Owned Hospitality Property definition

Owned Hospitality Property means a Hospitality Property owned by the Parent or one of the Parent’s Subsidiaries or leased by the Parent or one of the Parent’s Subsidiaries pursuant to a Ground Lease.
Sample 1Sample 2
Owned Hospitality Property. SECURITY DOCUMENTS" for any Owned Hospitality Property (other than one owned by a Permitted Other Subsidiary), means collectively (a) a Mortgage, (b) an Assignment of Leases, and (c) such other security agreements, pledge agreements, assignments, mortgages, financing statements, stock powers, and other collateral documentation as the Agents may reasonably request.
Sample 1

Examples of Owned Hospitality Property in a sentence

  • Notwithstanding anything in this Agreement or any other Credit Document to the contrary, except in connection with the release of Liens on an Owned Hospitality Property contemplated by the provisions of Section 5.09, each payment of any Advance pursuant to this Section 2.07 or any other provision of this Agreement shall be made in a manner such that all Advances secured by a Lien on an Owned Hospitality Property shall be deemed the last Advances repaid.

  • With respect to the Owned Hospitality Properties set forth on Schedule 4.21, the Borrower, the Parent or its Subsidiaries, as applicable, has good and marketable fee simple title to such Owned Hospitality Property, free and clear of all Liens other than the Permitted Encumbrances.

  • None of the Permitted Encumbrances has a Material Adverse Change or otherwise materially interferes with the current or intended use or operation of any Owned Hospitality Property or materially impairs the value of any Owned Hospitality Property.

  • Borrower shall maintain or cause to be maintained insurance (a) for each Hospitality Property that is owned, leased or managed by Borrower or its Subsidiaries as required by the applicable Permitted Property Agreement, (b) for each Owned Hospitality Property as is required by the applicable Security Documents and (c) evidenced by and in accordance with the policies on Schedule 16 hereof.

  • Borrower shall immediately notify Agent of any fire or other casualty or any pending or threatened condemnation or eminent domain proceeding with respect to all or any portion of each of the Owned Hospitality Property.

  • The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable except in connection with sale of an Owned Hospitality Property.

  • To the extent that the Borrower or any of its Subsidiaries is providing a mortgage/deed of trust/deed to secure debt in respect of any Owned Hospitality Property in accordance with the terms of this Agreement, the Agent shall have received Appraisals acceptable to the Agent and all of the Co-Lenders with respect to any of the Owned Hospitality Properties dated within six (6) months prior to delivery.

  • The Agent shall have received such evidence as the Agent and all of the Co-Lenders shall deem reasonably necessary to establish (including, without limitation, a certificate of Borrower) that each Owned Hospitality Property is in material compliance with all Applicable Laws as of the Closing Date.

  • Prepayments under the foregoing paragraph (i) shall be applied (A) first, to Term Advances in the reverse order of maturity, and (B) second, to Revolving Advances; provided that such prepayment shall be applied to Revolving Advances (and not to Term Advances) if such prepayment is a result of a Repayment Event with the Net Cash Proceeds of Permitted Other Indebtedness secured by an Owned Hospitality Property Investment financed initially in whole or in part with the Revolving Advances.

  • To the extent that the Borrower or any of its Subsidiaries is providing a mortgage in respect of any Owned Hospitality Property in accordance with the terms of this Agreement, the Agent shall have received certified copies of all Leases with respect to each of the Owned Hospitality Properties which shall be reasonably satisfactory to the Agent and all of the Co-Lenders.

Related to Owned Hospitality Property

  • Community property means that property of a husband and wife

  • Owned Real Estate means all land, together with all buildings, structures, fixtures, and improvements located thereon and all easements, rights of way, and appurtenances relating thereto, owned by the Company or any of its Subsidiaries.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and related real estate activities, including the provision of mortgage financing or title insurance.

  • City Property means any real property owned by City, whether in fee or other ownership estate of interest.

  • Real Estate means all Leases and all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned by any Loan Party, including all easements, rights-of-way, and similar rights relating thereto and all leases, tenancies, and occupancies thereof.

  • Association Property means that property, real and personal, which is owned or leased by, or is dedicated by a recorded plat to, the association for the use and benefit of its members.

  • Residential real estate means any real property located in this state, upon which is constructed or intended to be constructed a dwelling;

  • Commercial real estate means real estate or an interest in real estate that is not any of the following:

  • Company Properties shall have the meaning set forth in Section 4.15.1.

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

  • Real Estate-Related Assets means any investments by the Company or the Operating Partnership in Mortgages and Real Estate-Related Securities.

  • Hospitality means the considerate care of guests, which may include refreshments, accommodation and entertainment at a restaurant, hotel, club, resort, convention, concert, sporting event or other venue such as Company offices, with or without the personal presence of the host. Provision of travel may also be included, as may other services such as provision of guides, attendants and escorts; use of facilities such as a spa, golf course or ski resort with equipment included;

  • Other Real Estate means all interests in real estate (other than Bank Premises and Fixtures), including but not limited to mineral rights, leasehold rights, condominium and cooperative interests, air rights and development rights that are owned by the Failed Bank.

  • Leased Real Estate means all real property that the Company or any of its Subsidiaries leases, subleases or otherwise uses or occupies, or has the right to use or occupy, pursuant to a Lease.

  • Related Real Estate Documents with respect to any Real Estate subject to a Mortgage, the following, in form and substance satisfactory to Agent and received by Agent for review at least 10 days prior to the effective date of the Mortgage: (a) a mortgagee title policy (or binder therefor) covering Agent’s interest under the Mortgage, in a form and amount and by an insurer acceptable to Agent, which must be fully paid on such effective date; (b) such assignments of leases, estoppel letters, attornment agreements, consents, waivers and releases as Agent may require with respect to other Persons having an interest in the Real Estate; (c) a current, as-built survey of the Real Estate, containing a metes-and-bounds property description and flood plain certification, and certified by a licensed surveyor acceptable to Agent; (d) flood insurance in an amount, with endorsements and by an insurer acceptable to Agent, if the Real Estate is within a flood plain; (e) a current appraisal of the Real Estate, prepared by an appraiser acceptable to Agent, and in form and substance satisfactory to Required Lenders; (f) an environmental assessment, prepared by environmental engineers acceptable to Agent, and accompanied by such reports, certificates, studies or data as Agent may reasonably require, which shall all be in form and substance satisfactory to Required Lenders; and (g) an Environmental Agreement and such other documents, instruments or agreements as Agent may reasonably require with respect to any environmental risks regarding the Real Estate.

  • Retail Property means a Property improved with a building or buildings the substantial use of which is retail space, which may include a Property that is part of a Mixed-Use Property.

  • Real Estate Investment Trust means any Person that qualifies as a real estate investment trust under Sections 856 through 860 of the Code.

  • Timberland means land, other than land owned by the federal government and land designated by the board as experimental forest land, which is available for, and capable of, growing a crop of trees of a commercial species used to produce lumber and other forest products, including Christmas trees. Commercial species shall be determined by the board on a district basis.

  • Campus means any place where the college conducts or sponsors educational, public service, or research activities.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).