Common use of Deposits of Insurance Funds Clause in Contracts

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For the avoidance of doubt, to the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Insurance Funds. If either (a) During the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence continuance of a Trigger Period or an Event and for so long as a Trigger Period shall continueof Default, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx bxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For the avoidance of doubt, to the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year. The foregoing requirements are hereby waived with respect to any insurance maintained under a blanket Policy that satisfies the requirements set forth in Section 5.1.1(c). (b) Notwithstanding the foregoing, provided that Borrower and Operating Lessee are maintaining the applicable Individual Property in accordance with the requirements of the Management Agreement (as determined by the applicable Manager) and the Loan Documents (as reasonably determined by Lender), to the extent Insurance Premiums for the applicable Individual Property are reserved for in a Manager-Held Reserve for Insurance Premiums for such period pursuant to and in accordance with the Management Agreement (and provided that Lender shall have a security interest in such Manager-Held Reserve), then the amount of the monthly deposit into the Insurance Account shall be reduced on a dollar-for-dollar basis by such amount so reserved.

Deposits of Insurance Funds. If either Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, continuance of a Trigger Period or (b) upon an Event of Default and during the occurrence of a Trigger Event and for so long as a Trigger Period continuance thereof, there shall continue, Borrower shall deposit be deposited with or Agent on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any deficiency after the avoidance of doubt, date that is thirty (30) days prior to the extent that an Individual Property expiration date of the Policies, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice. Notwithstanding the foregoing provisions of this Section 6.3.1, if insurance coverages required hereunder are effected under one or Properties has been released from the Lien under the Loan Documents more blanket insurance Policies in accordance with the terms hereofset forth in Section 5.1.1(c), the funds Borrower shall not be required to be deposited into make deposits under this Section 6.3.1, provided that Borrower delivers to Lender certificates of insurance evidencing such blanket insurance Policies, together with evidence reasonably satisfactory to Lender that the Insurance Account by Borrower shall be appropriately reduced premiums for such blanket insurance Policies have been paid, and if such Policies are to expire within thirty (30) days, that the premiums with respect to such blanket Policies for the remainder of the Fiscal Yearnext succeeding period have been paid.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueOn each Monthly Payment Date, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, Lender an amount equal to one-twelfth (1/12) of the Insurance Premiums (the “Monthly Insurance Deposit”) that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage coverages afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. ” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Insurance Account.” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums at least thirty (30) days prior to the expiration of the Policies, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any such deficiency after the avoidance date that is thirty (30) days prior to expiration of doubtthe Policies, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 6.3.1(a) hereof to the extent contrary, provided that an Individual Property or Properties has been released from each of the Lien under the Loan Documents in accordance with the terms hereofInsurance Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, the funds Borrower shall not be required to be deposited into make an initial deposit to the Insurance Account by nor the Monthly Insurance Deposits on account of Insurance Premiums as provided herein. If at any time any or all of the Insurance Reserve Waiver Conditions Precedent are no longer met, Borrower shall be appropriately reduced for immediately begin and shall continue to fund the remainder Insurance Account on account of the Fiscal YearInsurance Premiums as provided herein.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with Agent or Servicer on behalf of LenderAgent (or cause to be deposited with Agent or Servicer pursuant to the Cash Management Agreement), on or before each Monthly Payment DateDate during the continuance of a Cash Sweep Event Period, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably Agent estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. The Insurance Funds shall be held in the Insurance Escrow Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account. If at any time Lender Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender Agent reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance foregoing, provided no Event of doubtDefault is continuing, Agent agrees that upon delivery to Agent by Borrower of evidence satisfactory to Agent that the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds Policies of insurance required to be deposited into maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Property and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Account by Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower’s obligation to make monthly deposits of the Insurance Funds pursuant to this Section 6.3.1 shall be suspended. Upon request of Agent, Borrower shall be appropriately reduced for provide evidence satisfactory to Agent that the remainder of the Fiscal YearInsurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or Agent the amount of and No/100 Dollars and, pursuant to the Cash Management Agreement, there shall be deposited on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding anything to the avoidance contrary contained herein, Borrower’s obligation to make deposits of doubtInsurance Funds required by this Section 6.3.1 shall be suspended during any time Borrower provides evidence, reasonably satisfactory to Lender, that Borrower is reserving for Insurance Premiums pursuant to and in accordance with the Hotel Management Agreement, no Event of Default shall have occurred and be continuing and Lender shall have received evidence of payment of the related Insurance Premiums in accordance with Section 5.1.1(b); provided, however, that the foregoing shall in no way relieve Borrower of its obligations to (a) deposit funds with Agent for Insurance Premiums to the extent that an Individual Property or Properties has been released from the Lien Borrower is not reserving for such Insurance Premiums under the Loan Documents in accordance with the terms hereof, the funds required Hotel Management agreement and (b) to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder maintain all of the Fiscal Yearinsurance coverage required under Section 5.1.1(a).

