Common use of 17Impracticability Clause in Contracts

17Impracticability. Neither party shall not be required to perform its obligations under this Agreement to the extent the performance (i) becomes impracticable, in any material respect, as a result of a cause or causes outside the reasonable control of the Operating Partnership or Contributor, (ii) would require the either party to violate any applicable laws, rules, or regulations, or (iii) would result in the breach of any agreement or other applicable contract existing on the Execution Date. In the event of non-performance and/or termination pursuant to this Section 8.17, notwithstanding any other provision of this Agreement, the ▇▇▇▇▇▇▇ Money shall be returned to the Operating Partnership in full.

Appears in 2 contracts

Sources: Contribution Agreement (Lodging Fund REIT III, Inc.), Contribution Agreement (Lodging Fund REIT III, Inc.)

17Impracticability. Neither party shall not be required to perform its obligations under this Agreement to the extent the performance (i) becomes impracticable, in any material respect, as a result of a cause or causes outside the reasonable control of the Operating Partnership or Contributorsuch party, (ii) would require the either party to violate any applicable laws, rules, or regulations, or (iii) would result in the breach of any agreement or other applicable contract existing on the Execution Date. In the event of non-performance and/or termination pursuant to this Section 8.17, notwithstanding any other provision of this Agreement, the ▇▇▇▇▇▇▇ Money shall be returned to the Operating Partnership in full.. ​ ​ ​

Appears in 1 contract

Sources: Contribution Agreement (Lodging Fund REIT III, Inc.)

17Impracticability. Neither party shall not be required to perform its obligations under this Agreement to the extent the performance (i) becomes impracticable, in any material respect, as a result of a cause or causes outside the reasonable control of the Operating Partnership or Contributorsuch party, (ii) would require the either party to violate any applicable laws, rules, or regulations, or (iii) would result in the breach of any agreement or other applicable contract existing on the Execution Date. In the event of non-performance and/or termination pursuant to this Section 8.17, notwithstanding any other provision of this Agreement, the ▇▇▇▇▇▇▇ Money shall be returned to the Operating Partnership in full.. ​ ​

Appears in 1 contract

Sources: Contribution Agreement (Lodging Fund REIT III, Inc.)