Common use of Application Generally Clause in Contracts

Application Generally. To the extent required to be paid by a Borrower with respect to a Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrowers or Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrowers shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrowers or Operating Lessees) or (y) to reimburse Borrowers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance satisfactory to Lender, subject, however, to Borrowers' and Operating Lessees' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrowers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a) and 9.3.1(b) above, Lender shall notify Borrowers of such determination and Borrowers and Operating Lessees shall increase their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.

Application Generally. To the extent required to be paid by a Borrower with respect to a PropertyObligor, Lender Agent will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrowers or Operating Lessees Obligor hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Taxes and Insurance Premiums, Borrowers Obligor shall not be in default hereunder if Lender Agent shall have not so applied such balance to the payment of such Taxes, Other Charges Taxes and Insurance Premiums, unless Lender Agent shall have not so applied such balance at the request of Borrowers or Operating LesseesObligor) or (y) to reimburse Borrowers or Operating Lessees Obligor for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance satisfactory to LenderAgent, subject, however, to Borrowers' and Operating Lessees' Obligor’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender Agent may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other ChargesTaxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereofthereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender Agent shall, at its option, return any excess to Borrowers and Operating Lessees Obligor or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees Obligor shall have the right to have Lender Agent apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesTaxes. If at any time Lender Agent determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth above in Sections 9.3.1 (a) and 9.3.1(b) abovethis Section 7.13, Lender Agent shall notify Borrowers Obligor of such determination and Borrowers the amounts transferred pursuant to Section 7.13(a)(i) and Operating Lessees (ii) (or, if such amounts available to be transferred are not sufficient for such purposes, the amounts required to be funded by Obligor) shall increase their monthly payments to Lender by the amount that Lender Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Insurance Policies, as the case may be.

Application Generally. To the extent required to be paid by a Borrower with respect to a Property, Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account either: (x) to pay Taxes and Other Charges and Charges, Insurance Premiums and rents payable pursuant to the Ground Leases required to be paid made by Borrowers or Operating Lessees Obligor hereunder (and so long as the Tax Tax, Insurance and Insurance Ground Rents Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsground rents, Borrowers Obligors shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsground rents, unless 138 140 Lender shall have not so applied such balance at the request of Borrowers or Operating LesseesObligor) or (y) to pay such amounts or to reimburse Borrowers or Operating Lessees Obligors for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance reasonably satisfactory to Lender, subject, however, to Borrowers' and Operating LesseesObligors' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax Tax, Insurance and Insurance Ground Rents Escrow Account, Lender may do so according to any bill, ▇▇▇▇, statement atement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums) or ground lessor (with respect to ground rents), without inquiry into the accuracy of such bill, ▇▇▇▇, statement atement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees Obligor of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount Obligors reasonably determine that amounts contained in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account shall exceed the amounts required to be contained therein, due to a decrease in tax or insurance rates in the applicable jurisdiction or for Taxes the applicable Property or as caused by another similar event, Obligors may submit once during each fiscal year to Lender evidence of the existence of such excess, and Other Charges Lender shall have a period of one month to consider such evidence. Provided no Event of Default is then continuing, there is no pendency of a Low NOI Period and Insurance PremiumsLender reasonably determines that such excess exists, Lender shall, at its option, return any excess to Borrowers and Operating Lessees or credit shall remit such excess against future payments amounts to be made Obligors on the first Payment Date (not to the Tax and Insurance Escrow Accountexceed one Payment Date per fiscal year) following such one-month period. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees Obligors shall have the right to have Lender apply amounts deposited in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesCharges obligation. If at any time Lender reasonably determines that the amount in the Tax Tax, Insurance and Insurance Ground Rents Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a9.4(a), 9.4(b) and 9.3.1(b9.4(c) above, Lender shall notify Borrowers Obligors of such determination and Borrowers and Operating Lessees the amounts paid for these items shall increase their monthly payments to Lender be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes Charges and/or expiration of the PoliciesPolicies and/or delinquency of the ground rent payments, as the case may be.

