Common use of Inspection of the Property Clause in Contracts

Inspection of the Property. Subject to the rights of ------------ -------------------------- tenants under the Leases (and subtenants under Subleases), Lender has the right to enter and inspect the Land and Improvements on reasonable prior notice, except in the case of an emergency, when no prior notice is necessary. Lender has the right to engage an independent expert to review and report on Borrower's compliance with Borrower's obligations under this Mortgage to maintain the Property, comply with Law and refrain from waste, impairment or deterioration of the Property and the alteration, demolition or removal of any of the Property except as may be permitted by the provisions of this Mortgage. If the independent expert's report discloses material failure to comply with such obligations or if Lender engages the independent expert after the occurrence of an Event of Default, then the independent expert's review and report will be at Borrower's expense, payable on demand.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing Statement (Cabot Industrial Trust)

Inspection of the Property. Subject to the rights of ------------ -------------------------- tenants under the Leases (and subtenants under Subleases)Leases, Lender Lender, or its agent or independent expert, has the right to enter and inspect the Land and Improvements Property on reasonable prior notice, except in during the case existence of an emergencyEvent of Default, when no prior notice is necessary. Lender has the right to engage an independent expert to review and report on Borrower's ’s compliance with Borrower's ’s obligations under this Mortgage to maintain the Property, comply with Law and refrain from waste, impairment or deterioration of the Property and the alteration, demolition or removal of any of the Property except as may be permitted by the provisions of this Mortgage. If the independent expert's ’s report discloses material failure to comply with such obligations or if Lender engages the independent expert after the occurrence of an Event of Default, then the independent expert's ’s review and report will be at Borrower's ’s expense, payable on demand.

Appears in 1 contract

Sources: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Glimcher Realty Trust)

Inspection of the Property. Subject to the rights of ------------ -------------------------- tenants under the Leases (and subtenants under Subleases)Leases, Lender Lender, or its agent or independent expert, has the right to enter and inspect the Land and Improvements Property on reasonable prior notice, except in during the case existence of an emergencyEvent of Default, when no prior notice is necessary. Lender has the right to engage an independent expert to review and report on Borrower's ’s compliance with Borrower's ’s obligations under this Mortgage Deed of Trust to maintain the Property, comply with Law and refrain from waste, impairment or deterioration of the Property and the alteration, demolition or removal of any of the Property except as may be permitted by the provisions of this MortgageDeed of Trust. If the independent expert's ’s report discloses material failure to comply with such obligations or if Lender engages the independent expert after the occurrence of an Event of Default, then the independent expert's ’s review and report will be at Borrower's ’s expense, payable on demand.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Glimcher Realty Trust)

Inspection of the Property. Subject to the rights of ------------ -------------------------- tenants under the Leases (and subtenants under Subleases)Leases, Lender Lender, or its agent or independent expert, has the right to enter and inspect the Land and Improvements Property on reasonable prior notice, except in during the case existence of an emergencyEvent of Default, when no prior notice is necessary. Lender has the right to engage an independent expert to review and report on Borrower's ’s compliance with Borrower's ’s obligations under this Mortgage Loan Agreement to maintain the Property, comply with Law and refrain from intentional waste, impairment or deterioration of the Property and the material alteration, demolition or removal of any of the Property except as may be permitted by the provisions of this MortgageLoan Agreement. If the independent expert's ’s report discloses material failure to comply with such obligations or if Lender engages the independent expert after the occurrence of an Event of Default, then the independent expert's ’s review and report will be at Borrower's ’s expense, payable on demand.

Appears in 1 contract

Sources: Loan Agreement (Industrial Property Trust Inc.)