AN INDEMNIFIED PARTY IS THEN ENTITLED UNDER
THIS AGREEMENT;
(IV)
THE FOLLOWING INFORMATION WITH RESPECT TO THE
PRINCIPAL INDEBTEDNESS IN A FORMAT REASONABLY ACCEPTABLE TO AGENT:
(1) THE
PRINCIPAL INDEBTEDNESS AS OF THE PRECEDING PAYMENT DATE, (2) ANY PRINCIPAL
PAYABLE TO THE LENDERS PURSUANT TO
46
SECTIONS 3.6, 3.7 OR 3.12 ON SUCH PAYMENT DATE, AND (3) THE PRINCIPAL
INDEBTEDNESS ON THE CURRENT PAYMENT DATE (TAKING INTO ACCOUNT SUCH PAYMENTS);
AND
(V)
THE AMOUNT WITHDRAWN FROM OR REMITTED TO
EACH ACCOUNT OF THE RESERVE ACCOUNT IN ACCORDANCE WITH SECTIONS 3.12 AND 3.13
AND THE AMOUNT REMITTED TO THE BORROWER.
(E)
LOSS PROCEEDS.
IN THE EVENT OF A CASUALTY
OR TAKING WITH RESPECT TO THE PROPERTY, UNLESS PURSUANT TO SECTION 5.1(X) OF
THIS AGREEMENT OR APPLICABLE LAW, THE LOSS PROCEEDS ARE TO BE MADE AVAILABLE TO
BORROWER FOR RESTORATION OR TO THE TENANTS, ALL OF BORROWER'S INTEREST IN LOSS
PROCEEDS SHALL BE PAID DIRECTLY TO THE COLLECTION ACCOUNT TO SATISFY THE
REQUIREMENTS OF SECTION 3.7(B). IF THE LOSS PROCEEDS ARE TO BE MADE AVAILABLE
FOR RESTORATION PURSUANT TO THIS AGREEMENT OR TO THE TENANTS PURSUANT TO
APPLICABLE LAW, SUCH LOSS PROCEEDS SHALL BE HELD BY THE COLLATERAL AGENT IN A
SEGREGATED INTEREST-BEARING ELIGIBLE ACCOUNT IN THE NAME OF THE COLLATERAL AGENT
ON BEHALF OF THE LENDERS TO BE OPENED BY THE COLLATERAL AGENT WITHIN THREE
(3) BUSINESS DAYS AFTER THE COLLATERAL AGENT RECEIVES WRITTEN NOTICE OF THE
NECESSITY THEREFOR FROM THE AGENT, TO BE WITHDRAWN BY THE COLLATERAL AGENT AND
HELD UNINVESTED IN A LASALLE BANK NATIONAL ASSOCIATION ACCOUNT FROM THE BUSINESS
DAY IMMEDIATELY PRECEDING THE DATE UPON WHICH PAYMENT TO BORROWER OR TO THE
TENANTS IS TO BE MADE TO SUCH PAYMENT DATE FOR DELIVERY TO BORROWER OR TO THE
TENANTS FROM TIME TO TIME TO PAY RESTORATION COSTS PURSUANT TO A SCHEDULE
REASONABLY ACCEPTABLE TO AGENT AND BORROWER. FUNDS ON DEPOSIT IN ANY SUCH
ACCOUNT OPENED BY THE COLLATERAL AGENT SHALL BE INVESTED IN PERMITTED
INVESTMENTS IN THE SAME MANNER AND SUBJECT TO THE SAME RESTRICTIONS AS SET FORTH
IN SECTION 3.12(C) WITH RESPECT TO THE COLLECTION ACCOUNT (EXCEPT THAT THE
MATURITY SHALL BE NOT LATER THAN AS NECESSARY TO SATISFY THE SCHEDULE REFERRED
TO IN THE PRECEDING SENTENCE). IF ANY LOSS PROCEEDS ARE RECEIVED BY BORROWER,
SUCH LOSS PROCEEDS SHALL BE RECEIVED IN TRUST FOR THE LENDERS, SHALL BE
SEGREGATED FROM OTHER FUNDS OF BORROWER, AND SHALL BE FORTHWITH PAID TO
COLLATERAL AGENT TO THE EXTENT NECESSARY TO COMPLY WITH THIS AGREEMENT.
(F)
COLLATERAL AGENT'S RELIANCE.
COLLATERAL
AGENT MAY RELY AND SHALL BE PROTECTED IN ACTING OR REFRAINING FROM ACTING UPON
ANY WRITTEN NOTICE, INSTRUCTION OR REQUEST FURNISHED TO IT HEREUNDER AND
REASONABLY BELIEVED BY IT TO BE GENUINE AND TO HAVE BEEN SIGNED OR PRESENTED BY
THE PROPER PARTY OR PARTIES. COLLATERAL AGENT MAY RELY ON WRITTEN NOTICE FROM
AGENT AS TO THE OCCURRENCE AND CONTINUANCE OF AN EVENT OF DEFAULT, WITHOUT
FURTHER WRITTEN NOTICE BY THE LENDERS TO THE CONTRARY.
SECTION 3.13.
RESERVE ACCOUNT.
(A)