Common use of Special Purpose Entity/Separateness Clause in Contracts

Special Purpose Entity/Separateness. (a) Until the Debt has been paid in full, Borrower hereby represents, warrants and covenants that Borrower and each SPE Party is, shall be and shall continue to be a Special Purpose Entity.

Appears in 10 contracts

Samples: Fourth Mezzanine Loan Agreement (Harrahs Entertainment Inc), Second Mezzanine Loan Agreement (Harrahs Entertainment Inc), Third Mezzanine Loan Agreement (Harrahs Entertainment Inc)

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Special Purpose Entity/Separateness. (a) Until the Debt has been paid in full, Borrower and each other Loan Party hereby representsrepresent, warrants warrant and covenants covenant (as to itself) that Borrower and each SPE other Loan Party has been since the Order Date, is, shall be and shall continue to be be, a Special Purpose Entity.

Appears in 1 contract

Samples: Management Agreement (ESH Hospitality LLC)

Special Purpose Entity/Separateness. (a) Until the Debt has been paid in full, Borrower hereby represents, warrants and covenants that Borrower and each SPE Party Entity has been since its formation, is, shall be and shall continue to be a Special Purpose Entity.

Appears in 1 contract

Samples: Loan Agreement (Bh Re LLC)

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Special Purpose Entity/Separateness. (a) Until the Debt has been paid in full, Borrower each Loan Party hereby represents, warrants and covenants that Borrower and each SPE Party is, shall be it is and shall continue to be a Special Purpose Entity.

Appears in 1 contract

Samples: Loan Agreement (Chatham Lodging Trust)

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