Common use of Cash Management; Reserves Clause in Contracts

Cash Management; Reserves. If Mortgage Lender waives any reserves or escrow accounts required in accordance with the terms of the Mortgage Loan Agreement, or waives any of the other provisions in Article 8 of the Mortgage Loan Agreement (including any obligation to do any construction work or otherwise) or any of the provisions in Article 9 of the Mortgage Loan Agreement (such terms and provisions in such Articles 8 and 9, collectively, the “Cash Management Provisions”), or if the Mortgage Loan is refinanced or paid off in full (without a prepayment of the Loan) and any of the Cash Management Provisions are not required under the new mortgage loan, if any, or the Cash Management Provisions cease to exist or are reduced, waived or modified in any respect, then Borrower shall, to the extent any portion of the Debt hereunder remains outstanding, if requested by Lender, cause any amounts that would have been deposited into any reserves or escrow accounts in accordance with the Cash Management Provisions to be paid to and deposited in an account controlled by Lender as though the applicable Cash Management Provisions were incorporated herein, mutatis mutandis, and all such other Cash Management Provisions shall be incorporated herein, mutatis mutandis (the “Substitute Cash Management Provisions”). In addition, if requested by Lender, Borrower shall execute any documents to evidence the implementation of the Substitute Cash Management Provisions with Lender so long as the Substitute Cash Management Provisions are substantially identical to the Cash Management Provisions. Borrower shall pledge the accounts established pursuant to the Substitute Cash Management Provisions to Lender as additional collateral for the Loan such that Lender has the same legal and economic rights and remedies as Mortgage Lender under the Cash Management Provisions, including, without limitation, the Cash Management Agreement and Section 9.3 of the Mortgage Loan Agreement; provided that in all events the disbursement and application of funds held in such accounts and reserves shall be substantially identical to that provided in the Cash Management Provisions. In addition, Borrower shall cause Mortgage Borrower to comply in all respects with all of the Cash Management Provisions as required under the Mortgage Loan Agreement.

Cash Management; Reserves. If Mortgage Lender and Mezzanine A Lender each waives any reserves or escrow accounts required in accordance with the terms of the Mortgage Loan Agreement or the Mezzanine A Loan Agreement, as applicable, or waives any of the other provisions in Article 8 of the Mortgage Loan Agreement (including any obligation to do any construction work or otherwise) or any of the provisions in Article 9 of the Mortgage Loan Agreement or the Mezzanine A Loan Agreement, as applicable (such terms and provisions in such Articles 8 and 9, collectively, the “Cash Management Provisions”), or if the Mortgage Loan is refinanced or paid off in full (without a prepayment of the Loan) and any of the Cash Management Provisions are not required under the new mortgage loan, if any, or the Cash Management Provisions cease to exist or are reduced, waived or modified in any respect, then Borrower shall, to the extent any portion of the Debt hereunder remains outstanding, if requested by Lender, cause any amounts that would have been deposited into any reserves or escrow accounts in accordance with the Cash Management Provisions to be paid to and deposited in an account controlled by Lender as though the applicable Cash Management Provisions were incorporated herein, mutatis mutandis, and all such other Cash Management Provisions shall be incorporated herein, mutatis mutandis (the “Substitute Cash Management Provisions”). In addition, if requested by Lender, Borrower shall execute any documents to evidence the implementation of the Substitute Cash Management Provisions with Lender so long as the Substitute Cash Management Provisions are substantially identical to the Cash Management Provisions. Borrower shall pledge the accounts established pursuant to the Substitute Cash Management Provisions to Lender as additional collateral for the Loan such that Lender has the same legal and economic rights and remedies as Mortgage Lender under the Cash Management Provisions, including, without limitation, the Cash Management Agreement and Section 9.3 of the Mortgage Loan Agreement; provided that in all events the disbursement and application of funds held in such accounts and reserves shall be substantially identical to that provided in the Cash Management Provisions. In addition, Borrower shall cause Mezzanine A Borrower to cause Mortgage Borrower to comply in all respects with all of the Cash Management Provisions as required under the Mortgage Loan Agreement.