Documents and Information. The Administrative Agent shall have received each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative Agent: (i) a copy of each of the following for such Hotel Property certified as true and correct by the Borrower: A. If the Hotel Property is subject to an Approved Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property; B. If the Hotel Property is subject to an Approved Management Agreement, the Approved Management Agreement; C. the Approved Participating Lease; D. If the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease; and E. If the Property Owner is not the Borrower, the Property Owner's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Accession Agreement all certified to be true and complete by a duly authorized officer of such Property Owner; (ii) if the Borrower has received a survey of the Real Property, a copy of such survey; (iii) (A) a description of such Hotel Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year; (iv) certificates and, to the extent within the Borrower's control, policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 hereof; and (v) all other documents reasonably required by either Agent.
Appears in 2 contracts
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties), Senior Unsecured Credit Agreement (Lasalle Hotel Properties)
Documents and Information. The Administrative Agent shall have received ------------------------- each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative AgentAgents:
(i) the original executed Property Security Documents and the Participating Lessee Documents (except for the Credit Card Agreements and the Depository Account Agreements with financial institutions other than the Cash Manager);
(ii) a copy of each of the following for such Hotel Property certified as true and correct by the BorrowerBorrower pursuant to a Property Certificate:
A. If the Hotel Property is subject to an Approved a Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If the Hotel Property is subject to an Approved Management Agreement, the Approved Management Agreement;
C. the Approved Participating Lease;
D. List of the Personal Property for such Hotel Property;
E. Acquisition Agreements;
F. A rent roll for the Hotel Property identifying all rentable space within the Hotel Property, the tenant, concessionaire or licensee (or if vacant, identified as vacant), the monthly rental payable (including any adjustments to operating expenses), the date through which rent is paid, the termination date of each such leases, concessions and licenses and a delinquency report.
G. The occupancy permit;
H. If the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease;
I. The liquor license for such Hotel Property;
J. Liquor License Concession Agreement and any other agreements related to the liquor license(s); and
E. If the Property Owner is not the Borrower, the K. The Property Owner's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Accession Agreement Security Documents all certified to be true and complete by a duly authorized officer of such Property Owner;
L. The Participating Lessee's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Tenant Documents all certified to be true and complete by a duly authorized officer of such Property Owner;
(iiiii) if the Borrower has received a ALTA/ASCM survey of the Real Property, Property certified in a copy of such survey;
manner reasonably satisfactory to the Agents by a registered surveyor and dated no more than ninety (iii90) (A) a description of days prior to the date the Borrower desires that such Hotel Property be an Eligible Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, all financial statements related to the extent within Hotel Property (i) reasonably required by the Agents; or (ii) necessary to provide the Agents with a true and complete knowledge of the financial condition of the Hotel Property;
(v) an Environmental Report;
(vi) an Engineering Report;
(vii) if available, a set of as-built plans for the Hotel Property;
(viii) either (A) evidence from the applicable Governmental Authority of compliance with zoning for the Hotel Property, (B) a zoning endorsement to the Title Policy, (C) legal opinion of compliance with zoning for the Hotel Property in form reasonably acceptable to the Administrative Agent, or (D) other evidence of compliance with zoning for the Hotel Property reasonably acceptable to the Administrative Agent;
(ix) a summary list of the Capital Expenditures and FF&E expenditures for the Hotel Property for the immediately preceding 12-month period and an estimate of the Capital Expenditures and FF&E expenditures for the upcoming 12-month period, certified by Borrower's control;
(x) a tenant estoppel certificate and subordination, non-disturbance and attornment agreement in forms reasonably acceptable to the Agents from each tenant of the Hotel Property which has a Material Lease;
(xi) certificates and policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 5.10 hereof, provided that for the required earthquake insurance for the Initial Properties the policy or policies for such earthquake insurance need only be delivered within 30 days of the date of this Agreement;
(xii) a written opinion of the Borrower's counsel or counsels covering such matters relating to the Property Owner, the Participating Lessee, the Hotel Property, the Security Documents, the Participating Lessee Documents as the Agents reasonably require;
(xiii) a Manager Consent; and
(vxiv) all other documents reasonably required by either Agent.
