Standard of Operation. Subject to Section 3.6 and the terms of the Senior Loan Documents, the Company shall operate or cause to be operated the Properties at all times in a manner consistent with at least the standard of operation of the Properties as of the Effective Date (or, if greater, in accordance with the terms of the applicable franchise license agreements entered into by any Subsidiary).
Appears in 6 contracts
Samples: Limited Liability Company Agreement (American Realty Capital Hospitality Trust, Inc.), Limited Liability Company Agreement (American Realty Capital Hospitality Trust, Inc.), Limited Liability Company Agreement (W2007 Grace Acquisition I Inc)
Standard of Operation. Subject to Section 3.6 and and, with respect to Senior Loan Properties, the terms of the Senior Loan Documents, the Company shall operate or cause to be operated the Properties at all times in a manner consistent with at least the standard of operation of the Properties as of the Effective Original Closing Date (or, if greater, in accordance with the terms of the applicable franchise license agreements entered into by any Subsidiary).
Appears in 1 contract
Samples: Limited Liability Company Agreement (Hospitality Investors Trust, Inc.)