Application Generally. To the extent required to be paid by a Borrower an Issuer with respect to a Property, Lender Note Trustee will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges (excluding any Ground Rent) and Insurance Premiums required to be paid by Borrowers Issuers or Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrowers Issuers shall not be in default hereunder if Lender Note Trustee shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender Note Trustee shall have not so applied such balance at the request of Borrowers Issuers or Operating Lessees) or (y) to reimburse Borrowers Issuers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance satisfactory to LenderNote Trustee, subject, however, to BorrowersIssuers' and Operating Lessees' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender Note Trustee may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers Issuers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender Note Trustee shall, at its option, return any excess to Borrowers Issuers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers Issuers and Operating Lessees shall have the right to have Lender Note Trustee apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender Note Trustee determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a9.3.1(a) and 9.3.1(b) above, Lender Note Trustee shall notify Borrowers Issuers of such determination and Borrowers Issuers and Operating Lessees shall increase their monthly payments to Lender Note Trustee by the amount that Lender Note Trustee estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.. 144

Application Generally. To the extent required to be paid by a Borrower with respect to a Property, Lender will apply amounts in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account either: (x) to pay Taxes and Other Charges and Charges, Insurance Premiums and rents and other charges under the Ground Leases required to be paid made by Borrowers or Operating Lessees Borrower hereunder and thereunder (and so long as the Tax Tax, Insurance and Insurance Ground Lease Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, Borrowers Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, unless Lender shall have not so applied such balance at the request of Borrowers or Operating LesseesBorrower) or (y) to reimburse Borrowers or Operating Lessees Borrower for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance reasonably satisfactory to Lender, subject, however, to Borrowers' and Operating Lessees' Borrower's right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax Tax, Insurance and Insurance Ground Lease Escrow Account, Lender may do so according to any ▇▇▇▇bill, statement or estimate procured ▇▇▇cured from the appropriate public office (with respect to Taxes and Other Charges) or ), insurer or agent (with respect to Insurance Premiums)) or ground lessor under any Ground Lease, without inquiry into the accuracy of such ▇▇▇▇bill, statement or estimate or ▇▇ into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof). If the amount in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account shall exceed the amounts due for Taxes and Other Charges Charges, Insurance Premiums and Insurance Premiumsrents and other charges under the Ground Leases, Lender shall, at its option, return any excess to Borrowers and Operating Lessees Borrower or credit such excess against future payments to be made to the Tax Tax, Insurance and Insurance Ground Lease Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees Borrower shall have the right to have Lender apply amounts deposited in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other ChargesCharges obligation. If at any time Lender determines that the amount in the Tax Tax, Insurance and Insurance Ground Lease Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrowers of such determination and Borrowers and Operating Lessees shall increase their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.9.3.1

Application Generally. To the extent required to be paid by a Borrower with respect to a Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid made by Borrowers or Operating Lessees Borrower hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrowers Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrowers or Operating LesseesBorrower) or (y) to reimburse Borrowers or Operating Lessees Borrower for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance reasonably satisfactory to Lender, subject, howeverhowever in the case of (x) or (y), to Borrowers' and Operating Lessees' Borrower’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless Lender was given written notice by Borrowers or Operating Lessees Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrowers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a) and 9.3.1(b) above, Lender shall notify Borrowers of such determination and Borrowers and Operating Lessees shall increase their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.each

Application Generally. To the extent required to be paid by a Borrower with respect to a the Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrowers or Operating Lessees Borrower hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrowers Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrowers Borrower or Operating Lesseesshall be legally constrained from doing so by reason of any insolvency related Borrower or any other event) or (y) to reimburse Borrowers or Operating Lessees Borrower for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance satisfactory to Lender, subject, however, to Borrowers' and Operating Lessees' Borrower’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees Borrower of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii5.1.2(b) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrowers and Operating Lessees Borrower or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees Borrower shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrowers Borrower of such determination and Borrowers and Operating Lessees Borrower shall increase their its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.

Application Generally. To the extent required to be paid by a Borrower with respect to a Property, Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be paid by Borrowers or and Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrowers shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrowers or Operating Lessees) or (y) to reimburse Borrowers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's ’s Certificate in form and substance satisfactory to Lender, subject, however, to Borrowers' ’ and Operating Lessees' ’ right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any ▇b▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇b▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Borrowers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Lender shall, at its option, return any excess to Borrowers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Borrowers and Operating Lessees shall have the right to have Lender apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Lender determines that the amount in the Tax and Insurance Escrow Account is not or will not be sufficient to pay the items set forth in Sections 9.3.1 (a9.3.1(a) and 9.3.1(b) above, Lender shall notify Borrowers of such determination and Borrowers and Operating Lessees shall increase their monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and Other Changes and/or expiration of the Policies, as the case may be.