Common use of Adverse Regulatory Event Clause in Contracts

Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Tenant and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Effect. For purposes of this Agreement, the term “Adverse Regulatory Effect” means any time that a law, statute, ordinance, code, rule or regulation imposes upon Tenant (or could imposes upon Tenant in Tenant’s reasonable opinion), any material threat to either Landlord’s or Landlord’s Affiliate’s status as a “real estate investment trust” under the Code or to the treatment of amounts paid to Landlord as “rents from real property” under Section 856(d) of the Code. Each of Manager and Tenant shall inform the other of any Adverse Regulatory Event of which it is aware and which it believes likely to impair compliance of any of the Hotels with respect to the aforementioned sections of the Code.

Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Tenant each Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory EffectEvent. For purposes of this Agreement, the term “Adverse Regulatory EffectEvent” means any time that a law, statute, ordinance, code, rule or regulation imposes upon Tenant any Owner (or could imposes impose upon Tenant such Owner in Tenantsuch Owner’s reasonable opinion), any material threat to either any Landlord’s or any Landlord’s Affiliate’s status as a “real estate investment trust” under the Code or to the treatment of amounts paid to such Landlord as “rents from real property” under Section 856(d) of the Code. Each of Manager and Tenant each Owner shall inform the other of any Adverse Regulatory Event of which it is aware and which it believes likely to impair compliance of any of the Hotels Hotel with respect to the aforementioned sections of the Code.

Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Tenant and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Effect. For purposes of this Agreement, the term “Adverse Regulatory Effect” means any time that a law, statute, ordinance, code, rule or regulation imposes upon Tenant (or could imposes upon Tenant in Tenant’s reasonable opinion), any material threat to either Landlord’s or Landlord’s Affiliate’s status as a “real estate investment trust” under the Code or to the treatment of amounts paid to Landlord as “rents from real property” under Section 856(d) of the Code. Each of Manager and Tenant shall inform the other of any Adverse Regulatory Event of which it is aware and which it believes likely to impair compliance of any of the Hotels Hotel with respect to the aforementioned sections of the Code.