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-one twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds Policies (the “Monthly Insurance AccountDeposit”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance forgoing, Borrower shall not be required to make the Monthly Insurance Deposit as set forth above provided (i) the liability and casualty policies maintained by Borrower (or Manager or Brand Manager) covering the Property are part of doubta blanket or umbrella policy approved by Lender in its reasonable discretion, (ii) Borrower provides Lender evidence of renewal of such policy pursuant to Section 5.1.1(b) hereof, and (iii) Borrower provides Lender paid receipts for the payment of the Insurance Premiums by no later than forty-five (45) days following the inception or renewal of the Policies. Borrower shall immediately commence making all Monthly Insurance Deposits, as required by Lender pursuant to this Section 6.3.1, within five (5) days of receipt of notice from Lender of Borrower’s failure to comply with items (i), (ii), or (iii) above, and such failure is not cured within such five (5) day period, which such notice shall instruct Borrower, in such event, to immediately commence making all Monthly Insurance Deposits, including, without limitation, an up-front payment as determined by Lender to cause the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance Insurance Funds (together with the terms hereof, the funds required anticipated Monthly Insurance Deposits) to be deposited into sufficient to pay the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearPremiums when due.

Deposits of Insurance Funds. If either At Lender’s election (asuch election to be made by Lxxxxx sending a written election notice to Borrower at least ten (10) days in advance of the liability or casualty Policy maintained by Monthly Payment Date on which such election shall become effective, which such election shall remain in effect until Lender delivers a notice to Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereofterminating such election), or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, on each Monthly Payment Date Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, into an Account controlled by Lender (the “Insurance Account”)an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time pursuant into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. .” If at any time time, Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance foregoing, Lxxxxx agrees that upon delivery to Lender by Borrower of doubt, evidence satisfactory to Lender that the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds Policies of insurance required to be deposited into maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Property and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Account by Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower shall not be appropriately reduced for the remainder required to make monthly payments of the Fiscal YearInsurance Funds pursuant to this Section 6.3. 1. Upon request of Lxxxxx, Borrower shall provide evidence satisfactory to Lender that the Insurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or Lender the amount of $0 and there shall be deposited on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds Policies (the “"Monthly Insurance Account”Deposit"). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “"Insurance Funds”. ." If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance forgoing, Borrower shall not be required to make the Monthly Insurance Deposit as set forth above provided (i) no Event of doubtDefault shall have occurred and be continuing, (ii) the liability and casualty Policies maintained by Borrower covering the Property are part of a blanket or umbrella policy approved by Lender in its reasonable discretion, pursuant to Section 5.1.1(c) hereof, including, without limitation, approval of the schedule of locations and values, (iii) Borrower provides Lender evidence of renewal of such Policy pursuant to Section 5 .1.1 (b) hereof, and (iv) Borrower provides Lender paid receipts for the payment of the Insurance Premiums by no later than ten (10) days prior to the extent that expiration dates of the Policies. Borrower shall immediately commence making all Monthly Insurance Deposits, as required by Lender pursuant to this Section 6.3.1, within five (5) days of receipt of notice from Lender of Borrower's failure to comply with items (i), (ii), (iii) or (iv) above, which such notice shall instruct Borrower to immediately commence making all Monthly Insurance Deposits, including, without limitation, an Individual Property or Properties has been released from up-front payment as determined by Lender to cause the Lien under the Loan Documents in accordance Insurance Funds (together with the terms hereof, the funds required anticipated Monthly Insurance Deposits) to be deposited into sufficient to pay the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearPremiums when due. 6.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueOn each Monthly Payment Date, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, Lender an amount equal to one-twelfth (1/12) of the Insurance Premiums (the “Monthly Insurance Deposit”) that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage coverages afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. ” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Insurance Account.” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums at least thirty (30) days prior to the expiration of the Policies, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any such deficiency after the avoidance date that is thirty (30) days prior to expiration of doubtthe Policies, Borrower will deposit such amount within two (2) Business Days after its receipt of such notice. (b) Notwithstanding anything herein to the extent that an Individual contrary, Borrower’s obligation to make Monthly Insurance Deposits will be suspended during any time when the insurance coverages required under Section 5.1.1 (a) are maintained with respect to the Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for pursuant to a blanket insurance Policy satisfying the remainder requirements of the Fiscal YearSection 5.1.1(c).

