Common use of Confirmation of Status Clause in Contracts

Confirmation of Status. By notice to the other (a “Confirmation Request Notice”), either Lessor or Lessee (the “Requesting Party”) may request that the other provide to the Requesting Party written confirmation of certain matters (an “Estoppel Certificate”) as follows: 17.13.1 Lessee may give a Confirmation Request Notice only when a Primary Lien is being created or assigned, or when ▇▇▇▇▇▇’s entire interest in the Premises is being assigned. Any Confirmation Notice by Lessee must meet the following additional requirements: 17.13.1.1 The Confirmation Request Notice shall be executed and joined in by the prospective Primary Lienholder, assignee of a Primary Lien, or assignee of Lessee’s entire interest in the Premises (the “Confirmation Assignee”). 17.13.1.2 The Confirmation Request Notice shall describe the proposed transaction between Lessee and the Confirmation Assignee. 17.13.1.3 The Confirmation Request Notice must include warranties and representations by the Confirmation Assignee that the matters to be confirmed are true to the best of its knowledge. 17.13.1.4 The Confirmation Request Notice must include warranties and representations by ▇▇▇▇▇▇ that the matters to be confirmed are true and that the information contained in the Confirmation Request Notice is complete and true. 17.13.1.5 If a Primary Lien is being created or assigned, the Confirmation Request Notice must warrant and represent that the proposed Primary Lienholder and its Lien qualify in every way for Primary Lien status under this Agreement. 17.13.2 The Confirmation Request Notice must specify the matters the other party is requested to confirm. The Confirmation Request Notice shall request only that the other party confirm whether or not one or more of the following matters are true, to the best of such other party’s knowledge: 17.13.2.1 That this Agreement is in except as stated in the Confirmation Request Notice. effect and has not been amended 17.13.2.2 If Lessee is the Requesting Party, that an Event of Default by Lessee does not exist (except that Estoppel Certificates by Lessor shall exclude matters of zoning or other regulatory compliance). If Lessor is the Requesting Party, that Lessor has performed its obligations and is in compliance with this Agreement. 17.13.2.3 If a Primary Lien is being created, that upon Primary ▇▇▇▇▇▇▇▇▇▇'s providing to Lessor copies of the recorded instrument creating Primary Lienholder's Primary Lien and a recorded instrument releasing any prior Primary Lien, Lessor will acknowledge Primary Lienholder as the Primary Lienholder under this Agreement. 14056785-V2 Page 35 of 40 Scottsdale No. 2016-014-COS 17.13.2.4 If Lessee is the Requesting Party, that Lessor consents to the proposed transaction between Lessee and the Confirmation Assignee. 17.13.3 The other party shall provide the Estoppel Certificate to the Requesting Party not less than thirty (30) days after a proper Confirmation Request Notice.