Common use of Additional Reporting Requirement Clause in Contracts

Additional Reporting Requirement. A written description of any changes to the beneficial ownership information set out in Section 14 of the Perfection Certificate in the Compliance Certificate. Borrower understands and acknowledges that each Lender relies on such true, accurate and up-to-date beneficial ownership information to meet such Lender’s regulatory obligations to obtain, verify and record information about the beneficial owners of its legal entity customers; and

Additional Reporting Requirement. A Prompt written description notice of any changes to the beneficial ownership information set out in Section 14 of the Perfection Certificate in the Compliance Certificate. Borrower understands and acknowledges that each Lender Bank relies on such true, accurate and up-to-date beneficial ownership information to meet such LenderBank’s regulatory obligations to obtain, verify and record information about the beneficial owners of its legal entity customers; and