Common use of Cash Management Agreement Upon Repayment of Mortgage Loan Clause in Contracts

Cash Management Agreement Upon Repayment of Mortgage Loan. In the event that the Mortgage Loan has been fully repaid and the Loan has not been fully repaid, then Borrower and Leasehold Pledgor shall, and shall cause Owner and Operating Lessee to, enter into a cash management agreement with Lender, in form and substance reasonably satisfactory to Lender (the “Replacement Cash Management Agreement”), that shall require, among other things, that Borrower, Leasehold Pledgor, Owner and Operating Lessee establish certain accounts and reserves, and pledge such accounts and reserves to Lender as additional Collateral for the Loan, such that Lender has the same legal and economic rights and remedies as Mortgage Lender has under the cash management and reserve provisions of the Mortgage Loan Documents, including without limitation, the Cash Management Agreement and Article 6 of the Mortgage Loan Agreement. Until such time as the Replacement Cash Management Agreement has been fully-executed, Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to continue to comply with the cash management and reserve provisions of the Mortgage Loan Documents notwithstanding the repayment of the Mortgage Loan, provided that such performance by Owner and Operating Lessee shall be in favor of Lender rather than Mortgage Lender.

Cash Management Agreement Upon Repayment of Mortgage Loan. In the event that the Mortgage Loan has been fully repaid and the Loan has not been fully repaid, then Borrower and Leasehold Pledgor shall, and shall cause Owner and Operating Lessee to, enter into a cash management agreement with Lender, in form and substance reasonably satisfactory to Lender (the “Replacement Cash Management Agreement”), that shall require, among other things, that Borrower, Leasehold Pledgor, Borrower and Owner and Operating Lessee establish certain accounts and reserves, and pledge such accounts and reserves to Lender as additional Collateral for the Loan, such that Lender has the same legal and economic rights and remedies as Mortgage Lender has under the cash management and reserve provisions of the Mortgage Loan Documents, including without limitation, the Cash Management Agreement and Article 6 of the Mortgage Loan AgreementAgreement (and which Replacement Cash Management Agreement shall also provide for payment of Debt Service due and payable under the Approved Mezzanine Loan Documents). Until such time as the Replacement Cash Management Agreement has been fully-executed, Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to continue to comply with the cash management and reserve provisions of the Mortgage Loan Documents notwithstanding the repayment of the Mortgage Loan, provided that such performance by Owner and Operating Lessee shall be in favor of Lender rather than Mortgage Lender.

Cash Management Agreement Upon Repayment of Mortgage Loan. In the event that the Mortgage Loan has been fully repaid and the Loan has not been fully repaid, then Borrower and Leasehold Pledgor shall, and shall cause Owner and Operating Lessee to, enter into a cash management agreement with Lender, in form and substance reasonably satisfactory to Lender (the “Replacement Cash Management Agreement”), that shall require, among other things, that Borrower, Leasehold Pledgor, Borrower and Owner and Operating Lessee establish certain accounts and reserves, and pledge such accounts and reserves to Lender as additional Collateral for the Loan, such that Lender has the same legal and economic rights and remedies as Mortgage Lender has under the cash management and reserve provisions of the Mortgage Loan Documents, including without limitation, the Cash Management Agreement and Article 6 of the Mortgage Loan AgreementAgreement (and which Replacement Cash Management Agreement shall also provide for payment of Debt Service due and payable under the Approved Mezzanine Loan Documents). Until such time as the Replacement Cash Management Agreement has been fully-executed, Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to continue to comply with the cash management and reserve provisions of the Mortgage Loan Documents notwithstanding the repayment of the Mortgage Loan, provided that such performance by Owner and Operating Lessee shall be in favor of Lender rather than Mortgage Lender.. Mezzanine Loan Agreement

Cash Management Agreement Upon Repayment of Mortgage Loan. In the event that the Mortgage Loan has been fully repaid and the Loan has not been fully repaid, then Borrower and Leasehold Pledgor shall, and shall cause Owner and Operating Lessee Mortgage Borrower to, enter into a cash management agreement with Lender, in form and substance reasonably satisfactory to Lender (the “Replacement Cash Management Agreement”), that shall require, among other things, that Borrower, Leasehold Pledgor, Owner Borrower and Operating Lessee Mortgage Borrower establish certain accounts and reserves, and pledge such accounts and reserves to Lender as additional Collateral for the Loan, such that Lender has the same legal and economic rights and remedies as Mortgage Lender has under the cash management and reserve provisions of the Mortgage Loan Documents, including without limitation, the Cash Management Agreement and Article 6 3 of the Mortgage Loan Agreement. Until such time as the Replacement Cash Management Agreement has been fully-executed, Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee Mortgage Borrower to continue to comply with the cash management and reserve provisions of the Mortgage Loan Documents notwithstanding the repayment of the Mortgage Loan, provided that such performance by Owner and Operating Lessee Mortgage Borrower shall be in favor of Lender rather than Mortgage Lender.

Cash Management Agreement Upon Repayment of Mortgage Loan. In the event that the Mortgage Loan has been fully repaid and the Loan has not been fully repaid, then Borrower and Leasehold Pledgor shall, and shall cause Owner and Operating Lessee to, enter into a cash management agreement with Lender, in form and substance reasonably satisfactory to Lender (the “Replacement Cash Management Agreement”), that shall require, among other things, that Borrower, Leasehold Pledgor, Owner and Operating Lessee establish certain accounts and reserves, and pledge such accounts and reserves to Lender as additional Collateral collateral for the Loan, such that Lender has the same legal and economic rights and remedies as Mortgage Lender has under the cash management and reserve provisions of the Mortgage Loan Documents, including without limitation, the Cash Management Agreement and Article 6 of the Mortgage Loan Agreement. Until such time as the Replacement Cash Management Agreement has been fully-executed, Borrower and Leasehold Pledgor shall cause Owner and Operating Lessee to continue to comply with the cash management and reserve provisions of the Mortgage Loan Documents notwithstanding the repayment of the Mortgage Loan, provided that such performance by Owner and Operating Lessee shall be in favor of Lender rather than Mortgage Lender.