Common use of Lessee Officer and Employee Limitation Clause in Contracts

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 Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) shall be officers or employees of Lessor, (or any Person who serves as an advisor of Lessor). In addition, if a Person serves as both (a) a director of the 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) a director and officer (or employee) of Lessor, (or any Person who serves as an advisor of Lessor) that Person shall not receive any compensation for serving as a director of the Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property).

Appears in 3 contracts

Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)

AutoNDA by SimpleDocs

Lessee Officer and Employee Limitation. Anything contained in this Lease to the contrary notwithstanding, none If a Person serves as both (a) a director of the officers or employees of the Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property) shall be officers and (b) a trust manager and officer (or employees employee) of Lessor, that Person shall not receive any compensation for serving as a director of Lessee (or any Person who serves as an advisor furnishes or renders services to the tenants of Lessorthe Leased Property, or manages or operates the Leased Property). In additionFurthermore, if a Person serves as both (a) a trust manager of Lessor and (b) a director and officer (or employee) of the 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) a director and officer (or employee) of Lessor, (or any Person who serves as an advisor of Lessor) that Person shall not receive any compensation for serving as a director of the Lessee (or any Person who furnishes or renders services to the tenants of the Leased Property, or manages or operates the Leased Property).. - 42 - 70 ARTICLE XIX

Appears in 1 contract

Samples: Master Lease Agreement (PMC Commercial Trust /Tx)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!