Tenant Financial Information. Borrower shall cause each Lease entered into on or after the date hereof to require the Tenant under such Lease to deliver to Borrower periodic operating statements with respect to (i) such Tenant’s operations at the Property, and (ii) the operations of such Tenant and, if applicable, any parent or affiliated entity of such Tenant which operates, or has subsidiaries that operate, comparable businesses (collectively, “Tenant Financial Information”). Borrower shall, from time to time promptly upon request of Lender, to the extent permitted under the applicable Lease, request Tenant Financial Information from the Tenant and promptly upon receipt thereof, deliver such Tenant Financial Information to Lender, provided, however, that (1) prior to a Secondary Market Transaction consisting of a securitization, Lender shall not require Borrower to request Tenant Financial Information more than three (3) times, and (2) following a Secondary Market Transaction consisting of a securitization, provided no Event of Default is continuing, Lender shall not request such information without reasonable cause (which reasonable cause shall include, without limitation, the occurrence of any default by a Tenant or if such Tenant ceases to conduct its business in the premises demised by such Principal Lease).
Appears in 6 contracts
Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Gladstone Commercial Corp), Open End Mortgage, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp)
