Common use of Future Property Clause in Contracts

Future Property. In addition, if the Hotel Property is a Future --------------- Property, the following: (i) The addition of the Future Property to the Eligible Property shall not (A) cause the Eligible Property to violate the Pool Requirements, (B) cause a Default, or (C) cause or result in the Borrower failing to comply with any of the financial covenants contained herein; (ii) The Borrower shall have delivered to the Administrative Agent and the Banks the Property Information for such Future Property 20 days prior to the date the Borrower proposes such Future Property qualify as an Eligible Property; (iii) the Majority Banks shall have approved such Future Property as a possible Eligible Property and reached agreement with the Borrower as to the Required Work for such Future Property, if any; and (iv) within one hundred eighty (180) days of the date such Future Property initially qualifies as an Eligible Property the Majority Banks shall have approved the Approved Preliminary Property Plan for such Future Property.

Future Property. In addition, if the Hotel Property is a Future --------------- Property, --------------- the following: (i) The addition of the Future Property to the Eligible Property shall not (A) cause the Eligible Property to violate the Pool Requirements, (B) cause a Default, or (C) cause or result in the Borrower failing to comply with any of the financial covenants contained herein; (ii) The Borrower shall have delivered to the Administrative Agent and the Banks the Property Information for such Future Property 20 days prior to the date the Borrower proposes such Future Property qualify as an Eligible Property; (iii) the Majority Banks shall have approved such Future Property as a possible Eligible Property and reached agreement with the Borrower as to the Required Work for such Future Property, if any; and (iv) within one hundred eighty (180) days of the date such Future Property initially qualifies as an Eligible Property the Majority Banks shall have approved the Approved Preliminary Property Plan for such Future Property.