Release of Insurance Premium Funds. Subject to the provisions of Section 6.8.2 hereof, Lender shall apply the Insurance Premium Funds to payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agent, without inquiry into the accuracy of such xxxx, statement or estimate.
Appears in 2 contracts
Samples: Loan Agreement (Host Marriott L P), Loan Agreement (Host Marriott Corp/)
Release of Insurance Premium Funds. Subject to the provisions of Section 6.8.2 hereof6.3.3, Lender shall apply the Insurance Premium Funds to payment of Insurance Premiums. In making any payment relating to Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the insurer or its agentLender, without inquiry into the accuracy of such xxxx, statement or estimate. If the amount of the Insurance Premium Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower.
Appears in 2 contracts
Samples: Second Mezzanine Loan Agreement, Second Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)
