Common use of Status Statements Clause in Contracts

Status Statements. Any Party (the “Requesting Party”) may, at any time, and from time to time, deliver written notice to any other Party requesting such other Party (the “Providing Party”) to provide in writing that, to the knowledge of the Providing Party, (a) this Agreement is in full force and effect and a binding obligation of the Parties, (b) this Agreement has not been amended or modified either orally or in writing, and if so amended, identifying the amendments, and (c) the Requesting Party is not in default in the performance of its obligations under this Agreement, or if in default, to describe therein the nature and amount of any such defaults (a “Status Statement”). A Providing Party receiving a request hereunder shall execute and return such Status Statement within fifteen (15) days following the receipt thereof. The City Manager or designee shall have the right to execute any Status Statement requested by an Owner hereunder. The City acknowledges that a Status Statement hereunder may be relied upon by transferees and mortgagees. The City shall have no liability for monetary damages to an Owner, transferee or mortgagee, or any other person in connection with, resulting from or based upon the issuance of any Status Statement hereunder.

Status Statements. Any Party (the “Requesting Party”) may, at any time, and from time to time, deliver written notice to any other Party requesting such other Party (the “Providing Party”) to provide in writing that, to the knowledge of the Providing Party, : (ai) this Agreement is in full force and effect and a binding obligation of the Parties, ; (bii) this Agreement has not been amended or modified either orally or in writing, and if so amended, identifying the amendments, and ; (ciii) the Requesting Party is not in default in the performance of its obligations under this Agreement, or if in default, to describe therein the nature and amount of any such defaults defaults; and whether, to the knowledge of the Providing Party, any event has occurred or failed to occur which, with the passage of time or the giving of notice, or both, would constitute a default and, if so, specifying each such event (a “Status Statement”). A Providing Party receiving a request hereunder shall execute and return such Status Statement within fifteen (15) 10 days following the receipt thereof. The City Manager or designee Town shall have the right to execute any Status Statement requested by an Owner Developer hereunder. The City Town acknowledges that a Status Statement hereunder may be relied upon by transferees and mortgagees. The City Town shall have no liability for monetary damages to an OwnerDeveloper, and transferee or mortgagee, or any other person in connection with, resulting from or based upon the issuance of any Status Statement hereunder.