Common use of Lessee Ownership Limitation Clause in Contracts

Lessee Ownership Limitation. Anything contained in this Lease to the contrary notwithstanding, neither party shall take, or permit to take, any action that would cause the Company to own, directly or indirectly, a 10% or greater interest in the Lessee within the meaning of Section 856(d) (2) (B) of the Code, or any similar or successor provision thereto.

Appears in 10 contracts

Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)

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Lessee Ownership Limitation. Anything contained in this Lease to the contrary notwithstanding, neither party shall take, or permit to take, any action that would cause the Company to own, directly or indirectly, a 10% or greater interest in the Lessee within the meaning of Section 856(d) (2) (B856(d)(2)(B) of the Code, or any similar or successor provision thereto.

Appears in 1 contract

Samples: Lease Agreement (Innkeepers Usa Trust/Fl)

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