Pool Requirements definition

Pool Requirements means collectively that (a) except for the Orlando ----------------- Radisson Twin Towers, the Cost Basis for any individual Hotel Property shall not exceed 20% of the Cost Basis for all Eligible Property; (b) the Cost Basis for all Eligible Property at all times must exceed $300,000,000; (c) the Cost Basis for Hotel Properties which are limited service hotels (for purposes of this definition Marriott Courtyards shall not be deemed limited service hotels) shall not exceed 20% of the Cost Basis for all Eligible Property; (d) the Cost Basis for Hotel Properties which do not have Franchise Agreements shall not exceed 20% of the Cost Basis for all Eligible Property; (e) the occupancy levels, operating revenues and geographic diversity of the Eligible Property shall be generally comparable to that of the Initial Properties taken as whole; (f) no Hotel Property or other Property shall cause the Parent to forfeit the Parent's tax status as a real estate investment trust under Sections 856-860 of the Code, (g) any Future Property shall be comparable in quality to the Initial Properties, and (h) the Cost Basis for Hotel Properties which are subject to a Ground Lease shall not exceed 20% of the Cost Basis for all Eligible Property.
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Pool Requirements means each of the following requirements:
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Pool Requirements means collectively that (a) the Cost Basis for any ----------------- individual Hotel Property shall not exceed 20% of the Cost Basis for all Eligible Property; (b) the Cost Basis for all Eligible Property at all times must exceed $150,000,000; (c) the Cost Basis for Hotel Properties which are limited service hotels (for purposes of this definition Marriott Courtyards shall not be deemed limited service hotels) shall not exceed 20% of the Cost Basis for all Eligible Property; (d) the Cost Basis for Hotel Properties which do not have Franchise Agreements shall not exceed 20% of the Cost Basis for all Eligible Property; (e) the occupancy levels, operating revenues and geographic diversity of the Eligible Property shall be generally comparable to that of the Initial Properties taken as whole; (f) no Hotel Property or other Property shall cause the Parent to forfeit the Parent's tax status as a real estate investment trust under Sections 856-860 of the Code, and (g) any Future Property shall be comparable in quality to the Initial Properties.
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Examples of Pool Requirements in a sentence

  • Eleven months in advance of each Planning Period based on the projections described in section C of this Schedule, the PJM Board, acting upon the recommendation of the Members Committee, shall establish the Forecast Pool Requirements for the Parties for such Planning Period annually before June 30.

  • The projection of the Forecast Pool Requirements shall consider the following data and forecasts as necessary.

  • In addition to the covenants and requirements set forth in Section 4 above and Section 6.6 below, Borrower shall ensure that the applicable Additional Unencumbered Asset Pool Requirements are satisfied at all times.

  • Notwithstanding the foregoing, in the event any Property does not qualify as Eligible Property or satisfy the Unencumbered Asset Pool Requirements, such Property shall be included in the calculation of Unencumbered Asset Pool Value so long as the Administrative Agent shall have received the prior written consent of each of the Required Lenders to the inclusion of such Property in the calculation of Unencumbered Asset Pool Value.

  • The quorum for meetings of the Board shall be constituted by the attendance of the Provider Member, the PES Member and the Supplier Member (or their alternates) and: 5.5.5.1 where matters which relate to or affect the Pool Requirements are to be considered, the Pool MEC Member (or his/her alternate); and 5.

  • Notwithstanding the foregoing, in the event any Property does not qualify as Eligible Property or satisfy the Unencumbered Asset Pool Requirements, such Property shall be included in the calculation of Unencumbered Asset Pool Value so long as the Required Holders shall have provided their prior written consent to the inclusion of such Property in the calculation of Unencumbered Asset Pool Value.