Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently conducted by them as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Borrower and Operating Lessee will remain in good standing under the laws of each jurisdiction to the extent required for the ownership, maintenance, management and operation of the Properties.
Appears in 3 contracts
Samples: Loan Agreement (Felcor Lodging Trust Inc), Agreement (Felcor Lodging Trust Inc), Loan Agreement (Felcor Lodging Trust Inc)
Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Propertieseach Individual Property. Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the Propertieseach Individual Property.
Appears in 3 contracts
Samples: Loan Agreement (Hospitality Investors Trust, Inc.), Loan Agreement (Hospitality Investors Trust, Inc.), Loan Agreement (Hospitality Investors Trust, Inc.)
Business and Operations. Borrower shall, and shall cause Operating Lessee will to, continue to engage in the businesses presently conducted by them Borrower and Operating Lessee as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty. Borrower shall, and shall cause Operating Lessee to, qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the PropertiesProperty.
Appears in 3 contracts
Samples: Loan Agreement (Innkeepers Usa Trust/Fl), Loan Agreement (Innkeepers Usa Trust/Fl), Loan Agreement (Innkeepers Usa Trust/Fl)
Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the Properties.
Appears in 1 contract
Samples: Loan Agreement (New York REIT, Inc.)
Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently currently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management ownership and operation leasing of the PropertiesProperty. Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management ownership and operation leasing of the PropertiesProperty. Borrower and Operating Lessee shall at all times cause each Individual Property to be maintained as a hotel.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Supertel Hospitality Inc)
Business and Operations. Each Borrower and each Operating Lessee will continue to engage in the businesses presently conducted by them it as and to the extent the same are reasonably necessary for the ownership, maintenance, management and operation of the Properties. Property owned and/or leased by such Borrower and such Operating Lessee. Each Borrower and each Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the PropertiesProperty owned and/or leased by such Borrower and Operating Lessee.
Appears in 1 contract
Samples: Loan Agreement (American Realty Capital Hospitality Trust, Inc.)
Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently currently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty. Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the PropertiesProperty. Borrower and Operating Lessee shall at all times cause each Individual Property to be maintained as a hotel.
Appears in 1 contract
Business and Operations. Each of Borrower and Operating Lessee will continue to engage in the businesses presently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty. Each of Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the PropertiesProperty.
Appears in 1 contract
Business and Operations. Borrower shall, and shall cause Operating Lessee will to, continue to engage in the businesses presently conducted by them Borrower and Operating Lessee as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Borrower shall, and shall cause Operating Lessee to, qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the Properties.
Appears in 1 contract
Business and Operations. Borrower and Operating Lessee will continue to engage in the businesses presently conducted by them as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty. Borrower and Operating Lessee will remain in good standing under the laws of each jurisdiction to the extent required for the ownership, maintenance, management and operation of the PropertiesProperty.
Appears in 1 contract
Business and Operations. Each of Borrower and Operating Lessee will shall continue to engage in the businesses presently conducted by them it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty, and shall continue to operate the Property for such purposes. Each of Borrower and Operating Lessee will qualify to do business and will remain in good standing under the laws Laws of each the jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the PropertiesProperty.
Appears in 1 contract
