LAST DAY OF SUCH
CALENDAR QUARTER AND CONTAINING SUCH BACK-UP INFORMATION AND DOCUMENTATION
(INCLUDING, WITHOUT LIMITATION, A DESCRIPTION OF EACH PERMITTED LEASE THEN IN
EFFECT WHICH
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IS BEING INCLUDED IN NET OPERATING INCOME ON A PRO FORMA BASIS AND NOT
PREVIOUSLY DESCRIBED IN A PRIOR DSCR CALCULATION CERTIFICATE AND THE ACTUAL AND
ANNUALIZED OPERATING REVENUE DERIVED FROM PERMITTED LEASES) AS ADMINISTRATIVE
AGENT SHALL REASONABLY REQUIRE (A "DSCR CALCULATION CERTIFICATE").
(4)
MONTHLY EXPENSE STATEMENTS.
DURING A CASH MANAGEMENT PERIOD,
NO LATER THAN TWELVE (12) BUSINESS DAYS AFTER THE END OF EACH CALENDAR MONTH, A
CERTIFICATE EXECUTED BY A RESPONSIBLE PERSON OF BORROWER, IN FORM AND SUBSTANCE
REASONABLY SATISFACTORY TO ADMINISTRATIVE AGENT, (I) SETTING FORTH THE ACTUAL
OPERATING EXPENSES AND ACTUAL EXTRAORDINARY EXPENSES PAID BY BORROWER DURING
SUCH MONTH AND (II) COMPARING SUCH ACTUAL OPERATING EXPENSES AND ACTUAL
EXTRAORDINARY EXPENSES WITH THE APPROVED OPERATING EXPENSES AND APPROVED
EXTRAORDINARY EXPENSES FOR SUCH MONTH.
THE CERTIFICATE EXECUTED BY THE
RESPONSIBLE PERSON OF BORROWER SHALL CERTIFY THAT, TO THE BEST OF HIS OR HER
KNOWLEDGE, THE INFORMATION INCLUDED IN SUCH CERTIFICATE IS TRUE AND CORRECT, IN
ALL MATERIAL RESPECTS, AS OF THE DATE OF THE CERTIFICATE.
SECTION 8.2
GUARANTOR'S FINANCIAL STATEMENTS.
Borrower shall furnish or cause to be furnished to Administrative Agent as soon
as available, but in any event within 120 days after the end of each fiscal
year, Guarantor's Consolidated Financial Statements as of the end of and for
such fiscal year, audited by Guarantor's accountants. In addition, Borrower
shall furnish or cause to be furnished to
the Administrative Agent, no later
than 45 days after the end of each calendar quarter, a certificate executed by a
Responsible Person of Guarantor setting forth in reasonable detail a statement
of Guarantor's Net Worth and Liquid Assets.
SECTION 8.3
OTHER INFORMATION.
Borrower shall deliver to Administrative Agent such reasonable additional
information regarding Borrower and the Project within thirty (30) days after
Administrative Agent's request therefor (or other reasonable amount of time,
depending on the nature of the request and the availability of the requested
information).
SECTION 8.4
ANNUAL BUDGET.
During a Cash Management Period, Borrower will provide to Administrative Agent
and the Lenders at least thirty (30) days prior to the commencement of each
calendar year, the proposed annual operating, capital expenditures and leasing
costs budget for the Project for such year presented on a monthly and annual
basis.
In addition, Borrower shall provide to Administrative Agent and the
Lenders within ten (10) days after the commencement of a Cash Management Period
the proposed operating, capital expenditures and leasing costs budget for the
balance of the then current calendar year presented on a monthly basis.
Each
such budget provided during a Cash Management Period or as a result of the
commencement of a Cash Management Period shall be subject to the review and
approval by the Requisite Leasing Approval Lenders (not to be unreasonably
withheld, delayed or conditioned), and shall not take effect until approved by
Administrative Agent.
During a Cash Management Period,