Common use of Payments Received Under the Cash Management Agreement Clause in Contracts

Payments Received Under the Cash Management Agreement. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower’s obligations with respect to the payment of the Monthly Debt Service Payment Amount shall be deemed satisfied to the extent sufficient amounts are deposited in the Cash Management Account to satisfy such obligations pursuant to this Agreement on the dates each such payment is required, regardless of whether any of such amounts are so applied by Mortgage Lender, CMA Agent or Administrative Agent, provided that if the Event of Default arises solely from a CPLV Lease Default, prior to a Priority Waterfall Cessation Event, Administrative Agent shall apply amounts on deposit in the applicable subaccounts of the Cash Management Account to payment of the Priority Waterfall Payments and any amounts remaining in such subaccounts after payment of the Priority Waterfall Payments shall be deposited in the Excess Cash Flow Reserve.