Common use of Sublease Limitation Clause in Contracts

Sublease Limitation. For so long as Landlord or any Affiliate of Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof shall seek to qualify as a real estate investment trust under the Code, anything contained in this Lease to the contrary notwithstanding, Tenant shall not sublet the Leased Property on any basis such that the rental to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of such sublessee or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

Sublease Limitation. For so long as Landlord or any Affiliate of Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof shall seek to qualify as a real estate investment trust under the Code, anything contained in this Lease to the contrary notwithstanding, Tenant shall not sublet the Leased Property on any basis such that the rental to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of such sublessee or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

Sublease Limitation. For so long as Landlord or any Affiliate of Affiliated Person as to Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof shall seek to qualify as a "real estate investment trust trust" under the Code, anything contained in this Lease Agreement to the contrary notwithstanding, Tenant shall not sublet or otherwise enter into any agreement with respect to the Leased Property Hotel on any basis such that in the opinion of the Landlord the rental or other fees to be paid by any sublessee thereunder would be based, in whole or in part, on either (ai) the income or profits derived by the business activities of such sublessee sublessee, or (bii) any other formula such that any portion of such sublease rental would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

Sublease Limitation. For so long as Landlord or any Affiliate of Affiliated Person as to Landlord or any Member or beneficiary Affiliate of Landlord or any direct or indirect constituent owner thereof Landlord, shall seek to qualify as a real estate investment trust under the Codetrust, anything contained in this Lease to the contrary notwithstanding, Tenant shall not sublet the Leased Property on any basis such that Landlord determines that the rental to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of such sublessee sublessee, or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, Code or any similar or successor provision thereto.

Sublease Limitation. For so long as Landlord or any Affiliate of Affiliated Person as to Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof shall seek to qualify as a real estate investment trust under the Codetrust, anything contained in this Lease Agreement to the contrary notwithstanding, Tenant shall not sublet or otherwise enter into any agreement with respect to the Leased Property or any part thereof on any basis such that the rental or other fees to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of such sublessee or (b) sublessee, any other formula such that any portion of such sublease rental would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision theretothereto or would otherwise disqualify Landlord for treatment as a real estate investment trust.

Sublease Limitation. For so long as Landlord or any Affiliate as to Landlord or any Member of Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof thereof, shall seek to qualify as a real estate investment trust under the Codetrust, anything contained in this Lease Agreement to the contrary notwithstanding, Tenant shall not sublet the Leased Property on any basis such that the rental to be paid by any sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of such sublessee sublessee, or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

Sublease Limitation. For so long as Landlord or any Affiliate of Affiliated Person as to Landlord or any Member or beneficiary of Landlord or any direct or indirect constituent owner thereof shall seek to qualify as a “real estate investment trust trust” under the Code, anything contained in this Lease Agreement to the contrary notwithstanding, Tenant shall not sublet or otherwise enter into any agreement with respect to the Leased Property Hotel on any basis such that in the opinion of the Landlord the rental or other fees to be paid by any sublessee thereunder would be based, in whole or in part, on either (ai) the income or profits derived by the business activities of such sublessee sublessee, or (bii) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.