Common use of Insurance Company Clause in Contracts

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (ai) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (iA) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (iiB) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (bii) shall, with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iiiC) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (gvii) shall be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies Copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx ABS Special Opportunities Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.not

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (ai) be issued by financially sound and responsible insurance companies authorized to do business in the states States where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or FitchFitch and “A-:IX” or better by A.M. Best, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (iA) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred percent (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and “A-:IX” or better by A.M. Best and (iiB) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or FitchFitch and “A-VII” or better by A.M. Best (provided, however, that Xxxxxx has agreed to accept the current insurance companies, Starstone Specialty Insurance Company, which is rated “A-:XII” by A.M. Best, Canopius US Insurance Inc., which is rated “A-:XII” by A.M. Best, and Fortegra Specialty Insurance Company, which is rated “A-:VIII” by A.M. Best; provided, that, at the expiration date of the current policy term, the coverage must be replaced and the Policies shall be issued by financially sound and responsible insurance companies authorized to do business in the States where the applicable Properties are located and having a financial strength rating of at least “A3” or better by Moody’s or “A-” or better by S&P or Fitch and “A:IX” or better by A.M. Best); (bii) shall, with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither none of Borrower, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellationcancellation as set forth in Section 5.1.1(e)(ii), and (iiiC) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (gvii) shall be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.87

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (ai) be issued by financially sound and responsible insurance companies authorized to do business in the states States where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or FitchFitch and “A-:IX” or better by A.M. Best, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (iA) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred percent (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and “A- :IX” or better by A.M. Best and (iiB) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” or better by Xxxxx’x Moody’s or, if Xxxxx’x Moody’s does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or FitchFitch and “A-VII” or better by X.X. Xxxx (provided, however, that Xxxxxx has agreed to accept the current insurance companies, Starstone Specialty Insurance Company, which is rated “A-:XII” by X.X. Xxxx, Canopius US Insurance Inc., which is rated “A- :XII” by X.X. Xxxx, and Fortegra Specialty Insurance Company, which is rated “A-:VIII” by X.X. Xxxx; provided, that, at the expiration date of the current policy term, the coverage must be replaced and the Policies shall be issued by financially sound and responsible insurance companies authorized to do business in the States where the applicable Properties are located and having a financial strength rating of at least “A3” or better by Moody’s or “A-” or better by S&P or Fitch and “A:IX” or better by A.M. Best); (bii) shall, with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.whom

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of 120 properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies Copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 (i) shall (a) be issued by financially sound and responsible insurance companies authorized approved to do business in the states where the applicable Properties are located located, either (A) one or more companies with a financial strength and having a claims paying ability rating of (1) “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P and “A2” or Fitchbetter by Xxxxx’x, provided, however, that if Borrower elects to have its insurance coverage provided by and (2) a rating of A:VIII or better in the current A.M. Best’s Insurance Reports; or (B) a syndicate of insurers, then, insurers through which seventy-five percent (75%) of the coverage (if such syndicate consists of five there are four (54) or more members, (ifewer members of the syndicate) or at least sixty percent (60%) of the insurance coverage (or seventy-if there are five percent (75%) if such syndicate consists of four (45) or fewer members) and one hundred (100%) more members of the first layer of such insurance coverage shall be provided by insurance companies syndicate) is with insurers having a rating of by S&P not lower than “A3A” and “A2” or better by Xxxxx’x or, if Xxxxx’x does and by A.M. Best not provide lower than A:VIII and the balance of the coverage is with insurers having a rating by S&P of an applicable insurance company, a rating of not lower than “A-BBB” and “Baa2” or better by S&P or Fitch Xxxxx’x and by A.M. Best not lower than A:VIII; (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x orshall, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appearappear as the Lender and Mortgagee; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Standard Mortgagee Clause and a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paidpaid as further described in Section 5.2; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.providing

