Common use of Occupancy Agreements Clause in Contracts

Occupancy Agreements. 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 the Real Property other than the Occupancy Agreements made available for inspection by Purchaser as Submission Matters; (ii) except as provided in 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 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 Occupancy Agreement to cancel the same nor has any Acquired Entity canceled any of same; (iv) to the extent that any of the Occupancy Agreements calls for security, such security remains on deposit with Owner or Operating Lessee, and has not been applied towards any payment due under said Occupancy Agreements; (v) no party is in material default under any Occupancy Agreements; (vi) Owner or Operating Lessee have performed in all material respects all obligations required of it under all of the Occupancy Agreements and there remain no unfulfilled obligations of Owner or Operating Lessee under any Occupancy Agreements; and (vii) no tenant has given written notice to any Acquired Entity of its intention to institute litigation or otherwise assert a claim or offset with respect to any Occupancy Agreements.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Strategic Hotel Capital Inc)

Occupancy Agreements. Except as set forth on Schedule 4.8 hereto, to Sellers' knowledge: (i) there There are no leases, concessions or occupancy agreements in effect with respect to the any Real Property other than the Occupancy Agreements made available for inspection by Purchaser set forth on Exhibit EE. Except as Submission Matters; (ii) except as specifically provided in the 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 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 Transactions. No Owner Party has received written notice of any intention by any of the parties to any of such Occupancy Agreement Agreements to cancel the same same, nor has any Acquired Entity Partnership canceled any of same; (iv) to . To the extent that any of the such Occupancy Agreements calls call for security, such security remains on deposit with Owner or Operating Lesseethe Partnerships, and has not been applied towards any payment due under said Occupancy Agreements; (v) , 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 material default under any such Occupancy Agreements; (vi) Owner or Operating Lessee have , except as set forth on Exhibit EE. To Owners' knowledge, each Partnership has performed in all material respects all obligations required to be performed by it on or before the Closing under each of it under all of the Occupancy Agreements and there remain no unfulfilled obligations of Owner or Operating Lessee under any such Occupancy Agreements; and (vii) . Except as set forth on Exhibit EE, no tenant has given written notice to any Acquired Entity Partnership of its intention to institute litigation or otherwise assert a claim or offset with respect to any such Occupancy AgreementsAgreement.

Appears in 1 contract

Sources: Combined Contribution and Purchase and Sale Agreement (Ashford Hospitality Trust Inc)

Occupancy Agreements. Except as set forth on Schedule 4.8 hereto, to Sellers' knowledge: (i) there There are no leases, concessions or occupancy agreements in effect with respect to the any Real Property other than the Occupancy Agreements made available for inspection by Purchaser set forth on Exhibit EE. Except as Submission Matters; (ii) except as specifically provided in the 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 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 Transactions. No Owner Party has received written notice of any intention by any of the parties to any of such Occupancy Agreement Agreements to cancel the same same, nor has any Acquired Entity Partnership canceled any of same; (iv) to . To the extent that any of the such Occupancy Agreements calls call for security, such security remains on deposit with Owner or Operating Lesseethe Partnerships, and has not been applied towards any payment due under said Occupancy Agreements; (v) , 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 material default under any such Occupancy Agreements; (vi) Owner or Operating Lessee have , except as set forth on Exhibit EE. To Owners’ knowledge, each Partnership has performed in all material respects all obligations required to be performed by it on or before the Closing under each of it under all of the Occupancy Agreements and there remain no unfulfilled obligations of Owner or Operating Lessee under any such Occupancy Agreements; and (vii) . Except as set forth on Exhibit EE, no tenant has given written notice to any Acquired Entity Partnership of its intention to institute litigation or otherwise assert a claim or offset with respect to any such Occupancy AgreementsAgreement.

Appears in 1 contract

Sources: Combined Contribution and Purchase and Sale Agreement (Ashford Hospitality Trust Inc)