Common use of Status Certificate Clause in Contracts

Status Certificate. (1) Within ten (10) business days after written request therefor by the Landlord or the Tenants, the Landlord or the Tenants, as the case may be, hereby covenant and agree to deliver in the form supplied by the other party and to such person, or such persons as it may designate, a certificate stating (if such be the case) that: (i) this Lease is unmodified and in full force and effect (or if there have been any modifications, that this Lease is in full force and effect as modified and identify the modification agreements, if any); (ii) the date of the commencement of the Term; (iii) the date to which the rent has been paid under this Lease; and, (iv) whether or not there is any existing default by the Tenants in the payment of any rent or other sum of money under this Lease, and whether or not there is any other existing default by either party under this Lease with respect to which a notice of default has been served, and if there is any such default, specifying the nature and extent thereof. Each of the parties hereto shall pay their own costs for preparation and execution of any such certificate.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement