Common use of Leasing Arrangements Clause in Contracts

Leasing Arrangements. The only material leases of Real Property for which either the Borrower or a Guarantor is a lessee are the Qualified Ground Leases. The Property Owner for a Real Property subject to a Qualified Ground Lease is the lessee under such Qualified Ground Lease and no consent is necessary to such Person being the lessee under such Qualified Ground Lease which has not already been obtained. The Qualified Ground Leases are in full force and effect and no defaults exist thereunder. The only material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Approved Participating Leases. The Approved 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 Qualified Ground Leases. The Property Owner for a Real Property subject to a Qualified Ground Lease is the lessee under such Qualified Ground Lease and no consent is necessary to such Person being the lessee under such Qualified Ground Lease which has not already been obtained. The Qualified Ground Leases are in full force and effect and no defaults exist thereunder. The only material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Approved Participating Leases. The Approved 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 Subsidiary is a lessee are the Qualified Ground Leasesground leases listed on Schedule 4.20 attached hereto. The Property Owner for a Real Property subject to a Qualified Ground Lease ground lease is the lessee under such Qualified Ground Lease ground lease and no consent is necessary to such Person being the lessee under such Qualified Ground Lease ground lease which has not already been obtained. The Qualified Ground Leases Such ground leases are in full force and effect and no defaults exist thereunder. The only material leases burdening the Hotel Properties for which the lessee is entitled to participate in the increased revenues of the Hotel Properties are the Approved Participating Leases. The Approved Participating Leases are in full force and effect and no defaults by the Borrower or any Subsidiary exist thereunder.