Common use of Insurance Premiums Clause in Contracts

Insurance Premiums. If an Event of Default or failure to timely pay insurance premiums occurs, then Borrowers shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance Premiums"). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except as provided in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time in respect of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amounts.

Insurance Premiums. Subject to the provisions of Section 3.3 hereof, Borrower shall pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due Business Days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and payable all insurance premiums practices of owners of property similar to the Property located in or around the region in which the Property is located and other similar charges as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Article 7. Such approval shall continue in connection with effect until the insurance required expiration or termination of such Policies, provided that there is not a downgrade by S&P or Mxxxx’x of any insurer providing such Policies and, as a result thereof, Borrower fails to be carried by Borrowers pursuant to this Agreement satisfy the rating criteria set forth in Section 7.1.2 above. Any renewal or the other Financing Documents (collectivelyreplacement of such Policies, the "Insurance Premiums"). So long as no Event of Default exists hereunderhowever, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except require Lender’s approval as provided above in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.3 unless (i) the amount companies providing such renewal or replacement Policies are licensed or authorized to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P and Mxxxx’x that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. Subject to the provisions of Section 3.3 hereof, Borrower shall pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due Business Days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and payable all insurance premiums practices of owners of property similar to the Property located in or around the region in which the Property is located and other similar charges as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Article 7. Such approval shall continue in connection with effect until the insurance required expiration or termination of such Policies, provided that there is not a downgrade by S&P or Xxxxx’x of any insurer providing such Policies and, as a result thereof, Borrower fails to be carried by Borrowers pursuant to this Agreement satisfy the rating criteria set forth in Section 7.1.2 above. Any renewal or the other Financing Documents (collectivelyreplacement of such Policies, the "Insurance Premiums"). So long as no Event of Default exists hereunderhowever, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except require Lender’s approval as provided above in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.3 unless (i) the amount companies providing such renewal or replacement Policies are licensed or authorized to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P and Xxxxx’x that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. If an Event Subject to the provisions of Default or failure to timely pay insurance premiums occursSection 3.3 hereof, then Borrowers Borrower shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first premiums for such Policies (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance Premiums") as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums If Borrower is required to pay the Insurance Premiums. Except as provided in furnish such evidence and receipts pursuant to the preceding sentencesentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of any expiring Policy, the obligation of Borrowers then Lender may procure, but shall not be obligated to procure, such insurance and pay the Insurance Premiums is not affected or modified by therefor, and Borrower agrees to reimburse Lender for the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time in respect cost of such Insurance Premiums promptly on demand. Within thirty (30) Business Days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be three (3) months reasonably requested by Lender, taking into consideration changes in the value of payments under money over time, changes in liability laws, changes in prudent customs and practices of owners of property similar to the premium finance arrangementProperty located in or around the region in which the Property is located and as may be available at commercially reasonable rates. Lender acknowledges that the Policies, (ii) Borrowers shall tender delivered with respect to Administrative Agent each month (on such schedule the Property as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if date hereof satisfy the Borrowers share requirements of this Section 7. Such approval shall continue in effect until the expiration or termination of such Policies, provided that there is not a blanket policy) has paid downgrade by S&P, Xxxxx'x or Best of any insurer providing such Policies and, as a result thereof, Borrower fails to satisfy the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums rating criteria set forth in payment of the premium finance amountsSection 7.1.

Insurance Premiums. If an Event Borrowers shall pay when due all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the “Insurance Premiums”). During the term of Default or failure Loan, Borrowers shall deliver to Agent written evidence that all such Insurance Premiums have been paid by no later than the date that such Insurance Premiums are due, which evidence shall be acceptable to Agent in its sole but reasonable discretion. In the event that Borrowers fail to timely pay insurance premiums occursprovide Agent with acceptable evidence that the Insurance Premiums have been paid, then upon notice by Agent, at the time of and in addition to the monthly installments of principal and/or interest due under the Notes, Borrowers shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient (when aggregated with an initial deposit to be designated by Agent and paid by Borrower to Agent on the Closing Date or otherwise upon demand of Agent) to pay at least thirty ten (3010) days before CHICAGO/#2321168.11 they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "“Insurance Premiums"”). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except as provided in the preceding sentence, the The obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time in respect of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amounts.

