Hotel Collateral definition
Hotel Collateral means each of the following related to the operation of the Hotel Properties: Equipment, Building Materials, Inventory, Fixtures, Chattel Paper, Hotel Accounts, Instruments, Intellectual Property, Documents, General Intangibles, Books, Landscaping, and Proceeds.
Hotel Collateral means all "Collateral" referred to in the Collateral Documents and all other property that is or is intended to be subject to any Lien in favor of the Collateral Agent or the Administrative Agent for the benefit of the Secured Parties.
Examples of Hotel Collateral in a sentence
Make capital investments in the Hotel Collateral Properties of not less than 4% of the gross room revenue generated on the Hotel Collateral Properties for the purpose of maintaining or renovating such properties, all in accordance with prudent business practices.
The Loan Parties are the legal and beneficial owners of the Hotel Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents.