Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following: (a) Indebtedness of Tenant to Landlord; (b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8; (c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review; (d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or (e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business; (f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or (g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 6 contracts
Samples: Lease Agreement (TravelCenters of America Inc. /MD/), Lease Agreement (TravelCenters of America Inc. /MD/), Lease Agreement (TravelCenters of America Inc. /MD/)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 4 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Candlewood Hotel Co Inc), Master Lease Agreement (Hospitality Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured Unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or;
(g) A guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 4 contracts
Samples: Master Lease Agreement (Five Star Quality Care Inc), Master Lease Agreement (Senior Housing Properties Trust), Master Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities indebtedness incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness , including the leasing of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtpersonal property.
Appears in 3 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured Unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 3 contracts
Samples: Master Lease Agreement (Five Star Quality Care Inc), Master Lease Agreement (Five Star Quality Care Inc), Master Lease Agreement (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness indebtedness except the following:
(ai) Indebtedness indebtedness of Tenant to LandlordLandlord or to Manager under the Management Agreement;
(bii) Indebtedness indebtedness of Tenant for Impositionscurrent taxes, assessments, governmental charges of levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8Paragraph 26;
(ciii) Indebtedness indebtedness of Tenant in respect of judgments or awards (iA) either (x) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (iiy) which are fully covered by insurance payable to Tenant, Tenant or (iiiz) which are for an amount not in excess of $250,000 250,000, in the aggregate aggregate, at any one time outstanding outstanding, and (B) either (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8Paragraph 26, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(div) unsecured borrowings of Tenant from any Related Party (other than Landlord or its Affiliated Persons Affiliates) which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; orLease;
(ev) Indebtedness indebtedness for purchase money financing of goods and services in accordance with Section 21.8(aexcess of Two Hundred Fifty Thousand Dollars ($250,000) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor , subject to Landlord's consent, which shall not be unreasonably withheld or borrower secured by Liens permitted under Section 21.8(c)delayed; or
(gvi) A guaranty other indebtedness incurred in the ordinary course of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtbusiness.
Appears in 3 contracts
Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Brookdale Senior Living Inc.)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured Unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c);
(g) Indebtedness of Tenant permitted under Master Lease Agreement No. 1; or
(gh) A guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 2 contracts
Samples: Master Lease Agreement (Senior Housing Properties Trust), Master Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article ARTICLE 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article ARTICLE 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section SECTION 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section SECTION 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 2 contracts
Samples: Lease Agreement (Travelcenters of America LLC), Lease Agreement (Hospitality Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or.
(g) A a guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 2 contracts
Samples: Lease Agreement (Senior Housing Properties Trust), Lease Agreement (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to LandlordLandlord ;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;; and
(fe) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtto Facility Mortgagee.
Appears in 2 contracts
Samples: Master Lease Agreement (Senior Housing Properties Trust), Master Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.10(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 2 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Candlewood Hotel Co Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 2 contracts
Samples: Master Lease Agreement (Senior Housing Properties Trust), Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCATA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 2 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Travelcenters of America LLC)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;; 50 52
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 500,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Samples: Lease Agreement (Sholodge Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured Unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c);
(g) Indebtedness of Tenant permitted under Master Lease Agreement No. 3; or
(gh) A guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 1 contract
Samples: Master Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. None of Tenant or the Permitted Subtenants shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositionstaxes, assessments, governmental charges or levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 10,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) or goods and other operating liabilities services incurred in the ordinary course of Tenant’s business;; or
(f) Indebtedness permitted pursuant to the terms of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt6.2.1.
Appears in 1 contract
Samples: Master Lease Agreement (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 500,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness Deferred fees to the Manager as provided in the Management Agreement, provided that such fees shall be, from and after the occurrence of Tenant as guarantor a Default or borrower secured by Liens permitted under Section 21.8(c)Event of Default, subordinate to all amounts owing to Landlord; or
(g) A guaranty Indebtedness of TCA’s obligations under its revolving line of credit and for any privately placed Wyndham secured by a Leasehold Mortgage or publicly issued debtotherwise guaranteed by Tenant.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness indebtedness except the following:
(ai) Indebtedness indebtedness of Tenant to LandlordLandlord or to the Manager under the Management Agreement;
(bii) Indebtedness indebtedness of Tenant for Impositionscurrent taxes, assessments, governmental charges of levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8Paragraph 26;
(ciii) Indebtedness indebtedness of Tenant in respect of judgments or awards (iA) either (x) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (iiy) which are fully covered by insurance payable to Tenant, Tenant or (iiiz) which are for an amount not in excess of $250,000 250,000, in the aggregate aggregate, at any one time outstanding outstanding, and (B) either (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8Paragraph 26, and in respect of which execution thereof shall have been stayed pending such appeal or review;; Property Lease Agreement Williamsburg
(div) unsecured borrowings of Tenant from any Related Party (other than Landlord or its Affiliated Persons Affiliates) which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; orLease;
(ev) Indebtedness indebtedness for purchase money financing of goods and services in accordance with Section 21.8(aexcess of Two Hundred Fifty Thousand Dollars ($250,000) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor , subject to Landlord's consent, which shall not be unreasonably withheld or borrower secured by Liens permitted under Section 21.8(c)delayed; or
(gvi) A guaranty other indebtedness incurred in the ordinary course of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtbusiness.
