Lessee Officer and Employee Limitation. If a Person serves as both (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 16 contracts
Samples: Hotel Lease Agreement, Hotel Lease Agreement (Apple REIT Eight, Inc.), Hotel Lease Agreement (Apple REIT Nine, Inc.)
Lessee Officer and Employee Limitation. If a Person serves as both (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 11 contracts
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement (Moody National REIT I, Inc.)
Lessee Officer and Employee Limitation. If a Person serves as both (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx Xxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 8 contracts
Samples: Hotel Lease Agreement (Apple Reit Six Inc), Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Reit Six Inc)
Lessee Officer and Employee Limitation. If a Person serves as both (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the 52 Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 4 contracts
Samples: Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Ten, Inc.)
Lessee Officer and Employee Limitation. If a Person serves as both -------------------------------------- (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx Xxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 2 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Lessee Officer and Employee Limitation. If a Person serves as both --------------------------------------- (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx Xxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Hotel Lease Agreement (Apple Suites Inc)
Lessee Officer and Employee Limitation. If a Person serves as both (a) a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) and (b) an officer (or employee) of the Lessor that Person shall not receive any compensation for serving as a director of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property). Furthermore, if a Person serves as both (a) a director of the Lessor and (b) an officer (or employee) of Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessor. No Person, other than Xxxxxx Gxxxx X. Xxxxxx, shall serve as an officer (or employee) of both Lessor and Lessee.
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