Common use of Borrowing Base Requirements Clause in Contracts

Borrowing Base Requirements. The Borrower shall cause the Hotel Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that (a) if the requirements of clauses (a), (b), or (c) of the definition of Borrowing Base Requirements are not met, then within two (2) Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, or (b) if the requirements of clause (e) of the definition of Borrowing Base Requirements are not met, then within thirty (30) days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists.

Borrowing Base Requirements. The Borrower shall cause the Hotel Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided PROVIDED that (a) if the requirements of clauses (a), (b), (c), or (ce) of the definition of Borrowing Base Requirements are not met, then within two (2) 2 Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, or (b) if the requirements of clause (ef) of the definition of Borrowing Base Requirements are not met, then within thirty (30) 180 days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, and (c) if the requirements of clause (g) of the definition of Borrowing Base Requirements are not met and such failure remains uncured 180 days after notice of the commencement of such failure, then such failure shall constitute an Event of Default without any notice being given to the Borrower or any Guarantor in connection therewith.

Borrowing Base Requirements. The Borrower shall cause the Hotel Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that (a) if the requirements of clauses (a), (b), or (c) of the definition of Borrowing Base Requirements are not met, then within two (2) 2 Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, or (b) if the requirements of clause (e) of the definition of Borrowing Base Requirements are not met, then within thirty (30) 180 days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, and (c) if the requirements of clauses (f) or (g) of the definition of Borrowing Base Requirements are not met and such failure remains uncured 180 days after notice of the commencement of such failure, then such failure shall constitute an Event of Default without any notice being given to the Borrower or any Guarantor in connection therewith.

Borrowing Base Requirements. The Borrower shall cause the --------------------------- Hotel Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that (a) if the requirements of clauses -------- (a), (b), (c), or (ce) of the definition of Borrowing Base Requirements are not met, then within two (2) 2 Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, or (b) if the requirements of clause (ef) of the definition of Borrowing Base Requirements are not met, then within thirty (30) 180 days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) for Borrowing Base purposes the Borrower shall have lowered the Hotel Value of those Eligible Properties that contributed to such failure to the point that such failure no longer exists, and (c) if the requirements of clause (g) of the definition of Borrowing Base Requirements are not met and such failure remains uncured 180 days after notice of the commencement of such failure, then such failure shall constitute an Event of Default without any notice being given to the Borrower or any Guarantor in connection therewith.