Common use of Tenant Financial Information Clause in Contracts

Tenant Financial Information. Grantor shall cause the tenant under the TRS Lease (a "Major Income Lease") to deliver to Grantor 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"). Notwithstanding the provisions of Section 1.12(b) above, any Major Income Lease entered into after the date hereof which does not require the Tenant to provide Tenant Financial Information upon request shall require the prior written approval of Beneficiary. Grantor shall, from time to time promptly upon request of Beneficiary, request Tenant Financial Information from the Tenant under each Major Income Lease (and use all commercially reasonable efforts to obtain such Tenant Financial Information), and promptly upon receipt thereof, deliver such Tenant Financial Information to Beneficiary, provided, however, that provided no Event of Default is continuing, Beneficiary shall not request such information without reasonable cause (which reasonable cause shall include, without limitation, the occurrence of any default by the Tenant). Notwithstanding anything to the contrary contained herein, Grantor shall provide the Tenant Financial Information (A) annually, (B) each time a new Major Income Lease is executed and (iii) upon any material change in such Tenant financial situation of which Grantor shall become aware. For purposes of this Section 1.12, in the event Beneficiary does not approve or disapprove a requested (x) proposed new Lease, or a proposed modification, extension, termination of a Lease, within ten (10) Business Days, in each case from the date Beneficiary receives such request together with a copy of the final version of such proposed new Lease or proposed extension, modification or termination of an existing Lease, as the case may be, Grantor shall re-submit such request, with the notation “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE IS MADE WITHIN 5 DAYS” prominently displayed in bold, all caps, 14 point type or larger, at the top of each page of such re-submitted request and on any cover page or envelope, and if Beneficiary does not approve such request within five (5) calendar days from the date Beneficiary receives the re-submitted request, same shall be deemed approved.

Tenant Financial Information. Grantor Borrower shall cause each Lease entered into on or after the tenant date hereof which, if all Tenants paid all rents as and when due under their respective Leases, would yield one-third or more of the TRS Lease aggregate rental income of the Property (a "“Major Income Lease"”) to require the Tenant under such Lease to deliver to Grantor Borrower periodic operating statements with respect to (i) such Tenant's ’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"”). Notwithstanding the provisions of Section 1.12(b1.10(a) above, any Major Income Lease entered into after the date hereof which does not require the Tenant to provide Tenant Financial Information upon request shall require the prior written approval of BeneficiaryLender. Grantor Borrower shall, from time to time promptly upon request of BeneficiaryLender, request Tenant Financial Information from the Tenant under each Major Income Lease (and use all commercially reasonable efforts to obtain such Tenant Financial Information), and promptly upon receipt thereof, deliver such Tenant Financial Information to BeneficiaryLender, 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, Beneficiary Lender shall not request such information without reasonable cause (which reasonable cause shall include, without limitation, the occurrence of any default by the Tenant). Notwithstanding anything to the contrary contained herein, Grantor shall provide the Tenant Financial Information (A) annually, (B) each time under a new Major Income Lease is executed and (iii) upon any material change in or if such Tenant financial situation of which Grantor shall become aware. For purposes of this Section 1.12, ceases to conduct its business in the event Beneficiary does not approve or disapprove a requested (x) proposed new premises demised by such Major Income Lease, or a proposed modification, extension, termination of a Lease, within ten (10) Business Days, in each case from the date Beneficiary receives such request together with a copy of the final version of such proposed new Lease or proposed extension, modification or termination of an existing Lease, as the case may be, Grantor shall re-submit such request, with the notation “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE IS MADE WITHIN 5 DAYS” prominently displayed in bold, all caps, 14 point type or larger, at the top of each page of such re-submitted request and on any cover page or envelope, and if Beneficiary does not approve such request within five (5) calendar days from the date Beneficiary receives the re-submitted request, same shall be deemed approved).

