Common use of Report Updates Clause in Contracts

Report Updates. 5.17.1 Lender reserves the right at any time during the term of the Loan to conduct or require Borrower to update any environmental reports previously delivered to Lender or, in the absence thereof, to conduct such environmental inspections, audits and tests as Lender shall deem necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests more often than once a year so long as: (i) no Event of Default exists under this Agreement or any other Loan Document; (ii) Lender has no cause to believe, in Lender's sole but good faith judgment, that there has been a release or a threatened release of Hazardous Substances at the Property or that Borrower or the Property is in violation of any applicable Environmental Law, (iii) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 hereof; and (iv) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to Lender. In the event that any environmental site assessment report prepared for the Property recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation. 5.17.2 Lender shall have the right from time to time throughout the term of the Loan with respect to any Property to order additional Engineering Reports with respect to the Property. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.4; provided, that Borrower shall not be required to pay for such additional Engineering Reports more frequently than once every calendar year unless (w) an Event of Default has occurred, (x) any such additional Engineering Report is being obtained pursuant to Section 7.26 hereof, (y) any such additional Engineering Report is required by applicable Requirements to be obtained or (z) in Lender's sole but good faith judgment, a material adverse change in the condition of the Property has occurred. 5.17.3 Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.

Report Updates. 5.17.1 Lender reserves the right at any time during the term of the Loan Term to conduct or require Borrower to update any environmental reports previously delivered to Lender orconduct, in the absence thereofat Borrower's expense, to conduct such environmental inspections, audits and tests as Lender shall deem reasonably necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests more often than once a year so long as: : (ia) no Event of Default exists under this Agreement or any other Loan Document; ; (iib) Lender has no cause reason to believe, in Lender's sole but good faith judgment, that there has been a release or a threatened release of Hazardous Substances at the Property Premises or that Borrower or the Property Premises is in violation of any applicable Environmental Law, ; (iiic) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 6.27 hereof; and and (ivd) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to LenderPremises. In the event that any environmental site assessment report prepared for the Property Premises recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation. 5.17.2 . Lender shall have the right from time to time throughout the term of the Loan with respect to any Property Term to order additional Engineering Reports engineering reports with respect to the PropertyPremises. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.46.4 hereof; provided, however, that Borrower shall not be required to pay for such additional Engineering Reports more frequently than once every calendar year engineering reports unless (wi) an Event of Default has occurred, (xii) any such additional Engineering Report engineering report is being obtained pursuant to Section 7.26 6.27 hereof, (yiii) any such additional Engineering Report engineering report is required by applicable Legal Requirements to be obtained obtained, or (ziv) in Lender's sole but good faith judgment, a material adverse change in the condition of the Property Premises has occurred. 5.17.3 . Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.

Report Updates. 5.17.1 Lender reserves the right at any time during the term of the Loan to conduct or require Borrower to update any environmental reports previously delivered to Lender or, in the absence thereof, to conduct such environmental inspections, audits and tests as Lender shall deem necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests test more often than one time during the original term of the Loan plus once a year so long during any Extension Period as: (i) no Event of Default exists under this Agreement or any other Loan Document; and (ii) Lender has no cause to believe, in Lender's sole but good faith reasonable judgment, that there has been a release or a threatened release of Hazardous Substances at the Property Properties or that Borrower or the Property Properties is in violation of any applicable Environmental Law, (iii) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 hereof; and (iv) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to LenderProperties. In the event that any environmental site assessment report prepared for the Property Properties recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such shall operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation. 5.17.2 Lender shall have the right from time to time throughout the term of the Loan with respect to any Property to order additional Engineering Reports with respect to any of the PropertyProperties. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.45.4; provided, that Borrower shall not be required to pay for such additional Engineering Reports more frequently than once every calendar year unless (w) an Event of Default has occurred, (x) any such additional Engineering Report is being obtained pursuant to Section 7.26 5.26 hereof, (y) any such additional Engineering Report is required by applicable Requirements to be obtained or (z) in Lender's sole but good faith reasonable judgment, a material an adverse change in the condition of the an Individual Property has occurred. 5.17.3 Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.

