Common use of Acts of Terrorism Exclusion Clause in Contracts

Acts of Terrorism Exclusion. With respect to each Mortgage Loan over $20 million, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage Loan, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to Seller’s knowledge, do not, as of the Cut-off Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreement; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then; provided that terrorism insurance is commercially available, the borrower under each Mortgage Loan is required to carry terrorism insurance, but in such event the borrower shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan, and if the cost of terrorism insurance exceeds such amount, the borrower is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan with a maximum principal balance over $20 millionmillion (or, with respect to any Foreign Purchased Asset, its then-current equivalent based on the Spot Rate with respect to the Applicable Currency of such Foreign Purchased Asset as of the date of determination), the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”) (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage Loan, the related special-form special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to Seller’s knowledgeKnowledge, do not, as of the Cut-off Purchase Date, specifically exclude Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Purchased Asset Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction), or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreement; provided, however, that if TRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction),, or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the borrower Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Loan Purchased Asset Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan, and if the cost of terrorism insurance exceeds such amount, the borrower Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan having an outstanding principal balance of over $20 millionmillion (or, with respect to any Foreign Purchased Asset, its then-current equivalent based on the Spot Rate with respect to the Applicable Currency of such Foreign Purchased Asset as of the date of determination), the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”) (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property is covered by a separate terrorism insurance policy. With respect to each other Mortgage Loan, the related special-form special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the such Mortgage Loan, Loan and, to the applicable Seller’s knowledgeKnowledge, do not, as of the Cut-off related Purchase Date, specifically exclude Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Purchased Asset Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreementthereto; provided, however, that if TRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction) or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the borrower Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Loan Purchased Asset Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan), and if the cost of terrorism insurance exceeds such amount, the borrower Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan over $20 million, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage Loan, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to Seller’s knowledge, do not, as of the Cut-off Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreement; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower under each Mortgage Loan is required to carry terrorism insurance, but in such event the borrower shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan, and if the cost of terrorism insurance exceeds such amount, the borrower is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan Purchased Asset over $20 million, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage LoanPurchased Asset, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage LoanPurchased Asset, and, to Seller’s knowledge, do not, as of the Cut-off Purchase Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage LoanPurchased Asset, the related Loan Purchased Asset Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreement; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Mortgagor under each Mortgage Loan Purchased Asset is required to carry terrorism insurance, but in such event the borrower Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Loan Purchased Asset Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage LoanPurchased Asset, and if the cost of terrorism insurance exceeds such amount, the borrower Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Mezzanine Loan having an outstanding principal balance of over $20 millionmillion (or, with respect to any Foreign Purchased Asset, its then-current equivalent based on the Spot Rate with respect to the Applicable Currency of such Foreign Purchased Asset as of the date of determination), the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”) (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property (indirectly securing the Mezzanine Loan and securing the related Mortgage Loan) is covered by a separate terrorism insurance policy. With respect to each other Mortgage Mezzanine Loan, the related special-form special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, such Mezzanine Loan and, to Seller’s knowledge, do not, as of the Cut-off DatePurchase Date for the related Mortgage Loan, specifically exclude Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property (indirectly securing the Mezzanine Loan and securing the related Mortgage Loan) is covered by a separate terrorism insurance policy. With respect to each Mortgage Mezzanine Loan, the related Mezzanine Loan Documents do not expressly waive or prohibit the mortgagee lender from requiring coverage for Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction), or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreementthereto; provided, however, that if TRIA (or, with respect to a Foreign Purchased Asset, the nearest equivalent term under the equivalent Requirements of Law, if applicable, under the relevant non-U.S. jurisdiction) or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Mezzanine Borrower under each Mortgage Mezzanine Loan is required to carry terrorism insurance, but in such event the borrower Mezzanine Borrower shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Mezzanine Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan), and if the cost of terrorism insurance exceeds such amount, the borrower Mezzanine Borrower is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount. Notwithstanding anything to the contrary contained above, the insurance coverages required above may be maintained by the related Mortgagor under the related Mortgage Loan Documents and/or by the Mezzanine Borrower under the Mezzanine Loan Documents.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan with a maximum principal balance over $20 million, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 2007, and the Terrorism Risk Insurance Program Reauthorization Act of 2015 (collectively referred to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage Loan, the related special-special form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to Seller’s knowledgeKnowledge, do not, as of the Cut-off Purchase Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Purchased Asset Documents do not expressly waive or prohibit the mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreementthereto; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Borrower under each Mortgage Loan is required to carry terrorism insurance, but in such event the borrower Borrower shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Loan Purchased Asset Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan), and if the cost of terrorism insurance exceeds such amount, the borrower Borrower is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Loan Purchased Asset with a principal balance over $20 million, the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 and the Terrorism Risk Insurance Program Reauthorization Act of 2015 (collectively referred to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other Mortgage LoanPurchased Asset, the related special-form special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage LoanPurchased Asset, and, to Seller’s knowledge, do not, as of the Cut-off Purchase Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage LoanPurchased Asset, the related Loan Purchased Asset Documents do not expressly waive or prohibit the mortgagee mezzanine lender from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreementthereto; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower underlying Mortgagor under each Mortgage Loan Purchased Asset is required to carry terrorism insurance, but in such event the borrower underlying Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Loan Purchased Asset Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan), and if the cost of terrorism insurance exceeds such amount, the borrower underlying Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.

Acts of Terrorism Exclusion. With respect to each Mortgage Mezzanine Loan having an maximum principal balance of over $20 millionmillion (or, with respect to any Foreign Purchased Asset, its then-current equivalent based on the Spot Rate with respect to the Applicable Currency of such Foreign Purchased Asset as of the date of determination), the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in TRIA (or, with respect to a Foreign Purchased Asset, the Terrorism Risk Insurance Act equivalent term under the equivalent Requirement of 2002, as amended by Law under the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively referred to as “TRIA”relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property (indirectly securing the Mezzanine Loan and securing the related Mortgage Loan) is covered by a separate terrorism insurance policy. With respect to each other Mortgage Mezzanine Loan, the related special-form special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, such Mezzanine Loan and, to Seller’s knowledge, do not, as of the Cut-off DatePurchase Date for the related Mortgage Loan, specifically exclude Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction), from coverage, or if such coverage is excluded, it the related Mortgaged Property (indirectly securing the Mezzanine Loan and securing the related Mortgage Loan) is covered by a separate terrorism insurance policy. With respect to each Mortgage Mezzanine Loan, the related Mezzanine Loan Documents do not expressly waive or prohibit the mortgagee lender from requiring coverage for Acts of Terrorism, as defined in TRIATRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction), or damages related thereto except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated in Schedule 1(a) to the applicable Loan Obligations Purchase Agreement; provided, however, that if TRIA (or, with respect to a Foreign Purchased Asset, the equivalent term under the equivalent Requirement of Law under the relevant non-U.S. jurisdiction),, or a similar or subsequent statute is not in effect, then; , provided that terrorism insurance is commercially available, the borrower Mezzanine Borrower under each Mortgage Mezzanine Loan is required to carry terrorism insurance, but in such event the borrower Mezzanine Borrower shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Mezzanine Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage such Mezzanine Loan, and if the cost of terrorism Ex. X-34 ACTIVE 237973428v.3 insurance exceeds such amount, the borrower Mezzanine Borrower is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount. Notwithstanding anything to the contrary contained above, the insurance coverages required above may be maintained by the related Mortgagor under the related Mortgage Loan Documents and/or by the Mezzanine Borrower under the Mezzanine Loan Documents.