Appears in 1 contract
Samples: Credit Agreement (American General Hospitality Corp)
Documents and Information. The Administrative Agent shall have received each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative Agent:
(i) a copy of each of the following for such Hotel Property certified as true and correct by the Borrower:
A. If the Hotel Property is subject to an Approved Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If (A) if the Hotel Property is subject to an Approved Management Agreement, the Approved Management AgreementAgreement for the Hotel Property;
C. (B) if the Hotel Property is subject to an Approved Participating Lease, the Approved Participating Lease;
D. If (C) if the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease; and
E. If (D) if the Property Owner is not the Borrower, the Property Owner's ’s articles of incorporation, by-laws, partnership agreementsagreements or other charter documents, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Guaranty and Environmental Indemnity or Accession Agreement Agreement, as applicable, all certified to be true and complete by a duly authorized officer of such Property Owner;
(ii) if the Borrower has received an Environmental Report and a survey of the Real property condition report relating to such Hotel Property, a copy of such survey;
(iii) (A) a description of such Hotel Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, to the extent within the Borrower's ’s control, policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 hereof; and
(v) all other documents reasonably required by either the Administrative Agent, including but not limited to any franchise or “flag” agreements.
Appears in 1 contract
Samples: Senior Credit Agreement (Eagle Hospitality Properties Trust, Inc.)
Documents and Information. The Administrative Agent shall have received each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative Agent:
(i) a copy of each of the following for such Hotel Property certified as true and correct by the Borrower:
A. If the Hotel Property is subject to an Approved Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If (A) if the Hotel Property is subject to an Approved Management Agreement, the Approved Management AgreementAgreement for the Hotel Property;
C. (B) if the Hotel Property is subject to an Approved Participating Lease, the Approved Participating Lease;
D. If (C) if the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease; and
E. If (D) if the Property Owner is not the Borrower, the Property Owner's ’s articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Guaranty and Environmental Indemnity or Accession Agreement Agreement, as applicable, all certified to be true and complete by a duly authorized officer of such Property Owner;
(ii) if the Borrower has received a survey of the Real Property, a copy of such survey;
(iii) (A) a description of such Hotel Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, to the extent within the Borrower's ’s control, policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 hereof; and
(v) all other documents reasonably required by either the Administrative Agent.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)
Documents and Information. The Administrative Documentation Agent shall have received ------------------------- each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative AgentAgents:
(i) the original executed Property Security Documents and the Participating Lessee Documents (except for the Credit Card Agreements and the Depository Account Agreements with financial institutions other than the Cash Manager);
(ii) a copy of each of the following for such Hotel Property certified as true and correct by the BorrowerBorrower pursuant to a Property Certificate:
A. If the Hotel Property is subject to an Approved a Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If the Hotel Property is subject to an Approved Management Agreement, the Approved Management Agreement;
C. the Approved Participating Lease;
D. List of the Personal Property for such Hotel Property;
E. Acquisition Agreements;
F. A rent roll for the Hotel Property identifying all leased space within the Hotel Property, if any, the tenant, concessionaire or licensee (or if vacant, identified as vacant), the monthly rental payable (including any adjustments to operating expenses), the date through which rent is paid, the termination date of each such leases, concessions and licenses and a delinquency report.