Report Updates. 5.17.1 (a) Lender reserves the right at any time during the term of the Loan Term to conduct or require Borrower to update any environmental reports previously delivered to Lender orconduct, in the absence thereofat Borrower's expense, to conduct such environmental inspections, audits and tests as Lender shall deem reasonably necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests more often than once a year so long as: (i) no Event of Default exists under this Agreement or any other Loan Document or Facility Document; (ii) Lender has no cause to believe, in Lender's sole but good faith judgment, that there has been a release or a threatened release of Hazardous Substances at the Property or that Borrower or the Property is in violation of any applicable Environmental Law, ; (iii) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 9.26 hereof; and (iv) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to Lender. In the event that any environmental site assessment report prepared for the Property recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation. 5.17.2 (b) Lender shall have the right from time to time throughout the term of the Loan Tenn to order engineering reports with respect to any Property to order additional Engineering Reports with respect to the Property. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.49.4 hereof; provided, however, that Borrower shall not be required to pay for such additional Engineering Reports more frequently than once every calendar year engineering reports unless (wi) an Event of Default has occurred, (xii) any such additional Engineering Report engineering report is being obtained pursuant to Section 7.26 9.26 hereof, (yiii) any such additional Engineering Report engineering report is required by applicable Legal Requirements to be obtained obtained, or (ziv) in Lender's sole but good faith judgment, a material an adverse change in the condition of the any Property has occurred. 5.17.3 (c) Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.

Report Updates. 5.17.1 (a) Lender reserves the right at any time during the term of the Loan Term to conduct or require Borrower to update any environmental reports previously delivered to Lender orconduct, in the absence thereofat Borrower's expense, to conduct such environmental inspections, audits and tests as Lender shall deem reasonably necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests more often than once a year every two (2) years so long as: (i) no Event of Default exists under this Agreement or any other Loan Document; (ii) Lender has no cause to believe, in Lender's sole but good faith judgment, that there has been a release or a threatened release of Hazardous Substances at the Property Premises or that Borrower or the Property Premises is in violation of any applicable Environmental Law, ; (iii) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 6.27 hereof; and (iv) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to LenderPremises. In the event that any environmental site assessment report prepared for the Property Premises recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation.be 5.17.2 (b) Lender shall have the right from time to time throughout the term of the Loan with respect to any Property Term to order additional Engineering Reports engineering reports with respect to the PropertyPremises. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.46.4 hereof; provided, however, that Borrower shall not be required to pay for such additional Engineering Reports engineering reports more frequently than once every calendar year two (2) years unless (wi) an Event of Default has occurred, (xii) any such additional Engineering Report engineering report is being obtained pursuant to Section 7.26 6.27 hereof, (yiii) any such additional Engineering Report engineering report is required by applicable Legal Requirements to be obtained obtained, or (ziv) in Lender's sole but good faith judgment, a material an adverse change in the condition of the Property Premises has occurred. 5.17.3 (c) Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.

Report Updates. 5.17.1 (a) Lender reserves the right at any time during the term of the Loan Term to conduct or require Borrower to update any environmental reports previously delivered to Lender orconduct, in the absence thereofat Borrower's expense, to conduct such environmental inspections, audits and tests as Lender shall deem reasonably necessary or advisable from time to time utilizing a company acceptable to Lender; provided, however, that Borrower shall not be required to pay for such environmental inspections, audits and tests more often than once a year so long as: (i) no Event of Default exists under this Agreement or any other Loan Document; (ii) Lender has no cause to believe, in Lender's sole but good faith judgment, that there has been a release or a threatened release of Hazardous Substances at the Property Premises or that Borrower or the Property Premises is in violation of any applicable Environmental Law, ; (iii) such inspections, audits and tests are not being obtained in satisfaction of the provisions of Section 7.26 6.27 hereof; and (iv) such inspection, audit or test has not been recommended in any other audit, inspection, test or consultants report previously conducted with respect to the Property. Borrower shall be provided with a copy of any such report prepared for Lender promptly after such report is delivered to LenderPremises. In the event that any environmental site assessment report prepared for the Property Premises recommends that an operations and maintenance plan be implemented for any Hazardous Substance, including, without limitation, asbestos, Borrower shall cause such operations and maintenance plan to be prepared and implemented at Borrower's expense upon request of Lender and in accordance with the recommendation. 5.17.2 (b) Lender shall have the right from time to time throughout the term of the Loan with respect to any Property Term to order additional Engineering Reports engineering reports with respect to the PropertyPremises. Such additional engineering reports shall be paid for by Borrower in accordance with Section 7.46.4 hereof; provided, however, that Borrower shall not be required to pay for such additional Engineering Reports more frequently than once every calendar year engineering reports unless (wi) an Event of Default has occurred, (xii) any such additional Engineering Report engineering report is being obtained pursuant to Section 7.26 6.27 hereof, (yiii) any such additional Engineering Report engineering report is required by applicable Legal Requirements to be obtained obtained, or (ziv) in Lender's sole but good faith judgment, a material an adverse change in the condition of the Property Premises has occurred. 5.17.3 (c) Lender shall not be liable for any action or inaction by Borrower with respect to any remedial or other response activity in connection with any Hazardous Substance or any repair or replacement recommended in any engineering report, notwithstanding any review or approval of Borrower's method of remediation or repair or replacement, as applicable, or any response by Lender.