Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.
Operating Lessee means, individually or collectively, as the context so requires, the operating lessees as further described on Schedule V attached hereto.
Operating Lessee means, individually or collectively, as the context may require, any operating lessee under an Operating Lease, which is an Affiliate of the Borrowers and which is a Special Purpose Entity, provided that such operating lessee shall be selected in accordance with the terms hereof. As of the date hereof, the Operating Lessee is Ashford TRS Lessee I LLC, a Delaware limited liability company, the current operating lessee of each Individual Property, and an Affiliate of the Borrowers.
Examples of Operating Lessee in a sentence
Xxxxxxx Title: Managing Director Philadelphia Marriott – Agreement Between Note Holders EXHIBIT A MORTGAGE LOAN SCHEDULE Description of Mortgage Loan Mortgage Loan Borrower: Philadelphia Market Street HMC Hotel Limited Partnership and Philadelphia Market Street Marriott Hotel II Limited Partnership Operating Lessee CCMH Philadelphia Mkt.
More Definitions of Operating Lessee
Operating Lessee and together with Mortgage Borrower, collectively the “Borrower Parties” and individually a “Borrower Party”), leases and operates the Property pursuant to that certain Lease Agreement dated as of [ ] (as amended, the “Operating Lease”), by and between Mortgage Borrower and Operating Lessee.
Operating Lessee shall have the meaning set forth in the Mortgage Loan Agreement.
Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Company that leases such Hotel Property from a Subsidiary of the Company that is the owner or ground lessee of such Hotel Property.
Operating Lessee means collectively those lessees party to the Operating Leases or other Leases from time to time.
Operating Lessee means a wholly-owned subsidiary ---------------- of Seller as tenant, of an Operating Lease(s); which is a single-purpose entity with the sole purpose of leasing, managing, maintaining, operating and performing other related functions for the Hotel.