Verification Contractor. The Initial Member and the Advance Lender shall have the right, in their sole discretion, to retain, and at any or all times be a party to a written agreement with, a Verification Contractor (as selected by the Initial Member and the Advance Lender in their sole discretion), for the performance by such Verification Contractor of the services set forth with respect thereto in the Transaction Documents (and such related services as the Initial Member may request from time to time), including (i) as so retained by the Advance Lender for purposes of the Advance Facility, verifying that the documents submitted as a condition precedent to funding under Sections 2.11 and 2.12 of the Advance Facility Agreement are satisfactory, and (ii) as so retained by the Initial Member, (A) assisting the Initial Member in review of Business Plans (including any updates thereto) and provision of recommendations to the Company with respect thereto, and (B) with respect to Development Contributions, (1) assisting the Initial Member in its review of any Development Contribution Requests, including the Asset Development Plan attached thereto, and recommending whether such Development Contribution Request and related Asset Development Plan should be approved, (2) assisting the Initial Member and/or the Company, as applicable, in connection with administration of the Initial Member Development Funding Account and the Company Development Account, and (3) verifying that all funds released from the Company Development Account are used exclusively for the purposes described in the relevant approved Asset Development Plan, pursuant to Sections 5.3(b) and 12.3(c) of this Agreement and applicable provisions of the Custodial and Paying Agency Agreement (which verification may, as determined by the Initial Member and/or such Verification Contractor, require physical inspections to confirm completion of applicable items in accordance with such approved Asset Development Plan). The Verification Contractor Amounts shall be borne by the Company, and be paid (or, as applicable, reimbursed to the Initial Member) on each Distribution Date out of the applicable funds in the Distribution Account in accordance with the Priority of Payments.
Verification Contractor. The Initial Member shall have the right, in its sole discretion, to retain, and at any or all times be a party to a written agreement with, a Verification Contractor (as selected by the Initial Member in its sole discretion), for the performance by such Verification Contractor of the services set forth with respect thereto in the Transaction Documents (and such related services as the Initial Member may request from time to time), including (as so retained by the Initial Member) (A) assisting the Initial Member in review of Business Plans (including any updates thereto) and provision of recommendations to the Company with respect thereto, and (B) with respect to Horizontal Development, (1) assisting the Initial Member in its review of any Horizontal Development Approval Request, including the Horizontal Development Plan attached thereto, and recommending whether such Horizontal Development Approval Request and related Horizontal Development Plan should be approved, and (2) verifying that all Company funds used for Horizontal Development are used exclusively for the purposes described in the relevant approved Horizontal Development Plan, pursuant to Section 12.13 of this Agreement and applicable provisions of the Custodial and Paying Agency Agreement (which verification may, as determined by the Initial Member and/or such Verification Contractor, require physical inspections to confirm completion of applicable items in accordance with such approved Horizontal Development Plan). The Verification Contractor Amounts shall be borne by the Company, and be paid (or, as applicable, reimbursed to the Initial Member) on each Distribution Date out of the applicable funds in the Distribution Account in accordance with the Priority of Payments.