Insurance Company. All Policies required pursuant to Section 5.1.1 (i) shall (a) be issued by financially sound and responsible insurance companies authorized approved to do business in the states where the applicable Properties are located located, either (A) one or more companies with a financial strength and having a claims paying ability rating of (1) “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P and “A2” or Fitchbetter by Xxxxx’x, provided, however, that if Borrower elects to have its insurance coverage provided by and (2) a rating of A:VIII or better in the current A.M. Best’s Insurance Reports; or (B) a syndicate of insurers, then, insurers through which seventy-five percent (75%) of the coverage (if such syndicate consists of five there are four (54) or more members, (ifewer members of the syndicate) or at least sixty percent (60%) of the insurance coverage (or seventy-if there are five percent (75%) if such syndicate consists of four (45) or fewer members) and one hundred (100%) more members of the first layer of such insurance coverage shall be provided by insurance companies syndicate) is with insurers having a rating of by S&P not lower than “A3A” and “A2” or better by Xxxxx’x or, if Xxxxx’x does and by A.M. Best not provide lower than A:VIII and the balance of the coverage is with insurers having a rating by S&P of an applicable insurance company, a rating of not lower than “A-BBB” and “Baa2” or better by S&P or Fitch Xxxxx’x and by A.M. Best not lower than A:VIII; (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x orshall, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appearappear as the Lender and Mortgagee; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Standard Mortgagee Clause and a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paidpaid as further described in Section 5.2; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and ten (iii10) days prior written notice for non-payment of premium, and (C) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender, it being acknowledged that a deductible up to 5% of the total insured value, subject to a $500,000 minimum, shall be maintained for California earthquake, flood losses at locations wholly or partially within Federal Emergency Management Agency (FEMA) flood zones A and V and windstorm losses to locations in tier one wind counties; and (gvii) shall be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductiblesdeductibles (subject to Section 5.1.2(vi)(C)), loss payees and insureds. Notwithstanding the foregoing, Navigators Insurance Company (“Navigators”) shall be an acceptable insurance company for the $25,000,000 excess $50,000,000 umbrella liability policy, so long as Navigators continues to maintain a rating with S&P of not lower than “A” and rating with A.M Best of not lower than “A:X”; provided, however, that if Xxxxx’x issues a downgrade, withdrawal or qualification of the ratings assigned by Xxxxx’x to the Securities or any class thereof in any Securitization, and such downgrade, withdrawal or qualification is due, in whole or in part, to the fact that Navigators is the insurance company for such portion of the umbrella liability policy, then, within fifteen (15) Business Days thereafter, Borrower shall either (a) replace Navigators with an insurance company meeting the requirements set forth hereinabove or (b) provide a credit wrap for Navigators in form and substance acceptable to Lender and from an insurance company meeting the Xxxxx’x rating requirements set forth hereinabove. In addition to the insurance coverages described in Section 5.1.15.1.1 above, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of Certificates and certification letters as described in the Section 5.1.1(b) evidencing coverage under the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.36.4 hereof). Within thirty sixty (3060) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty fifteen (3015) days after the prior to effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANKXxxxx Fargo Bank, NATIONAL ASSOCIATION 000 Xxxxxxx XxxxxxNational Association 0000 Xxxxxxxxx Xxxxx, Xxxxx 00 0000 XxXxxx, Virginia 22102 with a copy to: Midland Loan Services, a PNC Real Estate Business XX Xxx Xxxx00000 Xxxxxxx Xxxxxxx, Xxx Xxxx 00000 Attention: Chuckie X. Xxxxx XX 00000-0000 Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (f) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (g) be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. (a) All Policies required pursuant to Section 5.1.1 1.1.1 (i) shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states state where the applicable Properties are located Property is located, with (1) a financial strength and having a claims paying ability rating of (x) “A-” or better by S&P, (y) if rated by Mxxxx’x, “A3” or better by Xxxxx’x or, Mxxxx’x or (z) if Xxxxx’x does not