Insurance Premiums. If an Event Subject to the provisions of Default or failure to timely pay insurance premiums occurs, then Borrowers Section 3.3 hereof; Borrower shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first premiums for such Policies (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance Premiums") as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums If Borrower is required to pay the Insurance Premiums. Except as provided in furnish such evidence and receipts pursuant to the preceding sentencesentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of any expiring Policy, the obligation of Borrowers then Lender may procure, but shall not be obligated to procure, such insurance and pay the Insurance Premiums therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on demand. Within thirty (30) Business Days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices of owners of property similar to the Property located in or around the region in which the Property is located and as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Section 7. Such approval shall continue in effect until the expiration or termination of such Policies, provided that there is not affected a downgrade by S&P, Xxxxx'x or modified by Best of any insurer providing such Policies and, as a result thereof; Borrower fails to satisfy the provisions rating criteria set forth in Section 7.1.2. Any renewal or replacement of such Policies, however, shall require Lender's approval as provided above in this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.2 unless (i) the amount companies providing such renewal or replacement Policies are licensed to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P, Xxxxx'x and Best's Insurance Reports that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. If an Event The party charged with Insurance ------------------ Administration of Default or failure to timely pay insurance premiums occurs, then Borrowers a Common Policy under Section 3.06(c) shall pay to Administrative Agent an initial deposit amount any premiums thereunder (retrospectively-rated or otherwise) which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance are required to be carried paid subsequent to the Distribution Date in order to preserve coverage under such Policy with respect to claims which might be made with respect to an act, omission or other event taking place on or prior to the Distribution Date and shall provide the other party with such evidence as it may from time to time reasonably require as to the payment of such premiums and the fact that the relevant Common Policy is in full force and effect. The party responsible for such Insurance Administration shall have the right to be reimbursed on demand by Borrowers pursuant the other party for the portion of all of such premiums that pertain to this Agreement the claims, debts, liabilities and obligations of the Parent Group or the other Financing Documents Former Parent Businesses (collectivelywith respect to Common Policies the Insurance Administration of which is charged to New Xxxxxxxx), or for the claims, debts, liabilities and obligations of the New Xxxxxxxx Group or the Former Xxxxxxxx Businesses (with respect to Common Policies the Insurance Administration of which is charged to Parent), as the case may be. If the party charged with such Insurance Administration does not pay any such premium, the "Insurance Premiums"). So long as no Event other party shall have the right to do so and to be reimbursed for the portion of Default exists hereunder, Administrative Agent shall apply the sums such premium which it would not have had to pay had the Insurance Premiums. Except as provided premium been paid in accordance with the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at neither Parent nor any given time in respect of such Insurance Premiums Parent Subsidiary shall be three (3) months of payments responsible for insurance adjustments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (policies provided by The Galleon Insurance Company Limited or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amountsThe Schooner Insurance Company Limited.

Insurance Premiums. If an Event of Default or failure to timely pay insurance premiums occurs, then Borrowers (a) Borrower shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and Lender (i) $10,000.00 on the first date hereof on account of Insurance Premiums, and (1stii) day of on each calendar month thereafter a sum equal to Payment Date one-twelfth (1/12) of the amount estimated Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by Administrative Agent the Policies upon the expiration thereof in order to be accumulate with Lender sufficient funds to pay all such Insurance Premiums at least thirty (30) days before they become due and payable all insurance premiums and other similar charges prior to the expiration of the Policies. Such amounts will be transferred by Lender to a Subaccount (the “Insurance Subaccount”). If Lender determines in connection with its reasonable judgment that the insurance funds in the Insurance Subaccount will be insufficient to pay (or in excess of) the Insurance Premiums next coming due, Lender may, upon thirty (30) days’ notice to Borrower, increase (or decrease) the monthly contribution required to be carried made by Borrowers pursuant Borrower to this Agreement the Insurance Subaccount. (b) Provided that no Default or the other Financing Documents (collectively, the "Insurance Premiums"). So long as no Event of Default exists hereunderis continuing, Administrative Agent shall Lender will (a) apply the sums to pay funds in the Insurance Premiums. Except as provided in the preceding sentence, the obligation Subaccount to payments of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount required to be escrowed made by Borrower pursuant to Section 7.1, provided that Borrower has promptly supplied Lender with Administrative Agent at notices of all Insurance Premiums coming due, or (b) if Borrower has not promptly supplied Lender with notices of Insurance Premiums coming due, reimburse Borrower for such amounts, within fifteen (15) days after presentation of evidence of payment. In making any given time in respect payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or agent, without inquiry into the accuracy of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangementxxxx, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (statement or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amountsestimate.

