Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to such Asset in form and substance satisfactory to the Administrative Agent. The Lenders acknowledge that the Management Agreements in effect as of the date hereof are satisfactory.
Appears in 7 contracts
Samples: Credit Agreement (Hersha Hospitality Trust), Credit Agreement (Hersha Hospitality Trust), Term Loan Agreement (Hersha Hospitality Trust)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to such Asset in form and substance satisfactory to the Administrative Agent. The Lenders acknowledge that the Management Agreements in effect as of the date hereof are satisfactory.
Appears in 3 contracts
Samples: Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to such Asset in form and substance satisfactory to or any other property manager approved by the Administrative Agent. The Lenders acknowledge that Agent pursuant to a Management Agreement approved by the Management Agreements in effect as of the date hereof are satisfactoryRequired Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has (i) entered into a management agreement with respect to such Asset in form and substance satisfactory to the Administrative Agent. The Lenders acknowledge that , and (ii) executed and delivered a management agreement subordination agreement in form and substance satisfactory to the Management Agreements in effect as of the date hereof are satisfactoryAdministrative Agent.
Appears in 2 contracts
Samples: Credit Agreement (Campus Crest Communities, Inc.), Security Agreement (Campus Crest Communities, Inc.)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has (i) entered into a management agreement with respect to such Asset in form and substance reasonably satisfactory to the Administrative Agent, and (ii) executed and delivered a management agreement subordination agreement in form and substance reasonably satisfactory to the Administrative Agent. The Lenders Lender Parties acknowledge that the Management Agreements in effect as of the date hereof are satisfactory.
Appears in 2 contracts
Samples: Credit Agreement (Five Star Senior Living Inc.), Credit Agreement (Five Star Quality Care, Inc.)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has (i) entered into a management agreement with respect to such Asset in form and substance reasonably satisfactory to the Administrative Agent, and (ii) executed and delivered a management agreement subordination agreement in form and substance reasonably satisfactory to the Administrative Agent. The Lenders Lender Parties acknowledge that the Management Agreements Agreement in effect as of the date hereof are is satisfactory.
Appears in 2 contracts
Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to 79 such Asset in form and substance satisfactory to the Administrative Agent. The Lenders Lender Parties acknowledge that the Management Agreements Agreement in effect as of the date hereof are is satisfactory.
Appears in 1 contract
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to such Asset in form and substance satisfactory to the Administrative Agent. The Lender PartiesThe Lenders acknowledge that the Management Agreements AgreementAgreements in effect as of the date hereof are isare satisfactory.
Appears in 1 contract
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has (i) entered into a management agreement with respect to such Asset in form and substance reasonably satisfactory to the Administrative AgentRequired Lenders, and (ii) following the Performance Date, executed and delivered a management agreement subordination agreement in form and substance reasonably satisfactory to the Required Lenders. The Lenders Lender Parties acknowledge that the Management Agreements Agreement in effect as of the date hereof are is satisfactory.
Appears in 1 contract
Management Agreements. At all times cause each Borrowing Base Asset to be managed and operated by an Approved Manager that has entered into a management agreement with respect to such Asset in form and substance satisfactory to the Administrative Agent. The Lenders Lender Parties acknowledge that the Management Agreements Agreement in effect as of the date hereof are is satisfactory.
Appears in 1 contract
