Common use of Tax Law Change Clause in Contracts

Tax Law Change. Lessee may terminate this Agreement upon 60 days’ notice to Operator if Lessee ceases to be qualified as a real estate investment trust or if the United States tax laws change to allow a hotel REIT to self-manage its properties. In such event, Lessee shall pay Operator a termination fee equal to 50% of the Operator’s Fee paid to Operator during a number of months prior to the notice of termination equal to the lesser of 12 months or the number of months otherwise remaining of the then Initial Term or Renewal Term.

Tax Law Change. Lessee may terminate this Agreement upon 60 sixty (60) days’ notice to Operator if Lessee ceases to be qualified as a real estate investment trust or if the United States tax laws change to allow a hotel REIT to self-manage its properties. In such event, Lessee shall pay Operator a termination fee equal to 50% of the Operator’s Fee paid to Operator during a number of months prior to the notice of termination equal to multiplied by the lesser of 12 twelve (12) months or the number of months otherwise remaining of the then Initial Term or Renewal Term.

Tax Law Change. Lessee may terminate this Agreement upon 60 sixty (60) days’ written notice to Operator if Lessee ceases to be qualified as a real estate investment trust or if the United States tax laws change to allow a hotel REIT to self-manage its properties. In such event, Lessee shall pay Operator a termination fee at the effective date of termination equal to 50% of the Operator’s monthly average Base Fee paid to Operator during a number of the three (3) months prior to the notice of termination equal to multiplied by the lesser of 12 twelve (12) months or the number of months otherwise remaining of in the then Initial Term or Renewal Term, as applicable.

Tax Law Change. Lessee may terminate this Agreement upon 60 sixty (60) days’ ' notice to Operator if Lessee ceases to be qualified as a real estate investment trust or if the United States tax laws change to allow a hotel REIT to self-manage its properties. In such event, Lessee shall pay Operator a termination fee equal to 50% of the Operator’s 's Fee paid to Operator during a number of months prior to the notice of termination equal to multiplied by the lesser of 12 twelve (12) months or the number of months otherwise remaining of the then Initial Term or Renewal Term.