IN THE SYNDICATE) OF THE AGGREGATE LIMITS
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UNDER SUCH POLICIES MUST BE PROVIDED BY CARRIERS WITH A MINIMUM FINANCIAL
STRENGTH RATING FROM S&P OF "A" OR BETTER AND (III) THE FINANCIAL STRENGTH
RATING FROM S&P FOR EACH CARRIER IN THE SYNDICATE SHALL HAVE A FINANCIAL
STRENGTH RATING FROM S&P OF AT LEAST "BBB"(EACH SUCH INSURER SHALL BE REFERRED
TO BELOW AS A "QUALIFIED INSURER").
BORROWER WILL BE REQUIRED TO MAINTAIN
INSURANCE AGAINST TERRORISM, TERRORIST ACTS OR SIMILAR ACTS OF SABOTAGE
("TERRORISM INSURANCE") WITH COVERAGE AMOUNTS OF NOT LESS THAN TWO HUNDRED
MILLION AND 00/100 DOLLARS ($200,000,000.00) (THE "TERRORISM INSURANCE REQUIRED
AMOUNT").
NOTWITHSTANDING THE FOREGOING SENTENCE, BORROWER SHALL NOT BE
OBLIGATED TO EXPEND MORE THAN $150,000.00 IN ANY FISCAL YEAR ON INSURANCE
PREMIUMS FOR TERRORISM INSURANCE (THE "TERRORISM INSURANCE CAP"), INCREASED
ANNUALLY BASED ON INCREASES IN THE CPI INDEX, AND IF THE COST OF THE TERRORISM
INSURANCE REQUIRED AMOUNT EXCEEDS THE TERRORISM INSURANCE CAP, BORROWER SHALL
PURCHASE THE MAXIMUM AMOUNT OF TERRORISM INSURANCE AVAILABLE WITH FUNDS EQUAL TO
THE TERRORISM INSURANCE CAP.
NOT LESS THAN THIRTY (30) DAYS PRIOR TO THE
EXPIRATION DATES OF THE POLICIES THERETOFORE FURNISHED TO LENDER PURSUANT TO
SECTION 6.1(A), BORROWER SHALL DELIVER CERTIFIED COPIES OF INSURANCE
CERTIFICATES OR BINDERS MARKED "PREMIUM PAID" OR ACCOMPANIED BY EVIDENCE
SATISFACTORY TO LENDER OF PAYMENT OF THE PREMIUMS DUE THEREUNDER (THE "INSURANCE
PREMIUMS").
(C)
INTENTIONALLY OMITTED.
(D)
ALL POLICIES PROVIDED FOR OR CONTEMPLATED BY SECTION 6.1(A)
HEREOF, EXCEPT FOR THE POLICY REFERENCED IN SECTION 6.1(A)(V), SHALL NAME LENDER
AND BORROWER AS THE INSURED OR ADDITIONAL INSURED, AS THEIR RESPECTIVE INTERESTS
MAY APPEAR, AND IN THE CASE OF PROPERTY DAMAGE, BOILER AND MACHINERY, AND FLOOD
INSURANCE, SHALL CONTAIN A SO-CALLED NEW YORK STANDARD NON-CONTRIBUTING
MORTGAGEE CLAUSE IN FAVOR OF LENDER PROVIDING THAT THE LOSS THEREUNDER SHALL BE
PAYABLE TO LENDER AS THEIR INTERESTS MAY APPEAR.
(E)
ALL POLICIES PROVIDED FOR IN SECTION 6.1(A) HEREOF SHALL CONTAIN
CLAUSES OR ENDORSEMENTS TO THE EFFECT THAT:
(I)
NO ACT OR NEGLIGENCE OF BORROWER, ANY TENANT, OR ANYONE ACTING
FOR BORROWER OR SUCH TENANT, OR FAILURE TO COMPLY WITH THE PROVISIONS OF ANY
POLICY WHICH MIGHT OTHERWISE RESULT IN A FORFEITURE OF THE INSURANCE OR ANY PART
THEREOF, SHALL IN ANY WAY AFFECT THE VALIDITY OR ENFORCEABILITY OF THE INSURANCE
INSOFAR AS LENDER IS CONCERNED;
(II)
THE POLICY SHALL NOT BE MATERIALLY CHANGED (OTHER THAN TO
INCREASE THE COVERAGE PROVIDED THEREBY) OR CANCELLED WITHOUT AT LEAST TEN (10)
DAYS' WRITTEN NOTICE TO LENDER AND ANY OTHER PARTY NAMED THEREIN AS AN INSURED;
(III)
EACH POLICY SHALL PROVIDE THAT THE ISSUERS THEREOF SHALL GIVE
WRITTEN NOTICE TO LENDER IF THE POLICY HAS NOT BEEN RENEWED TEN (10) DAYS PRIOR
TO ITS EXPIRATION; AND
(IV)
LENDER SHALL NOT BE LIABLE FOR ANY INSURANCE PREMIUMS THEREON
OR SUBJECT TO ANY ASSESSMENTS THEREUNDER.
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(F)
UPON LENDER'S REQUEST, BORROWER SHALL FURNISH TO LENDER, ON OR
BEFORE THIRTY (30) DAYS AFTER THE CLOSE OF EACH OF BORROWER'S FISCAL YEARS OR IF
DIFFERENT, THE TENANT'S FISCAL YEAR, A