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200507874
<br />"Pad Owners" shall mean any owner of any fee interest in property contiguous to or surrounded by the
<br />Property who has entered into or is subject to a reciprocal easement agreement or other agreement or agreements
<br />with Borrower either (a) in connection with an existing or potential improvement on such property or (b) relating to
<br />or affecting the Property.
<br />"Payment Date" shall mean, with respect to each month, the first (1 st) calendar day in such month, or if
<br />such day is not a Business Day, the next following Business Day.
<br />thereto.
<br />"PBGC" shall mean the Pension Benefit Guaranty Corporation established under ERISA, or any successor
<br />"Permitted Encumbrances" shall have the meaning set forth in Section 2.05(a) hereof.
<br />"Person" shall mean any individual, corporation, limited liability company, partnership, joint venture,
<br />estate, trust, unincorporated association, any federal, state, county or municipal government or any bureau,
<br />department or agency thereof and any fiduciary acting in such capacity on behalf of any of the foregoing.
<br />"Plan" shall mean an employee benefit or other plan established or maintained by Borrower, Guarantor or
<br />any ERISA Affiliate during the five -year period ended prior to the date of this Security Instrument or to which
<br />Borrower, Guarantor or any ERISA Affiliatc makes, is obligated to make or has, within the five year period ended
<br />prior to the date of this Security Instrument, been required to make contributions (whether or not covered by Title IV
<br />of ERISA or Section 302 of ERISA or Section 401(a) or 412 of the Code), other than a Multiemployer Plan.
<br />"Premises" shall have the meaning set forth in granting clause (a) of this Security Instrument.
<br />"Principal Amount" shall mean the Loan Amount as such amount may be reduced from time to time
<br />pursuant to the terms of this Security Instrument, the Note or the other Loan Documents.
<br />"Principal Payments" shall mean all payments of principal made pursuant to the terms of the Note.
<br />"Prohibited Person" means any Person identified on the OFAC List or any other Person or foreign country
<br />or agency thereof with whom a U.S. Person may not conduct business or transactions by prohibition of Federal law
<br />or Executive Order of the President of the United States of America.
<br />"Pro e " shall have the meaning set forth in the granting clauses of this Security Instrument.
<br />"Property Agreements" shall mean all agreements, grants of easements and/or rights -of -way, reciprocal
<br />easement agreements, permits, declarations of covenants, conditions and restrictions, disposition and development
<br />agreements, planned unit development agreements, management or parking agreements, party wall agreements or
<br />other instruments affecting the Property, including, without limitation any agreements with Pad Owners, but not
<br />including any brokerage agreements, management agreements, service contracts, Space Leases or the Loan
<br />Documents.
<br />"Rating Agency' shall mean each of Standard & Poor's Ratings Services, Inc., a division of The McGraw -
<br />Hill Company, Inc. ( "Standard & Poor's "), Fitch, Inc., and Moody's Investors Service, Inc. ( "Moody's '), and any
<br />successor to any of them; provided, however, that at any time after a Securitization, "Rating Agency" shall mean
<br />those of the foregoing rating agencies that from time to time rate the securities issued in connection with such
<br />Securitization.
<br />"Realty' shall have the meaning set forth in Section 2.05(b) hereof.
<br />"Recurring Replacement Exmenditures" shall mean expenditures related to capital repairs, replacements and
<br />improvements performed at the Property from time to time.
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