Common use of Deposits of Tax Funds Clause in Contracts

Deposits of Tax Funds. (a) On each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due dates, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty (30) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On Borrower shall deposit with Lender on or before each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due datesthe date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates Due Dates for the Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are dueDue Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within one two (12) Business Day Days after its receipt of such notice. (b) Notwithstanding . For the provisions avoidance of Section 4.6(a) hereof doubt, to the contraryextent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be funds required to make an initial deposit to be deposited into the Tax Account or by Borrower shall be appropriately reduced for the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all remainder of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereinFiscal Year.

Deposits of Tax Funds. (a) On each Monthly Payment Date, Borrower shall deposit with Lender or Servicer on behalf of Lender (or cause to be deposited with Lender or Servicer pursuant to the Cash Management Agreement), on each Monthly Payment Date during the continuance of a Cash Management Sweep Period, an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, provided, however, Borrower shall not be required to reserve amounts with Lender that are paid directly by a Tenant under a Lease that is in full force and effect with no event of default by the Tenant continuing thereunder (as determined on a Lease by Lease basis). Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of . The Tax Funds shall be held in the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all timesAccount (as defined in the Cash Management Agreement), Borrower which shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereinInterest Bearing Account.

Deposits of Tax Funds. (a) On During the continuance of a Trigger Period, Borrower shall, subject to Sections 6.9.2, and 6.3.3 hereof, deposit with Lender on each Monthly Payment Date, Borrower shall deposit with Lender Date an amount equal to one-twelfth (1/121/12th) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their the respective due datesdates the same shall become delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior taking into 90 account the monthly deposits of Tax Funds to the respective due datesbe made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxesthat such Taxes become delinquent; provided provided, that if Borrower receives notice from Lender of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are duebecome delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within three (3) Business Days after its receipt of such notice (provided that, if the Taxes will become delinquent in less than three (3) Business Days, Borrower will deposit the required amounts within one (1) Business Day after its receipt of such noticeDay). (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On each Monthly Payment Date, Date Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one three (13) Business Day Days after its receipt of such notice. . Notwithstanding the foregoing, without waiving any of Borrower’s obligations under the Loan Documents to pay Taxes, so long as Borrower pays all Taxes 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 Tax Funds with Lender at all times other than during a Cash Management Period. If (a) Borrower fails to pay all Taxes 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) Notwithstanding 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 provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer metLoan Documents, Borrower shall immediately commence and shall continue making monthly deposits of Tax Funds in an amount determined by Lender in accordance with this Section 6.2.1 for such purpose pursuant to fund the Tax Account on account of Taxes as provided hereinCash Management Agreement.

Deposits of Tax Funds. (a) On each Monthly Payment DateDuring the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,412,721), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due datesthe date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates Due Dates for the Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are dueDue Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within one two (12) Business Day Days after its receipt of such notice. For the avoidance of doubt, to the extent that any 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 Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contraryforegoing, provided that each Borrower and Operating Lessee are maintaining the applicable Individual Property in accordance with the requirements of the Tax Management Agreement (as determined by the applicable Manager) and the Loan Documents (as reasonably determined by Lender), to the extent Taxes for the applicable Individual Property are reserved for in a Manager-Held Reserve Waiver Conditions Precedent are satisfied for Taxes for such period pursuant to and remain satisfied at all timesin accordance with the Management Agreement (and provided that Lender shall have a security interest in such Manager-Held Reserve), Borrower shall not be required to make an initial then the amount of the monthly deposit to into the Tax Account or the Monthly Tax Deposit shall be reduced on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereina dollar-for-dollar basis by such amount so reserved.

Deposits of Tax Funds. (a) On each Monthly Payment the Closing Date, Borrower shall deposit with Lender Agent the amount of and No/100 Dollars and, pursuant to the Cash Management Agreement, there shall be deposited on each Monthly Payment Date an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) . Notwithstanding the provisions of Section 4.6(a) hereof anything to the contrarycontrary contained herein, provided Borrower’s obligation to make deposits of Insurance Funds required by this Section 6.2.1 shall be suspended during any time Borrower provides evidence, reasonably satisfactory to Lender, that each Borrower is reserving for Taxes 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 Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of related Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereinin accordance with Section 4.1.2 hereof.

