Lessee Officer and Employee Limitation. Anything contained in this Lease to the contrary notwithstanding, none of the officers or employees of Lessee or any Lessee Affiliate shall be officers or employees of Manager (or any Person who operates or manages the Leased Property). In addition, if a Person serves as both (a) a director of Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving as a director of Lessee or any Lessee Affiliate. If a Person serves as both (i) director or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (ii) a director and officer (or employee) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee Affiliate.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Lessee Officer and Employee Limitation. Anything contained in this Lease to the contrary notwithstanding, none of the officers or employees of the Lessee or any Lessee Affiliate shall be officers or employees of Manager (or any Person who operates or manages the Leased Property). In addition, if a Person serves as both (a) a director of the Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessee or any Lessee Affiliate. If a Person person serves as both (ia) a director of Manager or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (iib) a director and officer (or employee) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee AffiliateManager.
Appears in 2 contracts
Samples: Lease Agreement (Summit Hotel OP, LP), Lease Agreement (RFS Hotel Investors Inc)
Lessee Officer and Employee Limitation. Anything contained in this Lease to the contrary notwithstanding, none of the officers or employees of the Lessee or any Lessee Affiliate shall be officers or employees of Manager (or any Person who operates or manages the Leased Property). In addition, if a Person serves as both (a) a director of the Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessee or any Lessee Affiliate. If a Person serves as both (ia) director or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (iib) a director and officer (or employee) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee Affiliate.
Appears in 1 contract
Lessee Officer and Employee Limitation. Anything contained in this Lease to the contrary notwithstanding, none of the officers or employees of the Lessee or any Lessee Affiliate shall be officers or employees of Manager (or any Person who operates or manages the Leased Property). 44 In addition, if a Person serves as both (a) a director of the Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving as a director of the Lessee or any Lessee Affiliate. If a Person serves as both (ia) director or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (iib) a director and officer (or employee) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee Affiliate.
Appears in 1 contract
Lessee Officer and Employee Limitation. Anything contained in this Master Lease to the contrary notwithstanding, none of the officers or employees of Lessee or any entity in which Lessee Affiliate has a direct or indirect ownership interest shall be officers or employees of a Manager (or any Person who operates or manages the Leased Property). In addition, if a Person serves as both (a) a director of Lessee or any Lessee Affiliate and (b) a director or trustee and officer (or employee) of Manager (or any Person who operates or manages the Leased Property), that Person shall not receive any compensation for serving servicing as a director of Lessee or any Lessee Affiliate. If a Person person serves as both (ia) a director of Manager or Manager of any Lessee Affiliate (or any Person who operates or manages the Leased Property) and (iib) a director and officer (or employeeemployee ) of Lessee, that Person shall not receive any compensation for serving as a director or Manager of such Lessee AffiliateManager.
Appears in 1 contract