Common use of Subsidiary Guarantor Requirements Clause in Contracts

Subsidiary Guarantor Requirements. Cause or permit any Subsidiary Guarantor to (i) incur Indebtedness other than trade payables in the ordinary course of business or otherwise permitted by Section 5.02(b); or (ii) own any Real Property other than Unencumbered Assets.

Appears in 2 contracts

Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)

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Subsidiary Guarantor Requirements. Cause or permit any Subsidiary Guarantor to (i) incur Indebtedness other than trade payables in the ordinary course of business or otherwise permitted by Section 5.02(b); or (ii) own any Real Property other than Unencumbered Assets.”

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel Properties, Inc.)

Subsidiary Guarantor Requirements. Cause or permit any Subsidiary Guarantor to (i) incur Indebtedness other than trade payables in the ordinary course of business or otherwise permitted by Section 5.02(b); ) or (ii) own any Real Property other than Unencumbered Assets.

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel OP, LP)

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Subsidiary Guarantor Requirements. Cause or permit any Subsidiary Guarantor to (i) incur Indebtedness other than trade payables in the ordinary course of business or otherwise permitted by Section 5.02(b); ) or (ii) own any Real Property other than Unencumbered Assets (provided that any Subsidiary Guarantor that is a Subsidiary Guarantor solely as a result of Section 5.01(x)(i) and not any other provision of this Agreement may own property other than Unencumbered Assets).

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel Properties, Inc.)

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