Common use of Application Generally Clause in Contracts

Application Generally. To the extent required to be paid by an Issuer with respect to a Property, 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 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, Issuers shall not be in default hereunder if Note Trustee shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Note Trustee shall have not so applied such balance at the request of Issuers or Operating Lessees) or (y) to reimburse Issuers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance satisfactory to Note Trustee, subject, however, to 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, 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 Issuers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(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, Note Trustee shall, at its option, return any excess to 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, Issuers and Operating Lessees shall have the right to have 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 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, Note Trustee shall notify Issuers of such determination and Issuers and Operating Lessees shall increase their monthly payments to Note Trustee by the amount that 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 an Issuer a Borrower with respect to a Property, Note Trustee Lender 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 Issuers or 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, Issuers Borrowers shall not be in default hereunder if Note Trustee Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Note Trustee Lender shall have not so applied such balance at the request of Issuers Borrowers or Operating Lessees) or (y) to reimburse Issuers 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 Note TrusteeLender, subject, however, to Issuers' 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, Note Trustee 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 Issuers Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(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, Note Trustee Lender shall, at its option, return any excess to Issuers 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, Issuers Borrowers and Operating Lessees shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Lender shall notify Issuers Borrowers of such determination and Issuers and Operating Lessees Borrowers shall increase their monthly payments to Note Trustee Lender by the amount that Note Trustee 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. 144.

Application Generally. To the extent required to be paid by an Issuer with respect to a Property, Note Trustee Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account either: (x) to pay Taxes and Other Charges (excluding any Ground Rent) and Charges, Insurance Premiums and rents and other charges under the Ground Leases required to be paid made by Issuers or Operating Lessees 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, Issuers Borrower shall not be in default hereunder if Note Trustee 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 Note Trustee Lender shall have not so applied such balance at the request of Issuers or Operating LesseesBorrower) or (y) to reimburse Issuers or Operating Lessees Borrower for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance reasonably satisfactory to Note TrusteeLender, subject, however, to Issuers' and Operating Lessees' Borrower'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, Note Trustee 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 Issuers or Operating Lessees Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof). 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, Note Trustee Lender shall, at its option, return any excess to Issuers and Operating Lessees 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, Issuers and Operating Lessees Borrower shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Lender shall notify Issuers Borrower of such determination and Issuers and Operating Lessees Borrower shall increase their its monthly payments to Note Trustee Lender by the amount that Note Trustee 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 Changes, the expiration of the PoliciesPolicies or the date on which the rents and other changes are due and payable under the Ground Leases, as the case may be. 144.

Application Generally. To the extent required to be paid by an Issuer a Borrower with respect to a Property, Note Trustee Lender 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 Issuers 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, Issuers Borrowers shall not be in default hereunder if Note Trustee Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Note Trustee Lender shall have not so applied such balance at the request of Issuers Borrowers or Operating Lessees) or (y) to reimburse Issuers Borrowers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance satisfactory to Note TrusteeLender, subject, however, to IssuersBorrowers' 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, Note Trustee 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 Issuers Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(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, Note Trustee Lender shall, at its option, return any excess to Issuers 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, Issuers Borrowers and Operating Lessees shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Lender shall notify Issuers Borrowers of such determination and Issuers Borrowers and Operating Lessees shall increase their monthly payments to Note Trustee Lender by the amount that Note Trustee 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. 144.

Application Generally. To the extent required to be paid by an Issuer with respect to a Property, Note Trustee Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account either: (x) to pay Taxes and Other Charges (excluding any Ground Rent) and Charges, Insurance Premiums and rents payable pursuant to the Ground Leases required to be paid made by Issuers or Operating Lessees 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, Issuers Obligors shall not be in default hereunder if Note Trustee Lender shall have not so applied such balance to the payment of such Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsground rents, unless Note Trustee 138 140 Lender shall have not so applied such balance at the request of Issuers or Operating LesseesObligor) or (y) to pay such amounts or to reimburse Issuers or Operating Lessees Obligors for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance reasonably satisfactory to Note TrusteeLender, subject, however, to Issuers' and Operating LesseesObligors' 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, Note Trustee 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 Issuers or Operating Lessees Obligor of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(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 Premiums, Note Trustee shall, at its option, return any excess to Issuers and Operating Lessees or credit Lender reasonably determines that such excess against future payments exists, Lender shall remit such excess 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, Issuers and Operating Lessees Obligors shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Lender shall notify Issuers Obligors of such determination and Issuers and Operating Lessees the amounts paid for these items shall increase their monthly payments to Note Trustee be increased by the amount that Note Trustee 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. 144.

Application Generally. To the extent required to be paid by an Issuer with respect to a PropertyObligor, Note Trustee Agent 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 Issuers or Operating Lessees 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, Issuers Obligor shall not be in default hereunder if Note Trustee Agent shall have not so applied such balance to the payment of such Taxes, Other Charges Taxes and Insurance Premiums, unless Note Trustee Agent shall have not so applied such balance at the request of Issuers or Operating LesseesObligor) or (y) to reimburse Issuers or Operating Lessees Obligor for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance satisfactory to Note TrusteeAgent, subject, however, to Issuers' and Operating Lessees' Obligor’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, Note Trustee 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 Issuers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereofthereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Note Trustee Agent shall, at its option, return any excess to Issuers and Operating Lessees 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, Issuers and Operating Lessees Obligor shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Agent shall notify Issuers Obligor of such determination and Issuers the amounts transferred pursuant to Section 7.13(a)(i) and Operating Lessees (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 their monthly payments to Note Trustee by the amount that Note Trustee 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. 144.

Application Generally. To the extent required to be paid by an Issuer Borrower with respect to a the Property, Note Trustee Lender 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 Issuers or Operating Lessees 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, Issuers Borrower shall not be in default hereunder if Note Trustee Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Note Trustee Lender shall have not so applied such balance at the request of Issuers Borrower or Operating Lesseesshall be legally constrained from doing so by reason of any insolvency related Borrower or any other event) or (y) to reimburse Issuers or Operating Lessees Borrower for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance satisfactory to Note TrusteeLender, subject, however, to Issuers' and Operating Lessees' 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, Note Trustee 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 Issuers or Operating Lessees Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii5.1.2(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, Note Trustee Lender shall, at its option, return any excess to Issuers and Operating Lessees 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, Issuers and Operating Lessees Borrower shall have the right to have Note Trustee 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 Note Trustee 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, Note Trustee Lender shall notify Issuers Borrower of such determination and Issuers and Operating Lessees Borrower shall increase their its monthly payments to Note Trustee Lender by the amount that Note Trustee 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. 144.