OPERATING LESSEE Sample Clauses

OPERATING LESSEE. DTRS SCOTTSDALE, L.L.C, a Delaware limited liability company By: /s/ Xxxx X. Xxxxx Name: Xxxx X. Xxxxx Title: Assistant Treasurer [Lender’s signature appears on following page] LENDER: CITIGROUP GLOBAL MARKETS REALTY CORP., a New York corporation By: /s/ Xxxx Xxxxxxxx Name: Xxxx Xxxxxxxx
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OPERATING LESSEE. DTRS SANTA XXXXXX, L.L.C., a Delaware limited liability company By: /s/ Xxxx X. Xxxxx Name: Xxxx X. Xxxxx Title: Vice President & Treasurer LENDER: JPMORGAN CHASE BANK N.A., a banking association chartered under the laws of the United States of America By: /s/ Xxxxxxx Xxxxxx Name: Xxxxxxx Xxxxxx Title: VP EXHIBIT A TITLE INSURANCE REQUIREMENTS, ENDORSEMENTS AND AFFIRMATIVE COVERAGES
OPERATING LESSEE. Operating Lessee will, at the time of Closing, be an Affiliate of Seller. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE ASSETS ARE HEREBY SOLD ON AN “AS IS, WHERE IS, WITH ALL FAULTS” BASIS AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS ANY WARRANTIES, REPRESENTATIONS, COVENANTS, OR GUARANTEES, EITHER EXPRESS OR IMPLIED, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, AS TO THE MERCHANTABILITY, QUANTITY, QUALITY, ENVIRONMENTAL CONDITION, OR PHYSICAL CONDITION OF THE ASSETS OR THEIR SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR USE. Purchaser acknowledges that the individuals referenced in the definition of “Seller’s Knowledge” are named solely for the purpose of defining and narrowing the scope of Seller’s Knowledge and not for the purpose of imposing any liability on or creating any duties running from such individuals to Purchaser. Purchaser covenants that it will bring no action of any kind against such individuals or any member of a Seller related to or arising out of the representations and warranties set forth in this Section 5.1.
OPERATING LESSEE. LF3 LUBBOCK CASA TRS, LLC, a Delaware limited liability company By: Lodging Fund REIT III TRS, Inc., a Delaware corporation, as its Sole Member By: Lodging Fund REIT III OP, LP, a Delaware limited partnership, as its Sole Shareholder By: Lodging Fund REIT III, Inc., a Maryland corporation, as its General Partner By: /s/ Xxxxx Xxx Name: Xxxxx Xxx Title: Chief Financial Officer FEE BORROWER: LF3 LUBBOCK CASA, LLC, a Delaware limited liability company By: Lodging Fund REIT III OP, LP, a Delaware limited partnership, as its Sole Member By: Lodging Fund REIT III, Inc., a Maryland corporation, as its General Partner By: /s/ Xxxxx Xxx Name: Xxxxx Xxx Title: Chief Financial Officer
OPERATING LESSEE. Borrower acknowledges that its responsibilities hereunder to cause the Operating Lessee to take action or to not take action (the “Operating Lessee Obligations”) are absolute and not contingent on Operating Lessee agreeing to take or not take such actions. Borrower shall have no cure periods (other than those cure periods specifically provided for in the Loan Documents) with respect to such the Operating Lessee Obligations and Xxxxxxxx’s failure to comply with the Operating Lessee Obligations hereunder shall have the same force and effect as if the action (or failure to act) of the Operating Lessee was performed (or not performed, as applicable) by Borrower.
OPERATING LESSEE. With respect to Operating Lessee’s operation of the Properties, Borrower shall cause each Operating Lessee to comply with all of the negative covenants set forth in this Agreement, and no default hereunder shall be excused by virtue of the fact that such default was caused by an Operating Lessee (by way of example, if any Operating Lessee initiated a zoning change not permitted hereunder, the same shall constitute a violation of Section 6.16).
OPERATING LESSEE. Operating Lessee is a duly organized, validly existing limited liability company in good standing under the laws of the State of Delaware and is qualified to transact business in the State of Texas. Lodging Fund REIT III TRS, Inc. ("Operating Lessee Member") is the sole member of Operating Lessee. Operating Lessee Member, acting alone without the joinder of any other manager or member of Operating Lessee or any other party, has the power and authority to execute this Agreement on behalf of and to duly bind Operating Lessee under this Agreement and the Loan Documents. The execution and delivery of, and performance under, this Agreement and the Loan Documents by Operating Lessee have been duly and properly authorized pursuant to all requisite limited liability company action of Operating Lessee and will not (x) violate any provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to Operating Lessee or the articles of organization, certificate of formation, operating agreement, limited liability company agreement, or any other organizational document of Operating Lessee or (y) result in a breach of or constitute or cause a default under any indenture, agreement, lease or instrument to which Operating Lessee is a party or by which the Property may be bound or affected.
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OPERATING LESSEE. Acknowledged and agreed to with respect to its obligations set forth in Articles 4, 5 and 6 hereof and Section 2.13: ASHFORD TRS NICKEL LLC By: /S/ XXXXX X. XXXXXXXX Xxxxx X. Xxxxxxxx President and Secretary
OPERATING LESSEE. 1, 7 Operating Revenues.............................................................

Related to OPERATING LESSEE

  • Operating Lease The parties hereto intend that this Lease shall be deemed for all purposes to be an operating lease and not a capital lease.

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Borrower The term “Borrower” as used herein shall include any new or successor corporation, association, partnership (general or limited), limited liability company, joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower or any interest in Borrower.

  • Mortgagor The obligor on a Mortgage Note. ---------

  • Borrower’s Subsidiaries Borrower does not presently have any Subsidiary or own any stock in any other corporation or association except those listed in the Disclosure Schedule. Neither Borrower nor any Restricted Person is a member of any general or limited partnership, joint venture or association of any type whatsoever except those listed in the Disclosure Schedule. Borrower owns, directly or indirectly, the equity interest in each of its Subsidiaries which is indicated in the Disclosure Schedule.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

  • Real Estate Documents With respect to each parcel of real property owned by any Borrower, if any, a duly executed Mortgage providing for a fully perfected Lien, in favor of the Agent, in all right, title and interest of such Borrower in such real property, together with:

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Ground Lease Reserved.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

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