LEASE OF THE PROPERTY LOCATIONS AS A SINGLE, UNSEVERABLE
INSTRUMENT PERTAINING TO THE LEASE OF ALL, BUT NOT LESS THAN ALL, OF THE
PROPERTY LOCATIONS, (B) EXCEPT AS MAY BE REQUIRED BY LAWS OR A GOVERNMENTAL
AUTHORITY (IT BEING UNDERSTOOD THAT TENANT AND LANDLORD EACH AGREE THAT, EXCEPT
AS INDICATED IN SECTION 29.01(B), UNDER CURRENT U.S. FEDERAL INCOME TAX LAW,
THIS LEASE IS A "TRUE LEASE"), NOT TO ASSERT OR TAKE, OR OMIT TO TAKE, ANY
ACTION IF SUCH OMISSION WOULD BE INCONSISTENT WITH THE AGREEMENTS AND
UNDERSTANDINGS SET FORTH IN THIS ARTICLE 29, AND (C) THAT, IN THE EVENT THAT ITS
SEPARATE EXISTENCE FROM ANOTHER PERSON IS DISREGARDED FOR U.S. FEDERAL INCOME
TAX PURPOSES, IT SHALL NOT PERMIT SUCH PERSON TO ASSERT OR TAKE ANY ACTION, OR
OMIT TO TAKE ANY ACTION IF SUCH OMISSION WOULD BE, INCONSISTENT WITH THE
AGREEMENTS AND UNDERSTANDINGS SET FORTH IN THIS ARTICLE 29 (DETERMINED AS THOUGH
SUCH PERSON HAD BEEN A PARTY HERETO).
ARTICLE 30.
RESERVES
30.01
RESERVES. UPON THE OCCURRENCE OF A RESERVE EVENT (AS DEFINED BELOW),
LANDLORD MAY REQUIRE TENANT TO PAY TO LANDLORD ON THE DAY THAT MONTHLY BASE RENT
IS NEXT DUE DURING THE TERM AN AMOUNT EQUAL TO THE IMPOSITIONS (THE "IMPOSITIONS
RESERVE"), PREMIUMS FOR INSURANCE REQUIRED UNDER ARTICLE 6 (THE "INSURANCE
RESERVE"), FIXED AND BASIC RENTS (THE "OVERLEASE RENTS") TO BE MADE PURSUANT TO
THE OVERLEASES (THE "OVERLEASE RESERVE") AND/OR MAINTENANCE EXPENSES
("MAINTENANCE EXPENSES") FOR THE PREMISES (IN AN AMOUNT EQUAL TO $0.20 PER NET
RENTABLE SQUARE FOOT OF THE PREMISES) (THE "MAINTENANCE RESERVE"; THE
IMPOSITIONS RESERVE, THE INSURANCE RESERVE, THE OVERLEASE RESERVE AND/OR THE
MAINTENANCE RESERVE ARE EACH A "RESERVE" AND COLLECTIVELY, THE "RESERVES") THAT
LANDLORD REASONABLY ESTIMATES WILL BE NECESSARY IN ORDER TO ACCUMULATE WITH
LANDLORD SUFFICIENT FUNDS TO PAY SUCH IMPOSITIONS, INSURANCE PREMIUMS, OVERLEASE
RENTS AND MAINTENANCE EXPENSES AS APPLICABLE FOR THE EARLIER OF (A) THE ENSUING
TWELVE (12) MONTHS, OR (B) AT LEAST THIRTY (30) DAYS PRIOR TO THEIR RESPECTIVE
DUE DATES. LANDLORD SHALL HOLD OR CAUSE THE MORTGAGEE TO HOLD THE AMOUNT FOR
EACH RESERVE REQUIRED HEREUNDER IN AN INTEREST-BEARING ACCOUNT WHICH INTEREST
THEREON SHALL ACCRUE FOR THE BENEFIT OF TENANT (WHICH MAY BE A BOOK ENTRY
SUBACCOUNT) (EACH, A "RESERVE SUBACCOUNT ACCOUNT", AND COLLECTIVELY, THE
"RESERVE SUBACCOUNTS"). LANDLORD SHALL HAVE THE RIGHT TO COLLECT RESERVES ON AN
ANNUAL BASIS UNTIL THE OCCURRENCE OF A RESERVE REVERSAL EVENT (DEFINED IN
SECTION 30.06 (G) BELOW).
49
30.02
SATISFACTION OF TENANT'S OBLIGATIONS. ANY RESERVE PAYMENTS MADE
BY TENANT PURSUANT TO SECTION 30.01 FOR IMPOSITIONS, MAINTENANCE EXPENSES,
OVERLEASE RENTS AND INSURANCE PREMIUMS SHALL SATISFY TENANT'S OBLIGATIONS TO PAY
IMPOSITIONS, OVERLEASE RENTS AND MAINTENANCE EXPENSES AND TO PAY FOR AND
MAINTAIN INSURANCE UNDER THIS LEASE FOR THE APPLICABLE TWELVE (12) MONTH PERIOD.
LANDLORD SHALL TIMELY PAY OR CAUSE TO BE PAID SUCH IMPOSITIONS, OVERLEASE RENTS
AND INSURANCE PREMIUMS OR MAKE SUCH RESERVES AVAILABLE TO TENANT TO TIMELY PAY
SUCH IMPOSITIONS, OVERLEASE RENTS AND INSURANCE PREMIUMS.
30.03
RESERVE PERIOD; MAINTENANCE EXPENSES. DURING A RESERVE PERIOD (AS