Examples of PR Lease in a sentence
It is understood and agreed that so long as the PR Property is a Pooled FF&E Hotel, funds deposited in the Reserve Account pursuant to this Agreement and the FF&E Reserve under PR Lease shall be maintained and used on a consolidated basis such that all amounts to be deposited in the Reserve Account and the FF&E Reserve shall be deposited in a single account and Manager and PR Tenant may apply any funds therein to any of the Pooled FF&E Hotels in accordance with the terms of this Agreement and PR Lease.
Except as provided in SECTIONS 2.7 or 24.17 or in connection with the foreclosure of an Authorized Mortgage or deed-in-lieu of such foreclosure, Purchaser and its Affiliates and their successors and assigns shall not sell less than all the Pooled FF&E Hotels to any Person except to an Affiliate as provided in SECTION 4.4 or in Section 15.6 of the PR Lease.
If Manager gives notice of its election not to extend the Term, or the PR Tenant gives notice of its election not to extend the term of the PR Lease, or Manager shall have no further right to extend the Term, then at any time during the last two years of the Term, Owner may terminate this Agreement on not less than thirty (30) days' prior written notice.
Except as provided in Sections 2.7 or 24.17 or in connection with the foreclosure of an Authorized Mortgage or deed-in-lieu of such foreclosure, Purchaser and its Affiliates and their successors and assigns shall not sell less than all the Pooled FF&E Hotels to any Person except to an Affiliate as provided in Section 4.4 or in Section 15.6 of the PR Lease.
The Parent's obligations under this letter agreement shall terminate and be of no further force or effect upon the earliest to occur of (i) the expiration of the New Management Agreement, or (ii) the termination or expiration of the PR Lease.
If Manager gives notice of its election not to extend the Term, or the PR Tenant gives notice of its election not to extend the term of the PR Lease, or Manager shall have no further right to extend the Term, then at any time during the last two years of the Term, Owner may terminate this Agreement on not less than thirty (30) days’ prior written notice.
The Guarantor hereby unconditionally guarantees that the Guaranteed Obligations which become due and payable during the term of the Management Agreement and the PR Lease shall be paid in full when due and payable, whether upon demand, at the stated or accelerated maturity thereof or upon any mandatory or voluntary prepayment pursuant to any Transaction Document, or otherwise.
Landlord acknowledges that Tenant is currently obligated under the terms of a lease with Point Richmond R&D Associates, a California Limited Partnership for space located in Point Richmond Tech Center 1, Building D, 1003 Xxxx Xxxxxxx Xxxxxxxxx, Xxxxxxxx, Xxxxxxxxxx (xxe "PR Lease").
If Manager gives notice of its election not to extend the Term, or the PR Tenant gives notice of its election not to extend the term of the PR Lease, or Manager shall have no further right to extend the Term, then at any time during the last two years of the Term, Owner may terminate this Agreement on not less than thirty (30) days’ and not more than two hundred seventy (270) days’ prior written notice.
The PR Lease contains a provision allowing for termination upon the construction of the Premises.