provide a rated by any rating of an applicable insurance company, a rating of “A-” or better by agencies other than S&P or FitchMxxxx’x, provided, equivalent ratings (to the ratings specified in the immediately preceding subclauses (x) and (y)) by all such other rating agencies; provided however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, then if such syndicate consists of five (5) or more members, (iA) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a claims paying ability rating of “A-” “ or better by S&P or Fitch and (iiB) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating claims paying ability of “BBB” or better by S&P or Fitch(2) a rating of A:X or better in the current Best’s Insurance Reports; provided, however, that notwithstanding the above, the earthquake insurers will satisfy Section 1.1.2 provided they maintain an A.M. Best rating of A-:VIII or better; (bii) with respect to all property insurance policiesshall, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Standard Mortgagee Clause/Lender’s Loss Payable Endorsement, or their equivalents, naming Lender Mortgagee as the person to whom all payments made by such insurance company shall be paid; (diii) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) shall contain a waiver of subrogation against LenderMortgagee; (fiv) shall contain such provisions as Lender Mortgagee deems reasonably necessary or desirable to protect its interest including endorsements endorsements, or their equivalents, providing (A) that (i) neither Borrowerno Mortgagor, Lender nor Mortgagee or any other party shall be a co-insurer under said Policies, (iiB) Lender shall receive at least thirty (30) days prior written notice of any modificationexcept as otherwise permitted herein, reduction or cancellation, and (iii) for a deductible per loss of acceptable to Lender but in no event an amount not more greater than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to LenderProperty and as is generally allowed by prudent institutional commercial mortgage lenders originating comparable mortgage loans; and (gv) shall be reasonably satisfactory in form and substance to Lender Mortgagee and shall be approved by Lender Mortgagee as to amounts, form, risk coverage, deductibles, loss payees and insureds. For so long TRIPRA is in effect, Mortgagee shall accept terrorism insurance with coverage against acts which are “certified” within the meaning of TRIPRA. In addition to the insurance coverages described in Section 5.1.11.1.1 above, Borrower Mortgagor shall obtain such other insurance as may from time to time be reasonably required by Lender Mortgagee in order to protect its interests. Certified copies Copies of the Policies shall be delivered to Lender Mortgagee at the address below (or to such other address or Person as Lender Mortgagee shall designate from time to time by notice to BorrowerMortgagor) on within ten (10) Business Days after Mortgagee’s written request to Mortgagor for such copies (or a carrier issued binder of insurance if the date hereof with respect to applicable Policy has not yet been received from the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANKinsurer): Citibank, NATIONAL ASSOCIATION N.A. ISAOA, ATIMA c/x XxxXxxx Xxxx Xxxxxx Xxxxxxx, Xxx. 00000 Outlook, Sxx. 000 Xxxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxxxxxx Xxxx, Xxx Xxxx XX 00000 Attention: Chuckie X. Xxxxx Borrower Mxxxx Xxxxxxxx Telephone: 900-000-0000 Email: mxxxx_x_xxxxxxxx@xxxxxxx.xxx Mortgagor shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender Mortgagee evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3)Mortgagee. Within thirty (30) days after request by LenderMortgagee, Borrower Mortgagor shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by LenderMortgagee, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 5.1.1(a) shall (ai) be issued by financially sound and responsible insurance companies authorized eligible to do business in the states state where the applicable Properties are located Insured Property is located, with a financial strength and having a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P or Fitchand, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers and, in all circumstances, satisfying the Two Agency Rating Test, provided, howeverhowever for multi-layered policies (“Multi-Layered Policies”), that (A) if Borrower elects to have its four (4) or fewer insurance companies issue the Policies, then (x) at least seventy-five percent (75%) of the insurance coverage represented by the Policies (the “75% Coverage”) must be provided by insurance companies with a syndicate claims paying ability rating of insurers, then“A” or better by S&P (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such syndicate consists carriers), with no carriers below “BBB” by S&P (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers) and (y) all carriers satisfy the Two Agency Rating Test, or (B) if five (5) or more membersinsurance companies issue the Policies, then (ix) at least sixty percent (60%) of the insurance coverage represented by the Policies (or seventy-five percent (75%the “60% Coverage”) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall must be provided by insurance companies having with a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P or Fitch (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers) with no carriers below “BBB” by S&P (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers) and (iiy) all carriers satisfy the remaining forty percent (40%) Two Agency Rating Test, provided, that with respect to the Policy for umbrella liability insurance, Westchester Fire shall be shall be an acceptable insurance company in its current participation amount and position within the syndicate until the expiration of the current Policy provided such insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having company maintains a rating of “Baa2A2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, or better from Moody’s and a rating of “BBBA” or better by S&P or from Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (fii) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, Policies and (iiiB) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the PropertiesInsured Property; and (iii) contain a waiver of subrogation against Lender. Notwithstanding the foregoing, but in no the event in excess of an amount that the insurance required hereunder is maintained through a Multi-Layered Policy, Borrower shall be permitted to maintain the Policies required hereunder with insurance companies which do not meet the foregoing requirements, including, for the coverage required by Section 5.1.1(i) above, a licensed captive insurance company reasonably acceptable to Lender; Lender which is owned by Guarantor (an “Otherwise Rated Insurer”), provided Borrower obtains a “cut-through” endorsement (that is, an endorsement which permits recovery against the provider of such endorsement if the insurer becomes insolvent), and (g) be satisfactory reinsurance in form and substance the case of a captive insurance company, in each case reasonably acceptable to Lender and shall be approved with respect to any Otherwise Rated Insurer from an insurance company which meets the claims-paying ability ratings required above or such higher rating (not to exceed A+ by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance S&P) as may from time to time be reasonably required by Lender in order to protect its interestsa Rating Agency. Certified copies Copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by written notice to Borrower) on the date hereof with respect to the current Policies (or binders to 80 be followed by the Policies to the extent such Policies are newly bound and have not been issued as of the date hereof) and within thirty ten (3010) days Business Days after the effective date receipt and approval by Borrower thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 60 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx Xxxx XX 00000 AttentionAttn: Chuckie X. Xxxxx Maxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance full as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.36.4 hereof). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 (i) shall (a) be issued by financially sound and responsible insurance companies authorized approved to do business in the states where the applicable Properties are located located, either (A) one or more companies with a financial strength and having a claims paying ability rating of (1) “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P (and “A2” or Fitchbetter by Xxxxx’x), provided, however, that if Borrower elects to have its insurance coverage provided by and (2) a rating of A:VIII or better in the current A.M. Best’s Insurance Reports; or (B) a syndicate of insurers, then, insurers through which seventy-five percent (75%) of the coverage (if such syndicate consists of five there are four (54) or more members, (ifewer members of the syndicate) or at least sixty percent (60%) of the insurance coverage (or seventy-if there are five percent (75%) if such syndicate consists of four (45) or fewer members) and one hundred (100%) more members of the first layer of such insurance coverage shall be provided by insurance companies syndicate) is with insurers having a rating of by S&P not lower than “A3A” (and “A2” or better by Xxxxx’x or, if Xxxxx’x does Xxxxx’x) and by A.M. Best not provide lower than A-:VIII and the balance of the coverage is with insurers having a rating by S&P of an applicable insurance company, a rating of not lower than “A-BBB” (and “Baa2” or better by S&P or Fitch Xxxxx’x) and by A.M. Best not lower than A-:VIII; (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x orshall, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Mortgage Lender and its successors and/or assigns as their interest may appearappear as the Lender and Mortgagee; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Standard Mortgagee Clause and a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; , subject to the rights of Mortgage Lender as further described in Section 5.2: (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Owner, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and ten (iii10) days prior written notice for non-payment of premium, and (C) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender, it being acknowledged that a deductible up to 5% of the total insured value, subject to a $500,000 minimum, shall be maintained for California earthquake, flood losses at locations wholly or partially within Federal Emergency Management Agency (FEMA) flood zones A