OPERATING LESSEE Sample Clauses

OPERATING LESSEE. DTRS SCOTTSDALE, L.L.C, a Delaware limited liability company By: /s/ Xxxx X. Xxxxx Name: Xxxx X. Xxxxx Title: Assistant Treasurer [Lender’s signature appears on following page] LENDER: CITIGROUP GLOBAL MARKETS REALTY CORP., a New York corporation By: /s/ Xxxx Xxxxxxxx Name: Xxxx Xxxxxxxx Title: Authorized Signatory EXHIBIT A TITLE INSURANCE REQUIREMENTS, ENDORSEMENTS AND AFFIRMATIVE COVERAGES
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OPERATING LESSEE. DTRS SANTA XXXXXX, L.L.C., a Delaware limited liability company By: /s/ Xxxx X. Xxxxx Name: Xxxx X. Xxxxx Title: Vice President & Treasurer LENDER: JPMORGAN CHASE BANK N.A., a banking association chartered under the laws of the United States of America By: /s/ Xxxxxxx Xxxxxx Name: Xxxxxxx Xxxxxx Title: VP EXHIBIT A TITLE INSURANCE REQUIREMENTS, ENDORSEMENTS AND AFFIRMATIVE COVERAGES
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OPERATING LESSEE. LF3 LUBBOCK CASA TRS, LLC, a Delaware limited liability company By: Lodging Fund REIT III TRS, Inc., a Delaware corporation, as its Sole Member By: Lodging Fund REIT III OP, LP, a Delaware limited partnership, as its Sole Shareholder By: Lodging Fund REIT III, Inc., a Maryland corporation, as its General Partner By: /s/ Xxxxx Xxx Name: Xxxxx Xxx Title: Chief Financial Officer FEE BORROWER: LF3 LUBBOCK CASA, LLC, a Delaware limited liability company By: Lodging Fund REIT III OP, LP, a Delaware limited partnership, as its Sole Member By: Lodging Fund REIT III, Inc., a Maryland corporation, as its General Partner By: /s/ Xxxxx Xxx Name: Xxxxx Xxx Title: Chief Financial Officer
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OPERATING LESSEE. Operating Lessee is a duly organized, validly existing limited liability company in good standing under the laws of the State of Delaware and is qualified to transact business in the State of Texas. Lodging Fund REIT III TRS, Inc. ("Operating Lessee Member") is the sole member of Operating Lessee. Operating Lessee Member, acting alone without the joinder of any other manager or member of Operating Lessee or any other party, has the power and authority to execute this Agreement on behalf of and to duly bind Operating Lessee under this Agreement and the Loan Documents. The execution and delivery of, and performance under, this Agreement and the Loan Documents by Operating Lessee have been duly and properly authorized pursuant to all requisite limited liability company action of Operating Lessee and will not (x) violate any provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to Operating Lessee or the articles of organization, certificate of formation, operating agreement, limited liability company agreement, or any other organizational document of Operating Lessee or (y) result in a breach of or constitute or cause a default under any indenture, agreement, lease or instrument to which Operating Lessee is a party or by which the Property may be bound or affected.
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OPERATING LESSEE. 1, 7 Operating Revenues.............................................................
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OPERATING LESSEE. With respect to Operating Lessee’s operation of the Properties, Borrower shall cause each Operating Lessee to comply with all of the negative covenants set forth in this Agreement, and no default hereunder shall be excused by virtue of the fact that such default was caused by an Operating Lessee (by way of example, if any Operating Lessee initiated a zoning change not permitted hereunder, the same shall constitute a violation of Section 6.16).
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OPERATING LESSEE. Operating Lessee will, at the time of Closing, be an Affiliate of Seller. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE ASSETS ARE HEREBY SOLD ON AN “AS IS, WHERE IS, WITH ALL FAULTS” BASIS AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS ANY WARRANTIES, REPRESENTATIONS, COVENANTS, OR GUARANTEES, EITHER EXPRESS OR IMPLIED, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, AS TO THE MERCHANTABILITY, QUANTITY, QUALITY, ENVIRONMENTAL CONDITION, OR PHYSICAL CONDITION OF THE ASSETS OR THEIR SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR USE. Purchaser acknowledges that the individuals referenced in the definition of “Seller’s Knowledge” are named solely for the purpose of defining and narrowing the scope of Seller’s Knowledge and not for the purpose of imposing any liability on or creating any duties running from such individuals to Purchaser. Purchaser covenants that it will bring no action of any kind against such individuals or any member of a Seller related to or arising out of the representations and warranties set forth in this Section 5.1.
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OPERATING LESSEE. Borrower acknowledges that its responsibilities hereunder to cause the Operating Lessee to take action or to not take action (the “Operating Lessee Obligations”) are absolute and not contingent on Operating Lessee agreeing to take or not take such actions. Borrower shall have no cure periods (other than those cure periods specifically provided for in the Loan Documents) with respect to such the Operating Lessee Obligations and Xxxxxxxx’s failure to comply with the Operating Lessee Obligations hereunder shall have the same force and effect as if the action (or failure to act) of the Operating Lessee was performed (or not performed, as applicable) by Borrower.
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OPERATING LESSEE. Acknowledged and agreed to with respect to its obligations set forth in Articles 4, 5 and 6 hereof and Section 2.13: ASHFORD TRS NICKEL LLC By: /S/ XXXXX X. XXXXXXXX Xxxxx X. Xxxxxxxx President and Secretary
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Related to OPERATING LESSEE

