Common use of PIPS Clause in Contracts

PIPS. Each Loan Party has responded to and either cured, or is diligently seeking a cure within the applicable cure period, of all action items listed in any PIP with respect to any Borrowing Base Property, or compliance therewith has been waived.

Appears in 2 contracts

Sources: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)