Common use of Keeping of Records Clause in Contracts

Keeping of Records. Borrower shall set up and maintain accurate and complete books, accounts and records pertaining to each Property in a manner reasonably acceptable to Agent. Borrower will permit representatives of Agent to have free access to and to inspect and copy all books, records and contracts of Borrower. Any such inspection by Agent and/or its Consultants shall be for the sole benefit and protection of Agent and the Lenders, and Agent shall have no obligation to disclose the results thereof to Borrower or to any third party.

Appears in 2 contracts

Sources: Loan Agreement (KBS Real Estate Investment Trust II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

Keeping of Records. Borrower Borrowers shall set up and maintain accurate and complete books, accounts and records pertaining to each Property in a manner reasonably acceptable to Agent. Borrower Borrowers will permit representatives of Agent to have free access to and to inspect and copy all books, records and contracts of BorrowerBorrowers. Any such inspection by Agent and/or its Consultants shall be for the sole benefit and protection of Agent and the Lenders, and Agent shall have no obligation to disclose the results thereof to Borrower Borrowers or to any third party.

Appears in 2 contracts

Sources: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Keeping of Records. Borrower shall set up and maintain accurate and complete books, accounts and records pertaining to each the Property in a manner reasonably acceptable to Agent. Borrower will permit representatives of Agent to have free access to and to inspect and copy all books, records and contracts of Borrower. Any such inspection by Agent and/or its Consultants shall be for the sole benefit and protection of Agent and the Lenders, and Agent shall have no obligation to disclose the results thereof to Borrower or to any third party.

Appears in 1 contract

Sources: Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)