Lender Consultant definition
Examples of Lender Consultant in a sentence
Notwithstanding the aforesaid or anything else provided in this Agreement to the contrary, Borrower shall not be entitled to rely on any statements or actions of the Lender Consultant or any of Lender’s other consultants and neither the Lender Consultant nor any other consultant retained by Lender shall have the power or authority to grant any consents or approvals or bind Lender in any manner, absent confirmation by Lender of the accuracy of the information conveyed by such consultant to Borrower.
A written report(s) prepared at Borrower’s expense by the Lender Consultant, which report(s) shall be based upon an evaluation and/or investigation of specific factors and shall describe in detail the investigation and evaluations, as well as the findings.
Borrower hereby agrees to pay or reimburse Lender for the reasonable costs charged by the Lender Consultant in connection with review and approval of all plans, specifications, contracts, budgets and related matters, inspection of the Project, and approval of Disbursement Requests.
The Plans must be satisfactory to Lender and Lender Consultant in all respects and must be approved in writing by Lender.
Borrower shall, and to the extent commercially feasible, will cause the Architect and General Contractor to, respond promptly to questions concerning the design and construction of the Project from Lender Consultant.
Borrower covenants and agrees to cooperate fully with the Lender Consultant and any other consultants retained by Lender, including but not limited to providing such consultants full access to the Property, providing coordination between such consultants and the contractors and any representatives of Borrower involved with the Project, providing any information or reports concerning the Project requested by such consultants, and providing any other assistance requested by such consultants.
Borrower shall provide to Lender a schedule for the prompt incorporation thereof into the Property, and unless the Lender Consultant has verified and approved the cost and acquisition of said materials, their physical presence at the approved storage site, and the security and protection provided therefor, no disbursement by Lender for such materials shall be made.
Borrower shall deliver to Lender and Lender Consultant, upon receipt by Borrower from General Contractor, any Change Order proposed by General Contractor which would, if accepted, constitute a Material Change Order, but only if Borrower intends to accept such Change Order.
Upon certification by the Architect and Lender Consultant that the work of any Subcontractor has been satisfactorily completed, the remaining retainage applicable to such Subcontract may be paid to the Subcontractor.
For many or all Other Clients, including Lender, Consultant has confidentiality obligations which require Consultant to maintain the confidentiality of information pertaining to such Other Clients.