Common use of Certification of Status Clause in Contracts

Certification of Status. Guarantor shall at any time and from time to time upon not less than ten (10) business days’ prior notice from Landlord, execute, acknowledge and deliver to Landlord a statement in writing certifying that this Guaranty is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating the modifications) it being intended that any such statement delivered pursuant hereto may be relied upon by any prospective purchaser of the Building or of any interest of Landlord therein, any Mortgagee or prospective Mortgagee thereof, any lessor or prospective lessor thereof, any lessee or prospective lessee thereof, or any prospective assignee of any mortgage thereof. If Guarantor fails to execute, acknowledge and deliver such a statement within such 10-day period, Landlord may send a notice to Guarantor thereof (which notice shall be delivered in an envelope that conspicuously states the following in bold caps: “DEFAULT BY GUARANTOR WITH RESPECT TO LEXINGTON, MA LEASE” and which notice shall include an explicit statement that such notice is a notice delivered pursuant to this Section 8 and Guarantor’s failure to perform the specified obligation will trigger the provisions of this Section 8). If Guarantor fails to execute, acknowledge and deliver such a statement within five (5) business days after receipt of such a notice from Landlord, such failure shall constitute a material default by Guarantor hereunder.