Hersha definition
Examples of Hersha in a sentence
The REIT shall have the Common Shares issuable upon redemption registered in accordance with the Hersha Hospitality Limited Partnership Agreement attached hereto as Exhibit M and incorporated herein.
The Executive shall have authority and responsibility with respect to the day-to-day operations and management of the Company and Hersha Hospitality Limited Partnership (the "Partnership"), for which the Company currently serves as sole general partner, and the Company’s other subsidiaries ("Subsidiary") (collectively "Affiliates"), as well as implementation of the long range growth strategy of the Company and Affiliates consistent with direction from the Board.
The Partnership Units may be redeemed upon delivery of a notice ("Redemption Notice") from the Contributors , for common shares ("Common Shares") of beneficial interest in Hersha Hospitality Trust (the "REIT") or for cash, in accordance with the Hersha Hospitality Limited Partnership Agreement, attached hereto as Exhibit M, and incorporated herein.
The LP Units may be redeemed upon delivery of a notice ("Redemption Notice") from the Transferees, for common shares ("Common Shares") of beneficial interest in Hersha Hospitality Trust (the "REIT") or for cash, in accordance with the Hersha Hospitality Limited Partnership Agreement attached hereto as Exhibit M, and incorporated herein.
Each of Hersha Owner and Hersha Lessee is a limited liability company duly organized and validly existing and in good standing under the laws of the State of Delaware and is qualified to transact business in the state where the Property is located.
No action, suit or legal or administrative proceeding shall have been instituted by or before any Governmental Authority seeking to enjoin the transactions contemplated by this Agreement and intended to occur at the related Closing, other than any such proceeding initiated by or on behalf of Hersha Owner or any of its affiliates.
In that connection, Hersha Owner (and Hersha Lessee) do not anticipate the termination of any employees of the Hotel employed by Hotel Manager or the Staffing Company in connection with the transactions contemplated in this Agreement.
Hersha Owner shall receive a credit at Closing for prepaid expenses for goods or services paid (including travel agency or travel service commissions) for rooms at the Hotel to be utilized on or after the Closing.
A deed for the Premises in the form of Exhibit C attached hereto (the “Deed”), duly executed by Hersha Owner.
Notwithstanding the foregoing, in the event that prior to the Closing Hersha Owner has paid any costs related to the PIP, Hersha Owner shall receive a credit for such costs at the Closing.