Common use of Application Generally Clause in Contracts

Application Generally. To the extent required to be paid by Borrower with respect to the Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrower hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrower or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other event) or (y) to reimburse Borrower for such amounts upon presentation of evidence of payment and an Officer’s Certificate in form and substance satisfactory to Lender, subject, however, to Borrower’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrower or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrower of such determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.

Application Generally. To the extent required to be paid by Borrower with respect to the Property, Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account either: (x) to pay Taxes and Other Charges and Charges, Insurance Premiums and rents and other charges under the Ground Leases required to be paid made by Borrower hereunder and thereunder (and so long as the Tax Tax, Insurance and Insurance Ground Lease Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, unless Lender shall have not so applied such balance at the request of Borrower or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventBorrower) or (y) to reimburse Borrower for such amounts upon presentation of evidence of payment and an Officer’s 's Certificate in form and substance reasonably satisfactory to Lender, subject, however, to Borrower’s 's right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax Tax, Insurance and Insurance Ground Lease Escrow Account, Lender may do so according to any xxxxbill, statement or estimate procured xxxcured from the appropriate public office (with respect to Taxes and Other Charges) or ), insurer or agent (with respect to Insurance Premiums)) or ground lessor under any Ground Lease, without inquiry into the accuracy of such xxxxbill, statement or estimate or xx into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b) hereof5.1(b)(ii). If the amount in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account shall exceed the amounts due for Taxes and Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, Lender shall, at its option, return any excess to Borrower or credit such excess against future payments to be made to the Tax Tax, Insurance and Insurance Ground Lease Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower shall have the right to have Lender apply amounts deposited in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesCharges obligation. If at any time Lender determines that the amount in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrower of such determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.9.3.1

Application Generally. To the extent required to be paid by Borrower an Issuer with respect to the a Property, Lender Note Trustee will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges (excluding any Ground Rent) and Insurance Premiums required to be paid by Borrower Issuers or Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrower Issuers shall not be in default hereunder if Lender Note Trustee shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender Note Trustee shall have not so applied such balance at the request of Borrower Issuers or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventOperating Lessees) or (y) to reimburse Borrower Issuers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer’s 's Certificate in form and substance satisfactory to LenderNote Trustee, subject, however, to Borrower’s Issuers' and Operating Lessees' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender Note Trustee may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower Issuers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender Note Trustee shall, at its option, return any excess to Borrower Issuers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower Issuers and Operating Lessees shall have the right to have Lender Note Trustee apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender Note Trustee determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a) and 9.3.1(b) above, Lender Note Trustee shall notify Borrower Issuers of such determination and Borrower Issuers and Operating Lessees shall increase its their monthly payments to Lender Note Trustee by the amount that Lender Note Trustee estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.. 144

Application Generally. To the extent required to be paid by a Borrower with respect to the a Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrower Borrowers and Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrower Borrowers shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrower Borrowers or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventOperating Lessees) or (y) to reimburse Borrower Borrowers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer’s Certificate in form and substance satisfactory to Lender, subject, however, to Borrower’s Borrowers’ and Operating Lessees’ right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any xxxxbxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxxbxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrower Borrowers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower Borrowers and Operating Lessees shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrower Borrowers of such determination and Borrower Borrowers shall increase its their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.

Application Generally. To the extent required to be paid by a Borrower with respect to the a Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrower Borrowers or Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrower Borrowers shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrower Borrowers or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventOperating Lessees) or (y) to reimburse Borrower Borrowers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer’s 's Certificate in form and substance satisfactory to Lender, subject, however, to Borrower’s Borrowers' and Operating Lessees' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrower Borrowers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower Borrowers and Operating Lessees shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a9.3.1 (a) and 9.3.1(b) above, Lender shall notify Borrower Borrowers of such determination and Borrower Borrowers and Operating Lessees shall increase its their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.

Application Generally. To the extent required to be paid by Borrower with respect to the PropertyObligor, Lender Agent will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrower Obligor hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Taxes and Insurance Premiums, Borrower Obligor shall not be in default hereunder if Lender Agent shall have not so applied such balance to the payment of such Taxes, Other Charges Taxes and Insurance Premiums, unless Lender Agent shall have not so applied such balance at the request of Borrower or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventObligor) or (y) to reimburse Borrower Obligor for such amounts upon presentation of evidence of payment and an Officer’s Certificate in form and substance satisfactory to LenderAgent, subject, however, to BorrowerObligor’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender Agent may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other ChargesTaxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b) hereofthereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender Agent shall, at its option, return any excess to Borrower Obligor or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrower Obligor shall have the right to have Lender Agent apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesTaxes. If at any time Lender Agent determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth above in Sections 9.3.1(a) and 9.3.1(b) abovethis Section 7.13, Lender Agent shall notify Borrower Obligor of such determination and Borrower the amounts transferred pursuant to Section 7.13(a)(i) and (ii) (or, if such amounts available to be transferred are not sufficient for such purposes, the amounts required to be funded by Obligor) shall increase its monthly payments to Lender by the amount that Lender Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Insurance Policies, as the case may be.

Application Generally. To the extent required to be paid by Borrower with respect to the Property, Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account either: (x) to pay Taxes and Other Charges and Charges, Insurance Premiums and rents payable pursuant to the Ground Leases required to be paid made by Borrower Obligor hereunder (and so long as the Tax Tax, Insurance and Insurance Ground Rents Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsground rents, Borrower Obligors shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsground rents, unless 138 140 Lender shall have not so applied such balance at the request of Borrower or shall be legally constrained from doing so by reason of any insolvency related Borrower or any other eventObligor) or (y) to pay such amounts or to reimburse Borrower Obligors for such amounts upon presentation of evidence of payment and an Officer’s 's Certificate in form and substance reasonably satisfactory to Lender, subject, however, to Borrower’s Obligors' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax Tax, Insurance and Insurance Ground Rents Escrow Account, Lender may do so according to any xxxxbill, statement xxatement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums) or ground lessor (with respect to ground rents), without inquiry into the accuracy of such xxxxbill, statement xxatement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrower Obligor of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1.2(b5.1(b)(ii) hereof. If the amount Obligors reasonably determine that amounts contained in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account shall exceed the amounts required to be contained therein, due to a decrease in tax or insurance rates in the applicable jurisdiction or for Taxes the applicable Property or as caused by another similar event, Obligors may submit once during each fiscal year to Lender evidence of the existence of such excess, and Other Charges Lender shall have a period of one month to consider such evidence. Provided no Event of Default is then continuing, there is no pendency of a Low NOI Period and Insurance PremiumsLender reasonably determines that such excess exists, Lender shall, at its option, return any excess to Borrower or credit shall remit such excess against future payments amounts to be made Obligors on the first Payment Date (not to the Tax and Insurance Escrow Accountexceed one Payment Date per fiscal year) following such one-month period. Provided no Event of Default has occurred and is continuing, Borrower Obligors shall have the right to have Lender apply amounts deposited in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesCharges obligation. If at any time Lender reasonably determines that the amount in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1(a9.4(a), 9.4(b) and 9.3.1(b9.4(c) above, Lender shall notify Borrower Obligors of such determination and Borrower the amounts paid for these items shall increase its monthly payments to Lender be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes Charges and/or expiration of the PoliciesPolicies and/or delinquency of the ground rent payments, as the case may be.