200111898 - Laserfiche WebLink

Browse

-13 - 200111898 Materials from any of the Properties, excluding any such Release or threatened Release that shall occur during any period when the Beneficiary, the Trustee or any of the Lenders or the Swingline Lenders shall be in possession of any of the Properties following the exercise by the Beneficiary or the Trustee of any of its rights and remedies hereunder, but including any such Release or threatened Release occurring during such period that is a continuation of conditions previously in existence, or of practices employed by the Trustor, at any of the Properties. Section 1.09. Inspection of the Properties. The Trustor shall keep adequate records and books of account in accordance with generally accepted accounting principles consistently applied and shall permit the Trustee, the Beneficiary and their authorized representatives to enter and inspect the Properties, to examine the records and books of account of the Trustor with respect thereto and make copies or extracts thereof, all at such reasonable times as may be requested by the Beneficiary or the Trustee. Section 1.10. Actions to Protect Trust Estate. If the Trustor shall fail to (a) effect the insurance required by Section 1.05, (b) make the payments required by Section 1.06 or (c) perform or observe any of its other covenants or agreements hereunder, the Beneficiary may, without obligation to do so, and upon notice to the Trustor (except in an emergency) effect or pay the same. To the maximum extent permitted by law, all sums, including reasonable attorneys' fees and disbursements, so expended or expended to sustain the Lien or estate of this Deed of Trust or its priority, or to protect or enforce any of the rights hereunder, or to recover any of the Obligations, shall be a Lien on the Trust Estate, shall be deemed to be added to the Obligations secured hereby, and shall be paid by the Trustor within 10 days after demand therefor, together with interest thereon at the default rate provided in Section 2.10(c) of the Credit Agreement. Section 1.11. Insurance and Condemnation Proceeds. Any Casualty or Condemnation Proceeds, shall, as provided in Section 1.05, be held by the Beneficiary in the Restoration Account and any interest or other amounts, if any, actually earned on the balance held by the Beneficiary in the Restoration Account shall be credited to the Restoration Account, for the benefit of the Trustor. So long as no Default shall have occurred and be continuing, at the written request of the Trustor, any monies held in the Restoration Account shall be invested or reinvested in such Liquid Investments as the Trustor shall from time to time specify. Such Liquid Investments shall be held by the Beneficiary pursuant to this Section 1.11; but, upon request of the Trustor, the Beneficiary shall sell all or any designated part of the same and the proceeds of such sal4i6shall be held by the Beneficiary in the Restoration Account subject to the provisions hereof in the same manner as the cash used by it to purchase the Liquid Investments so sold. The Trustor agrees to pay the Beneficiary, on demand, amounts equal to any loss resulting from any investment or reinvestment pursuant to this Section 1.11 (and any such payments made by the Trustor shall be deposited by the Beneficiary into the Restoration Deed of Trust NY I : #3303402v2