and V and windstorm losses to locations in tier one wind counties; and (gvii) shall be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductiblesdeductibles (subject to Section 5.1.2(vi)(C)), loss payees and insureds. Notwithstanding the foregoing, Navigators Insurance Company (“Navigators”) shall be an acceptable insurance company for the $25,000,000 excess $50,000,000 umbrella liability policy, so long as Navigators continues to maintain a rating with S&P of not lower than “A” and rating with A.M Best of not lower than “A:X”; provided, however, that if Xxxxx’x issues a downgrade, withdrawal or qualification of the ratings assigned by Xxxxx’x to the Securities or any class thereof in any Securitization, and such downgrade, withdrawal or qualification is due, in whole or in part, to the fact that Navigators is the insurance company for such portion of the umbrella liability policy, then, within fifteen (15) Business Days thereafter, Borrower shall either (a) replace Navigators with an insurance company meeting the requirements set forth hereinabove or (b) provide a credit wrap for Navigators in form and substance acceptable to Lender and from an insurance company meeting the Xxxxx’x rating requirements set forth hereinabove. In addition to the insurance coverages described in Section 5.1.15.1.1 above, Borrower shall obtain (or cause Owner to obtain) such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of Certificates and certification letters as described in Section 5.1.1(b) evidencing coverage under the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxxxxxx Borrower shall cause Owner to pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.36.4 of the Mortgage Loan Agreement). Within thirty sixty (3060) days after request by Lender, Borrower shall obtain (or cause Owner to obtain) such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (a) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (i) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender Administrative Agent and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender Administrative Agent as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender Administrative Agent and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against LenderAdministrative Agent; (f) contain such provisions as Lender Administrative Agent deems reasonably necessary or desirable to protect its interest including endorsements providing that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender Administrative Agent shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iii) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to LenderAdministrative Agent; and (g) be satisfactory in form and substance to Lender Administrative Agent and shall be approved by Lender Administrative Agent as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender Administrative Agent in order to protect its interests. Certified copies Copies of the Policies shall be delivered to Lender Administrative Agent at the address below (or to such other address or Person as Lender Administrative Agent shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANKROTHESAY LIFE PLC Xxxxx 00, NATIONAL ASSOCIATION Xxx Xxxxxxxxxx Building 000 Xxxxxxx Xxxxxxxxxx Xxxxxx Xxxxxx, Xxxxx 00 Xxx Xxxx, Xxx Xxxx 00000 XX0X 0XX Attention: Chuckie X. Xxxxx Asset Operations 121 Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender Administrative Agent evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender Administrative Agent (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender Administrative Agent in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by LenderAdministrative Agent, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by LenderAdministrative Agent, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 5.1.1: (i) shall (a) be issued by financially sound and responsible insurance companies authorized permitted to do business in the states state where the applicable Properties are located Property is located, with a financial strength and having a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P or Fitch, (and the equivalent by all other Rating Agencies) (provided, howeverhowever for multi-layered policies, that (A) if Borrower elects to have its four (4) or less insurance companies issue the Policies, then at least 75% of the insurance coverage represented by the Policies must be provided by insurance companies with a syndicate claims paying ability rating of insurers“A” or better by S&P (and the equivalent by all other Rating Agencies), then, with no carrier below “BBB” (and the equivalent by all other Rating Agencies) or (B) if such syndicate consists of five (5) or more membersinsurance companies issue the Policies, (i) then at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of represented by the first layer of such insurance coverage shall Policies must be provided by insurance companies having with a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P (and the equivalent by all other Rating Agencies), with no carrier below “BBB” (and the equivalent by all other Rating Agencies), and a rating of A:X or Fitch and better in the current Best’s Insurance Reports; (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x orshall, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appearappear as the Lender and