Verification of Costs. Lender will have the right at any time and from time to time to review and verify all costs, expenses, and fees in each Unit Budget and each A&D Lot Development Budget. Based on its review and verification of costs, expenses, and fees in each Unit Budget and each A&D Lot Development Budget, Lender will have the right to (a) adjust any and all such budgeted amounts for purposes of determining Collateral Values of Eligible Collateral and (b) reduce or increase the applicable Collateral Values.
Appears in 2 contracts
Sources: Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes), Borrowing Base Revolving Line of Credit Agreement (William Lyon Homes)