Occupancy Agreements. There are no leases, concessions or occupancy agreements in effect with respect to any Real Property other than the Occupancy Agreements set forth on Exhibit EE. Except as specifically provided in such Occupancy Agreements, no tenant or concessionaire is entitled to any rebates, allowances, free rent or rent abatement for any period after the Closing of the Transactions. No Owner Party has received notice of any intention by any of the parties to any of such Occupancy Agreements to cancel the same, nor has any Partnership canceled any of same. To the extent that any of such Occupancy Agreements call for security, such security remains on deposit with the Partnerships, and has not been applied towards any payment due under said Occupancy Agreements, except as set forth on Exhibit EE. No Partnership has received any advance rent or advance compensation under any of such Occupancy Agreements in excess of one month. Except as set forth on Exhibit EE, no brokerage commissions or compensation of any kind shall be due in connection with such Occupancy Agreements, and the rents or revenues to be derived therefrom. To Owners’ knowledge, no party is in default under any such Occupancy Agreements, except as set forth on Exhibit EE. To Owners’ knowledge, each Partnership has performed all obligations required to be performed by it on or before the Closing under each of such Occupancy Agreements. Except as set forth on Exhibit EE, no tenant has given notice to any Partnership of its intention to institute litigation with respect to any such Occupancy Agreement.
Appears in 1 contract
Sources: Combined Contribution and Purchase and Sale Agreement (Ashford Hospitality Trust Inc)
Occupancy Agreements. There Except as set forth on Schedule 4.8 hereto, to Sellers' knowledge: (i) there are no leases, concessions or occupancy agreements in effect with respect to any the Real Property other than the Occupancy Agreements set forth on Exhibit EE. Except made available for inspection by Purchaser as specifically Submission Matters; (ii) except as provided in such the Occupancy Agreements, no tenant or concessionaire is entitled to any rebates, allowances, free rent or rent abatement for any period after the Closing of the Transactions. No Owner Party transaction contemplated hereby, and no rent has been prepaid thereunder for any period longer than one month in advance (other than as security for the first or last month's rent); (iii) no Acquired Entity has received written notice of any intention by any of the parties to any of such Occupancy Agreements Agreement to cancel the same, same nor has any Partnership Acquired Entity canceled any of same. To ; (iv) to the extent that any of such the Occupancy Agreements call calls for security, such security remains on deposit with the PartnershipsOwner or Operating Lessee, and has not been applied towards any payment due under said Occupancy Agreements, except as set forth on Exhibit EE. No Partnership has received any advance rent or advance compensation under any of such Occupancy Agreements in excess of one month. Except as set forth on Exhibit EE, no brokerage commissions or compensation of any kind shall be due in connection with such Occupancy Agreements, and the rents or revenues to be derived therefrom. To Owners’ knowledge, ; (v) no party is in material default under any such Occupancy Agreements, except as set forth on Exhibit EE. To Owners’ knowledge, each Partnership has ; (vi) Owner or Operating Lessee have performed in all material respects all obligations required to be performed by of it on under all of the Occupancy Agreements and there remain no unfulfilled obligations of Owner or before the Closing Operating Lessee under each of such any Occupancy Agreements. Except as set forth on Exhibit EE, ; and (vii) no tenant has given written notice to any Partnership Acquired Entity of its intention to institute litigation or otherwise assert a claim or offset with respect to any such Occupancy AgreementAgreements.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Strategic Hotel Capital Inc)
Occupancy Agreements. There are no leases, concessions or occupancy agreements in effect with respect to any Real Property other than the Occupancy Agreements set forth on Exhibit EE. Except as specifically provided in such Occupancy Agreements, no tenant or concessionaire is entitled to any rebates, allowances, free rent or rent abatement for any period after the Closing of the Transactions. No Owner Party has received notice of any intention by any of the parties to any of such Occupancy Agreements to cancel the same, nor has any Partnership canceled any of same. To the extent that any of such Occupancy Agreements call for security, such security remains on deposit with the Partnerships, and has not been applied towards any payment due under said Occupancy Agreements, except as set forth on Exhibit EE. No Partnership has received any advance rent or advance compensation under any of such Occupancy Agreements in excess of one month. Except as set forth on Exhibit EE, no brokerage commissions or compensation of any kind shall be due in connection with such Occupancy Agreements, and the rents or revenues to be derived therefrom. To Owners’ ' knowledge, no party is in default under any such Occupancy Agreements, except as set forth on Exhibit EE. To Owners’ ' knowledge, each Partnership has performed all obligations required to be performed by it on or before the Closing under each of such Occupancy Agreements. Except as set forth on Exhibit EE, no tenant has given notice to any Partnership of its intention to institute litigation with respect to any such Occupancy Agreement.
Appears in 1 contract
Sources: Combined Contribution and Purchase and Sale Agreement (Ashford Hospitality Trust Inc)