Disbursements from Unfunded Obligations Account. From time to time, Lender (or its Servicer) shall instruct Cash Management Bank to disburse funds on deposit in the Unfunded Obligations Account for the purposes set forth in and in accordance with Section 7.5 of this Agreement.
Disbursements from Unfunded Obligations Account. Borrower shall perform its obligations in respect of the Unfunded Obligations when and as due under the respective Leases or other applicable agreements. Upon the request of Borrower at any time that no Event of Default is continuing (but not more often than once per calendar month), Lender shall, within ten (10) Business Days of written request from Borrower, cause disbursements to Borrower from the Unfunded Obligations Reserve Account to reimburse Borrower for reasonable costs and expenses incurred in the performance of Unfunded Obligations (or in the case of any Unfunded Obligations that is free rent, whether or not Borrower makes a request, the amount of such free rent shall automatically be remitted into the Lockbox Account as same would have become due as rent in accordance with Schedule IX), provided that (a) Borrower shall deliver to Lender invoices evidencing that the costs for which such disbursements are requested are due and payable; (b) Borrower shall deliver to Lender an Officer’s Certificate confirming that all such costs have been previously paid by Borrower or will be paid from the proceeds of the requested disbursement, that all conditions precedent to such disbursement required by the Loan Documents have been satisfied and that Borrower has received lien releases or waivers (which may be conditioned on payment of the requested disbursement and may be partial in that they relate solely to the work for which payment is being made) from any applicable contractors and subcontractors with respect to the requested disbursement; and (c) Lender may condition the making of a requested disbursement on reasonable evidence establishing that Borrower has applied any amounts previously received by it in accordance with this Section 7.5 for the expenses to which specific draws made hereunder relate. -105-