Deposits of Insurance Funds. If either (a) Subject to the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to terms of this Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with or on behalf of Lender6.3.1, on or before the Closing Date, and on each Monthly Payment DateDate thereafter, Borrower and/or Security Guarantor shall deposit an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably Agent estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds Policies (the “Monthly Insurance AccountDeposit”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” If at any time Lender Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance forgoing, neither Borrower nor Security Guarantor shall be required to make the Monthly Insurance Deposit as set forth above provided (i) no Event of doubtDefault shall have occurred and be continuing, (ii) the liability and casualty Policies maintained by Borrower and/or Security Guarantor covering the Property are part of a blanket or umbrella policy approved by Agent in its reasonable discretion, pursuant to Section 5.1.1(c) hereof, including, without limitation, approval of the schedule of locations and values, (iii) Borrower provides Agent evidence of renewal of such Policy pursuant to Section 5.1.1(b) hereof, and (iv) Borrower and/or Security Guarantor provides Agent paid receipts for the payment of the Insurance Premiums by no later than ten (10) days prior to the extent that expiration dates of the Policies. Borrower and/or Security Guarantor shall promptly commence making all Monthly Insurance Deposits, as required by Agent pursuant to this Section 6.3.1, within five (5) days of receipt of notice from Agent of Borrower’s and/or Security Guarantor’s failure to comply with items (i), (ii), (iii) or (iv) above, which such notice shall instruct Borrower and/or Security Guarantor to promptly commence making all Monthly Insurance Deposits, including, without limitation, an Individual Property or Properties has been released from up-front payment as determined by Agent to cause the Lien under the Loan Documents in accordance Insurance Funds (together with the terms hereof, the funds required anticipated Monthly Insurance Deposits) to be deposited into sufficient to pay the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearPremiums when due.

Deposits of Insurance Funds. If either (a) During the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence continuance of a Trigger Period or an Event and for so long as a Trigger Period shall continueof Default, Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx bxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For the avoidance of doubt, to the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year. The foregoing requirements are hereby waived with respect to any insurance maintained under a blanket Policy that satisfies the requirements set forth in Section 5.1.1(c). -126- Loan Agreement (b) Notwithstanding the foregoing, provided that Borrower and Operating Lessee are maintaining the applicable Individual Property in accordance with the requirements of the Management Agreement (as determined by the applicable Manager) and the Loan Documents (as reasonably determined by Lender), to the extent Insurance Premiums for the applicable Individual Property are reserved for in a Manager-Held Reserve for Insurance Premiums for such period pursuant to and in accordance with the Management Agreement (and provided that Lender shall have a security interest in such Manager-Held Reserve), then the amount of the monthly deposit into the Insurance Account shall be reduced on a dollar-for-dollar basis by such amount so reserved.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, On each Monthly Payment Date Borrower shall deposit with or on behalf of Lender, on or before each Monthly Payment Date, Lender an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance foregoing, without waiving any of doubt, to the extent that an Individual Property or Properties has been released from the Lien Borrower’s obligations under the Loan Documents to pay maintain the insurance coverage required pursuant to Section 5.1.1 and pay the related Insurance Premiums, so long as Borrower pays all Insurance Premiums prior to the due date thereof without the addition of interest, fees or penalty, Lender agrees to defer its right under this Agreement and the other Loan Documents to require monthly deposits of Insurance Funds with Lender at all times other than during a Cash Management Period. If (a) Borrower fails to pay all Insurance Premiums due with respect to the Property prior to the due date thereof without the addition of interest, fees or penalty, and to provide Lender with evidence reasonably satisfactory to Lender thereof, or (b) a Cash Management Period occurs, and until a Cash Management Period Termination Event occurs, then in addition to Lender’s other remedies under applicable law and under the Loan Documents, Borrower shall immediately commence making monthly deposits of Insurance Funds in an amount determined by Lender in accordance with this Section 6.3.1 for such purpose pursuant to the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearCash Management Agreement.

