Tax Fair Market Value. The Allocated Loan Amount with respect to each Individual Property does not exceed the Tax Fair Market Value of such Individual Property. The Loan Amount does not exceed the aggregate Tax Fair Market Values of the Individual Properties. If any Note is significantly modified prior to the closing date of a Secondary Market Transaction so as to result in a taxable exchange under Code Section 1001, Borrowers will, if requested by Lender, represent that the amount of such Note does not exceed the aggregate Tax Fair Market Value of the applicable Individual Property as of the date of such significant modification.
Appears in 16 contracts
Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Tax Fair Market Value. The Allocated Loan Amount with respect to each Individual Property does not exceed the Tax Fair Market Value of such Individual Property. The Loan Amount does not exceed the aggregate Tax Fair Market Values of the Individual Properties. If any the Note is significantly modified prior to the closing date of a Secondary Market Transaction so as to result in a taxable exchange under Code Section 1001, Borrowers will, if requested by Lender, represent that the amount of such Note does not exceed the aggregate Tax Fair Market Value of the applicable Individual Property as of the date of such significant modification.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
