Examples of Participating Leases in a sentence
The only material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Approved Participating Leases.
The Approved Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.
The Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.
Throughout the Term, Tenant's Required Minimum Net Worth (x) shall be increased proportionately after the execution of any additional Participating Lease in accordance therewith and (y) shall be decreased with the termination of any Participating Leases (unless such termination results from an Event of Default thereunder).
Tenant covenants, during the Term, that Tenant will not engage in any business unrelated to the operation and management of the Hotel or otherwise permitted under any Participating Leases.
Each Guarantor guarantees that the ----------------- Guaranteed Obligations will be paid and performed strictly in accordance with the terms of the Credit Agreement, the other Credit Documents and the Participating Leases, as applicable, regardless of any law, regulation, or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Administrative Agent, the Documentation Agent, the Managing Agents, the Banks or the Participating Lessees with respect thereto.
The only participating leases burdening the Hotel Properties are the Participating Leases.
The only material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Participating Leases.
Reflects the transfer of net hotel operating assets from CapStar ($37,959 of operating assets and $37,088 of operating liabilities) in conjunction with the execution of the Participating Leases and the resulting due to affiliate of $871 for the amount by which operating assets transferred to OpCo exceed operating liabilities assumed by OpCo.
In the event that neither (a) Stevx Xxxxxxxx xx Richxxx Xxxxxx xxx (b) a person or entity proposed by Lessee and consented to by Lessor (which consent shall not be unreasonably withheld) is involved in the management of Lessee, then Lessor shall have the right, as its sole remedy, to terminate all, but not fewer than all, of the Participating Leases and Lessee shall pay to Lessor, as a result of such termination, the Termination Value, provided that if Messrs.