Common use of Security for Guaranty Clause in Contracts

Security for Guaranty. As security for the obligations of the Guarantor hereunder, HPT has retained from the aggregate purchase prices of the Properties pursuant to the Purchase Agreement, the sum of Five Million Dollars ($5,000,000) (the "Guaranty Retained Funds"). HPT shall have no obligation to hold the Guaranty Retained Funds in a segregated account and may commingle the same with its general funds. Provided that no Event of Default shall have occurred and be continuing, HPT shall credit the Guarantor or its assigns with interest on any unapplied balance of the Guaranty Retained Funds at a rate of 11.11% per annum. Such interest shall be credited in arrears and pro rated with respect to any partial month. Provided that (x) no (i) monetary Default, (ii) Default as to which Notice thereof has been given to Tenant or (iii) Event of Default shall have occurred and be continuing under the Lease, (y) Cash Flow on a cumulative basis for a period of twelve (12) full consecutive Accounting Periods equals or exceeds Minimum Rent by forty percent (40%) with respect to such period, and (z) HPT shall receive a schedule evidencing the foregoing, in form and substance reasonably satisfactory to HPT prepared by certified public accountants approved by HPT (such approval not to be unreasonably withheld, delayed or conditioned), HPT shall, within ten (10) Business Days after the written request of the Guarantor, pay any unapplied balance of the Guaranty Retained Funds, together with any accrued and unpaid interest with respect thereto, to the Guarantor. At the written request of the Guarantor, HPT shall credit accrued interest on the Guaranty Retained Funds against the monthly Minimum Rent.

Security for Guaranty. As security for the obligations of the Guarantor hereunder, HPT has retained from the aggregate purchase prices of the Properties pursuant to the Purchase Agreement, the sum of Five Six Million Seven Hundred Fifty Thousand Dollars ($5,000,0006,750,000) (the "Guaranty Retained Funds"). HPT shall have no obligation to hold the Guaranty Retained Funds in a segregated account and may commingle the same with its general funds. Provided that no Event of Default shall have occurred and be continuing, HPT shall credit the Guarantor or its assigns with interest on any unapplied balance of the Guaranty Retained Funds at a rate of 11.11% per annum. Such interest shall be credited in arrears and pro rated with respect to any partial month. Provided that (x) no (i) monetary Default, (ii) Default as to which Notice thereof has been given to Tenant or (iii) Event of Default shall have occurred and be continuing under the Lease, (y) Cash Flow on a cumulative basis for a period of twelve (12) full consecutive Accounting Periods equals or exceeds Minimum Rent by forty percent (40%) with respect to such period, and (z) HPT shall receive a schedule evidencing the foregoing, in form and substance reasonably satisfactory to HPT prepared by certified public accountants approved by HPT (such approval not to be unreasonably withheld, delayed or conditioned), HPT shall, within ten (10) Business Days after the written request of the Guarantor, pay any unapplied balance of the Guaranty Retained Funds, together with any accrued and unpaid interest with respect thereto, to the Guarantor. At the written request of the Guarantor, HPT shall credit accrued interest on the Guaranty Retained Funds against the monthly Minimum Rent.

Security for Guaranty. As security for the obligations of the Guarantor hereunder, HPT has retained from the aggregate purchase prices of the Properties pursuant to the Purchase Agreement, the sum of Ten Million Sixty-Four Thousand Eight Hundred Seventy-Five Million Dollars ($5,000,00010,064,875) (the "Guaranty Retained Funds"). HPT shall have no obligation to hold the Guaranty Retained Funds in a segregated account and may commingle the same with its general funds. Provided that no Event of Default shall have occurred and be continuing, HPT shall credit the Guarantor or its assigns with interest on any unapplied balance of the Guaranty Retained Funds at a rate of 11.11% per annum. Such interest shall be credited in arrears and pro rated with respect to any partial month. Provided that (x) no (i) monetary Default, (ii) Default as to which Notice thereof has been given to Tenant or (iii) Event of Default shall have occurred and be continuing under the Amended and Restated Lease, (y) Cash Flow on a cumulative basis for a period of twelve (12) full consecutive Accounting Periods equals or exceeds Minimum Rent by forty percent (40%) with respect to such period, and (z) HPT shall receive a schedule evidencing the foregoing, in form and substance reasonably satisfactory to HPT prepared by certified public accountants approved by HPT (such approval not to be unreasonably withheld, delayed or conditioned), HPT shall, within ten (10) Business Days after the written request of the Guarantor, pay any unapplied balance of the Guaranty Retained Funds, together with any accrued and unpaid interest with respect thereto, to the Guarantor. At the written request of the Guarantor, HPT shall credit accrued interest on the Guaranty Retained Funds against the monthly Minimum Rent.