Deposits of Tax Funds. During the continuance of a Trigger Period, Borrower shall, subject to Sections 6.11.2 and 6.3.3 hereof deposit with Lender the following: (a) On upon the commencement of such Trigger Period, an amount reasonably determined by Lender such that sufficient amounts shall be on deposit in the Tax Account (taking into account the payments required to be deposited pursuant to clause (b) of this Section 6.3.1) to pay the next scheduled payment of Taxes and (b) on each Monthly Payment DateDate during the continuance of a Trigger Period, Borrower shall deposit with Lender an amount equal to one-twelfth (1/121/12th) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (taking into account the amounts on deposit pursuant to clause (a) of this Section 6.3.1) in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their the respective due datesdates the same shall become delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30taking into account the monthly deposits of Tax Funds required to be made pursuant to clause (b) days prior to the respective due datesabove), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxesthat such Taxes become delinquent; provided provided, that if Borrower receives notice from Lender of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are duebecome delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within three (3) Business Days after its receipt of such notice (provided that, if the Taxes will become delinquent in less than three (3) Business Days, Borrower will deposit the required amounts within one (1) Business Day after its receipt of such noticeDay). (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On each Monthly Payment DateDuring the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $166,775), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due datesthe date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates Due Dates for the Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are dueDue Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within one two (12) Business Day Days after its receipt of such notice. For the avoidance of doubt, to the extent that any 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 Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contraryforegoing, provided that each Borrower and Operating Lessee are maintaining the applicable Individual Property in accordance with the requirements of the Tax Management Agreement (as determined by the applicable Manager) and the Loan Documents (as reasonably determined by Lender), to the extent Taxes for the applicable Individual Property are reserved for in a Manager-Held Reserve Waiver Conditions Precedent are satisfied for Taxes for such period pursuant to and remain satisfied at all timesin accordance with the Management Agreement (and provided that Lender shall have a security interest in such Manager-Held Reserve), Borrower shall not be required to make an initial then the amount of the monthly deposit to into the Tax Account or the Monthly Tax Deposit shall be reduced on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereina dollar-for-dollar basis by such amount so reserved.

Deposits of Tax Funds. Borrowers shall deposit with Lender the amount of Three Hundred Eighteen Thousand Eight Hundred Forty Three and 14/100 Dollars (a$318,843.14) on the Closing Date, as to which the amount of Forty Seven Thousand Five Hundred Fifty Five and 38/100 Dollars ($47,555.38) shall be deemed deposited on behalf of Horizon Xxxxxxxx, the amount of One Hundred Thirty Nine Thousand Two Hundred Seventy Nine and 17/100 Dollars ($139,279.17) shall be deemed deposited on behalf of Horizon Medford, and the amount of One Hundred Thirty Two Thousand Eight and 59/100 Dollars ($132,008.59) shall be deemed deposited on behalf of Horizon Warrenton. On each Monthly Payment Date, each Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in respect of the Individual Property owned by such Borrower, in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, which amounts shall be transferred into an Account at Deposit Bank established to hold such funds (the "TAX ACCOUNT"). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 SECTION 6. 3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” "TAX FUNDS". If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided provided, that if Borrower receives Borrowers receive notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower Borrowers will deposit with or on behalf of Lender such amount within one three (13) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On each Monthly Payment the Closing Date, Borrower shall deposit with Lender the amount of $0 and, there shall be deposited on each Monthly Payment Date an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due datesdates (“Monthly Tax Deposit”). Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one five (15) Business Day Days after its receipt of such notice. (b) . Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all timesforegoing, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account as set forth above with respect to any Individual Property subject to a Brand Management Agreement, provided that, (i) Brand Manager pays Taxes directly to the appropriate taxing authority, (ii) there is no event of default by Brand Manager under the Brand Management Agreement, and (iii) Borrower provides Lender, or causes to be provided to Lender, evidence of payment of such Taxes as provided hereinprior to delinquency. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence making all Monthly Tax Deposits relating to the applicable Individual Property, as required by Lender pursuant to this Section 6.2.1, 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 continue instruct Borrower, in such event, to fund the immediately commence making all additional Monthly Tax Account on account of Taxes as provided hereinDeposits.

