Environmental Report. ​ shall cause to be delivered to ​ an environmental assessment report or reports of one or more qualified environmental engineering or similar inspection firms approved by ​ in form, scope and substance satisfactory to ​, which report or reports shall indicate a condition of the Property in all respects satisfactory to ​ in its sole discretion and upon which report or reports ​ are expressly entitled to rely.

Shipped Report. By no later than 5:00 p.m. (New York time) on each Business Day, ​ shall deliver a Shipped Report to ​ and ​. ​ shall monitor each Mortgage Loan on a daily basis in order that all information set forth on the Shipped Report is accurate as of the time such Shipped Report is delivered. Each such Shipped Report shall be delivered by electronic transmission in accordance with [Section 22].

Geotechnical Report. ​ shall cause to be delivered to ​ a geotechnical report of one or more qualified engineers approved by ​ and the Construction Consultant in form, scope and substance satisfactory to ​ and the Construction Consultant, which report shall indicate a condition of the soil at the Property in all respects satisfactory to ​ in its sole discretion and upon which report or reports ​ are expressly entitled to rely.

Board Report. The Arranger shall have been informed of the conclusions of the report of the causes of the restatement of the Borrower’s earnings commissioned by the Borrower’s Board of Directors, and the Arranger shall be satisfied, in its sole discretion, with the conclusions of such report.

Net Sales and amounts due hereunder shall be expressed in USD and the Parties shall make all payments in USD, except where otherwise specifically stipulated. Whenever for the purpose of calculating royalties conversion from any foreign currency shall be required, such conversion shall be made as follows: when calculating the Net Sales, the amount of such sales in foreign currencies shall be converted into USD using the rate of exchange for such currencies at the time published by the European Central Bank in Frankfurt (e.g., on Reuters Screen ), on the last day of the relevant Quarter in accordance with Ovid’s then current standard practices.

Audit Report. The independent accountant will be instructed to provide to ​ an audit report containing its conclusions regarding the audit, and specifying whether the amounts paid were correct, and, if incorrect, the amount of any underpayment or overpayment. The independent auditor shall provide to Denali a preliminary copy of its audit report, and shall discuss with Denali any issues or discrepancies that Denali identifies, prior to submission to ​.

Environmental Reports; Clean-Up. If any written report, including any report containing results of any Environmental Assessment (an “ XE "Environmental Report" Environmental Report”) shall indicate # the presence of any Hazardous Materials as to which Tenant has a removal or remediation obligation

Environmental Reports. The Agent shall have received, in respect of each Property, a Phase I environmental report and, if recommended by the Phase I environmental report, a Phase II environmental report in respect of such Property, reasonably satisfactory in form and substance to the Agent.

Anticipated Cost Report. The ​ shall submit to the ​ an Anticipated Cost Report in the form set forth in [Exhibit 2.17](w) hereof provided by the General Contractor, which indicates the costs anticipated to complete the construction of the Improvements, after giving effect to costs incurred during the previous month and projected costs.

Environmental. As soon as possible and in any event within 15 days after receipt by ​, a copy of # any notice or claim to the effect that ​ or any of its Subsidiaries is or may be liable to any Person as a result of the release by ​, any of its Subsidiaries, or any other Person of any toxic or hazardous waste or substance into the environment and # any notice alleging any violation of any Environmental Law by ​ or any of its Subsidiaries, which, in either case, could reasonably be expected to have a Material Adverse Effect.