Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordination.
Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, and not more frequently than once each Interest Accrual Period, Operator shall notify Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.
Payment of Basic Carrying Costs. Borrower shall use its best efforts to cause all notices of the amount and due date of payments of Basic Carrying Costs to be sent to Lender at least ten (10) Business Days prior to such due date. Provided that (i) Lender has received notice of the amount and due date of any payment of Basic Carrying Costs and (ii) there are sufficient funds available in the Basic Carrying Costs Sub-Account, Lender shall make such payment of Basic Carrying Costs directly to the Governmental Authority or insuror entitled thereto. If the amount in the Basic Carrying Costs Sub-Account is not sufficient to pay the Basic Carrying Costs, Borrower shall pay to Lender, within five (5) Business Days of written notice, an amount which Lender shall estimate as sufficient to make up the deficiency. Notwithstanding anything contained herein to the contrary, Borrower may only request disbursements from the Basic Carrying Costs Sub-Account to pay premiums on the Policies to the extent of amounts deposited in the Basic Carrying Costs Sub-Account pursuant to clause (ii) of the definition of "Basic Carrying Costs Monthly Installment". Nevertheless, Lender shall also have the right, without Borrower's request, but not the obligation, to disburse amounts in the Basic Carrying Costs Sub-Account in payment of premiums for the Policies if Borrower shall fail to pay the same when due.
Payment of Basic Carrying Costs. Except to the extent that Lender is obligated to pay Basic Carrying Costs from a Basic Carrying Costs Sub-Account pursuant to the terms of Section 2.12(f), each Borrower shall pay all Basic Carrying Costs with respect to itself and its Facility in accordance with the provisions of the Related Mortgage, subject, however, to such Borrower's rights to contest payment of the same in accordance with the Related Mortgage. Each Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender or any Deed of Trust Trustee an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender's or the Deed of Trust Trustee's interests. (In the event such a change in law prohibits a Borrower from assuming liability for payment of any such Imposition, the outstanding Indebtedness shall, at the option of Lender, become due and payable, on the date that is 120 days after such change in law and failure to pay such amounts on the date due shall be an Event of Default.) Should an Event of Default have occurred, the proceeds on deposit in any Basic Carrying Costs Sub-Account may be applied by Lender in any manner as Lender in its sole discretion may determine.
Payment of Basic Carrying Costs a. At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrower shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of Borrower on or prior to the due date thereof. Together with each such request, Borrower shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.
Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (without regard to the amount of money in the Basic Carrying Costs Sub-Account). Should an Event of Default occur, the sums on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender in payment of any Basic Carrying Costs or may be applied to the payment of the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided.
Payment of Basic Carrying Costs. Except to the extent that ------------------------------- Lender is obligated to pay Basic Carrying Costs from the Basic Carrying Costs Sub-Account pursuant to the terms of Section 2.12(f), Borrower and Operator ------- ------- shall pay all Basic Carrying Costs with respect to themselves and the Facility in accordance with the provisions of the Mortgages, subject, however, to Borrower's and Operator's rights to contest payment of same in accordance with the Mortgages. The obligation of Borrower and Operator to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation in connection with the Loan to pay any property taxes or other Impositions or which otherwise adversely affect Lender's interests. (In the event such a change in law prohibits Borrower from assuming liability for payment of any such Imposition, the outstanding Indebtedness shall, at the sole option of Lender, become due and payable on the date that is 120 days after such change in law without payment of a Yield Maintenance Premium and failure to pay such amounts on the date due shall be an Event of Default. Should an Event of Default have occurred and be continuing, the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender to amounts Borrower and/or Operator is obligated to pay under the Loan Documents in any manner as Lender in its sole discretion may determine.
Payment of Basic Carrying Costs. At least five Business Days prior to the date that payment of any Basic Carrying Cost would become delinquent and not more frequently than once each month, Borrower shall notify Lender and Servicer in writing and request that Servicer pay such Basic Carrying Cost on behalf of Borrower on or prior to the delinquency date thereof. Together with each such request, Borrower shall furnish Lender and Servicer copies of bills and other documentation as may be reasonably required by Lender or Servicer to establish that such Basic Carrying Cost is then due. Servicer shall make such payments out of the Basic Carrying Cost Sub-Account before same shall become due or delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender and Servicer have received appropriate documentation to establish the amount(s) due and the due date(s).
Payment of Basic Carrying Costs. Except to the extent that Lender is obligated to pay Basic Carrying Costs from the Basic Carrying Costs Sub-Account pursuant to the terms of Section 2.12(f), Borrower shall pay all Basic Carrying Costs with respect to itself and the Facility in accordance with the provisions of the Mortgage, subject, however, to Borrower's rights to contest payment of same in accordance with the Mortgage. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender or any Deed of Trust Trustee an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender's or the Deed of Trust Trustee's interests. (In the event such a change in law prohibits Borrower from assuming liability
Payment of Basic Carrying Costs. At least ten Business Days prior to the due date of any Basic Carrying Cost and not more frequently than once each month with respect to each such Basic Carrying Cost, Borrower shall notify Lender and Servicer in writing and request that Lender or Servicer pay such Basic Carrying Cost on behalf of Borrower on or prior to the due date thereof or inform Lender and Servicer that Borrower is contesting such Basic Carrying Cost in accordance with Section 2.06(b) of the Related Mortgage. Together with each such notice, Borrower shall furnish Lender and Servicer with copies of bills and other documentation as may be reasonably required by Lender or Servicer to establish that such Basic Carrying Cost is then due or is being properly contested pursuant to Section 2.06(b) of the Related Mortgage. Unless such Basic Carrying Cost is being so contested, Lender or Servicer shall make such payments on behalf of Borrower out of the Basic Carrying Cost Sub-Account before same shall be due to the
