Ashford Trust Parties definition

Ashford Trust Parties shall collectively mean Ashford Trust and Ashford Trust OP.
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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.
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Examples of Ashford Trust Parties in a sentence

  • The REIT Parties acknowledge that pursuant to the terms of the Ashford Trust Mutual Exclusivity Agreement, if the REIT ROFR lapses, the Ashford Trust Parties may exercise their rights to assume or acquire the Remington Transaction.

  • If the REIT materially modifies its Initial Investment Guidelines without the written consent of Manager (on behalf of the Remington Parties), which such consent may be withheld in its sole and absolute discretion and may further be subject to the consent of the Ashford Trust Parties, the Remington Parties will have no obligation to present or offer a Remington Transaction to the REIT Parties at any time thereafter, regardless of any subsequent modifications by the REIT to its Investment Guidelines.

  • Instead, the Remington Parties, subject to the superior rights of the Ashford Trust Parties or any other Person with which any of the Remington Parties may have a right of first offer agreement or similar agreement, shall use their reasonable discretion to determine how to allocate such Remington Transaction.

  • The REIT Parties acknowledge the terms and conditions of the Ashford Trust Mutual Exclusivity Agreement, and further acknowledge that if the REIT materially modifies its Initial Investment Guidelines without the consent of Manager (on behalf of the Remington Parties), the Ashford Trust Parties, unless otherwise waived, will have superior rights to Remington Transactions pursuant to the terms of the Ashford Trust Mutual Exclusivity Agreement.

  • Instead, the Remington Parties, subject to the superior rights of the Ashford Prime Parties, the Ashford Trust Parties or any other Person with which any of the Remington Parties may have a right of first offer agreement or similar agreement, shall use their reasonable discretion to determine how to allocate such Remington Transaction.

  • Parties acknowledge the terms and conditions of the Ashford Prime Mutual Exclusivity Agreement and the Ashford Trust Mutual Exclusivity Agreement, and further acknowledge that the Ashford Prime Parties and the Ashford Trust Parties, unless otherwise waived, will have superior rights to Remington Transactions pursuant to the terms of the Ashford Prime Mutual Exclusivity Agreement and the Ashford Trust Mutual Exclusivity Agreement, respectively.

  • ROFR lapses, the Ashford Prime Parties or the Ashford Trust Parties, as applicable, may exercise their rights to assume or acquire the Remington Transaction, provided such Remington Transaction satisfies the Investment Guidelines of such entity.

  • ROFR lapses, the Braemar Parties or the Ashford Trust Parties, as applicable, may exercise their rights to assume or acquire the Remington Transaction, provided such Remington Transaction satisfies the Investment Guidelines of such entity.

  • Parties acknowledge the terms and conditions of the Braemar Mutual Exclusivity Agreement and the Ashford Trust Mutual Exclusivity Agreement, and further acknowledge that the Braemar Parties and the Ashford Trust Parties, unless otherwise waived, will have superior rights to Remington Transactions pursuant to the terms of the Braemar Mutual Exclusivity Agreement and the Ashford Trust Mutual Exclusivity Agreement, respectively.

  • Instead, the Remington Parties, subject to the superior rights of the Braemar Parties, the Ashford Trust Parties or any other Person with which any of the Remington Parties may have a right of first offer agreement or similar agreement, shall use their reasonable discretion to determine how to allocate such Remington Transaction.