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6.A. - Page 9 of 24 <br />(c) Payments Before Senior Loan Default. Until the Subordinate Lender <br />receives a Default Notice of a Senior Loan Default from the Senior Lender, the Subordinate <br />Lender shall be entitled to retain for its own account all payments made under or pursuant to <br />the Subordinate Loan Documents. <br />(d) Payments After Senior Loan Default. The Borrower agrees that, after <br />it receives notice (or otherwise acquires knowledge) of a Senior Loan Default, it will not make <br />any payments under or pursuant to the Subordinate Loan Documents (including but not limited <br />to principal, interest, additional interest, late payment charges, default interest, attorney's fees, or <br />any other sums secured by the Subordinate Security Instrument) without the Senior Lender's <br />prior written consent. The Subordinate Lender agrees that, after it receives a Default Notice from <br />the Senior Lender with written instructions directing the Subordinate Lender not to accept <br />payments from the Borrower on account of the Subordinate Loan, it will not accept any <br />payments under or pursuant to the Subordinate Loan Documents (including but not limited <br />to principal, interest, additional interest, late payment charges, default interest, attorney's <br />fees, or any other sums secured by the Subordinate Security Instrument) without the Senior <br />Lender's prior written consent. If the Subordinate Lender receives written notice from the <br />Senior Lender that the Senior Loan Default which gave rise to the Subordinate Lender's <br />obligation not to accept payments has been cured, waived, or otherwise suspended by the <br />Senior Lender, the restrictions on payment to the Subordinate Lender in this Section 4 shall <br />terminate, and the Senior Lender shall have no right to any subsequent payments made to <br />the Subordinate Lender by the Borrower prior to the Subordinate Lender's receipt of a new <br />Default Notice from the Senior Lender in accordance with the provisions of this Section <br />4(d). <br />(e) Remitting Subordinate Loan Payments to Senior Lender. If, after <br />the Subordinate Lender receives a Default Notice from the Senior Lender in accordance with <br />subsection (d) above, the Subordinate Lender receives any payments under the Subordinate <br />Loan Documents, the Subordinate Lender agrees that such payment or other distribution <br />will be received and held in trust for the Senior Lender and unless the Senior Lender <br />otherwise notifies the Subordinate Lender in writing, will be promptly remitted, in kind, to <br />the Senior Lender, properly endorsed to the Senior Lender, to be applied to the principal <br />of, interest on and other amounts due under the Senior Loan Documents in accordance <br />with the provisions of the Senior Loan Documents. By executing this Agreement, the <br />Borrower specifically authorizes the Subordinate Lender to endorse and remit any such <br />payments to the Senior Lender and specifically waives any and all rights to have such <br />payments returned to the Borrower or credited against the Subordinate Loan. Borrower and <br />Senior Lender acknowledge and agree that payments received by the Subordinate Lender, <br />and remitted to the Senior Lender under this Section 4, shall not be applied or otherwise <br />credited against the Subordinate Loan, nor shall the tender of such payment to the Senior <br />Lender waive any Subordinate Loan Default which may arise from the inability of the <br />Subordinate Lender to retain such payment or apply such payment to the Subordinate <br />Loan. <br />(I) Agreement Not to Commence Bankruptcy Proceeding. The <br />Subordinate Lender agrees that during the term of this Agreement it will not commence, or <br />join with any other creditor in commencing any bankruptcy reorganization, arrangement, <br />REV: 12-06-18 VR <br />Page 6 of 21 <br />ATTY/AGR.2018.2741KDF Hallmark 15 <br />