Tenant Financial Information. Grantor Borrower shall cause each Lease entered into on or after the tenant date hereof which, if all Tenants paid all rents as and when due under their respective Leases, would yield one-quarter or more of the TRS Lease aggregate rental income of the Property (a "“Major Income Lease"”) to require the Tenant under such Lease to deliver to Grantor Borrower periodic operating statements with respect to (i) such Tenant's ’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"”). Notwithstanding the provisions of Section 1.12(b4.10(a) above, any Major Income Lease entered into after the date hereof which does not require the Tenant to provide Tenant Financial Information upon request shall require the prior written approval of BeneficiaryLender. Grantor Borrower shall, from time to time promptly upon request of BeneficiaryLender, request Tenant Financial Information from the Tenant under each Major Income Lease (and use all commercially reasonable efforts to obtain such Tenant Financial Information), and promptly upon receipt thereof, deliver such Tenant Financial Information to Beneficiary, 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 that no Event of Default is continuing, Beneficiary Lender shall not request such information without reasonable cause (which reasonable cause shall include, without limitation, the occurrence of any default by the Tenant). Notwithstanding anything to the contrary contained herein, Grantor shall provide the Tenant Financial Information (A) annually, (B) each time under a new Major Income Lease is executed and (iii) upon any material change in or if such Tenant financial situation of which Grantor shall become aware. For purposes of this Section 1.12, ceases to conduct its business in the event Beneficiary does not approve or disapprove a requested (x) proposed new premises demised by such Major Income Lease, or a proposed modification, extension, termination of a Lease, within ten (10) Business Days, in each case from the date Beneficiary receives such request together with a copy of the final version of such proposed new Lease or proposed extension, modification or termination of an existing Lease, as the case may be, Grantor shall re-submit such request, with the notation “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE IS MADE WITHIN 5 DAYS” prominently displayed in bold, all caps, 14 point type or larger, at the top of each page of such re-submitted request and on any cover page or envelope, and if Beneficiary does not approve such request within five (5) calendar days from the date Beneficiary receives the re-submitted request, same shall be deemed approved).

Tenant Financial Information. Grantor Borrower shall cause the tenant under the TRS Lease (a "“Major Income Lease"”) to deliver to Grantor Borrower periodic operating statements with respect to (i) such Tenant's ’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"”). Notwithstanding the provisions of Section 1.12(b) above, any Major Income Lease entered into after the date hereof which does not require the Tenant to provide Tenant Financial Information upon request shall require the prior written approval of BeneficiaryLender. Grantor Borrower shall, from time to time promptly upon request of BeneficiaryLender, request Tenant Financial Information from the Tenant under each Major Income Lease (and use all commercially reasonable efforts to obtain such Tenant Financial Information), and promptly upon receipt thereof, deliver such Tenant Financial Information to BeneficiaryLender, provided, however, that provided no Event of Default is continuing, Beneficiary Lender shall not request such information without reasonable cause (which reasonable cause shall include, without limitation, the occurrence of any default by the Tenant). Notwithstanding anything to the contrary contained herein, Grantor Borrower shall provide the Tenant Financial Information (A) annually, (B) each time a new Major Income Lease is executed and (iii) upon any material change in such Tenant financial situation of which Grantor Borrower shall become aware. For purposes of this Section 1.12, in the event Beneficiary Lender does not approve or disapprove a requested (x) proposed new Lease, or a proposed modification, extension, termination of a Lease, within ten (10) Business Days, in each case from the date Beneficiary Lender receives such request together with a copy of the final version of such proposed new Lease or proposed extension, modification or termination of an existing Lease, as the case may be, Grantor Borrower shall re-submit such request, with the notation “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE IS MADE WITHIN 5 DAYS” prominently displayed in bold, all caps, 14 point type or larger, at the top of each page of such re-submitted request and on any cover page or envelope, and if Beneficiary Lender does not approve such request within five (5) calendar days from the date Beneficiary Lender receives the re-submitted request, same shall be deemed approved.