Pooled Hotels definition

Pooled Hotels means all hotel properties described on Schedule 1.81 attached hereto, as may be amended from time to time pursuant to the terms of the Pooling and Cumulation Agreement.
Sample 1

Examples of Pooled Hotels in a sentence

  • Each Owner shall have the right to assign all of its right, title and interest in this Agreement to any Person who, in compliance with the terms of the Pooled Management Agreements, has succeeded to all of Owner’s right, title and interest in all Pooled Hotels which at the time of such assignment remain Pooled Hotels and has assumed all of the obligations of “Owner” under all of the Pooled Management Agreements then in effect for all such Pooled Hotels.

  • With each Pooled Accounting Period Statement, Manager shall distribute Pooled Operating Profit for the preceding Accounting Period based on the priorities set forth in Section 2.02 hereof rather than Operating Profit for each of the Pooled Hotels, with such amounts calculated, earned and distributed based on prorating the full Fiscal Year’s Pooled Owner’s Priority equally over twelve (12) Accounting Periods.

  • If there occurs any Sale of any individual Pooled Hotel (other than a Sale to an Affiliate of the REIT), or if the Management Agreement for any Pooled Hotel shall expire or otherwise terminate, then (i) this Agreement shall terminate as to such Pooled Hotel, effective as of the date of such Sale of the Pooled Hotel or expiration or termination, and (ii) the other Pooled Hotels shall thereafter continue to be subject to this Agreement.

  • Manager shall have the right to any Person who, in compliance with the terms of the Pooled Management Agreements, has succeeded to all of Manager’s right, title and interest in all Pooled Hotels which at the time of such assignment remain Pooled Hotels and has assumed all of the obligations of “Manager” under all of the Pooled Management Agreements then in effect for all such Pooled Hotels.

  • The TRS Entities shall maintain a balance in the Operating Account in an aggregate amount equal to $100,000 for all of the Pooled Hotels which shall be used by IH as working capital for the benefit of all of the Pooled Hotels.

  • Within twenty (20) days after the close of each Accounting Period, IH shall submit paper and electronic copies of an accounting to the TRS Entities, in form satisfactory to the TRS Entities, showing IH’s computation of Gross Revenues, Deductions, Operating Profit, Lessee’s Priority, Available Cash Flow and distributions for such Accounting Period and for the Fiscal Year to date on an aggregate basis for all of the Pooled Hotels.

  • Within twenty (20) days after the close of each Fiscal Year, IH shall submit an aggregate accounting for all the Pooled Hotels, as more fully described below in Section III.E (c) for such Fiscal Year to the TRS Entities, which accounting shall be controlling over the interim accountings.

Related to Pooled Hotels

  • 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.

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

  • Residential means that the Premises where the Service is installed are used wholly:

  • Hotel Property means a Property on which there is located an operating hotel.

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

  • Casino means a casino as defined in section 1 of the KwaZulu-Natal Gaming and Betting Act, 2010 (Act No. 8 of 2010);

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

  • 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.

  • Condominium Project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Courtyard means a space permanently open to sky, with or without pergola, enclosed fully or partially by buildings and may be at ground level or any other level within or adjacent to a building;

  • Mixed-use project means a project comprising both a qualified

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

  • Marriott means Marriott International, Inc.

  • Hotel Site means the real property on which the Hotel is located or to be located, as approved by us.

  • 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.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.