Deposits of Tax Funds. (a) On each Monthly Payment the Closing Date, Borrower shall deposit with Lender Agent the amount of 0.00 and No/100 Dollars and, pursuant to the Cash Management Agreement, there shall be deposited on each Monthly Payment Date an amount equal to one-one- twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “"Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ". If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) . Notwithstanding the provisions foregoing, so long as no Event of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied Default has occurred and remain satisfied at all times, is continuing and then Borrower shall not be required to make an initial deposit to the monthly payments of Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereinFunds.

Deposits of Tax Funds. Borrower shall deposit or cause to be deposited with or on behalf of Lender (a) On on the Closing Date, the amount of Fifty Five Thousand Eight Hundred Thirty Two and No/100 Dollars ($55,832.00) and (b) on each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender an amount equal to Three Hundred Fifty-Two Thousand Seven Hundred Sixty-One and 64/100 Dollars (a$352,761.64) On and, on each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due dates, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty (30) days prior to the date that Taxes are due, Borrower will deposit such amount within by the earlier of (a) three (3) Business Days after its receipt of such notice and (b) one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof prior to the contrary, provided date that each of the Tax Reserve Waiver Conditions Precedent Taxes are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereindue.

Deposits of Tax Funds. (a) On each the first Monthly Payment DateDate occurring in October, 2019, Borrower shall deposit with Lender the amount of $673,589.00 into the Tax Reserve Account (as defined below) and, thereafter, there shall be deposited by Borrower (provided no Cash Trap Period is then continuing) on each Monthly Payment Date an amount equal to $110,499.00 (which amount is equal to one-twelfth (1/12) of the Property Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months months) which Property Taxes are not the responsibility of Tenants pursuant to Leases which are not then in default, in order to accumulate sufficient funds to pay all such Property Taxes at least thirty ten (3010) days prior to their respective due datesdelinquency. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds.” and the account The Account in which such amounts the Tax Funds are held by Lender shall hereinafter be referred to as the “Tax Reserve Account.” If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Property Taxes at least thirty (30) days prior to for the respective due datesupcoming tax period, Lender shall notify Borrower of such determination and the monthly deposits for Property Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due delinquency dates for the Property Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that such Property Taxes are duedelinquent, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $55,355.36 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in February 2014 and on each Monthly Payment Date, Date thereafter Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On Pursuant to the Cash Management Agreement, upon the occurrence of an Escrow Reserve Trigger Event and during the continuance of an Escrow Reserve Period, there shall be deposited with Agent on each Monthly Payment Date, Borrower shall deposit with Lender Date an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding . Once any Escrow Reserve Period has ended and no other Escrow Reserve Period then exists, all Tax Funds on deposit shall be promptly returned to Borrower on or before the provisions of Section 4.6(a) hereof to following Monthly Payment Date. The Tax Funds shall be held in an interest-bearing account and invested in Permitted Investments in accordance with the contrary, provided that each terms of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereinCash Management Agreement.

Deposits of Tax Funds. (a) On At all times during a Cash Sweep Period, Borrower shall, pursuant to the Cash Management Agreement, make deposits on each Monthly Payment Date, Borrower shall deposit with Lender Date in an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable with respect to the Property during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the Borrower’s “Tax Fund Reserve Account.” ”. If at any time deposits are required to be made pursuant to this Section 6.2.1 and Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit such amount within one (1) Business Day after its receipt of such notice. . Borrower has deposited with Lender on the date hereof the sum of $7,374,632.00 (bthe “Unassessed Tax Funds”) Notwithstanding to be held in the provisions Tax Fund Reserve Account and to be disbursed in accordance with Section 6.2.2 with respect to those portions of Section 4.6(a) hereof the Property which are currently not assessed for Taxes for the 2004/05 and 2005/06 tax years (the “Unassessed Property”). In the event that New York City fails to correctly calculate and bxxx the Borrower for real estate taxes with respect all or any portion of to the contraryUnassessed Property within six (6) months from the date hereof, provided that each Borrower may replace the Unassessed Tax Funds by delivering to Lender a Qualified Letter of Credit and/or Qualified Guaranty (or any combination thereof) in an aggregate amount equal to the Unassessed Tax Funds or such other amount reasonably agreed to by Lender at which time Lender shall return the Unassessed Tax Funds, together with interest thereon, to Borrower. The Qualified Guaranty shall be accompanied by a “bring down” of the Tax Reserve Waiver Conditions Precedent are satisfied Nonconsolidation Opinion. In no event shall the amount indemnified under the Alteration Indemnity and remain satisfied at all timesthe amount guaranteed under any Qualified Guaranties, Borrower shall not be required to make an initial deposit to in the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If aggregate, at any time any or all exceed $40,000,000.00. Upon payment of such Taxes for the Unassessed Property, the balance of the Unassessed Tax Reserve Waiver Conditions Precedent are no longer metFunds, Borrower together with interest thereon, shall immediately commence and shall continue be returned to fund the Tax Account on account of Taxes as provided hereinBorrower.

