Common use of Verification Rights Clause in Contracts

Verification Rights. At Registrant's sole cost and expense, Depositor grants to Registrant the option to verify the Deposit for accuracy, completeness and sufficiency. Depositor agrees to permit at least one employee of Escrow Agent or an independent consultant reasonably acceptable to Depositor, at Registrant's election to be present at Depositor's facility to verify, audit, and inspect the Deposit to be held by Escrow Agent to confirm the quality and/or content of the Deposit for the benefit of Registrant. If Escrow Agent is selected to perform the verification Escrow Agent will be paid according to its then current fees.