Common use of Leasing Arrangements Clause in Contracts

Leasing Arrangements. The only leases of Real Property for which -------------------- either the Borrower or a Guarantor is a lessee are the Ground Leases. The Borrower or Guarantor which executes the Mortgage for a Real Property subject to a Ground Lease is the lessee under such Ground Lease and no consent is necessary to such Person being the lessee under such Ground Lease which has not already been obtained. The Ground Leases are in full force and effect and no defaults exist thereunder. The only participating leases burdening the Hotel Properties are the Participating Leases. The Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.

Leasing Arrangements. The only leases of Real Property for -------------------- which -------------------- either the Borrower or a Guarantor is a lessee are the Ground Leases. The Borrower or Guarantor which executes the Mortgage for a Real Property subject to a Ground Lease is the lessee under such Ground Lease and no consent is necessary to such Person being the lessee under such Ground Lease which has not already been obtained. The Ground Leases are in full force and effect and no defaults exist thereunder. The only participating leases burdening the Hotel Properties are the Participating Leases. The Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.

Leasing Arrangements. The only material leases of Real -------------------- Property for which -------------------- either the Borrower or a Guarantor is a lessee are the Ground Leases. The Borrower or Guarantor which executes the Mortgage Property Owner for a Real Property subject to a Ground Lease ground lease is the lessee under such Ground Lease ground lease and no consent is necessary to such Person being the lessee under such Ground Lease ground lease which has not already been obtained. The Ground Leases are in full force and effect and no defaults exist thereunder. The only participating material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Participating Leases. The Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.

Leasing Arrangements. The only material leases of Real -------------------- Property for which -------------------- either the Borrower or a Guarantor is a lessee are the Ground Leases. The Borrower or Guarantor which executes the Mortgage Property Owner for a Real Property subject to a Ground Lease is the lessee under such Ground Lease and no consent is necessary to such Person being the lessee under such Ground Lease which has not already been obtained. The Ground Leases are in full force and effect and no defaults exist thereunder. The only participating material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Participating Leases. The Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.