Deposits of Insurance Funds. If either Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, continuance of a Trigger Period or (b) upon an Event of Default and during the occurrence of a Trigger Event and for so long as a Trigger Period continuance thereof, there shall continue, Borrower shall deposit be deposited with or Agent on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any deficiency after the avoidance of doubt, date that is thirty (30) days prior to the extent that an Individual Property expiration date of the Policies, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice. Notwithstanding the foregoing provisions of this Section 6.3.1, if insurance coverages required hereunder are effected under one or Properties has been released from the Lien under the Loan Documents more blanket insurance Policies in accordance with the terms hereofset forth in Section 5.1.1(c), the funds Borrower shall not be required to be deposited into make deposits under this Section 6.3.1, provided that Borrower delivers to Lender certificates of insurance evidencing such blanket insurance Policies, together with evidence reasonably satisfactory to Lender that the Insurance Account by Borrower shall be appropriately reduced premiums for such blanket insurance Policies have been paid, and if such Policies are to expire within thirty (30) days, that the premiums with respect to such blanket Policies for the remainder of the Fiscal Yearnext succeeding period have been paid.

Deposits of Insurance Funds. If either Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, continuance of a Trigger Period or (b) upon an Event of Default and during the occurrence of a Trigger Event and for so long as a Trigger Period continuance thereof, there shall continue, Borrower shall deposit be deposited with or Agent on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any deficiency after the avoidance of doubt, date that is thirty (30) days prior to the extent that an Individual Property expiration date of the Policies, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice. Notwithstanding the foregoing provisions of this Section 6.3.1, if insurance coverages required hereunder are effected under one or Properties has been released from the Lien under the Loan Documents more blanket insurance Policies in accordance with the terms hereofset forth in Section 5.11(c), the funds Borrower shall not be required to be deposited into make deposits under this Section 6.3.1, provided that Borrower delivers to Lender certificates of insurance evidencing such blanket insurance Policies, together with evidence reasonably satisfactory to Lender that the Insurance Account by Borrower shall be appropriately reduced premiums for such blanket insurance Policies have been paid, and if such Policies are to expire within thirty (30) days, that the premiums with respect to such blanket Policies for the remainder of the Fiscal Yearnext succeeding period have been paid.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or Lender the amount of $0 into the Insurance Reserve Account (as defined below) and, thereafter, there shall be deposited by Borrower (provided no Cash Trap Period is then continuing) on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth $4,277.75 (which amount is equal to one‑twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, ) in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” The Account in which the Insurance Funds are held shall hereinafter be referred to as the “Insurance Reserve Account.” If at any time time, Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For In addition to the avoidance foregoing, if Borrower fails to renew the policy or policies described in Section 5.1 hereof by the date which is five (5) business days prior to the expiration thereof, Borrower agrees to notify Lender of doubtsuch failure, and to keep Lender reasonably apprised of all developments in connection therewith, and if, following such notice, Lender reasonably believes that Borrower will be unable to bind the policy or policies described in Section 5.1 prior to the expiration thereof, then Lender shall have the right, without notice to Borrower, to take such action as Lender deems necessary to protect its interest in the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereofProperty, including, without limitation, the funds required to obtaining of such insurance coverage as Lender in its reasonable discretion deems appropriate. All premiums incurred by Lender in connection with such action or in obtaining such insurance and keeping it in effect shall be deposited into the Insurance Account paid by Borrower to Lender upon demand and, until paid, shall be appropriately reduced for secured by the remainder of Mortgage and shall bear interest at the Fiscal YearDefault Rate.