Common use of Operation of Premises Clause in Contracts

Operation of Premises. Subject to the provisions of Section 5.5 hereof, except for portions of any Mortgaged Property which are to be demolished in the course of construction of an extended stay facility and related ancillary facilities thereon, each Mortgaged Property is being operated and maintained in accordance with the Borrower's usual and customary business practices.

Appears in 2 contracts

Samples: Credit Agreement (Homestead Village Inc), Credit Agreement (Homestead Village Inc)

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Operation of Premises. Subject to the provisions of Section 5.5 hereof, except for portions of any Mortgaged Property which are to be demolished in the course of construction of an extended stay facility and related ancillary facilities thereon, each Mortgaged Property is being operated and maintained in accordance with the Borrower's usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Homestead Village Inc)

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Operation of Premises. Subject to the provisions of Section 5.5 hereof, except for portions of any Mortgaged Property which are to be demolished in the course of construction of an extended stay facility and such related ancillary facilities thereon, each Mortgaged Property is being operated and maintained in accordance with the Borrower's usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Homestead Village Inc)

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