Common use of OFFSET STATEMENT Clause in Contracts

OFFSET STATEMENT. Either party shall at any time and from time to time within ten (10) days following request from the other party execute, acknowledge and deliver to such requesting party a statement in writing, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect); (ii) acknowledging that there are not, to such party’s knowledge, any uncured defaults on the part of the other party hereunder, or specifying such defaults if any are claimed; (iii) if Lessor is the requesting party, certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; (iv) certifying the date to which Rentals and other charges are paid in advance, if any; (v) certifying the current amount of Base Rent due under the Lease; (vi) if Lessor is the requesting party, evidencing the status of this Lease, as may be required either by a lender making a loan affecting, or a purchaser of, the Premises from Lessor; (vii) if Lessor is the requesting party, warranting that if any beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit; (viii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, if applicable, and (ix) certifying such other matters relating to this Lease and/or the Premises as may be reasonably requested by a lender making a loan to Lessor or a purchaser of the Premises from Lessor. Any such statement may be relied upon by any prospective purchaser, encumbrancer or transferee of all or any portion of the Premises or any interest therein. Lessee shall, within ten (10) days following request of Lessor, deliver such other documents including Lessee’s financial statements as are reasonably requested in connection with the sale of, or loan to be secured by, any portion of the Premises or any interest therein.

OFFSET STATEMENT. Either party (a) Tenant shall at any time and from time to time within upon not less than ten (10) days following request prior written notice from the other party Landlord execute, acknowledge and deliver to such requesting party Landlord a statement in writing, writing (i) certifying that this Lease lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease lease, as so modified modified, is in full force and effect); ) and the dates to which the Minimum Rent and additional rent are paid in advance, if any, (ii) acknowledging that indicating whether there are not, to such partyTenant’s knowledge, any uncured defaults on the part of the other party Landlord hereunder, or specifying such defaults if any are claimed; claimed and (iii) if Lessor is the requesting party, certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; (iv) certifying the date to which Rentals and other charges are paid in advance, if any; (v) certifying the current amount of Base Rent due under the Lease; (vi) if Lessor is the requesting party, evidencing the status of this Lease, as may be required either by a lender making a loan affecting, or a purchaser of, the Premises from Lessor; (vii) if Lessor is the requesting party, warranting that if any beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit; (viii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, if applicable, and (ix) certifying indicating whether such other matters relating to this Lease and/or the Premises facts as may be reasonably requested are included in such statement by a lender making a loan to Lessor or a purchaser of the Premises from LessorLandlord are accurate. Any such statement may be relied upon by any prospective purchaser, purchaser or encumbrancer of the Premises or transferee of all or any portion of the Premises Premises. (b) Tenant’s failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, (iii) that not more than one month’s Minimum Rent has been paid in advance and (iv) that any other statements of fact included by Landlord in the statement are correct. (c) Tenant shall be liable for all loss, cost or expense resulting from the failure of any interest thereinsale or funding of any loan caused by any intentional material misstatement contained in any estoppel certificate supplied by Tenant. Lessee shallTenant irrevocably appoints Landlord as attorney-in-fact for Tenant with full power and authority to execute and deliver in the name of Tenant an estoppel certificate if Tenant fails to deliver the same within such ten (10) day period, within and such certificate as signed by Landlord, shall be binding on Tenant. (d) In the event this lease will be used as collateral for a loan made to Tenant, Landlord shall upon not less than ten (10) days following request prior written notice from Tenant execute, acknowledge and deliver to Tenant a statement in writing (1) certifying that this lease is unmodified and in full force and effect (or, is modified, stating the nature of Lessorsuch modification and certifying that this lease, deliver as so modified, is in full force and effect) and the dates to which the Minimum Rent and additional rent have been paid in advance, if any, (ii) indicating whether there are to Landlord’s knowledge, any uncured defaults on the part of Tenant hereunder, or specifying such defaults, if any, are claimed and (iii) indicating whether such other documents including Lessee’s financial statements facts as are reasonably requested included in connection with the sale of, or loan to be secured by, any portion of the Premises or any interest thereinsuch statement by Tenant are accurate.

