Offset Statement Attornment Subordination Clause Samples

Offset Statement Attornment Subordination. 30.1. After request therefore by Landlord, or in the event that upon any sale, assignment or hypothecation of the Premises by Landlord, an offset statement and/or estoppel certificate shall be required from Tenant, Tenant agrees to deliver a certificate, in recordable form, to any proposed lender or purchaser, or to Landlord, certifying: (1) The Commencement Date; (2) the fact that this Lease is unmodified and in full force and effect (or, if there have been modifications hereto, that this Lease is in full force and effect, and stating the date and nature of such modifications); (3) the date to which the rental and other sums payable under this Lease have been paid; (4) that there are no defenses or offsets thereto, or stating those claimed by Tenant; (5) that there are no current defaults under this Lease by either Landlord or Tenant except as specified in Tenant's statement; and (6) such other reasonable factual statements requested by Landlord, or any proposed lender and/or purchaser. Landlord and Tenant intend that any mortgagee, beneficiary, purchaser or prospective purchaser of the Building, Project or any interest therein, may rely upon any statement delivered pursuant to this Article. Tenant shall deliver the certificate, in the form proposed by the requesting entity, within ten (10) business days after the request is received by Tenant. Tenant's failure to deliver such statements within such time shall be conclusive upon the Tenant that this Lease is in full force and effect, except as and to the extent any modification has been represented by Landlord, and that there are no uncured defaults in Landlord's performance and that not more than one month's rent has been paid in advance. Such failure also constitutes a default of this Lease. In such event, Tenant is estopped from denying the truth of the facts contained in the statement submitted to Tenant. 30.2. Tenant will, within ten (10) business days after Tenant's receipt of Landlord's request at any time during the Term (but no more frequently than once in any twelve (12) month period), deliver to Landlord complete, accurate and up-to-date financial statements (including the current year and the two years prior to the current financial statement year) with respect to Tenant and any Guarantor(s) or other parties obligated upon this Lease, which financial statements must be (a) prepared according to generally accepted accounting principles consistently applied, and (b) certified by an independent c...