Common use of Inspection, etc Clause in Contracts

Inspection, etc. The Mortgagor shall permit the Mortgagee and any representatives designated by the Mortgagee to visit and inspect the Mortgaged Property or any part thereof, to inspect all property, books of record and account and other records of the Mortgagor relating to the Mortgaged Property and to make copies thereof and extracts therefrom, and to discuss its affairs, finances and accounts with, and to be advised as to the same by, any officer and any employee or independent accountant or the Mortgagor, all at such reasonable times and intervals as from time to time may be requested upon two (2) days' prior notice. The Mortgagee shall not have any duty to make any such inspection and shall not incur any liability or obligation for not making the same carefully or properly, or for not completing the same; nor shall the fact that such inspection may not have been made by the Mortgagee relieve the Mortgagor of any obligations that it may otherwise have under this Mortgage.

Appears in 1 contract

Sources: Leasehold Mortgage, Security Agreement, Assignment of Leases Rents and Profits and Fixture Financing Statement (New Horizons of Yonkers Inc)

Inspection, etc. The Mortgagor shall will permit the Mortgagee and any representatives designated by the Mortgagee to visit and inspect the Mortgaged Property or any part thereof, to inspect the books of account of Mortgagor and all other property, books of record and account and other records of the Mortgagor relating to the Mortgaged Property and to make copies thereof and extracts therefrom, and to discuss its affairs, finances and accounts with, and to be advised as to the same by, any officer the officers, employees, agents and any employee or independent accountant or the accountants of Mortgagor, all at such reasonable times and intervals as from time to time may be requested upon two (2) days' prior noticerequested. The Mortgagee shall not have any duty to make any such inspection and shall not incur any liability or obligation for not making any such inspection or, once having undertaken any such inspection, for not making the same carefully or properly, or for not completing the same; nor shall the fact that such inspection may not have been made by the Mortgagee relieve the Mortgagor of any obligations that it may otherwise have under this Mortgage.

Appears in 1 contract

Sources: Mortgage, Security Agreement and Assignment of Leases and Rents (TNP Strategic Retail Trust, Inc.)