“Realty Reserves” shall mean such Reserves as the Administrative Agent from time to time determines in its Permitted Discretion as being appropriate to reflect the impediments to Administrative Agent’s ability to realize upon any Eligible Real Property. Without limiting the generality of the foregoing, Realty Reserves may include (but are not limited to) # Environmental Compliance Reserves, # Reserves for # municipal taxes and assessments that may be required to be repaid in connection with any sale or other disposition of any of such Real Property, # at any time, repairs required to maintain the Real Property at such time and/or to prepare it for a sale or other disposition, # remediation of title defects, and # Reserves for Indebtedness secured by liens that are pari passu with, or have priority over, the lien of the Administrative Agent.

“Real Property Reserves” means such reserves as the Agent from time to time determines in its Permitted Discretion as being appropriate to reflect the impediments to Agent’s ability to realize upon any Eligible Real Property. Without limiting the generality of the foregoing, Real Property Reserves may include (but are not limited to) # Environmental Compliance Reserves, # reserves for # municipal