Deposits of Tax Funds. (a) On each Monthly Payment DateSubject to paragraph (b) below, Borrower shall deposit with Lender the Paying Agent (i) on the Closing Date, an amount equal to Borrower’s estimate (and as approved by the Administrative Agent) of the Property Taxes which will be payable during the period commencing on the Closing Date and ending on the next succeeding Payment Date with respect to all Properties financed pursuant to this Agreement on the Closing Date and (ii) on each Payment Date, an amount equal to one-twelfth (1/12) of the Property Taxes (the “Monthly Tax Deposit”) that Lender Administrative Agent estimates will be payable during the next ensuing twelve (12) months months, in order to accumulate sufficient funds to pay all such Property Taxes at least thirty (30) days prior to their respective due dates, which amounts shall be transferred into the Tax Subaccount. Amounts deposited from time to time into the Tax Subaccount pursuant to this Section 6.2.1 6.1.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender Administrative Agent reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesProperty Taxes, Lender Administrative Agent shall notify Borrower of such determination and and, commencing with the first Payment Date following Borrower’s receipt of such written notice, the monthly deposits for Property Taxes shall be increased by the amount that Lender Administrative Agent estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Property Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Property Taxes are due, Borrower will deposit with or on behalf of Administrative Agent such amount within one two (12) Business Day Days after its receipt of such notice. (b) Notwithstanding Section 6.1.1(a), in lieu of making the provisions of Section 4.6(a) hereof deposits required thereunder, Borrower may, by written notice to the contraryAdministrative Agent, provided that each of elect to maintain in the Tax Reserve Waiver Conditions Precedent are satisfied Subaccount an amount equal to the amount of Property Taxes payable with respect to the Properties for a period of six months. If such an election is in effect and remain satisfied at all timesthe Administrative Agent reasonably determines that the Tax Funds in the Tax Subaccount constitute less than the amount described in the previous sentence, the Administrative Agent shall notify Borrower of such determination and, commencing with the first Payment Date following Borrower’s receipt of such written notice, Borrower shall deposit into the Tax Subaccount such shortfall. Furthermore, during any period while such an election is in effect, Borrower shall not be required entitled to make an initial deposit receive any release of Tax Funds from the Tax Subaccount. Borrower may revoke the election contemplated by this Section 6.1.1(b) by written notice to the Tax Account or Administrative Agent; provided, that (i) such revocation shall not take effect until the Monthly Tax Deposit first Payment Date that is more than ten (10) Business Days after the date the Administrative Agent receives such notice and (ii) on account of Taxes as provided herein. If at any time any or all of such Payment Date Borrower shall deposit into the Tax Reserve Waiver Conditions Precedent are no longer metSubaccount an amount reasonably determined by the Administrative Agent that, Borrower shall immediately commence and shall continue to fund when combined with prospective deposits into the Tax Account on account Subaccount contemplated by clause (ii) of Section 6.1.1(a) will be sufficient funds to pay all Property Taxes as provided hereinwith respect to the Properties prior to their respective due dates.

