Protective Advances

Protective Advances. Shall mean any advances, costs, expenses, liabilities or other obligations made or incurred by the Agent or the Senior Lienholders after the occurrence and during the continuance of a Senior Lienholders Event of Default to manage, operate, evaluate, insure, appraise, preserve, protect, handle, store, transport, sell or otherwise dispose of any of the Collateral in an aggregate amount outstanding at any time not to exceed $1.0 million.

Protective Advances. Any and all sums advanced or expended by Administrative Agent (whether deemed optional or obligatory advances, or otherwise) which Administrative Agent deems necessary or appropriate (a) to repair, maintain, remediate or otherwise protect the Property or to prevent waste or destruction or to pay or prevent liens or to defend Borrower's title or the lien priority of the Mortgage, (b) to pay taxes, assessments or insurance premiums in respect of the Property or to otherwise protect security... interest of the Banks in the Property and any other collateral for the Bank Loan Obligations, or (c) in connection with Administrative Agent's review, protection or exercise of its rights or remedies under the Bank Loan Documents. View More

Protective Advances. All sums advanced for the purpose of payment of real estate taxes (including special payments in lieu of real estate taxes), personal property taxes (including special payments in lieu of personal property taxes), maintenance costs, insurance premiums, other items (including capital items) reasonably necessary to protect the Collateral from forfeiture, casualty, loss or waste.