BOOKS AND RECORDS; FINANCIAL REPORTING. (a) Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent's office, and upon Lender's request shall make available at the Mortgaged Property (or, at Borrower's option, at the management agent's office), complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property. The books, records, contracts, Leases and other instruments shall be subject to examination and inspection by Lender at any reasonable time.
(b) Within 120 days after the end of each fiscal year of Borrower, Borrower shall furnish to Lender a statement of income and expenses for Borrower's operation of the Mortgaged Property for that fiscal year, a statement of changes in financial position of Borrower relating to the Mortgaged Property for that fiscal year and, when requested by Lender, a balance sheet showing all assets and liabilities of Borrower relating to the Mortgaged Property as of the end of that fiscal year. If Borrower's fiscal year is other than the calendar year, Borrower must also submit to Lender a year-end statement of income and expenses within 120 days after the end of the calendar year.
(c) Within 120 days after the end of each calendar year, and at any other time, upon Lender's request, Borrower shall furnish to Lender each of the following. However, Lender shall not require any of the following more frequently than quarterly except when there has been an Event of Default and such Event of Default is continuing, in which case Lender may, upon written request to Borrower, require Borrower to furnish any of the following more frequently:
(i) a rent schedule for the Mortgaged Property showing the name of each tenant, and for each tenant, the space occupied, the lease expiration date, the rent payable for the current month, the date through which rent has been paid, and any related information requested by Lender;
(ii) an accounting of all security deposits held pursuant to all Leases, including the name of the institution (if any) and the names and identification numbers of the accounts (if any) in which such security deposits are held and the name of the person to contact at such financial institution, along with any authority or release necessary for Lender to access information regarding such accounts; and
(iii) a statement...
BOOKS AND RECORDS; FINANCIAL REPORTING. Taxes; Operating Expenses; Ground Rents
BOOKS AND RECORDS; FINANCIAL REPORTING. (a) Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent’s office, and upon Xxxxxx’s request shall make available at the Mortgaged Property (or, at Borrower’s option, at the management agent’s office), complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, in accordance with GAAP consistently applied (or such other method which is reasonably acceptable to Lender), and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property. The books, records, contracts, Leases and other instruments shall be subject to examination and inspection by Lender at any reasonable time.
(b) Borrower shall furnish to Lender each of the following:
(i) if, in connection with this Loan, the Borrower purchased the Mortgaged Property, a statement of income and expenses for Borrower’s operation of the Mortgaged Property from the origination date to the end of the first full calendar quarter following such origination date, such statement to be provided within twenty-five (25) days after the end of such quarter; or
(ii) for all other cases (for example, a refinance of a loan, a purchase of partnership or other interests, or new debt being placed on the Mortgaged Property), a statement of income and expenses for Xxxxxxxx’s operation of the Mortgaged Property for the trailing six (6) months, such statement to be provided within twenty-five (25) days after the end of such quarter.
(iii) after Borrower has furnished such statements required by Section 14(b)(i) or (ii) above, within twenty-five (25) days after the end of each subsequent calendar quarter of Borrower,
(A) a Rent Schedule; and
(B) a statement of income and expenses for Xxxxxxxx’s operation of the Mortgaged Property for that calendar quarter;
(c) Within ninety (90) days after the end of each fiscal year of Borrower, Borrower shall furnish to Lender each of the following:
(i) an annual statement of income and expenses for Xxxxxxxx’s operation of the Mortgaged Property for that fiscal year;
(ii) a statement of changes in financial position of Borrower relating to the Mortgaged Property for that fiscal year;
(iii) a balance sheet showing all assets and liabilities of Borrower relating to the Mortgaged Property as of the end of that fiscal year and a profit and loss statement for Borrower; and
(iv) an accounting of all security depos...
BOOKS AND RECORDS; FINANCIAL REPORTING. Borrower shall keep adequate records and books of account with respect to its business activities, in which proper entries are made that are sufficient to prepare financial statements in accordance with GAAP; and furnish to Bank: (1) as soon as available, and in any event within 90 days after the end of each Fiscal Year, balance sheets as of the end of such Fiscal Year and the related statements of income, cash flow and stockholders' equity for such Fiscal Year, on consolidated basis for Borrower and its Subsidiaries, which consolidated statements shall be audited and certified (without qualification as to going concern or scope of audit and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP and that the audit by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards in the United States) by a firm of independent certified public accountants of recognized standing selected by Borrower and reasonably acceptable to Bank (it being understood that KPMG LLP is acceptable to Bank), and shall set forth in comparative form corresponding figures for the preceding Fiscal Year; (2) as soon as available, and in any event within 45 days after the end of each of the first three Fiscal Quarters in any Fiscal Year, unaudited balance sheets as of the end of such Fiscal Quarter and the related statements of income and cash flow for such Fiscal Quarter and for the portion of the Fiscal Year then elapsed, on consolidated basis for Borrower and its Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and certified by the chief financial officer of Borrower as prepared in accordance with GAAP and fairly presenting in all material respects the financial position and results of operations for Borrower and its Subsidiaries for such Fiscal Quarter and period, subject to normal year‑end adjustments and the absence of footnotes; (3) concurrently with delivery of financial statements under clauses (1) and (2) above, or more frequently if requested by Bank while a Default or Event of Default exists, a Compliance Certificate executed by the chief financial officer or treasurer of Borrower; (4) concurrently ...