Insurance Premiums. Subject to the provisions of Section 3.3 hereof, Borrower shall pay the premiums for such Policies (the "INSURANCE PREMIUMS") as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least fifteen (15) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried Business Days after request by Borrowers pursuant to this Agreement or the other Financing Documents (collectivelyLender, the "Insurance Premiums"). So long as no Event of Default exists hereunder, Administrative Agent Borrower shall apply the sums to pay the Insurance Premiums. Except as provided obtain such increases in the preceding sentenceamounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the obligation value of Borrowers money over time, changes in liability laws, changes in prudent customs and practices of owners of property similar to pay the Insurance Premiums Property located in or around the region in which the Property is located and as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Section 7. Such approval shall continue in effect until the expiration or termination of such Policies, provided that there is not affected a downgrade by S&P, Moody's or modified by Best of any insurer providing such Policies and, as a resxxx xxxreof, Borrower fails to satisfy the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time rating criteria set forth in respect of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amountsSection 7.

Insurance Premiums. If an Event At the time of Default or failure and in addition to timely pay insurance premiums occursthe monthly installments of principal and/or interest due under the Notes, then Borrowers shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount reasonably estimated by Administrative Agent to be sufficient (when aggregated with an initial deposit to be designated by Agent and paid by Borrower to Agent on the Closing Date) to be held by Agent in an insurance reserve (“Insurance Reserve”) to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "“Insurance Premiums"”). So long as no Event of Default exists hereunder, Administrative the funds contained in the Insurance Reserve shall be utilized to reimburse Borrowers solely for Insurance Premiums related to the Projects. Upon request by Borrower’s Representative, Agent shall provide Borrowers with the amounts deposited by Borrowers pursuant to this Section 2.4(c) so that such amounts may be used (in addition to other funds provided by Parent or any other Person) to pay the amount of such insurance premiums payable by Parent prior to the due date therefor. Except as set forth in the preceding sentence, Agent may apply the sums to pay the Insurance Premiums. Except as provided in the preceding sentence, the The obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheldwithheld or delayed, then (i) the amount to be escrowed with Administrative Agent at any given time in respect of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amounts. Lenders and Agent acknowledge that the insurance required to be maintained by Borrowers pursuant to this Agreement and the other Financing Documents is maintained through corporate policies of Parent and such insurance insures Persons and property in addition to Borrowers and the Projects. CHICAGO/#2502765.12 Accordingly, Insurance Premiums, as defined above, shall only be that portion of the applicable insurance premiums that are allocated to the Borrowers or to the Projects, in each case, by Parent or the applicable insurer, provided, however, that such insurance premiums shall be allocated on a consistent basis in accordance with commercially reasonable standards for business entities similarly situated in the industry.

