Distributions, Payments to Affiliated Persons, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions or any payment to any Affiliated Person of Tenant (other than payments in the ordinary course of business on commercially reasonable terms and payments pursuant to the terms of the Franchise Agreement) or set apart any sum or property therefor, or agree to do so, if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default shall exist; provided, however, that Tenant may resume making such Distributions if Landlord shall not commence, within ninety (90) days after Notice by Landlord to Tenant of the occurrence of any such Event of Default, to enforce its rights and remedies with respect thereto and diligently pursue enforcement of such rights and remedies thereafter.
Appears in 5 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust), Agreement to Lease (Hospitality Properties Trust)
