Hotels Leaseco definition

Hotels Leaseco means Sunstone U.S. Hotel (No. 4) Inc., a Delaware corporation; “Hotels Leaseco Share Value” means, on any particular date:
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Examples of Hotels Leaseco in a sentence

  • Operations of the Hotels Hotels Leaseco will engage Hotel Managerco, a British Columbia corporation, to provide management and operation services in respect of the Hotels upon the acquisition of the first Hotel.

  • Hotel Managerco will have the right to subcontract and/or assign some or all of the services to be provided by it under the Hotel Management Agreement to a party who qualifies as an eligible independent contractor of Hotels Leaseco and the Hotels Investment LP as defined by the Code, provided that in the event of such a subcontract or assignment, Hotel Managerco will remain liable for the fulfillment of the obligations of the manager under the Hotel Management Agreement.

  • Such distributions will be paid to the Master LP and Hotels Investment LP as the holders of the common shares of Hotels Leaseco within a reasonable time after being declared.

  • As well, Hotels Leaseco will reimburse Hotel Managerco for all out-of-pocket expenses reasonably incurred by Hotel Managerco in the provision of services under the Hotel Management Agreement.

  • The principal business of the Master LP will be to issue Master LP Units and to invest in the Properties Investment LP Units, Hotels Investment LP Units and Hotels Leaseco Shares.

  • To satisfy lender requirements and ensure that property-level loans are not cross-collateralized, Properties will be owned by separate underlying limited partnerships established and owned by the Holding LPs. 3.4 Business of Hotels Leaseco Hotels Leaseco has been established for the purposes of leasing the Hotels from the Hotels Holding LP or its subsidiaries, and engaging Hotel Managerco to manage and operate the Hotels.

  • Upon such assignment, Hotels Leaseco may terminate the Hotel Management Agreement on 90 days notice either in whole or with respect to an individual Hotel.

  • The terms and conditions attaching to the shares of Hotels Leaseco are summarized in “Description of the Securities Distributed – Hotels Leaseco”.

  • The holders of the common shares in the capital of Hotels Leaseco will be entitled to the payment of distributions as and when declared by the directors of Hotels Leaseco and in such amounts as are declared from time to time.

  • In consideration of the provision of services under the Hotel Management Agreement, Hotels Leaseco will pay Hotel Managerco a management fee equal to 3.5% of total revenues per month earned by each Hotel (plus applicable taxes).

Related to Hotels Leaseco

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Real Estate Leases is defined in Section 4.7.

  • Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

  • Hotels means the hotel properties described in Exhibit A hereto, as it may be amended from time to time by mutual agreement of Lessee and Operator to add hotel properties or to delete hotel properties as a result of termination of this Agreement with respect to one or more hotel properties pursuant to the termination provisions set forth in this Agreement. “Hotel” shall mean any hotel set forth on Exhibit A as it may be amended from time to time.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon which responsibilities are imposed and to which authority is granted in the declaration.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.

  • Franchise Agreements means (a) the Franchise Agreements set forth on Part IV of Schedule 4.01(p) hereto, and (b) any Franchise Agreement in respect of a Borrowing Base Asset entered into after the Closing Date in compliance with Section 5.01(r).

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • Existing Franchise Agreement means that certain franchise license agreement between the Seller and the Franchisor, granting to Seller a franchise to operate the Hotel under the Brand.

  • Operating Partnership has the meaning set forth in the preamble.

  • Shopping Center means the Shopping Center identified on the initial page hereof.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Operating Companies means, collectively, the Creekside Operating Company, the Mentone Operating Company and the Yucaipa Operating Company. “Operating Company” means any of the Operating Companies.

  • Real Property Lease means any lease, sublease, license or other Contract with respect to Real Property.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.