Observance of Covenants. Owner JV shall have performed and observed, in all material respects, all covenants and agreements in this Agreement to be performed and observed by Owner JV as of the Closing Date, provided, however, for the avoidance of doubt, Owner JV shall not be deemed in breach of its covenants and agreements in this Agreement solely by reason of the failure to timely obtain the Foreign Investment Approvals due to any delay, the failure to act or the refusal to act on the part of any applicable governmental authority or agency of the People’s Republic of China as further provided for in Section 7.1(i)(iii) above.
Appears in 7 contracts
Samples: Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust)