Mortgagee; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Standard Mortgagee Clause and a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iiiC) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the PropertiesProperty, but in no event in excess of an amount reasonably acceptable to Lender; and (gvii) shall be reasonably satisfactory in form and substance to Lender and shall be reasonably approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. No insurance policy required hereunder shall include any so called “terrorist exclusion” or similar exclusion or exception to insurance coverage relating to the acts of terrorist groups or individuals; provided that, for so long TRIPRA is in effect, Lender shall accept terrorism insurance with coverage against acts which are “certified” within the meaning of TRIPRA. In addition to the insurance coverages described in Section 5.1.15.1.1 above, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interestsinterests provided that Lender is then requiring similar coverage for mortgage loans held by Lender covering property comparable to and in the general vicinity of the Property, but taking into account any unique features of the Property and the Worldwide Plaza Amenities. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx Xxxxxxxx Bank of America Xxxxxxx Xxxxx Global Markets Commercial Real Estate Servicing Group 000 Xxxx Xxxxx Xxxxxx XX0-000-00-00 Xxxxxxxxx, XX 00000 AttentionAttn: Chuckie Xxxxxxx X. Xxxxx Xxxxxxx, Commercial Real Estate Servicing Group Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.36.4 hereof). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practicespractices provided that Lender is then requiring similar coverage for mortgage loans held by Lender covering property comparable to and in the general vicinity of the Property, but taking into account any unique features of the Property and the Worldwide Plaza Amenities.

Insurance Company. All Policies required pursuant to Section 5.1.1 shall (ai) be issued by financially sound and responsible insurance companies authorized to do business in the states where the applicable Properties are located and having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch, provided, however, that if Borrower elects to have its insurance coverage provided by a syndicate of insurers, then, if such syndicate consists of five (5) or more members, (iA) at least sixty percent (60%) of the insurance coverage (or seventy-five percent (75%) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall be provided by insurance companies having a rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-” or better by S&P or Fitch and (iiB) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x or better or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “BBB” or better by S&P or Fitch; (bii) shall, with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (ciii) shall, with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (div) shall, with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (ev) shall contain a waiver of subrogation against Lender; (fvi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (iiB) that Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, and (iiiC) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the Properties, but in no event in excess of an amount reasonably acceptable to Lender; and (gvii) shall be satisfactory in form and substance to Lender and shall be approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. 91 In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance as may from time to time be reasonably required by Lender in order to protect its interests. Certified copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by notice to Borrower) on the date hereof with respect to the current Policies and within thirty (30) days after the effective date thereof with respect to all renewal Policies: JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 000 Xxxxxxx GERMAN AMERICAN CAPITAL CORPORATION 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, Xxx XX 00000 Attn: Xxxx 00000 Attention: Chuckie X. Xxxxx Xxxxxxxx Borrower shall pay the Insurance Premiums annually in advance as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.3). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.

Insurance Company. All Policies required pursuant to Section 5.1.1 5.1.1(a) shall (ai) be issued by financially sound and responsible insurance companies authorized eligible to do business in the states state where the applicable Properties are located Insured Property is located, with a financial strength and having a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P or Fitchand, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers and, in all circumstances, satisfying the Two Agency Rating Test, provided, howeverhowever for multi-layered policies (“Multi-Layered Policies”), that (A) if Borrower elects to have its four (4) or fewer insurance companies issue the Policies, then (x) at least seventy-five percent (75%) of the insurance coverage represented by the Policies (the “75% Coverage”) must be provided by insurance companies with a syndicate claims paying ability rating of insurers, then“A” or better by S&P (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such syndicate consists carriers), with no carriers below “BBB” by S&P (and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers) and (y) all carriers satisfy the Two Agency Rating Test, or (B) if five (5) or more membersinsurance companies issue the Policies, then (ix) at least sixty percent (60%) of the insurance coverage represented by the Policies (or seventy-five percent (75%the “60% Coverage”) if such syndicate consists of four (4) or fewer members) and one hundred (100%) of the first layer of such insurance coverage shall must be provided by insurance companies having with a claims paying ability rating of “A3” or better by Xxxxx’x or, if Xxxxx’x does not provide a rating of an applicable insurance company, a rating of “A-A” or better by S&P or Fitch and (ii) the remaining forty percent (40%) of the insurance coverage (or the remaining twenty-five percent (25%) if such syndicate consists of four (4) or fewer members) shall be provided by insurance companies having a rating of “Baa2” by Xxxxx’x orand, if Xxxxx’x does not provide the Loan is part of a rating of an applicable Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance company, a rating of ratings for such carriers) with no carriers below “BBB” or better by S&P or Fitch(and, if the Loan is part of a Securitization, the equivalent by any other Rating Agency that rates the Securities and actually provides insurance ratings for such carriers) and (y) all carriers satisfy the Two Agency Rating Test; (b) with respect to all property insurance policies, name Lender and its successors and/or assigns as their interest may appear; (c) with respect to all property insurance policies and rental loss and/or business interruption insurance policies, contain a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to whom all payments made by such insurance company shall be paid; (d) with respect to all liability policies, name Lender and its successors and/or assigns as an additional insured; (e) contain a waiver of subrogation against Lender; (fii) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest including endorsements providing (A) that (i) neither Borrower, Lender nor any other party shall be a co-insurer under said Policies, (ii) Lender shall receive at least thirty (30) days prior written notice of any modification, reduction or cancellation, Policies and (iiiB) for a deductible per loss of an amount not more than that which is customarily maintained by prudent owners of properties with a standard of operation and maintenance comparable to and in the general vicinity of the PropertiesInsured Property; and (iii) contain a waiver of subrogation against Lender. Notwithstanding the foregoing, but in no the event in excess of an amount that the insurance required hereunder is maintained through a Multi-Layered Policy, Borrower shall be permitted to maintain the Policies for the coverage required by Section 5.1.1(i) above with insurance companies which do not meet the foregoing requirements through a licensed captive insurance company reasonably acceptable to Lender; Lender which is owned by ALX (an “Otherwise Rated Insurer”), provided Borrower obtains a “cut-through” endorsement (that is, an endorsement which permits recovery against the provider of such endorsement if the insurer becomes insolvent), and (g) be satisfactory reinsurance, in form and substance each case reasonably acceptable to Lender and shall be approved a Rating Agency that rates the Securities with respect to any Otherwise Rated Insurer from an insurance company which meets the claims-paying ability ratings required above or such higher rating (not to exceed A+ by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. In addition to the insurance coverages described in Section 5.1.1, Borrower shall obtain such other insurance S&P) as may from time to time be reasonably required by Lender in order to protect its interestsa Rating Agency. Certified copies Copies of the Policies shall be delivered to Lender at the address below (or to such other address or Person as Lender shall designate from time to time by written notice to Borrower) on the date hereof with respect to the current Policies (or binders to be followed by the Policies to the extent such Policies are newly bound and have not been issued as of the date hereof) and within thirty ten (3010) days Business Days after the effective date receipt and approval by Borrower thereof with respect to all renewal Policies: JPMORGAN CHASE BANKDEUTSCHE BANK AG, NATIONAL ASSOCIATION 000 Xxxxxxx NEW YORK BRANCH 00 Xxxx Xxxxxx, 00xx Xxxxx 00 Xxx Xxxx, XX 00000 Attn: Xxxxx Xxxxxxxx CITIGROUP GLOBAL MARKETS REALTY CORP. 000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx Xxxx, XX 00000 Attention: Chuckie X. Xxxxx Xxx Xxxx Xxxxxxx Borrower shall pay the Insurance Premiums annually in advance full as the same become due and payable and shall furnish to Lender evidence of the renewal of each of the Policies with receipts for the payment of the Insurance Premiums or other evidence of such payment reasonably satisfactory to Lender (provided, however, that Borrower shall not be required to pay such Insurance Premiums nor furnish such evidence of payment to Lender in the event that the amounts required to pay such Insurance Premiums have been deposited into the Insurance Account pursuant to Section 6.36.4 hereof). Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices.