Eligible Independent Contractor. Manager agrees that, as of the date hereof, it is an eligible independent contractor under Section 856(d) of the Internal Revenue Code, and further agrees that it shall maintain such status to the extent it is able to do so, acknowledging that events outside of Manager's control may result in an overlap of ownership between Manager and Lessor or Lessee which could affect Manager's independent contractor status. Lessor, Manager and Lessee agree to cooperate in good faith to ensure that Manager retains such status. This covenant shall apply for so long as the Inn is owned by Lessor (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) and leased to Lessee (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) as part of an ownership structure that is subject to REIT tax requirements.
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Samples: Owner Agreement (Apple Hospitality Five Inc), Owner Agreement (Apple Hospitality Five Inc), Owner Agreement (Apple Hospitality Five Inc)
Eligible Independent Contractor. Manager agrees that, as of the date hereof, it is an eligible independent contractor under Section 856(d) of the Internal Revenue Code, and further agrees that it shall maintain such status to the extent it is able to do so, acknowledging that events outside of Manager's ’s control may result in an overlap of ownership between Manager and Lessor or Lessee which could affect Manager's ’s independent contractor status. Lessor, Manager and Lessee agree to cooperate in good faith to ensure that Manager retains such status. This covenant shall apply for so long as the Inn Hotel is owned by Lessor (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) and leased to Lessee (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) as part of an ownership structure that is subject to REIT tax requirements.
Appears in 3 contracts
Samples: Owner Agreement (Apple Reit Six Inc), Owner Agreement (Apple Reit Six Inc), Owner Agreement (Apple Reit Six Inc)
Eligible Independent Contractor. Manager agrees that, as of the date ------------------------------- hereof, it is an eligible independent contractor under Section 856(d) of the Internal Revenue Code, and further agrees that it shall maintain such status to the extent it is able to do so, acknowledging that events outside of Manager's control may result in an overlap of ownership between Manager and Lessor or Lessee which could affect Manager's independent contractor status. Lessor, Manager and Lessee agree to cooperate in good faith to ensure that Manager retains such status. This covenant shall apply for so long as the Inn is Inns are owned by Lessor (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) and leased to Lessee (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) as part of an ownership structure that is subject to REIT tax requirements.
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Eligible Independent Contractor. Manager agrees that, as of the ------------------------------- date hereof, it is an eligible independent contractor under Section 856(d) of the Internal Revenue Code, and further agrees that it shall maintain such status to the extent it is able to do so, acknowledging that events outside of Manager's control may result in an overlap of ownership between Manager and Lessor or Lessee which could affect Manager's independent contractor status. Lessor, Manager and Lessee agree to cooperate in good faith to ensure that Manager retains such status. This covenant shall apply for so long as the Inn is Inns are owned by Lessor (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignment) and leased to Lessee (or another direct or indirect wholly-owned subsidiary of Apple Hospitality pursuant to a permitted assignmentassignment ) as part of an ownership structure that is subject to REIT tax requirements.
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