Distributions, Payments to Affiliated Persons, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions or any payment to any Affiliated Person of Tenant (including payments in the ordinary course of business and payments pursuant to Management Agreements with any such Affiliated Person) or set apart any sum or property therefor, or agree to do so, if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default shall have occurred and be continuing. Otherwise, as long as no Event of Default shall have occurred and be continuing, Tenant may make Distributions and payments to Affiliated Persons (other than from the FF&E Reserve which shall be governed by Section 5.1.2) without restriction.
Appears in 5 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Sholodge Inc), Lease Agreement (Candlewood Hotel Co Inc)
Distributions, Payments to Affiliated Persons, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions Distribution or any payment to to, or investment in, any Affiliated Person of Tenant (including payments in the ordinary course of business and payments pursuant to Management Agreements management agreements with any such Affiliated Person) or set apart any sum or property therefor, or agree to do so, if, at the time of such proposed action, or immediately after giving effect thereto, any an Event of Default shall have occurred and be continuingexist. Otherwise, as long as no Event of Default shall have occurred and be continuing, Tenant may make Distributions Distributions, loans and payments to Affiliated Persons (other than from the FF&E Reserve Reserve, which shall be governed by Section 5.1.2) without restriction.
Appears in 2 contracts
Samples: Master Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust)
Distributions, Payments to Affiliated Persons, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions or any payment to any Affiliated Person of Tenant (including payments in the ordinary course of business and payments pursuant to Management Agreements with any such Affiliated Person) or set apart any sum or property therefor, or agree to do so, if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default shall have occurred and be continuing. Otherwise, as long as no Event of Default shall have occurred and be continuing, Tenant may make Distributions and payments to Affiliated Persons (other than from the FF&E Reserve which shall be governed by Section SECTION 5.1.2) without restriction.
Appears in 1 contract
Samples: Lease Agreement (Sholodge Inc)
Distributions, Payments to Affiliated Persons, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions or any payment to any Affiliated Person of Tenant (including payments in the ordinary course of business and payments pursuant to Management Agreements with any such Affiliated Person) or set apart any sum or property therefor, or agree to do so, if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default shall have occurred and be continuing. Otherwise, as long as no Event of Default shall have occurred and be continuing, Tenant may make Distributions and payments to Affiliated Persons (other than from the FF&E Reserve which shall be governed by Section 5.1.2) without restriction.and
Appears in 1 contract