  • Operating Lease Without Lender’s prior written consent, Borrower shall not permit Mortgage Borrower or Property Owner to (a) surrender, terminate or cancel the Operating Lease; (b) reduce or consent to the reduction of the term of the Operating Lease; (c) increase or consent to the increase of the amount of any charges under the Operating Lease; (d) modify, change, supplement, alter or amend the Operating Lease or waive or release any of Borrower’s or Property Owner’s rights and remedies under the Operating Lease, except as contemplated in connection with a Restructuring; or (e) waive, excuse, condone or in any way release or discharge Operating Lessee of or from Operating Lessee’s material obligations, covenants and/or conditions under the Operating Lease, except to the extent such Operating Lessee’s obligations are assumed in connection with a Restructuring. Notwithstanding the foregoing provisions of this Section 5.2.12 to the contrary, Borrower may cause or permit Mortgage Borrower and Property Owner to amend the Operating Lease without Lender’s prior written consent as follows: (i) in connection with a Release Prepayment, the Operating Lease shall be amended (or deemed amended) to (x) terminate the Operating Lease with respect to the applicable Released Property and (y) reduce the amount of Minimum Rent (as defined in the Operating Lease) by the amount of Minimum Rent allocable to such Released Property as set forth in the Operating Lease; (ii) increase or reduce the amount of Percentage Rent (as defined in the Operating Lease) payable under the Operating Lease; and (iii) increase or reduce the amount of Minimum Rent payable under the Operating Lease; provided, that in the case of an increase in Minimum Rent, such Minimum Rent shall only be increased to the then fair market value, based on transfer pricing studies conducted by an Independent CPA reasonably acceptable to Lender (any “Big 4” Independent CPA being deemed acceptable).

  • Property Manager Any entity that has been retained to perform and carry out property rental, leasing, operation and management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property.

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Borrower The term “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any interest in Borrower.

  • Mortgagor The obligor on a Mortgage Note. ---------

  • Operating Partnership Operating Partnership shall have the meaning set forth in the preamble of this Agreement.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

  • Property Ownership The Fund owns or leases all such properties as are necessary to the conduct of its operations as presently conducted.

  • Real Property Holding Company The Company is not a real property holding company within the meaning of Section 897 of the Code.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or HFF, which consent may be withheld in the Owner’s sole discretion.

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