Ashford Trust OP definition

Ashford Trust OP has the meaning set forth in the introductory paragraph of this Agreement.
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Ashford Trust OP means Ashford Hospitality Limited Partnership, a Delaware limited partnership.
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Ashford Trust OP means Ashford Hospitality Limited Partnership, a Delaware limited partnership. “Ashford Trust Parties” shall collectively mean Ashford Trust and Ashford Trust OP. “Base Management Fee” shall have the meaning given such term in the Master Management Agreement. “Capital Improvement Budget” shall have the meaning given such term in the Master Management Agreement. “Effective Date” shall have meaning given such term in the preamble of the Agreement. “Eligible Independent Contractor” shall have the same meaning given such term in Section 856(d)(9) of the Internal Revenue Code of 1986, as amended. “Event of Default” shall have the meaning as set forth in Section 9. “Excluded Ashford Inc. Transactions” shall mean an Ashford Inc. Transaction with respect to which there has been an Independent Director Election. “Excluded Remington Transactions” shall mean the following excluded transactions of the Remington Affiliates: (a) Existing hotel investments made by one or more of the Remington Affiliates with any of their Existing Investors; (b) Existing bona fide arm’s length third party management arrangements (or arrangements for other services such as project management) with parties other than the Ashford Inc. Affiliates pursuant to which one or more of the Remington Affiliates provide customary hotel management and hotel construction management, project management and other services; and (c) Like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended, made by any of the Existing Investors pursuant to contractual obligations existing as of the date of this Agreement provided that Manager provides ten (10) days prior notice to Ashford Inc. of said transaction. (d) Any Hotel Property investment that does not satisfy the Initial Investment Guidelines of any Future Client. “Existing Investors” shall mean the existing joint venture partners, investors or property owners of the Remington Affiliates as listed on Exhibit C attached hereto. “Fiscal Year” shall mean the twelve (12) month calendar year ending December 31, except that the first Fiscal Year and last Fiscal Year of the Term of this Agreement may not be full calendar years. “Future Client” shall mean any entity, other that Ashford Prime or Ashford Trust, that is advised by the Ashford Inc. Parties. “Hotel” shall have the meaning given such term in the Master Management Agreement. “Hotel Property” means any Property that is used in whole or in part for hotel purposes, including, without l...
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Examples of Ashford Trust OP in a sentence

  • None of Ashford Trust OP or any Property Entity has received any written notice of proceedings relating to the revocation or modification or any such certificate, authority or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling, or finding, would materially and adversely affect the condition, financial or otherwise, or the earnings or business affairs of any Property Entity or the Property.

  • If such taking will materially interfere with the operation or use of the Property, the Optionees may terminate their obligations under this Option Agreement by written notice to Ashford Trust OP within ten (10) days after Ashford Trust OP has given Ashford Prime OP such notice of taking.

  • Consequently, distinctive or innovative packaging can boost product selling in competitive environment.

  • This Option Agreement and each agreement, document and instrument executed and delivered by or on behalf of Ashford Trust OP pursuant to this Option Agreement constitutes, or when executed and delivered will constitute, the legal, valid and binding obligation of Ashford Trust OP, each enforceable in accordance with its respective terms.

  • Ashford Trust OP represents that it has made no agreement with, and will not enter into any agreement with, and has no obligation (absolute or contingent) to, any other Person or firm to sell, transfer or in any way encumber the Ashford Trust Equity Interests or to not sell the Ashford Trust Equity Interests, or to enter into any agreement with respect to a sale, transfer or Encumbrance of or put or call right with respect to the Ashford Trust Equity Interests.

  • Other than the representations and warranties expressly set forth in this Article III, Ashford Trust OP shall not be deemed to have made any other representation or warranty in connection with this Option Agreement or the transactions contemplated hereby.

  • Ashford Trust OP and each of the Property Entities are duly organized, validly existing and in good standing under the laws of the respective jurisdiction of such entity’s organization.

  • As a material inducement to Optionees to enter into this Option Agreement and to consummate the transactions contemplated hereby, Ashford Trust OP hereby makes to Optionees each of the representations and warranties and covenants set forth in this Article III.

  • Ashford Trust OP hereby grants to Ashford Prime OP an irrevocable option to acquire the Ashford Trust Equity Interests in exchange for the Property Purchase Price, and Ashford Trust TRS hereby grants to Ashford Prime TRS an irrevocable option to acquire the Ashford Trust TRS Equity Interests in exchange for the TRS Purchase Price (collectively, the “Purchase Option”), in each case subject to the terms and conditions hereinafter set forth.

  • No bankruptcy or similar insolvency proceeding has been filed, or is currently contemplated, with respect to Ashford Trust OP or any of the Property Entities.

Related to Ashford Trust OP

  • Managing entity means the managing agent or, if there is no managing agent, the time-share

  • Redeeming Partner has the meaning set forth in Section 8.6.A.

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • General Partner has the meaning set forth in the Preamble.

  • Supplemental Interest Trust Trustee Xxxxx Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • Co-Trustee has the meaning set forth in the Basic Servicing Agreement.

  • Operating Partnership has the meaning set forth in the preamble.

  • Managing Partner means KKR Management LLC, a Delaware limited liability company.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • NIM Trustee The trustee for the NIM Securities.

  • Asset Manager means the manager of each of the Series Assets as specified in each Series Designation or, its permitted successors or assigns, appointed in accordance with Section 5.10.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Selling Partner has the meaning set forth in Section 8.5.

  • Delaware Trustee means the Person identified as the “Delaware Trustee” in the preamble to this Trust Agreement, solely in its capacity as Delaware Trustee of the Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor Delaware Trustee appointed as herein provided.

  • Trading Partner means an entity that has registered with the Commission to exchange data through Electronic Data Interchange.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Debenture Trustee means Wilmington Trust Company, as trustee under the Indenture until a successor is appointed thereunder, and thereafter means such successor trustee.

  • Depositor means Advisors Asset Management, Inc. and its successors in interest, or any successor depositor appointed as hereinafter provided."

  • Outside Trustee With respect to an Outside Serviced Mortgage Loan, the trustee under the applicable Outside Servicing Agreement.

  • CDO Asset Manager with respect to any Securitization Vehicle that is a CDO, shall mean the entity that is responsible for managing or administering a Note as an underlying asset of such Securitization Vehicle or, if applicable, as an asset of any Intervening Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available to the holder of such Note).

  • Contributor means Licensor and any individual or Legal Entity on behalf of whom a Contribution has been received by Licensor and subsequently incorporated within the Work.

  • CLO Asset Manager means, with respect to any Securitization Vehicle that is a CLO, the entity that is responsible for managing or administering the underlying assets of such Securitization Vehicle or, if applicable, the assets of any Intervening Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available to the Directing Holder).

  • Private partner means any entity that is a partner in a public-private partnership other than:

  • Sub-Manager Any Person with which the Property Manager or the Special Servicer has entered into a Sub-Management Agreement.