Specified Operating Lessees definition
Specified Operating Lessees means those certain Subsidiaries of TRS Holdco which, without a capital contribution, would not be Solvent; provided, however, the Borrower shall provide notice to the Administrative Agent identifying the name of such Specified Operating Lessee.
Specified Operating Lessees means each of Summit Hotel TRS 002, LLC; Summit Hotel TRS 011, LLC; Summit Hotel TRS 020, LLC; Summit Hotel TRS 021, LLC; Summit Hotel TRS 023, LLC; Summit Hotel TRS 028, LLC; Summit Hotel TRS 039, LLC; Summit Hotel TRS 059, LLC; Summit Hotel TRS 068, LLC; Summit Hotel TRS 069, LLC; Summit Hotel TRS 093, LLC; and Summit Hotel TRS 096, LLC.
Specified Operating Lessees means those certain Subsidiaries of TRS Holdco which, without a capital contribution, would not be Solvent; provided, however, the Borrower shall provide notice to the Administrative Agent identifying the name of such Specified Operating Lessee. “Subordinated Obligations” has the meaning specified in Section 7.07. “Subsidiary” of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate of which (or in which) 50% or more of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) the beneficial interest in such trust or estate, in each case, is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries. “Subsidiary Guarantor” has the meaning specified in the first paragraph of this Agreement. “Successor Rate” has the meaning specified in Section 2.19(b). “Summit JV MR 1 Facility” means the facility provided pursuant to the Credit Agreement dated as of October 8, 2019 between Summit JV MR 1, LLC, as borrower, Summit Hospitality JV, LP, as parent, the guarantors party thereto, Bank of America, N.A., as administrative agent, and the lenders party thereto, as amended, restated, amended and restated, supplemented or otherwise modified from time to time. “Summit SubJV Facility” means the facility provided pursuant to the Credit Agreement dated as of January 13, 2022, by and among Summit JV MR 2, LLC, Summit JV MR 3, LLC and Summit NCI ▇▇▇▇ BR 184, LLC, as borrowers, Summit Hospitality JV, LP, as parent, the guarantors party thereto, Bank of America, N.A., as administrative agent, and the lenders party thereto, as amended, restated, amended and restated, supplemented or otherwise modified from time to time.
Examples of Specified Operating Lessees in a sentence
As of the Closing Date, there are no Specified Operating Lessees.
More Definitions of Specified Operating Lessees
Specified Operating Lessees means those certain Subsidiaries of TRS Holdco which, without a capital contribution, would not be Solvent; provided, however, the Borrower shall provide notice to the Administrative Agent identifying the name of such Specified Operating Lessee. “Subordinated Obligations” has the meaning specified in Section 7.07. “Subsidiary” of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate of which (or in which) 50% or more of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) the beneficial interest in such trust or estate, in each case, is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries. “Subsidiary Guarantor” has the meaning specified in the first paragraph of this Agreement. “Successor Rate” has the meaning specified in Section 2.19(b). “Summit JV MR 1 Facility” means the facility provided pursuant to the Credit Agreement dated as of October 8, 2019 between Summit JV MR 1, LLC, as borrower, Summit Hospitality JV, LP,
Specified Operating Lessees means those certain Subsidiaries of TRS Holdco which, without a capital contribution, would not be Solvent;