Insurance Premiums. If an Event Subject to the provisions of Default or failure to timely pay insurance premiums occursSection 3.3 hereof, then Borrowers shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first premiums for such Policies (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance Premiums") as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrowers are not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums If Borrowers are required to pay the Insurance Premiums. Except as provided in furnish such evidence and receipts pursuant to the preceding sentencesentence and Borrowers do not furnish such evidence and receipts at least ten (10) days prior to the expiration of any expiring Policy, the obligation of Borrowers then Lender may procure, but shall not be obligated to procure, such insurance and pay the Insurance Premiums therefor, and Borrowers agree to reimburse Lender for the cost of such Insurance Premiums promptly on demand. Within thirty (30) Business Days after request by Lender, Borrowers shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices of owners of property similar to the Property located in or around the region in which the Property is located and as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Section 7. Such approval shall continue in effect until the expiration or termination of such Policies, provided that there is not affected a downgrade by S&P, Xxxxx’x or modified by Best of any insurer providing such Policies and, as a result thereof, Borrowers fail to satisfy the provisions rating criteria set forth in Section 7.1.2. Any renewal or replacement of such Policies, however, shall require Lender’s approval as provided above in this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.2 unless (i) the amount companies providing such renewal or replacement Policies are licensed to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P, Xxxxx’x and Best’s Insurance Reports that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrowers in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. Borrower shall cause Owner to pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies (unless such Insurance Premiums have been paid by Senior Lender pursuant to Section 3.3 of the Senior Loan Agreement) with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Senior Lender pursuant to Section 3.3 of the Senior Loan Agreement). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due Business Days after request by Lender, Borrower shall cause Owner to obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and payable all insurance premiums practices of owners of property similar to the Property located in or around the region in which the Property is located and other similar charges as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Article 7. Such approval shall continue in connection with effect until the insurance required expiration or termination of such Policies, provided that there is not a downgrade by S&P or Mxxxx’x of any insurer providing such Policies and, as a result thereof, Borrower fails to be carried by Borrowers pursuant to this Agreement satisfy the rating criteria set forth in Section 7.1.2 above. Any renewal or the other Financing Documents (collectivelyreplacement of such Policies, the "Insurance Premiums"). So long as no Event of Default exists hereunderhowever, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except require Lender’s approval as provided above in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.3 unless (i) the amount companies providing such renewal or replacement Policies are licensed or authorized to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P and Mxxxx’x that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. Borrower shall cause Owner to pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies (unless such Insurance Premiums have been paid by Senior Lender pursuant to Section 3.3 of the Senior Loan Agreement) with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Senior Lender pursuant to Section 3.3 of the Senior Loan Agreement). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due Business Days after request by Lender, Borrower shall cause Owner to obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and payable all insurance premiums practices of owners of property similar to the Property located in or around the region in which the Property is located and other similar charges as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Article 7. Such approval shall continue in connection with effect until the insurance required expiration or termination of such Policies, provided that there is not a downgrade by S&P or Xxxxx’x of any insurer providing such Policies and, as a result thereof, Borrower fails to be carried by Borrowers pursuant to this Agreement satisfy the rating criteria set forth in Section 7.1.2 above. Any renewal or the other Financing Documents (collectivelyreplacement of such Policies, the "Insurance Premiums"). So long as no Event of Default exists hereunderhowever, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except require Lender’s approval as provided above in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.3 unless (i) the amount companies providing such renewal or replacement Policies are licensed or authorized to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P and Xxxxx’x that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. Subject to the provisions of Section 3.3 hereof, Borrower shall pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower is not required to furnish such evidence of payment to Lender in the event that such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof). If an Event Borrower is required to furnish such evidence and receipts pursuant to the preceding sentence and Borrower does not furnish such evidence and receipts at least ten (10) days prior to the expiration of Default or failure to timely pay insurance premiums occursany expiring Policy, then Borrowers Lender may procure, but shall pay not be obligated to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to procure, such insurance and pay the Insurance Premiums next becoming due therefor, and Borrower agrees to reimburse Lender for the cost of such Insurance Premiums promptly on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least demand. Within thirty (30) days before they become due Business Days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and payable all insurance premiums practices of owners of property similar to the Property located in or around the region in which the Property is located and other similar charges as may be available at commercially reasonable rates. Lender acknowledges that the Policies, delivered with respect to the Property as of the date hereof satisfy the requirements of this Section 7. Such approval shall continue in connection with effect until the insurance required expiration or termination of such Policies, provided that there is not a downgrade by S&P or Xxxxx’x of any insurer providing such Policies and, as a result thereof, Borrower fails to be carried by Borrowers pursuant to this Agreement satisfy the rating criteria set forth in Section 7.1.2. Any renewal or the other Financing Documents (collectivelyreplacement of such Policies, the "Insurance Premiums"). So long as no Event of Default exists hereunderhowever, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except require Lender’s approval as provided above in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then Section 7.1.2 unless (i) the amount companies providing such renewal or replacement Policies are licensed to be escrowed with Administrative Agent at any given time do business in respect the state where the Property is located and have a claims paying ability rating by S&P and Xxxxx’x that satisfy the requirements set forth in Section 7.1.2 above or that, subject to the provisions of Section 7.1.5 below, such Insurance Premiums shall be three (3) months rating is no less than the rating as of payments under the premium finance arrangementdate hereof of the company providing the insurance approved by Lender as of the date hereof, (ii) Borrowers shall tender to Administrative Agent each month (on the coverage provided by such schedule renewal or replacement Policies is no less than the coverage approved by Lender as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding monthdate hereof, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums renewal or replacement Policies contain in payment all material respects the same terms and conditions as the Policies approved by Lender as of the premium finance amountsdate hereof and (iv) Lender has not notified Borrower in accordance with this Section 7.1 that the requirements for the Policies have changed since the date hereof.

