Examples of Lessee Affiliate in a sentence
This Guaranty is a guaranty of payment and performance and not of collection and Guarantor waives any right to require that any action against Lessee or any Lessee Affiliate be taken or exhausted prior to action being taken against Guarantor.
The undersigned Lessee waives diligence, presentment, demand for payment, protest or notice of any Lessee Default or nonperformance by any Lessee Affiliate, all affirmative defenses, offsets and counterclaims against Lessor, any right to the benefit of any security or statute of limitations, and any requirement that Lessor proceed first against a Lessee Affiliate or any collateral security.
Anything contained in this Lease to the contrary notwithstanding, none of the officers or employees of Lessee or any Lessee Affiliate shall be officers or employees of Manager (or any Person who operates or manages the Leased Property).
If a Person serves as both (i) director or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (ii) a director and officer (or employee) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee Affiliate.
In addition, if a Person serves as both (a) a director of Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving as a director of Lessee or any Lessee Affiliate.