Common use of Third Party Loans Clause in Contracts

Third Party Loans. Section 4.29 of the Disclosure Letter lists each loan document (together with any amendments, guarantees and any ancillary documents and agreements related thereto, the “Loan Documents”) with respect to any loans made by any of the Acquired Companies to any Person (other than any of the Acquired Companies) which as of the date of this Agreement has an outstanding balance that is payable by such Person to any of the Acquired Companies or pursuant to which Debt to any of the Acquired Companies may be incurred by such Person (collectively, the “Loans”). As of the date of this Agreement, the outstanding principal amount of each Loan or the amount of Debt that may be borrowed under each Loan Document is not less than the amount set forth on Section 4.29 of the Disclosure Letter. Except as set forth in Section 4.29 of the Disclosure Letter, none of the Acquired Companies (a) has delivered any written notice of default under any of the Loan Documents or (b) executed any written waiver of any rights of the Acquired Companies under any of the Loan Documents.

Appears in 3 contracts

Samples: Merger Agreement (Winston Hotels Inc), Merger Agreement (Inland American Real Estate Trust, Inc.), Merger Agreement (Winston Hotels Inc)

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Third Party Loans. Section 4.29 3.33 of the Company Disclosure Letter lists each loan document (together with any amendments, guarantees and any ancillary documents and agreements related thereto, the “Loan Documents”) with respect to any loans made by the Company or any of the Acquired Companies Subsidiary to any Person (other than the Company or any of the Acquired CompaniesSubsidiary) which as of the date of this Agreement has an outstanding balance that is payable by such Person party to the Company or any of the Acquired Companies Subsidiary or pursuant to which Debt Indebtedness to the Company or any of the Acquired Companies Subsidiary may be incurred by such Person party (collectively, the “Loans”). As of the date of this Agreement, the outstanding principal amount of each Loan or the amount of Debt Indebtedness that may be borrowed under each Loan Document is not less than the amount set forth on Section 4.29 3.33 of the Company Disclosure Letter. Except as set forth in Section 4.29 of Neither the Disclosure Letter, none of the Acquired Companies Company nor any Subsidiary (ai) has delivered any written notice of default under any of the Loan Documents or (bii) executed any written waiver of any rights of the Acquired Companies Company or the Subsidiaries under any of the Loan Documents.

Appears in 1 contract

Samples: Merger Agreement (Meristar Hospitality Operating Partnership Lp)

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