Appears in 1 contract
Samples: Property Lease Agreement (Brookdale Senior Living Inc.)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCATA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(e) Indebtedness incurred to finance the acquisition of equipment or personal property acquired in accordance with Section 6.1; provided that (i) the terms of such Indebtedness permit assumption by Landlord or an Affiliated Person thereof, and are otherwise approved by Landlord in writing (which approval shall not be unreasonably withheld, delayed or conditioned), and (ii) any Lien securing such Indebtedness is permitted by Section 20.9(a); and
(f) Indebtedness fees payable to the Manager pursuant to the Management Agreement; provided however that (i) no fees shall be paid to the Manager upon the occurrence and during the continuance of Tenant as guarantor a Default or borrower secured by Liens permitted under Section 21.8(c); or
Event of Default and (gii) A guaranty such fees shall be fully subordinated in right of TCA’s obligations under its revolving line payment the payment of credit and for any privately placed or publicly issued debtRent hereunder.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCAFive Star’s obligations under its revolving line of credit and for any privately placed or publicly issued debtcredit.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) unsecured Indebtedness of Tenant, other than for money borrowed incurred in the ordinary course of business;
(c) Indebtedness of Tenant for Impositionstaxes, assessments, governmental charges or levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(cd) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder thereunder, or (yiv) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(de) unsecured borrowings of Tenant from its Affiliated Persons Affiliates which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s businessLeases;
(f) Indebtedness (including without limitation, accrued and unpaid management fees) of Tenant owed to GranCare or any wholly-owned Subsidiary of GranCare, provided that the payment of such Indebtedness shall be subject to the terms of a subordination agreement among Tenant as guarantor debtor, GranCare or borrower secured by Liens permitted such wholly-owned Subsidiary as subordinate creditor and HRP as senior creditor, which subordination agreement shall be satisfactory to HRP in its sole and absolute discretion.
(g) Indebtedness of Tenant to Samaritan Arizona, Samaritan California and Samaritan South Dakota under Section 21.8(c)7.2 of those certain Tenant Purchase and Sale Agreement, dated as of May 29, 1992, by and among Tenant, Samaritan Arizona and such affiliates. This Master Lease Document shall not affect the validity, or in any other way, interfere with or adversely affect, the indemnification and hold harmless clauses appearing in those various agreements.
(h) Indebtedness incurred to finance the purchase price of Tenant's Personal Property or replacements to the Leased Personal Property; or
(gi) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtIndebtedness expressly consented to in writing by Landlord.
Appears in 1 contract
Samples: Master Lease Document (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Samples: Master Lease Agreement (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) unsecured Indebtedness of Tenant, other than for money borrowed, incurred in the ordinary course of business;
(c) Indebtedness of Tenant for Impositionstaxes, assessments, governmental charges or levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(cd) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of (x) $250,000 5,000,000 in the aggregate at any one time outstanding for all Tenants or (y) $250,000 individually, and (xA) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder thereunder, or (yB) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(de) unsecured borrowings Indebtedness (including without limitation, accrued and unpaid management fees) of Tenant from its Affiliated Persons which are by their owed to IHS or any wholly-owned Subsidiary of IHS, provided that the payment of such Indebtedness shall be subject to the terms expressly subordinate pursuant to of a Subordination Agreement among Tenant as debtor, IHS or such wholly-owned Subsidiary as subordinate creditor and Landlord as senior creditor, which subordination agreement shall be satisfactory to the payment Landlord in its sole and performance of Tenant’s obligations under this Agreementabsolute discretion; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens security interests permitted under by paragraph (a) of Section 21.8(c)23.12, which Indebtedness is obtained from a Lending Institution that is not an Affiliate of Tenant; provided that at the time of incurrence thereof and after giving effect thereto, Tenant, on a pro forma basis, would have had a ratio of current assets to current liabilities, determined in accordance with GAAP, of at least 1 to 1, if such Indebtedness had been outstanding on the last day of the most recently completed fiscal quarter of Tenant and any Indebtedness which is to be satisfied with the proceeds of such Indebtedness had been satisfied as of such day; or
(g) A guaranty Indebtedness of TCA’s obligations under its revolving line Tenant as guarantor of credit or co-borrower with IHS or any Subsidiary thereof, secured by security interests permitted by paragraph (b) of Section 23.12, which Indebtedness is obtained from a Lending Institution that is not an Affiliate of Tenant; provided that at the time of incurrence thereof and for any privately placed or publicly issued debtafter giving effect thereto, no Event of Default shall have occurred and be continuing; or
(h) Indebtedness of Tenant expressly consented to in writing by Landlord.
