Interest or Other Obligation Payment. The Borrower shall fail to pay any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;
Appears in 16 contracts
Samples: Pledge and Security Agreement (LaSalle Hotel Properties), Pledge and Security Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Interest or Other Obligation Payment. The Borrower shall fail to pay ------------------------------------ any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;
Appears in 2 contracts
Samples: Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)
Interest or Other Obligation Payment. The Borrower or any Guarantor shall fail to pay any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement; provided, provided however however, that the Borrower and the Guarantors will have a grace period of five ten days after the payments covered by this Section 8.01(b9.01(b) becomes due and payable for the first two defaults of such Persons collectively under this Section 8.01(b9.01(b) in every calendar year;
Appears in 2 contracts
Samples: Revolving Credit Agreement (Meristar Hotels & Resorts Inc), Revolving Credit Agreement (Meristar Hospitality Corp)
Interest or Other Obligation Payment. The Borrower shall fail to pay any interest on any Note or any fee or other amount payable required to be paid hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;
Appears in 2 contracts
Samples: Senior Secured Term Loan Agreement (Seritage Growth Properties), Senior Unsecured Term Loan Agreement (Seritage Growth Properties)
Interest or Other Obligation Payment. The Borrower shall fail to ------------------------------------ pay any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;
Appears in 1 contract
Interest or Other Obligation Payment. The Borrower shall fail to pay any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a 50 grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;
Appears in 1 contract
Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)
Interest or Other Obligation Payment. The Borrower shall fail to pay ------------------------------------ any interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b7.01(b) becomes due and payable for the first two defaults under this Section 8.01(b7.01(b) in every calendar year;
Appears in 1 contract
Samples: Credit Agreement (American General Hospitality Corp)
Interest or Other Obligation Payment. The Borrower shall fail to pay any ------------------------------------ interest on any Note or any fee or other amount payable hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b7.01(b) becomes due and payable for the first two defaults under this Section 8.01(b7.01(b) in every calendar year;
Appears in 1 contract
Samples: Management Agreement (American General Hospitality Corp)
Interest or Other Obligation Payment. The Borrower shall fail to pay any interest on any Note or any fee or other amount payable required to be paid hereunder or under any other Credit Document when the same becomes due and payable as set forth in this Agreement, provided however that the Borrower will have a grace period of five days after the payments covered by this Section 8.01(b) becomes due and payable for the first two defaults under this Section 8.01(b) in every calendar year;; (c)
Appears in 1 contract
Samples: Guarantee and Collateral Agreement