Common use of Purposes and Business Clause in Contracts

Purposes and Business. 2.4.1 The purpose and nature of the business of the Company shall be: (i) to directly or indirectly own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Contracts) the Existing Contracts; (ii) to own and hold ownership interests in the Existing Subsidiaries of the Company for the purpose of causing said subsidiaries to own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Subsidiary Contracts) the Existing Subsidiary Contracts to which they are a party; (iii) to exercise the rights and perform the obligations of the Company and to cause the Existing Subsidiaries to exercise their respective rights and perform their respective obligations under and pursuant to the Existing Contracts, including to act as managers and franchisees under such Existing Contracts or any renewals or replacements thereof with respect to the hotels referenced in such Existing Contracts; and (iv) to conduct all activities necessary or desirable to accomplish the foregoing purposes, including, without limitation, retaining such employees as the Managing Member deems reasonably necessary. 2.4.2 The Company shall not: (i) enter into or permit any Existing Subsidiary to enter into any contract or agreement other than as permitted under subsection 2.4.1; (ii) enter into or permit any Existing Subsidiary to enter into or conduct any business, other than as set forth subsection 2.4.1; (iii) create, acquire or retain any equity interest in any legal entity, other than the Existing Subsidiaries; or (iv) permit any Person other than the Company to have any ownership interest in any Existing Subsidiary.

Purposes and Business. 2.4.1 The purpose and nature of the business of the Company shall be: (i) to directly or indirectly own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Contracts) the Existing ContractsContracts and any such renewals or replacements; (ii) to own and hold ownership interests in the Existing Subsidiaries of the Company for the purpose of causing said subsidiaries to (a) own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Subsidiary Contracts) the Existing Subsidiary Contracts to which they are a partyparty and (b) provide certain ancillary services to the hotels subject to the Existing Contracts and the Existing Subsidiary Contracts and any such renewals or replacements; (iii) to exercise the rights and perform the obligations of the Company and to cause the Existing Subsidiaries to exercise their respective rights and perform their respective obligations under and pursuant to the Existing Contracts, including to act as managers and franchisees under such Existing Contracts or any renewals or replacements thereof with respect to the hotels referenced in such Existing Contracts; (iv) to own and hold ownership interests in entities owning and managing The Charxxx Xxxel Complex in Cambridge, Massachusetts; and (ivv) to conduct all activities necessary or desirable to accomplish the foregoing purposes, including, without limitation, including retaining such employees as the Managing Member deems reasonably necessary. 2.4.2 The Company shall not: (i) enter into or permit any Existing Subsidiary to enter into any contract or agreement other than as permitted under subsection 2.4.1; (ii) enter into or permit any Existing Subsidiary to enter into or conduct any business, other than as set forth under subsection 2.4.1; (iii) create, acquire or retain any equity interest in any legal entity, other than the Existing Subsidiaries; (iv) make any loans, investments or other similar payments other than loans, investments or other similar payments made for the benefit of the Company or the Existing Subsidiaries (which may include indirect benefits such as the renewal of an Existing Contract or an Existing Subsidiary Contract); or (ivv) permit any Person other than the Company to have any ownership interest in any Existing Subsidiary.

Purposes and Business. 2.4.1 The purpose and nature of the business of the Company shall be: (i) to directly or indirectly own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Contracts) the Existing Contracts; (ii) to own and hold ownership interests in the Existing Subsidiaries of the Company for the purpose of causing said subsidiaries to (a) own, hold, manage, terminate, extend, amend, amend and restate or otherwise modify, or renew or replace (provided such renewal or replacement relates solely to the hotels referenced in the Existing Subsidiary Contracts) the Existing Subsidiary Contracts to which they are a partyparty and (b) provide certain ancillary services to the hotels subject to the Existing Contracts and the Existing Subsidiary Contracts; (iii) to exercise the rights and perform the obligations of the Company and to cause the Existing Subsidiaries to exercise their respective rights and perform their respective obligations under and pursuant to the Existing Contracts, including to act as managers and franchisees under such Existing Contracts or any renewals or replacements thereof with respect to the hotels referenced in such Existing Contracts; (iv) to own and hold ownership interests in entities owning and managing The Charxxx Hotel Complex in Cambridge, Massachusetts; and (ivv) to conduct all activities necessary or desirable to accomplish the foregoing purposes, including, without limitation, retaining such employees as the Managing Member deems reasonably necessary. 2.4.2 The Company shall not: (i) enter into or permit any Existing Subsidiary to enter into any contract or agreement other than as permitted under subsection 2.4.1; (ii) enter into or permit any Existing Subsidiary to enter into or conduct any business, other than as set forth under subsection 2.4.1; (iii) create, acquire or retain any equity interest in any legal entity, other than the Existing Subsidiaries; (iv) make any loans, investments or other similar payments other than loans, investments or other similar payments made for the benefit of the Company or the Existing Subsidiaries (which may include, but shall not be limited to, indirect benefits such as the renewal of an Existing Contract or an Existing Subsidiary Contract); or (ivv) permit any Person other than the Company to have any ownership interest in any Existing Subsidiary.