G. The occupancy permit, if available;
H. If the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease;
I. The liquor license for such Hotel Property;
J. Liquor License Concession Agreement and any other agreements related to the liquor license(s); and
E. If the Property Owner is not the Borrower, the K. The Property Owner's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Accession Agreement Security Documents all certified to be true and complete by a duly authorized officer of such Property Owner;
L. The Participating Lessee's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Tenant Documents all certified to be true and complete by a duly authorized officer of such Property Owner;
(iiiii) if the Borrower has received a ALTA/ASCM survey of the Real Property, Property certified in a copy of such survey;
manner reasonably satisfactory to the Agents by a registered surveyor and dated no more than ninety (iii90) (A) a description of days prior to the date the Borrower desires that such Hotel Property be an Eligible Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, all financial statements related to the extent within Hotel Property (i) reasonably required by the Agents; or (ii) necessary to provide the Agents with a true and complete knowledge of the financial condition of the Hotel Property;
(v) an Environmental Report;
(vi) an Engineering Report;
(vii) if available, a set of as-built plans for the Hotel Property;
(viii) either (A) evidence from the applicable Governmental Authority of compliance with zoning for the Hotel Property, (B) a zoning endorsement to the Title Policy, (C) legal opinion of compliance with zoning for the Hotel Property in form reasonably acceptable to the Documentation Agent, or (D) other evidence of compliance with zoning for the Hotel Property reasonably acceptable to the Documentation Agent;
(ix) a summary list of the Capital Expenditures and FF&E expenditures for the Hotel Property for the immediately preceding 12-month period and an estimate of the Capital Expenditures and FF&E expenditures for the upcoming 12-month period, certified by Borrower's control;
(x) a tenant estoppel certificate and subordination, non-disturbance and attornment agreement in forms reasonably acceptable to the Agents from each tenant of the Hotel Property which has a Material Lease;
(xi) certificates and policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 5.10 hereof, provided that for the required earthquake insurance for the Initial Properties the policy or policies for such earthquake insurance need only be delivered within 30 days of the date of this Agreement;
(xii) a written opinion of the Borrower's counsel or counsels covering such matters relating to the Property Owner, the Participating Lessee, the Hotel Property, the Security Documents, the Participating Lessee Documents as the Agents reasonably require;
(xiii) a Manager Consent; and
(vxiv) all other documents reasonably required by either Agent.
Appears in 1 contract
Samples: Credit Agreement (American General Hospitality Corp)
Documents and Information. The Administrative Agent shall have ------------------------- received each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative Agent:
(i) a copy of each of the following for such Hotel Property certified as true and correct by the Borrower:
A. If the Hotel Property is subject to an Approved Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If if the Hotel Property is subject to an Approved Management Agreement, the Approved Management AgreementAgreement for the Hotel Property;
C. B. the Approved Participating Lease;
D. If C. if the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease; and
E. If D. if the Property Owner is not the Borrower, the Property Owner's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Accession Agreement all certified to be true and complete by a duly authorized officer of such Property Owner;
(ii) if the Borrower has received a survey of the Real Property, a copy of such survey;
(iii) (A) a description of such Hotel Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, to the extent within the Borrower's control, policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 hereof; and
(v) all other documents reasonably required by either the Administrative Agent.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)
Documents and Information. The Administrative Agent shall have received each of the following executed by the Borrower, the Property Owner or other appropriate person, in form and substance reasonably satisfactory to the Administrative Agent:
(i) a copy of each of the following for such Hotel Property certified as true and correct by the Borrower:
A. If the Hotel Property is subject to an Approved Franchise Agreement, the Approved Franchise Agreement and any requirements or conditions imposed by the Approved Franchisor at such time in connection with the Approved Franchise Agreement, including without limitation any requirements with respect to Capital Expenditures or expenditures for FF&E for the Hotel Property;
B. If if the Hotel Property is subject to an Approved Management Agreement, the Approved Management AgreementAgreement for the Hotel Property;
C. B. the Approved Participating Lease;
D. If C. if the Hotel Property is subject to a Qualified Ground Lease, the Qualified Ground Lease; and
E. If D. if the Property Owner is not the Borrower, the Property Owner's articles of incorporation, by-laws, partnership agreements, as applicable, and certificates of existence, good standing and authority to do business from each appropriate state authority, and partnership or corporate, as applicable, authorizations authorizing the execution, delivery and performance of the Accession Agreement all certified to be true and complete by a duly authorized officer of such Property Owner;
(ii) if the Borrower has received a survey of the Real Property, a copy of such survey;
(iii) (A) a description of such Hotel Property, such description to include the age, location and number of rooms or suites of such Hotel Property, and (B) to the extent available, statistics with respect to the occupancy of the Hotel Property, operating statements, and an analysis of the revenue per available room, in each case for the three (3) prior Fiscal Years and the completed Fiscal Quarters of the current Fiscal Year;
(iv) certificates and, to the extent within the Borrower's control, policies of insurance evidencing that the Hotel Property is covered by the insurance required pursuant to Section 5.07 hereof; and
(v) all other documents reasonably required by either the Administrative Agent.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)