Deposits of Tax Funds. (a) On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $73,122.80 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in June 2013 and on each Monthly Payment Date, Date thereafter Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On During the continuance of a Trigger Period, Borrower shall, subject to Sections 6.10.2, and 6.3.3 hereof, deposit with Lender on each Monthly Payment Date, Borrower shall deposit with Lender Date an amount equal to one-twelfth (1/121/12th) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their the respective due datesdates the same shall become delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior taking into account the monthly deposits of Tax Funds to the respective due datesbe made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxesthat such Taxes become delinquent; provided provided, that if Borrower receives notice from Lender of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are duebecome delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within three (3) Business Days after its receipt of such notice (provided that, if the Taxes will become delinquent in less than three (3) Business Days, Borrower will deposit the required amounts within one (1) Business Day after its receipt of such noticeDay). (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On each Monthly Payment DateUpon the occurrence of a Trigger Period, Borrower shall deposit with Lender (a) an amount equal to one-twelfth (1/12) of the Real Estate Taxes that Lender estimates will be payable for all Real Estate Taxes on their next respective due dates multiplied by the amount of Monthly Payment Dates that have occurred since the last applicable payment of all such Real Estate Taxes and (b) thereafter, during the “continuance of the applicable Trigger Period, on each Monthly Tax Deposit”) Payment Date, an amount equal to one-twelfth of the Real Estate Taxes that Lender estimates will be payable during the next ensuing twelve (12) months period in order to accumulate sufficient funds to pay all such Real Estate Taxes at least thirty (30) days prior to their respective due dates, which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesReal Estate Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Real Estate Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Real Estate Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Real Estate Taxes are due, Borrower will deposit with or on behalf of Lender such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On each Monthly Payment DateDuring the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months months, in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due datesthe date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates Due Dates for the Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are dueDue Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within one two (12) Business Day Days after its receipt of such notice. For the avoidance of doubt, to the extent that any 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 Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contraryforegoing, provided that each Borrower and Operating Lessee are maintaining the applicable Individual Property in accordance with the requirements of the Tax Management Agreement (as determined by the applicable Manager) and the Loan Documents (as reasonably determined by Lender), to the extent Taxes for the applicable Individual Property are reserved for in a Manager-Held Reserve Waiver Conditions Precedent are satisfied for Taxes for such period pursuant to and remain satisfied at all timesin accordance with the Management Agreement (and provided that Lender shall have a security interest in such Manager-Held Reserve), Borrower shall not be required to make an initial then the amount of the monthly deposit to into the Tax Account or the Monthly Tax Deposit shall be reduced on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided hereina dollar-for-dollar basis by such amount so reserved.

Deposits of Tax Funds. (a) On During the continuance of a Trigger Period, Borrower shall, subject to Sections 6.3.3 hereof, deposit with Lender on each Monthly Payment Date, Borrower shall deposit with Lender Date an amount equal to one-twelfth (1/121/12th) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their the respective due datesdates the same shall become delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior taking into account the monthly deposits of Tax Funds to the respective due datesbe made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxesthat such Taxes become delinquent; provided that provided, that, if Borrower receives notice from Lender of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are duebecome delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within three (3) Business Days after its receipt of such notice (provided, that, if the Taxes will become delinquent in less than three (3) Business Days, Borrower will deposit the required amounts within one (1) Business Day after its receipt of such noticeDay). (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. (a) On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $68,062.00 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in May 2014 and on each Monthly Payment Date, Date thereafter Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

Deposits of Tax Funds. At any such time that Manager either (ax) On does not reserve for or otherwise set aside and pay Taxes or (y) is not Current Manager or a Pre-Approved Manager, Lender shall direct Servicer to transfer from the Cash Management Deposit Account (or if there are insufficient funds in the Cash Management Deposit Account, Borrower shall deposit into the Cash Management Deposit Account) on each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender estimates will be payable during the next ensuing twelve (12) months months, in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates, into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” ”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes at least thirty (30) days prior to the respective due datesTaxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to the respective due dates for the Taxes; provided provided, that if Borrower receives notice of any such deficiency after the date that is thirty ten (3010) days prior to the date that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within one three (13) Business Day Days after its receipt of such notice. (b) Notwithstanding the provisions of Section 4.6(a) hereof to the contrary, provided that each of the Tax Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make an initial deposit to the Tax Account or the Monthly Tax Deposit on account of Taxes as provided herein. If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.