HHMLP definition
Examples of HHMLP in a sentence
Each of the representations and warranties made herein with respect to HHMLP (as defined below) are made to the best of the Company’s knowledge, after due inquiry.
Purchaser and Sellers shall cause the Lessee to enter into an asset management agreement with Hersha Hospitality Management, L.P. ("HHMLP") (the "Asset Management Agreement"), and pursuant to the Asset Management Agreement, HHMLP will act as Asset Manager, providing overall sales and management support to Lessee, and all accounting functions for the LLC, and HHMLP shall earn an asset management fee of 1% of the Gross Revenues.
At the request of HHLP, HHMLP shall deliver all keys to the Properties to the HHLP on or before the Termination Date.
Except as indicated in Section 1 herein, HHLP, the HHLP-Subs and HHMLP hereby waive, release and discharge the other from each and every past, current and future obligation, covenant, agreement, stipulation, payment and other liability under the Leases or in any manner connected therewith effective as of the Termination Date.
HHMLP is not in default under or in breach of, or subject to any event that with the giving of notice or the lapse of time or both would constitute a default under or breach of, any term or condition of any material agreement or instrument to which HHMLP is a party or by which any of its properties is bound, except as disclosed in the Prospectus.
Seller shall cooperate with Purchaser in endeavoring to allow Purchaser to use the liquor license for the Hotel to operate the facilities in the Hotel presently serving liquor until Purchaser can obtain its own liquor license; provided, that, Purchaser indemnifies Seller and HHMLP against any liability which may arise by reason of Purchaser's use of the liquor license for the Hotel.
HHMLP hereby agrees to surrender the Properties, --------------------- and all alterations, additions and improvements therein, to HHLP and the HHLP-Subs on the Termination Date in as good condition as they were in at the commencement of the term of the Leases, ordinary wear and tear excepted, and, at the request of HHLP, to remove all personal property and furniture of HHMLP's located therein.
Purchaser shall bear all costs and expenses that Seller or HHMLP may incur in connection with the transfer of the liquor license, and Purchaser shall indemnify HHMLP and Seller for any losses, liabilities, claims, actions, damages, and expenses in connection with Purchaser’s use of, or activities involving, the liquor license.
Subject to the terms and conditions set forth --------------------- herein, HHLP, the HHLP-Subs and HHMLP hereby agree that the Leases shall terminate as of 12:01 a.m. on the date first set forth above (the "Termination Date").
To the extent necessary or ------------------------------------------ as requested by HHLP, HHMLP shall use its good faith commercially reasonable efforts to assign and transfer any third party contracts, agreements, licenses or permits related to the Properties to HHLP or HHLP's assignee.