Common use of Right to Obtain Appraisals Clause in Contracts

Right to Obtain Appraisals. Agent shall have the right to obtain, from time to time, at Borrower's cost and expense, updated Appraisals of the Projects, provided that so long as no Event of Default shall have occurred and be continuing, Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal of each of the Projects during any twenty-four (24) month period, except for any such Appraisal obtained by Agent in connection with the extension contemplated by Section 4.6 hereof. The reasonable costs and expenses incurred by Agent in obtaining such Appraisals shall be paid by Borrower forthwith upon billing or request by Agent for reimbursement therefor.

Right to Obtain Appraisals. Agent shall have the right to obtain, from time to time, at Borrower's ’s cost and expense, updated Appraisals of the Projects, provided that so long as no Event of Default shall have occurred and be continuing, Borrower shall only be obligated to pay for the costs and expenses associated with one such Appraisal of each of the Projects during any twenty-four (24) month period, except for any such Appraisal obtained by Agent in connection with the extension contemplated by Section 4.6 hereof. The reasonable costs and expenses incurred by Agent in obtaining such Appraisals shall be paid by Borrower forthwith upon billing or request by Agent for reimbursement therefor.