Insurance Premiums. If an Event For purposes of Default or failure to timely pay this Lease, the term "Insurance Premiums" shall mean and include the total annual insurance premiums occursand other charges for all insurance policies maintained by Landlord, then Borrowers from time to time, for or with respect to the Shopping Center or any part thereof, or any land, buildings or other improvements therein, including, without limitation, fire and extended coverage, public liability, property damage, boiler, rental loss and other insurance in form and amount deemed necessary by Landlord. Tenant shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the Landlord in monthly payment described below to pay the Insurance Premiums next becoming due and installments, on the first (1st) day of each calendar month thereafter a sum same dates as and in addition to the Minimum Guaranteed Rental, an amount equal to one-twelfth (1/121/12th) of the amount Tenant's Pro Rata Share of Insurance Premiums, as estimated by Administrative Agent Landlord in good faith from time to time. As soon as practicable after the close of each calendar year during the term hereof, Landlord shall furnish a statement in writing to Tenant specifying the actual amount due by Tenant in respect of Tenant's Pro Rata Share of Insurance Premiums. In the event the total of the monthly payments theretofore paid by Tenant under this Section 18.4 for such year exceeds the actual amount due, then the excess shall be sufficient applied pro rata as a credit on the monthly installments thereafter coming due under this Section 18.4. In the event the total of the monthly 18 payments theretofore paid by Tenant under this Section 18.4 for such year is less than the actual amount due, any such deficiency shall be due and payable by Tenant to pay at least Landlord within thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance Premiums"). So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except as provided in the preceding sentence, the obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time in respect after Tenant's receipt of such statement. For purposes hereof, premiums paid for insurance policies having policy years which do not coincide with calendar years shall be prorated on a per diem basis for each calendar year affected, and total premiums for policies issued for more than one year will be prorated equally over the number of years of the term of such policies, regardless of differences in premium amounts actually paid during any particular year or years of such term. During any part of the Lease Term which shall be less than a full policy year, Tenant's Pro Rata Share of Insurance Premiums shall be three (3) months of payments under prorated on a daily basis between the premium finance arrangement, (ii) Borrowers parties to the end that Tenant shall tender only pay for Insurance Premiums attributable to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner portion of the policy if year occurring within the Borrowers share Lease Term. Tenant's audit rights specified in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent Section 6.5 above shall have no obligation likewise apply to remit such escrowed sums in payment of the premium finance amountsInsurance Charges.

Insurance Premiums. If an Event of Default At any time after Borrower (or failure ALC or its Affiliates as applicable) no longer pays or causes to timely pay insurance premiums occursbe paid its Insurance Premiums (as defined below) annually in advance, then at the time of and in addition to the monthly installments of principal and interest due under the Notes, Borrowers shall pay to Administrative Agent an initial deposit amount which is sufficient when aggregated with the monthly payment described below to pay the Insurance Premiums next becoming due and on the first (1st) day of each calendar month thereafter a sum equal to one-twelfth (1/12) of the amount estimated by Administrative Agent to be sufficient to pay at least thirty (30) days before they become due and payable all insurance premiums and other similar charges in connection with the insurance required to be carried by Borrowers pursuant to this Agreement or the other Financing Documents (collectively, the "Insurance PremiumsINSURANCE PREMIUMS")) at least thirty (30) days before they become due and payable. So long as no Event of Default exists hereunder, Administrative Agent shall apply the sums to pay the Insurance Premiums. Except These sums may be commingled with the general funds of Agent, and no interest shall be payable thereon nor shall these sums be deemed to be held in trust for the benefit of Borrowers. If Agent at any time reasonably determines that such amount on deposit is insufficient to fully pay such Insurance Premiums, Borrowers shall, within ten (10) days following notice from Agent, deposit such additional sum as provided in may be reasonably required by Agent. On the preceding sentenceMaturity Date, the moneys then remaining on deposit with Agent or its agent shall, at Agent's option, be applied against the Indebtedness or, if all Indebtedness has been indefeasibly paid in full, returned to Borrowers. The obligation of Borrowers to pay the Insurance Premiums is not affected or modified by the provisions of this section. Notwithstanding the foregoing, if the insurance premiums are paid via a premium financing arrangement to which Administrative Agent has given its written consent, which consent shall not be unreasonably withheld, then (i) the amount to be escrowed with Administrative Agent at any given time in respect of such Insurance Premiums shall be three (3) months of payments under the premium finance arrangement, (ii) Borrowers shall tender to Administrative Agent each month (on such schedule as Administrative Agent shall reasonably request) evidence that Borrowers (or the owner of the policy if the Borrowers share in a blanket policy) has paid the applicable premium finance amount due for the preceding month, and (iii) Administrative Agent shall have no obligation to remit such escrowed sums in payment of the premium finance amountsSection 5.10.