Ashford Prime OP definition

Ashford Prime OP means Ashford Hospitality Prime Limited Partnership, a Delaware limited partnership.
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Ashford Prime OP has the meaning set forth in the introductory paragraph of this Agreement.
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Ashford Prime OP means Ashford Hospitality Prime Limited Partnership, a Delaware limited partnership. “Ashford Prime Parties” shall collectively mean Ashford Prime and Ashford Prime OP. “Ashford Trust” shall mean Ashford Hospitality Trust, Inc., a Maryland corporation. “Ashford Trust Exclusivity Rights” shall have the meaning as set forth in Section 4(a). “Ashford Trust’s Investment Guidelines” shall mean all segments of the hospitality industry (including direct, joint venture and debt investments in hotels, condo-hotels, time-shares and all other hospitality related assets), with RevPAR criteria less than two (2) times the then current U.S. average RevPAR. “Ashford Trust Mutual Exclusivity Agreement” shall mean that certain Mutual Exclusivity Agreement dated as of August 29, 2003, by and among Ashford Trust OP, Ashford Trust, Remington Hotel Corporation, Manager, Xxxxxx Xxxxxxx, Xx., and Xxxxx X. Xxxxxxx, as may be amended or modified. “Ashford Trust OP” shall mean Ashford Hospitality Limited Partnership, a Delaware limited partnership. “Ashford Trust Parties” shall collectively mean Ashford Trust and Ashford Trust OP. “Base Management Fee” shall have the meaning given such term in the Master Management Agreement. “Capital Improvement Budget” shall have the meaning given such term in the Master Management Agreement. “Effective Date” shall have meaning given such term in the preamble of the Agreement. “Eligible Independent Contractor” shall have the same meaning given such term in Section 856(d)(9) of the Internal Revenue Code of 1986, as amended. “Event of Default” shall have the meaning as set forth in Section 9. “Excluded Ashford Inc. Transactions” shall mean an Ashford Inc. Transaction with respect to which there has been an Independent Director Election. “Excluded Remington Transactions” shall mean the following excluded transactions of the Remington Affiliates: (a) Existing hotel investments made by one or more of the Remington Affiliates with any of their Existing Investors; (b) Existing bona fide arm’s length third party management arrangements (or arrangements for other services such as project management) with parties other than the Ashford Inc. Affiliates pursuant to which one or more of the Remington Affiliates provide customary hotel management and hotel construction management, project management and other services; and (c) Like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended, made by any of the Existing Investors pursuant ...
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Examples of Ashford Prime OP in a sentence

  • We conduct our business and own substantially all of our assets through our operating partnership, Ashford Prime OP.

  • As of March 27, 2014, Ashford Trust beneficially owned common units of Ashford Prime OP, representing 14.6% of our company on a fully-diluted basis.

  • We may use cash or issue common units in Ashford Prime OP as currency for a transaction.

  • Ashford Trust’s 20% ownership interest of common units of Ashford Prime OP will increase upon Ashford Prime’s exercise of its option to acquire the Crystal Gateway Marriott for common units.

  • This is considered a Level 1 valuation technique.Receivables, due from Ashford Trust OP, net, due from Ashford Prime OP, net, accounts payable and accrued expenses, due to affiliates, due to Ashford Prime OP from AQUA U.S. Fund and other liabilities.

  • Name and Address of Beneficial Owner * Denotes less than 1.0% (1) Ownership includes common units of Ashford Prime OP issued in connection with our spin-off from Ashford Trust in November 2013.

  • Represents adjustments for: (i) the contribution of the Ashford Prime Properties and Ashford Trust’s 20% non-controlling interest in Ashford Prime OP; (ii) the investment of the net proceeds of this offering in connection with the contemplated spin-off; and (iii) an estimated $3.0 million received from Ashford Prime related to the acquisition of three taxable REIT subsidiaries.

  • As of March 12, 2015, Ashford Trust beneficially owned common units of Ashford Prime OP, representing 15.2% of our company on a fully-diluted basis.

  • Ashford Prime OP has guaranteed certain obligations of the borrowers under the loan agreement.The loans identified in the table above (other than the loans from Aareal Capital Corporation, JP Morgan Chase and GACC) were assumed in connection with the spin-off and include various financial cash trap triggers.

  • This is considered a Level 1 valuation technique.Accounts receivable, net, due from Ashford Trust OP, due from Ashford Prime OP, accounts payable and accrued expenses, due to affiliates, due to Ashford Prime OP from AQUA U.S. Fund and other liabilities.

Related to Ashford Prime OP

  • Operating Partnership has the meaning set forth in the preamble.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Co-op A private, cooperative housing corporation, having only one class of stock outstanding, which owns or leases land and all or part of a building or buildings, including apartments, spaces used for commercial purposes and common areas therein and whose board of directors authorizes the sale of stock and the issuance of a Co-op Lease.

  • MLP GP means any general partner of any MLP and any general partner of the general partner of any MLP.

  • Operating Partnership Agreement means the Fifth Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as it may be amended, supplemented or restated from time to time.

  • MLP Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the MLP, as amended or restated from time to time.

  • General Partners means all such Persons.

  • REIT means a “real estate investment trust” under Sections 856 through 860 of the Code.

  • PAA means Plains All American Pipeline, L.P., a Delaware limited partnership.

  • Public-private partnership means an arrangement or agreement, occurring on or after January 1, 2017, between a procurement unit and one or more contractors to provide for a public need through the development or operation of a project in which the contractor or

  • MLP has the meaning given such term in the introduction to this Agreement.

  • ETP means Energy Transfer Partners, L.P., a Delaware limited partnership.

  • GP means Gottbetter & Partners, LLP.

  • Public-private partnership agreement means an agreement

  • General Partner has the meaning set forth in the Preamble.

  • CPE means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Contributors has the meaning set forth in the initial paragraph hereof.

  • Blackstone means Blackstone Capital Partners V L.P. and its Affiliates.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Surviving Partnership has the meaning set forth in Section 11.2.B(ii) hereof.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Starwood shall have the meaning assigned to such term in the preamble to this Agreement.

  • Partnership Percentage means the percentage share of each Partner in the Net Income or Net Loss of the Partnership. The Partners’ initial Partnership Percentages shall be proportionate to the Partners’ initial Capital Contributions to the Partnership. Thereafter, subject to Section 1.68(g), such Partnership Percentages shall be adjusted only to reflect a disproportionate Capital Contribution by one or more Partners or a disproportionate distribution to one or more Partners, with disproportion being determined in accordance with Sections 4.2(a) and 4.5(b), except as set forth in Section 1.68(f).

  • Oaktree means Oaktree Capital Management, LLC and its Affiliates, including any partnerships, separate accounts or other entities managed by Oaktree.