After request by Lender Clause Samples
The "After request by Lender" clause establishes the borrower's obligation to take certain actions or provide specific information upon receiving a formal request from the lender. In practice, this may require the borrower to deliver financial statements, certificates, or other documentation within a set timeframe after the lender asks for them. This clause ensures the lender can monitor compliance and assess risk throughout the loan term, thereby protecting their interests and maintaining transparency.
After request by Lender. Borrower shall use its commercially reasonable efforts to deliver to Lender, tenant estoppel certificates from each commercial tenant leasing space at the Properties pursuant to a Major Lease in form and substance reasonably satisfactory to Lender provided that Borrower shall not be required to deliver such certificates more frequently than two (2) times in any calendar year.
After request by Lender. Borrower will cause Senior Mezzanine Borrower to cause Mortgage Borrower and/or Operating Lessee to make commercially reasonable efforts to promptly obtain from the Condominium Board and deliver to Lender an estoppel certificate which shall include without limitation (i) the amount of the unpaid Common Charges, if any, accrued against Mortgage Borrower’s Condominium Unit, (ii) a statement that the Condominium Documents have not been modified or amended or setting forth the amendments or modifications, (iii) that all payments due and payable by Borrower, Mortgage Borrower or Operating Lessee under the Condominium Documents have been paid in full or setting forth any unpaid amounts, and (iv) that, to such party’s knowledge, neither Mortgage Borrower, Operating Lessee nor the Condominium Board is in default under the Condominium Documents or setting forth in reasonable detail any continuing defaults thereunder.
After request by Lender. Borrower shall within ten (10) Business Days cause Mortgage Borrower to furnish Lender with a statement addressed to Lender, its successors and assigns, duly acknowledged and certified, setting forth (i) the unpaid Principal (as defined in the Mortgage Loan Agreement), (ii) the Interest Rate (as defined in the Mortgage Loan Agreement), (iii) the date installments of interest or Principal (as defined in the Mortgage Loan Agreement) were last paid, (iv) any offsets or defenses to the payment of the Debt (as defined in the Mortgage Loan Agreement), (v) that no Default or Event of Default (each as defined in the Mortgage Loan Agreement) exists under the Mortgage Loan Documents, and (vi) that the Mortgage Loan Documents are valid, legal and binding obligations and have not been modified or if modified, giving particulars of such modification.