Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 35 contracts
Samples: Hotel Lease Agreement (Moody National REIT II, Inc.), Hotel Lease Agreement, Hotel Lease Agreement (Moody National REIT II, Inc.)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 14 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Hospitality Five Inc), Lease Agreement (Itt Corp /Nv/)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 10 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property or enter into any similar arrangement on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any b)any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 9 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property or enter into any similar arrangement on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 4 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (American General Hospitality Corp), Stock Purchase Agreement (Keystone Inc Et Al)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or of profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent rent payable hereunder would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the CodeInternal Revenue Code of 1986, or any similar or successor provision provisions thereto.
Appears in 3 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 3 contracts
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc), Lease Agreement (Highland Hospitality Corp)
Sublease Rent Limitation. Anything contained in this Lease to the ------------------------ contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 3 contracts
Samples: Lease Agreement (Humphrey Hospitality Trust Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula (if as a result of such that a sublease based on (a) and/or (b) above, any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto).
Appears in 3 contracts
Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ai) the income or profits derived by the business activities of the sublessee, or (bii) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision provisions thereto.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Boykin Lodging Co), Percentage Lease Agreement (Red Lion Inns Limited Partnership)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent rent payable hereunder would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Tax Code, or any similar or successor provision provisions thereto.
Appears in 2 contracts
Samples: Lease Agreement (Crescent Operating Inc), Lease Agreement (Crescent Operating Inc)
Sublease Rent Limitation. Anything contained in this Lease to the ------------------------- contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Hotel Lease Agreement (Apple Suites Inc)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ai) the income or profits derived by the business activities of the sublessee, or (bii) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Realty Refund Trust), Percentage Lease Agreement (Boykin Lodging Trust Inc)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.the
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent rent payable hereunder would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Tax Code, or any similar or successor provision provisions thereto.
Appears in 1 contract
Samples: Lease Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property or any part thereof on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.real
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property or enter into any similar arrangement on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business -58- 149 activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Prime Hospitality Corp)
Sublease Rent Limitation. Anything contained in this Lease to the ------------------------ contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Sublease Rent Limitation. Anything contained in this Master Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublesseeany Person, or (b) any other formula such that any portion of the Rent would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to ------------------------ the contrary notwithstanding, Lessee shall not sublet the Leased Property or enter into any similar arrangement on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Sublease Rent Limitation. Anything contained in this Lease to the ------------------------ contrary notwithstanding, Lessee shall not sublet the Leased Property or any part thereof on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property or enter into any similar arrangement on any basis such that the rental or other amounts to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the net income 59 66 or profits derived by the business activities of the sublessee, or (b) any b)any other formula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Sublease Rent Limitation. Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ai) the income or profits derived by the business activities of the sublessee, or (bii) any other formula fonnula such that any portion of the Rent would fail to qualify as “"rents from real property” " within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.
Appears in 1 contract
Samples: Percentage Lease Agreement (South Seas Properties Co LTD Partnership)