OFFSET STATEMENT. Either party Lessee shall at any time and from time to time within ---------------- ten (10) days following request from the other party Lessor execute, acknowledge and deliver to such requesting party Lessor a statement in writing, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect); , (ii) acknowledging that there are not, to such party’s Lessee's knowledge, any uncured defaults on the part of the other party Lessor hereunder, or specifying such defaults if any are claimed; , (iii) if Lessor is the requesting party, certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; , (iv) certifying the date to which Rentals and other charges are paid in advance, if any; , (v) certifying the current amount of Base Rent due under the Lease; (vi) if Lessor is the requesting party, evidencing the status of this Lease, Lease as may be required either by a lender making a loan affecting, affecting or a purchaser ofof the Premises, or part of the Premises Project from Lessor; , (viivi) if Lessor is the requesting party, warranting that if any beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit; , (viiivii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, if applicable, and (ixviii) certifying such other matters relating to this Lease and/or the Premises as may be reasonably requested by a lender making a loan to Lessor or a purchaser of the Premises Premises, or any part of the Project from Lessor. Any such statement may be relied upon by any prospective purchaser, purchaser or encumbrancer or transferee of all or any portion of the Premises Project, or any interest therein. Lessee shall, within ten (10) days following request of Lessor, deliver such other documents including Lessee’s 's financial statements as are reasonably requested in connection with the sale of, or loan to be secured by, any portion of the Premises Project, or any interest therein.

OFFSET STATEMENT. Either party shall at Within ten (10) days after written request therefor by Landlord, or in the event of any time sale, assignment or hypothecation of the premises and/or the Project or any portion thereof, by Landlord, Tenant agrees to deliver in recordable form a certificate to any proposed mortgagee, trust deed beneficiary or purchaser, or to Landlord, in form satisfactory to the addressee, certifying as to (a) the date of this lease and from time any amendments thereto, (b) the date upon which this lease term commenced and will end, (c) the fact that this lease, as so amended, is in full force and effect and has not been modified except as stated, (d) whether any rentals are then prepaid or unpaid hereunder, (e) whether any defaults then exist hereunder, (f) whether Tenant claims any offsets or defenses to time any obligation imposed hereunder and (g) any other information reasonably requested of Tenant. If Tenant is provided with a proposed form of such certificate, and fails to execute same within ten (10) days following request from the other party executeafter receipt thereof, acknowledge Tenant agrees that all statements made in such proposed certificate shall be deemed true and deliver to such requesting party a statement in writingbinding upon Tenant for all purposes. Tenant acknowledges that any proposed mortgagee, (i) certifying that this Lease is unmodified and in full force and effect (ortrust deed beneficiary, if modifiedor purchaser, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect); (ii) acknowledging that there are notor Landlord, to such party’s knowledge, any uncured defaults may rely on the part truth of statements set forth in such certificate as executed by Tenant or may rely upon the failure of Tenant to execute such statement within said ten (10) day period as conclusive evidence of the other party hereunder, or specifying such defaults if any are claimed; (iii) if Lessor is the requesting party, certifying the date Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; (iv) certifying the date to which Rentals and other charges are paid in advance, if any; (v) certifying the current amount of Base Rent due under the Lease; (vi) if Lessor is the requesting party, evidencing the status of this Lease, as may be required either by a lender making a loan affecting, or a purchaser of, the Premises from Lessor; (vii) if Lessor is the requesting party, warranting that if any beneficiary of any security instrument encumbering the Premises forecloses on the security instrument, such beneficiary shall not be liable for the Security Deposit; (viii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items which do not prevent Lessee from using the Premises for its intended use, if applicable, and (ix) certifying such other matters relating to this Lease and/or the Premises as may be reasonably requested by a lender making a loan to Lessor or a purchaser of the Premises from Lessortruth thereof. Any such statement may be relied upon by any prospective purchaser, encumbrancer or transferee of all or any portion of the Premises or any interest therein. Lessee shall, within Within ten (10) days following after written request of Lessortherefor by Tenant, Landlord agrees to deliver in recordable form to Tenant, in form satisfactory to the addressee, such other documents including Lesseeoffset statement certifying to the matters described above, but as to Landlord’s financial statements as are reasonably requested interest in connection with the sale of, or loan to be secured by, any portion of the Premises or any interest thereinlease.