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of the Restrictive Covenants are subject to the rights of any third parties, by way of subrogation, indemnification or otherwise. (b) Without the prior written consent of' the Senior Mortgagee in each instance, the Agency shall not (i) amend, modify, waive, extend, renew or replace any provision of Restrictive Covenants, or (ii) pledge, assign. transfer, convey, or sell any interest in the Restrictive Covenants; or (iii) appear in. defend or bring any action to protect the Agency's interest in the Mortgaged Property, or (iv) take any action concerning environmental matters affecting the Mortgaged Property. (c) The Agency shall deliver to the Senior Mortgagee a copy of each notice received or delivered by the Agency pursuant to the Restrictive Covenants simultaneously with the Agency's delivery or receipt of such notice. The Senior Mortgagee shall deliver to the Agency a copy of each notice of a Senior Mortgage Default delivered by the Senior Mortgagee, simultaneously with the Senior Mortgagee's delivery of such notice. Neither giving nor failing to give a notice to the Senior Mortgagee or Agency pursuant to this Section 3(c) shall affect the validity of any notice given by the Senior Mortgagee or Agency to the Borrower, as between the Borrower and such of the Senior Mortgagee or the Agency as provided the notice to the Borrower. (d) Without the prior written consent of the Senior Mortgagee in each instance. the Agency will not commence, or join with any other creditor in commencing, any Bankruptcy Proceeding. In the event of a Bankruptcy Proceeding, the Agency shall not vote affirmatively in favor of any plan of reorganization or liquidation unless the Senior Mortgagee has also voted affirmatively in favor of such plan. In the event of any Bankruptcy Proceeding, the Agency shall not contest the continued accrual of interest on the Senior Indebtedness, in accordance with and at the rates specified in the Senior Loan Documents, both for periods before and for periods after the commencement of such • Bankruptcy Proceedings. (e) Whenever the Restrictive Covenants give the Agency approval or consent rights with respect to any matter. and a right of approval or consent with regard to the same or substantially the same matter is also granted to the Senior Mortgagee pursuant to the Senior Loan Documents or otherwise, the Senior Mortgagee's approval or consent or failure to approve or consent, as the case may be, shall be binding on the Agency. None of the other provisions of this Section 3 are intended to be in any way in limitation of the provisions of this Section 3(e). (f) Within ten (10) days after request by the Senior Mortgagee, the Agency shall furnish the Senior Mortgagee with a statement, duly acknowledged and certified that there exists no default under the Restrictive Covenants (or describing any default that does exist), and such other information with respect to the Restrictive Covenants as the Senior Mortgagee may request. (g) The Senior Mortgagee may waive, postpone, extend, reduce or otherwise modify any provisions of the Senior Loan Documents without the necessity of obtaining the consent of or providing notice to the Agency, and without affecting any of the provisions of this Agreement. Notwithstanding the forgoing, Senior Mortgagee may not modify any provisions of the Senior Loan Documents that increases the Senior Indebtedness, except for increases in the Senior Indebtedness that result from advances made by Senior Mortgagee to protect the security or lien priority of Senior Mortgagee under the Senior Loan Documents or to cure defaults under the Restrictive Covenants. 4. DEFAULT UNDER LOAN DOCUMENTS. 4