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon Upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continuePeriod, Borrower shall deposit with or on behalf of Lender, an amount equal to one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies multiplied by the amount of Monthly Payment Dates that have occurred since the last payment of the Insurance Premiums and (b) thereafter, during the continuance of the applicable Trigger Period, on or before each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For the avoidance of doubt, to the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or on behalf Administrative Agent the amount of Lender$174,227.13 and, thereafter, on or before each Monthly Payment Date, Borrower shall deposit on each Monthly Payment Date an amount equal to one-twelfth one‑twelfth of the Insurance Premiums that Lender reasonably Administrative Agent estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” The Account in which the Insurance Funds are held shall hereinafter be referred to as the “Insurance Reserve Account.” If at any time Lender time, Administrative Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender Administrative Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably Administrative Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For In addition to the avoidance foregoing, if Borrower fails to renew the policy or policies required pursuant to Section 5.1 hereof by the date which is seven (7) days prior to the expiration thereof, Borrower agrees to notify Administrative Agent of doubtsuch failure, and to keep Administrative Agent reasonably apprised of all developments in connection therewith, and if, following such notice, Administrative Agent reasonably believes that Borrower will be unable to bind the policy or policies described in Section 5.1 prior to the expiration thereof, then Administrative Agent shall have the right, without notice to Borrower, to take such action as Administrative Agent deems necessary to protect its interest in the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereofProperty, including, without limitation, the funds required to obtaining of such insurance coverage as Administrative Agent in its reasonable discretion deems appropriate. All premiums incurred by Administrative Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be deposited into the Insurance Account paid by Borrower to Administrative Agent upon demand and, until paid, shall be appropriately reduced for secured by the remainder of Mortgage and shall bear interest at the Fiscal YearDefault Rate.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or Lender the amount of $0.00 and, there shall be deposited on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds Policies (the “Monthly Insurance AccountDeposit”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance forgoing, Borrower shall not be required to make the Monthly Insurance Deposit as set forth above provided (i) no Event of doubtDefault shall have occurred and be continuing, (ii) the liability and casualty policies covering the Property are part of a blanket or umbrella policy approved by Lender in its reasonable discretion pursuant to Section 5.1.1(c) hereof, including, without limitation, approval of the schedule of locations and values, (iii) Borrower provides Lender evidence of renewal of such policy pursuant to Article V hereof, and (iv) Borrower provides Lender paid receipts for the payment of the Insurance Premiums by no later than ten (10) days prior to the extent that an Individual Property or Properties has been released from expiration dates of the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Insurance Account by Policies. Borrower shall be appropriately reduced for immediately commence making all Monthly Insurance Deposits, as required by Lender pursuant to this Section 6.3, within five (5) days of receipt of notice from Lender of Borrower’s failure to comply with items (i), (ii), (iii) or (iv) above, which such notice shall instruct Borrower to immediately commence making the remainder of the Fiscal YearMonthly Insurance Deposits.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with Lender or Servicer on behalf of LenderLender (or cause to be deposited with Lender or Servicer pursuant to the Cash Management Agreement), on or before each Monthly Payment DateDate during the continuance of a Cash Management Sweep Period, an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. The Insurance Funds shall be held in the Insurance Reserve Account (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance foregoing, provided no Event of doubtDefault is continuing and further provided the Property is not located in a “special flood hazard area”, Lender agrees that upon delivery to Lender by Borrower of evidence satisfactory to Lender that the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds Policies of insurance required to be deposited into maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Collective Properties and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Account by Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower’s obligation to make monthly deposits of the Insurance Funds pursuant to this Section 6.3.1 shall be suspended. Upon request of Lender, Borrower shall be appropriately reduced for provide evidence satisfactory to Lender that the remainder of the Fiscal YearInsurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available.

