Common use of Reserve Funds, Generally Clause in Contracts

Reserve Funds, Generally. 7.7.1 Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.

Reserve Funds, Generally. 7.7.1 Borrower grants 7.6.1 Borrowers grant to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 7.6.2 Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 The 7.6.3 Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 The 7.6.4 Reserve Funds interest shall be held in interest bearing accounts and all accounts. All earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 Borrower 7.6.5 Borrowers shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 7.6.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Replacement Reserve FundsFund. 7.6.7 All payments of Reserve Funds required to be paid to Lender shall be paid into the pertinent sub-accounts under the Lockbox Account.

Reserve Funds, Generally. 7.7.1 (a) Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied or distributed in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 (b) Upon the occurrence and during the continuance of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 (c) The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lenderfunds. 7.7.4 The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 (d) Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 (e) Lender shall not be liable for any loss sustained on the investment of any funds constituting the Replacement Reserve FundsFund in one or more Permitted Investments.

Reserve Funds, Generally. 7.7.1 7.5.1 Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 7.5.2 Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 7.5.3 The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 7.5.4 The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 7.5.5 Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.

Reserve Funds, Generally. 7.7.1 Borrower grants to Lender a first-first priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 . Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 . The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 . The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 . Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 UCC 1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender . The Reserve Funds shall not constitute trust funds and may be liable for any loss sustained on the investment of any commingled with other monies held by Lender. Any funds constituting remaining in the Reserve FundsAccount upon satisfaction in full of the Debt or upon a Defeasance Event shall be promptly returned to Borrower.

Reserve Funds, Generally. 7.7.1 (a) Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and the related Accounts and any and all monies now or hereafter deposited in each Reserve Fund and related Account as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds and the related Accounts shall constitute additional security for the Debt. 7.7.2 (b) Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 (c) The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 (d) The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund, except that earnings or interest on the Tax and Insurance Escrow Fund shall not be added to or become a part thereof and shall be the sole property of and shall be paid to Lender. 7.7.5 (e) Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or related Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.

Reserve Funds, Generally. 7.7.1 Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds Escrow Fund and the Ground Lease Escrow Fund (the "RESERVE FUNDS") and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 . Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 . The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 . The Reserve Funds shall be held in an Eligible Account (as defined in the Cash Management Agreement) and shall bear interest bearing accounts and all earnings or at a money market rate selected by Lender. All interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 . Borrower shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the Reserve Funds. Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.or

Reserve Funds, Generally. 7.7.1 Borrower grants (a) Borrowers grant to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 . Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 . The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 (b) Neither Borrower shall notshall, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statementsfinancing statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender (c) The Reserve Funds shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.held in an Eligible Account and shall bear interest at a money market rate selected by Lender. All interest or other earnings on

Reserve Funds, Generally. 7.7.1 7.6.1 Borrower grants to Lender a first-first priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 7.6.2 Upon the occurrence of an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 7.6.3 The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 7.6.4 Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Reserve Funds.

Reserve Funds, Generally. 7.7.1 (a) Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt. 7.7.2 (b) Upon the occurrence of (i) an Event of Default, Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. 7.7.3 (c) The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 7.7.4 (d) The Reserve Funds shall be held in interest bearing accounts and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be disbursed in the same manner as other monies deposited in such Reserve Fund. 7.7.5 (e) Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 UCC Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. 7.7.6 Lender shall not be liable for (f) Notwithstanding anything to the contrary contained herein, any loss sustained on the investment of any funds constituting amounts remaining in the Reserve FundsFunds after the Debt has been paid in full shall be paid to Borrower.