BOOKS AND RECORDS; FINANCIAL REPORTING. (a) In connection with the Closing, (i) at the Closing, all tangible books and records primarily related to the Acquired Companies and the Business shall be transferred to Buyer, including by possession of the Real Property and (ii) promptly following Closing, Seller shall transfer, or cause to be transferred, to Buyer all tangible books and records primarily related to the Acquired Companies and the Business and original corporate records of the Acquired Companies relating to the legal existence, ownership and corporate governance of the Acquired Companies, in each case, that are not located on the Real Property or otherwise possessed or controlled by the Acquired Companies (including any records to be made available to Buyer as set forth in the definition of Excluded Books and Records). Prior to the Closing, Seller and Buyer shall cooperate in good faith to develop and implement a plan that will result in the delivery or transfer of, or post-Closing access to, all other books and records to the extent related to the Acquired Companies and the Business to Buyer or the Acquired Companies at, or as soon as reasonably practicable following, the Closing. Subject to Section 9.5(a), except as otherwise required by applicable Law, the Parent Group and the Seller Group shall have the right to retain copies of all books and records of the Acquired Companies and the Business relating to periods ending on or prior to the Closing Date, in each case, that primarily relate to the Retained Business. Notwithstanding anything in this Agreement to the contrary, the Parent Group and the Seller Group shall have the right to retain the Excluded Books and Records (subject to the obligations to deliver certain records to Buyer as set forth in the definition of Excluded Books and Records).
BOOKS AND RECORDS; FINANCIAL REPORTING. (a) Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent's offices, and upon Lender's request shall make available at the Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property. The books, records, contracts, Leases and other instruments shall be subject to examination and inspection at any reasonable time by Lender.
BOOKS AND RECORDS; FINANCIAL REPORTING.
(a) Guarantor shall keep and maintain at all times at the Mortgaged Property or the management agent’s offices, and upon Xxxxxx’s request shall make available at the Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other instruments which affect the Mortgaged Property. The books, records, contracts, Leases and other instruments shall be subject to examination and inspection at any reasonable time by Xxxxxx.
(b) If an Event of Default has occurred and is continuing, Guarantor shall deliver to Lender upon written demand all books and records relating to the Mortgaged Property or its operation.
BOOKS AND RECORDS; FINANCIAL REPORTING. (a) Borrower shall keep and maintain at all times at the Mortgaged Property or the management agent’s offices, and upon Xxxxxx’s request shall make available at the Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the Mortgaged Property, and copies of all written contracts, Leases, and other Mortgages which affect the Mortgaged Property. The books, records, contracts, Leases and other Mortgages shall be subject to examination and inspection at any reasonable time by Lender.
(b) If an Event of Default has occurred and is continuing, Borrower shall deliver to LHC upon written demand all books and records relating to the Project or its operation. If LHC has not previously required Borrower to furnish a quarterly statement of income and expenses for the Project, LHC may require
(x) Xxxxxxxx authorizes LHC to obtain a credit report on Borrower at any time.
BOOKS AND RECORDS; FINANCIAL REPORTING. (a) Borrower shall keep and maintain at all times at the MRLF Mortgaged Property or the management agent’s offices, and upon Lender’s request shall make available at the MRLF Mortgaged Property, complete and accurate books of account and records (including copies of supporting bills and invoices) adequate to reflect correctly the operation of the MRLF Mortgaged Property, and copies of all written contracts, Leases, and other MRLF Mortgages which affect the MRLF Mortgaged Property. The books, records, contracts, Leases and other MRLF Mortgages shall be subject to examination and inspection at any reasonable time by Lender.
(b) If an Event of Default has occurred and is continuing, Borrower shall deliver to LHC upon written demand all books and records relating to the Project or its operation. If LHC has not previously required Borrower to furnish a quarterly statement of income and expenses for the Project, LHC may require Borrower to furnish such a statement within forty-five (45) days after the end of each fiscal quarter of Borrower following such Event of Default. In such event, LHC shall have the right to have an audit conducted pursuant to subsection (d) hereof.
(c) Borrower authorizes LHC to obtain a credit report on Borrower at any time.
BOOKS AND RECORDS; FINANCIAL REPORTING. The provisions of Section 8.03 to 8.05 of the Master Agreement entitled “Financial Statements; Accountants’ Reports; Other Information”; “Access to Records; Discussions With Officers and Accountants”; and “Certificate of Compliance” are incorporated by this reference into this Instrument to the fullest extent as if the text of such Sections were set forth in its entirety herein.