Deposits of Insurance Funds. If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall deposit with Lender or Servicer on behalf of LenderLender (or cause to be deposited with Lender or Servicer pursuant to the Cash Management Agreement), on or before each Monthly Payment DateDate during the continuance of a Cash Management Sweep Period, an amount equal to one-twelfth of the Insurance Premiums (excluding premiums under policies described in Section 5.1.1(h)) that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. The Insurance Funds shall be held in the Insurance Reserve Account (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For Notwithstanding the avoidance foregoing, provided no Event of doubtDefault is continuing, Lender agrees that upon delivery to Lender by Borrower of evidence satisfactory to Lender that the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds Policies of insurance required to be deposited into maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Collective Properties and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Account by Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower’s obligation to make monthly deposits of the Insurance Funds pursuant to this Section 6.3.1 shall be suspended. Upon request of Lender, Borrower shall be appropriately reduced for provide evidence satisfactory to Lender that the remainder of the Fiscal YearInsurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available.

Deposits of Insurance Funds. If either (a) On the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the occurrence of a Trigger Event and for so long as a Trigger Period shall continueClosing Date, Borrower shall deposit with or on behalf Administrative Agent the amount of Lender$0.00 and, thereafter, on or before each Monthly Payment Date, Borrower shall deposit on each Monthly Payment Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably Administrative Agent estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. .” The Account in which the Insurance Funds are held shall hereinafter be referred to as the “Insurance Reserve Account.” If at any time Lender time, Administrative Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender Administrative Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably Administrative Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For In addition to the avoidance foregoing, if Xxxxxxxx fails to renew the policy or policies required pursuant to Section 5.1 hereof by the date which is seven (7) days prior to the expiration thereof, Xxxxxxxx agrees to notify Administrative Agent of doubtsuch failure, and to keep Administrative Agent reasonably apprised of all developments in connection therewith, and if, following such notice, Administrative Agent reasonably believes that Borrower will be unable to bind the policy or policies described in Section 5.1 prior to the expiration thereof, then Administrative Agent shall have the right, without notice to Borrower, to take such action as Administrative Agent deems necessary to protect its interest in the extent that an Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereofProperty, including, without limitation, the funds required to obtaining of such insurance coverage as Administrative Agent in its reasonable discretion deems appropriate. All premiums incurred by Administrative Agent in connection with such action or in obtaining such insurance and keeping it in effect shall be deposited into the Insurance Account paid by Borrower to Administrative Agent upon demand and, until paid, shall be appropriately reduced for secured by the remainder of Mortgage and shall bear interest at the Fiscal YearDefault Rate.

Deposits of Insurance Funds. If either Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, continuance of a Trigger Period or (b) upon an Event of Default and during the occurrence of a Trigger Event and for so long as a Trigger Period continuance thereof, there shall continue, Borrower shall deposit be deposited with or Agent on behalf of Lender, on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Insurance Premiums that Lender reasonably estimates based on the most recent xxxx will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof, thereof in order to accumulate sufficient funds to pay all such Insurance Premiums on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. For ; provided that if Borrower receives notice of any deficiency after the avoidance of doubt, date that is thirty (30) days prior to the extent that an Individual Property expiration date of the Policies, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice. Notwithstanding the foregoing provisions of this Section 6.3.1, if insurance coverages required hereunder are effected under one or Properties has been released from the Lien under the Loan Documents more blanket insurance Policies in accordance with the terms hereofset forth in Section 5.1.1(c), the funds Borrower shall not be required to be deposited into make deposits under this Section 6.3.1, provided that Borrower delivers to Lender certificates of insurance evidencing such blanket insurance Policies, together with evidence reasonably satisfactory to Lender that the Insurance Account by Borrower shall be appropriately reduced premiums for such blanket insurance Policies have been paid, and if such Policies are to expire within thirty (30) days, that the premiums with respect to- such blanket Policies for the remainder of the Fiscal Yearnext succeeding period have been paid.