or agents thereof as the Administrative Agents, the Second Lien Collateral Agent, Agent or the Construction Consultant or the Cost Consultant shall reasonably request to be present for such meetingsmeetings (it being understood that the parties intend, so far as reasonably practicable, to coordinate such meetings to coincide with any schedule of regular meetings established between the Borrower and the Construction Manager(s)). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Property and the Project as the Construction Consultant deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement AgentLenders, (b) at reasonable times during customary business hours upon prior notice to reviewnotice, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the ProjectDevelopment, and all information (including Construction Contracts) supporting the amendments to the Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, foregoing and to inspect materials stored at any Mortgaged Property or the ProjectProperty, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower hereby authorizes the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant and the Cost Consultant to contact any payee of the Borrower for purposes of confirming receipt of payments hereunderprogress payments; provided that the Administrative Agents, Agent or the Second Lien Collateral Agent and the Disbursement Agent Construction Consultant shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any such payee to so confirm. In addition, the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultant) shall be entitled to (at such Person’s sole cost and expense except as may be otherwise provided in the Loan Documents) examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties Borrower relating to the payment construction of the Project Completion CostsDevelopment, including, without limitation, bills of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to the extent related to any materials, fixtures or articles incorporated into the Project Development (excluding each of the foregoing which is subject to attorney client privilege privilege, attorney work product or subject to confidentiality restrictions binding on the Loan Parties Borrower). From time to time, at the reasonable request of the Administrative Agent or their Subsidiaries)the Construction Consultant, the Borrower shall deliver to the Administrative Agent or the Construction Consultant, as applicable, the Project Schedule. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, and shall cause the Loan Parties to, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative Agents, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative Agents, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request as are reasonably necessary in order to facilitate accomplish the performance of such obligations or the exercise of such rights.

Appears in 1 contract

Samples: Credit Agreement (Caesars Acquisition Co)

Review by Construction Consultant. The Borrower shall and shall cause the Loan Parties to permit the Construction Consultant (acting as a representative for the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent) and the Cost Consultant to meet periodically at reasonable times during customary business hours and at reasonable intervals with representatives of the Loan Parties, the Construction Manager, the Architect and such other employees, consultants or agents as the Administrative AgentsAgent, the Second Lien Collateral Agent, Agent or the Construction Consultant or the Cost Consultant shall reasonably request to be present for such meetingsmeetings (it being understood that the parties intend, so far as reasonably practicable and without prejudice to any of the rights of the Disbursement Agent, the Administrative Agent or the Second Lien Collateral Agent under the Loan Documents and the Notes Documents to request more frequent meetings or meetings at different times, to coordinate such meetings to coincide with the schedule of monthly meetings established between the Borrower and the Construction Manager under the Construction Management Agreement). Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall and shall cause its Subsidiaries to permit the Construction Consultant (and in the case of clause (c), the Insurance Advisor) (a) to perform such inspections of the Real Property and the Project as the Construction Consultant deems reasonably necessary or appropriate in the performance of its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent, (b) at reasonable times during customary business hours upon prior notice to review, to the extent it deems reasonably necessary or appropriate to permit it to perform its duties, to review and examine the Plans and Specifications and all shop drawings relating to the Project, and all information (including Construction Contracts) supporting the amendments to the Project Completion Budget, amendments to any Construction Contracts, any Disbursement Request and any certificates in support of any of the foregoing, to inspect materials stored at any Mortgaged Property or Property, the Project, or off-site facilities where materials designated for use in the Project are stored, and (c) to review the insurance required pursuant to the terms of the Loan Documents and the Notes Documents. The Borrower hereby authorizes the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent and the Construction Consultant and the Cost Consultant to contact any payee for purposes of confirming receipt of payments hereunderprogress payments; provided that the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent shall have no obligation to contact (or cause the Construction Consultant or Cost Consultant to contact) any payee to so confirm. In addition, the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent (or the Construction Consultant on their behalf or the Cost Consultantbehalf) shall be entitled to examine, copy and make extracts of the books, records, accounting data and other documents of the Loan Parties relating to the payment construction of the Project Completion CostsProject, including, without limitation, bills of sale, statements, receipts, Lien releases and waivers, contracts or agreements, which relate to any materials, fixtures or articles incorporated into the Project (excluding each of the foregoing which is subject to attorney client privilege or subject to confidentiality restrictions binding on the Loan Parties or their Subsidiaries). From time to time, at the reasonable request of the Administrative Agent, the Second Lien Collateral Agent, the Disbursement Agent or the Construction Consultant, the Borrower shall deliver to the Administrative Agent, the Second Lien Collateral Agent, the Disbursement Agent and the Construction Consultant a Project Schedule for the Project. Subject to any restrictions imposed by Gaming Laws or Gaming Authorities and safety-related requirements, the Borrower shall, and shall cause the Loan Parties to, reasonably cooperate with the Construction Consultant and in assisting the Construction Consultant to perform its duties on behalf of the Administrative AgentsAgent, the Second Lien Collateral Agent and the Disbursement Agent and exercising its review and inspection rights hereunder to take such further steps as the Administrative AgentsAgent, the Second Lien Collateral Agent, the Disbursement Agent, Agent or the Construction Consultant or the Cost Consultant reasonably may request in order to facilitate the performance of such obligations or the exercise of such rights.

Appears in 1 contract

Samples: Master Disbursement Agreement (Revel Entertainment Group, LLC)

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