Eligible Hotels definition

Eligible Hotels means, collectively, (a) such of the Hotels owned or leased by the Borrower or any of its direct or indirect wholly-owned Subsidiaries, and (b) such of the Joint Venture Hotels, as shall meet at any time and from time to time, each of the following minimum criteria:
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Eligible Hotels is hereby amended by changing the reference "ten percent (10%)" in subparagraph (ii)(E) to "fifteen percent (15%)."
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Examples of Eligible Hotels in a sentence

  • The failure of the Administrative Agent to advise the Borrower of non-acceptance of a Hotel as an Eligible Hotel shall not preclude a subsequent determination or notice that such Hotel, or that such Hotel, collectively with all other Eligible Hotels, does not satisfy the requirements for Eligible Hotels set forth herein.

  • Each of the Eligible Hotels in Unencumbered and otherwise meets the requirements for Eligible Hotels set forth in the Credit Agreement.

  • To the extent not already delivered by the Borrower, the Borrower covenants and agrees to deliver to the Administrative Agent, within 45 days of the Effective Date, title updates with respect to each of the Hotels listed on Schedule 6.23 and, to the extent that such title updates reveal that any of such Hotels are not Unencumbered, such Hotels shall cease to qualify as Eligible Hotels.

  • Notwithstanding the foregoing, a Hotel shall remain included in the Borrowing Base so long as such Hotel shall meet the requirements for Eligible Hotels specified herein.

  • The Borrower covenants and agrees to deliver to the Administrative Agent within 45 days of the Closing Date, title updates with respect to each of the Hotels listed on Schedule 6.23 and, to the extent that such title updates reveal that any of such Hotels are not Unencumbered, such Hotels shall cease to qualify as Eligible Hotels.

  • A Borrowing Base Certificate, executed by a Responsible Officer of the Borrower, satisfactory to the Administrative Agent, together with copies of the Eligible Hotel Documents in respect of each of the Eligible Hotels shown listed thereon (except as otherwise provided in Section 7.23(a)).

Related to Eligible Hotels

  • Eligible Household means a household that is eligible to receive fuel assistance through the Maine State Housing Authority pursuant to section 4722, subsection 1, paragraph W; section 4741, subsection 15; and subchapter XIII and rules adopted pursuant to these laws. "Eligible household" does not include a tenant who resides in subsidized housing and receives a utility allowance or a tenant whose utilities are included in the rent. [PL 2001, c. 257, §1 (NEW).]

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Eligible Real Estate means Real Estate:

  • Eligible student means a student who is eighteen years or older.

  • Eligible Projects means projects as described in Schedule B.