Appears in 1 contract
Samples: Master Lease Agreement (Senior Housing Properties Trust)
Indebtedness of Tenant. Tenant shall not create, incur, assume or ---------------------- guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;; ---------
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall --------- have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary --------------- course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article ARTICLE 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article ARTICLE 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section SECTION 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section SECTION 21.8(c); or
(g) A guaranty of TCA’s 's obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume ---------------------- or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;; ---------
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of --------- which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course --------------- of Tenant’s 's business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness indebtedness except the following:
(ai) Indebtedness indebtedness of Tenant to LandlordLandlord or the Manager under the Management Agreement;
(bii) Indebtedness indebtedness of Tenant for Impositionscurrent taxes, assessments, governmental charges of levies, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8Paragraph 26;
(ciii) Indebtedness indebtedness of Tenant in respect of judgments or awards (iA) either (x) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (iiy) which are fully covered by insurance payable to Tenant, Tenant or (iiiz) which are for an amount not in excess of $250,000 250,000, in the aggregate aggregate, at any one time outstanding outstanding, and (B) either (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8Paragraph 26, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(div) unsecured borrowings of Tenant from any Related Party (other than Landlord or its Affiliated Persons Affiliates) which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; orLease;
(ev) Indebtedness indebtedness for purchase money financing of goods and services in accordance with Section 21.8(aexcess of Two Hundred Fifty Thousand Dollars ($250,000) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor , subject to Landlord's consent, which shall not be unreasonably withheld or borrower secured by Liens permitted under Section 21.8(c)delayed; or
(gvi) A guaranty other indebtedness incurred in the ordinary course of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debtbusiness.
Appears in 1 contract
Samples: Property Lease Agreement (Brookdale Senior Living Inc.)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article ARTICLE 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article ARTICLE 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section SECTION 21.8(a) and other operating liabilities incurred in the ordinary course of Tenant’s 's business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section SECTION 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Samples: Master Lease Agreement (Five Star Quality Care Inc)
Indebtedness of Tenant. Tenant shall not create, incur, assume or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s obligations under this Agreement; or
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.8 (a) and other operating liabilities incurred in the ordinary course of Tenant’s business;; or
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.
Appears in 1 contract
Indebtedness of Tenant. Tenant shall not create, incur, assume ---------------------- or guarantee, or permit to exist, or become or remain liable directly or indirectly upon, any Indebtedness except the following:
(a) Indebtedness of Tenant to Landlord;
(b) Indebtedness of Tenant for Impositions, to the extent that payment thereof shall not at the time be required to be made in accordance with the provisions of Article 8;; ---------
(c) Indebtedness of Tenant in respect of judgments or awards (i) which have been in force for less than the applicable appeal period and in respect of which execution thereof shall have been stayed pending such appeal or review, or (ii) which are fully covered by insurance payable to Tenant, or (iii) which are for an amount not in excess of $250,000 in the aggregate at any one time outstanding and (x) which have been in force for not longer than the applicable appeal period, so long as execution is not levied thereunder or (y) in respect of which an appeal or proceedings for review shall at the time be prosecuted in good faith in accordance with the provisions of Article 8, and in respect of --------- which execution thereof shall have been stayed pending such appeal or review;
(d) unsecured borrowings of Tenant from its Affiliated Persons which are by their terms expressly subordinate pursuant to a Subordination Agreement to the payment and performance of Tenant’s 's obligations under this Agreement; or;
(e) Indebtedness for purchase money financing in accordance with Section 21.8(a21.9(a) and other operating liabilities incurred in the ordinary course of Tenant’s business;
(f) Indebtedness of Tenant as guarantor or borrower secured by Liens permitted under Section 21.8(c); or
(g) A guaranty of TCA’s obligations under its revolving line of credit and for any privately placed or publicly issued debt.---------------
Appears in 1 contract