Qualified Properties. In order for a Hotel to be eligible for inclusion in the Borrowing Base (an "QUALIFIED PROPERTY"), such Hotel shall have the following characteristics:
Qualified Properties. SECTION 8.01.
Qualified Properties. (a) (i) Borrower shall own at least seven (7) Qualified Properties at all times; (ii) no Qualified Property shall be subject to or encumbered by (A) any Indebtedness or any other Material Agreement that by its terms precludes the grant of the Collateral or the exercise by or on behalf of the Secured Creditors of remedies with respect to the Collateral, or (B) any Indebtedness other than Permitted Mortgage Indebtedness, (iii) no more than two Qualified Properties may include a condominium or timeshare component or otherwise be part of a condominium or similar development that includes a residential/hotel condominium, fractional interest or timeshare component, in any such case unless otherwise agreed by the Required Lenders, and (iv) the aggregate Gross Asset Value of all Qualified Properties held in Qualified Joint Ventures shall at no time exceed 25% of the aggregate Gross Asset Value in respect of all of the Qualified Properties.
Qualified Properties. 85 Section 7. BORROWER'S NEGATIVE COVENANTS....................................................... 85 7.1 Indebtedness; Contingent Obligations................................................ 85
Qualified Properties. Borrower shall at all times maintain at least twenty (20) Qualified Properties of which at least fifteen (15) shall not be subject to Ground Leases.
Qualified Properties. (a) Borrower shall own at least nine (9) Qualified Properties at all times that in the aggregate have at least 4,000 rooms. In the event that the Borrower shall own less than nine (9) Qualified Properties, in accordance with Section 2.2.2(b), the Facility will (i) permanently reduce to $75 million if the Borrower owns no more than eight (8) Qualified Properties, (ii) permanently reduce to $50 million if the Borrower owns no more than seven (7) Qualified Properties, (iii) permanently reduce to $25 million if the Borrower owns no more than six (6) Qualified Properties, and (iv) permanently reduce to zero if Borrower owns less than six (6)
Qualified Properties. A Property may cease to qualify as a Qualified Property, but may subsequently regain its status as a Qualified Property, provided, however, if the Facility has been permanently reduced in accordance with Section 2.2.2(b), the Facility shall not be increased as a result of such re-qualification.
Qualified Properties. In order for a Property to be eligible for inclusion in the Borrowing Base (a "Qualified Property"), such Property shall have the following characteristics:
Qualified Properties. SECTION 8.01. Qualified Term Notes108109 Article IX THE ADMINISTRATIVE AGENT SECTION 9.01. Authorization and Action113114 SECTION 9.02. Administrative Agent’s Reliance, Etc.114 SECTION 9.03. Citibank and Affiliates114115 SECTION 9.04. Lender Party Credit Decision114115 SECTION 9.05. Indemnification by Lender Parties115 SECTION 9.06. Successor Administrative Agent116 SECTION 9.07. Relationship of Administrative Agent and Lenders116117 Article X MISCELLANEOUS SECTION 10.01. Amendments, Etc117 SECTION 10.02. Notices, Etc118 SECTION 10.03. No Waiver; Remedies120 3
Qualified Properties. The sale, lease (except as permitted under this Agreement), exchange, conveyance, transfer, mortgage, assignment, pledge or encumbrance, either voluntarily or involuntarily, of any right, title or interest in and to any of the Qualified Properties or any portion thereof;
