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Section 4, shall not be applied or otherwise credited against the Subordinate Loan, nor shall the tender of such payment to the Senior Lender waive any Subordinate Loan Default which may arise from the inability of the Subordinate Lender to retain such payment or apply such payment to the Subordinate Loan. (f) Agreement Not to Commence Bankruptcy Proceeding, The Subordinate Lender agrees that during the term of this Agreement it will not commence, or join with any other creditor in commencing any bankruptcy reorganization, arrangement, insolvency or liquidation proceedings with respect to the Borrower, without the Senior Lender's prior written consent. (g) Borrower's Equity Interests. (i) Notwithstanding any provisions of the Subordinate Loan Documents to the contrary, (A) the required debt service on the Subordinate Loan shall not, in any event, exceed 75% of the Property's Excess Cash Flow and (B) the Subordinate Lender's right and interest in and to the Borrower's equity in the Property in the event of a sale or other transfer (other than through foreclosure or deed -in -lieu of foreclosure), after the payment of the Senior Loan, all other accounts (other than the Subordinate Loan) required to be satisfied in connection with such sale or transfer, shall not exceed 75%. For purposes of this subsection, debt service on the Subordinate Loan and Excess Cash Flow will be measured monthly, whether or not such debt service is actually payable monthly. (ii) As used herein, the term "Excess Cash Flow" means, for any period. the net cash flow of the Borrower available for distribution to shareholders, members or partners (as the case may be) for such period, after the payment of all interest expense, the amortization of all principal of all indebtedness coming due during such period (whether by maturity, mandatory sinking fund payment, acceleration or otherwise), the payment of all fees, costs and expenses on an occasional or recurring basis in connection with the Loan or the Bonds, the payment of all operating, overhead, ownership and other expenditures of the Borrower directly or indirectly in connection with the Property (whether any such expenditures are current, capital or extraordinary expenditures), and the setting aside of all reserves for taxes, insurance, water and sewer charges or other similar impositions, capital expenditures, repairs and replacements and all other amounts which the Borrower is required to set aside pursuant to the Loan Documents or otherwise in connection with the Bonds, but excluding depreciation and amortization of intangibles. (iii) Borrower and Subordinate Lender shall cause to be delivered to Senior Lender such documentation and information, including, without limitation, income and expense statements for the Property, as shall be reasonably required from time to time by Senior Lender to confirm Subordinate Lender's compliance with the provisions of this Section. REV: 06-24-2020 PR ATTY/AGR.2020.105/353 Main Street Apartments, LP & Citibank, N.A. (Page 7 of 18)