Hotel Operating Lease definition

Hotel Operating Lease means any hotel operating lease entered into by an applicable Venture Vehicle and a Hotel Lessee.
Sample 1Sample 2Sample 3
Hotel Operating Lease means the lease dated as of the date hereof between Hotel Owner and Hotel Operator, as the same may be amended or modified as permitted under this Agreement.
Sample 1Sample 2
Hotel Operating Lease means, individually or collectively as the context requires, each of those certain Hotel Lease Agreements dated as of the date hereof, each by and between each Co-Borrower and a Hotel Operating Lessee, with respect to the Properties described on Schedule A-1 through A-4.
Sample 1

Examples of Hotel Operating Lease in a sentence

  • For any Eligible Property, the ------------------------ Borrower will not, and will not permit any of its Subsidiaries to (a) enter into leases of Personal Property which constitute Capital Leases in excess of the Hotel Capital Lease Limit or (b) enter into leases of Personal Property which do not constitute Capital Leases in excess of the Hotel Operating Lease Limit.

  • Furthermore, prospective Muslim couples should be encouraged to go through formal marriage counseling and be issued with certificates before their marriage can be registered as done in Malaysia.

  • Notwithstanding the foregoing, all Members are hereby deemed to have approved the Credit Documents, each Hotel Operating Lease, the Asset Management Agreement, and each Purchase and Contribution Agreements.

  • Hotel Operator has been duly organized and is validly existing and in good standing with requisite power and authority to own the lessee’s interest in the Hotel Operating Lease and to operate the Property and to transact the businesses in which it is now engaged.

  • Borrower shall promptly provide Lender notice in writing of any amendments, modifications or supplements to the Hotel Operating Lease permitted under this Section and copies of any documents evidencing such amendments, modifications or supplements to the Hotel Operating Lease.

  • Lender reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estate created by the Ground Lease or the Hotel Operating Lease, with or without consideration, at Lender’s election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents and any such release shall not affect Lender’s rights in connection with the portion of the Property not so released.

  • So long as any portion of the Debt shall remain unpaid, unless Lender shall otherwise consent, such consent not to be unreasonably withheld or delayed, the fee title to the Property and the leasehold estate therein created pursuant to the provisions of the Ground Lease or the Hotel Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrower, Lender, or in any other person by purchase, operation of law or otherwise.

  • If at any time any agreement (including the Hotel Operating Lease, if the Operating Tenant is an Affiliate of the General Partner) pursuant to which operating management of any property of the Partnership is vested in the General Partner or an Affiliate of the General Partner or in Marriott International, Inc.

  • Hotel Operating Lease Limit - Operating Leases will be limited to no more than $750 per room.

  • Borrower has no material financial obligation under any indenture, mortgage, deed of trust or loan agreement or instrument to which Borrower is a party or by which Borrower or the Property is otherwise bound, other than (a) obligations incurred in the ordinary course of the operation of the Property, (b) obligations under the Loan Documents, (c) Permitted Encumbrances, (d) obligations to Manager under the Management Agreement and (e) the Hotel Operating Lease.


More Definitions of Hotel Operating Lease

Hotel Operating Lease means that certain agreement with the Operating Tenant, executed as of the closing of the offering pursuant to the Private Placement Memorandum, whereby the Operating Tenant leases the Hotel and subleases a golf course from the Partnership.
Sample 1

Related to Hotel Operating Lease

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • Master Lease This Schedule is issued pursuant to the Lease identified on page 1 of this Schedule. All of the terms and conditions of the Lease are incorporated in and made a part of this Schedule as if they were expressly set forth in this Schedule. The parties hereby reaffirm all of the terms and conditions of the Lease (including, without limitation, the representations and warranties set forth in Section 8) except as modified herein by this Schedule. This Schedule may not be amended or rescinded except by a writing signed by both parties. CHEMDEX CORPORATION COMDISCO, INC. AS LESSEE AS LESSOR By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxx ------------------- --------------------- Title: CEO Title: SR VP ----------------- ------------------- Date: Date: ----------------- ------------------- EXHIBIT 1 SUMMARY EQUIPMENT SCHEDULE -------------------------- This Summary Equipment Schedule dated XXXX is executed pursuant to Equipment Schedule No. X to the Master Lease Agreement dated XXXX between Comdisco, Inc. ("Lessor") and XXXX ("Lessee"). All of the terms, conditions, representations and warranties of the Master Lease Agreement and Equipment Schedule No. X are incorporated herein and made a part hereof, and this Summary Equipment Schedule constitutes a Schedule for the Equipment on the attached invoices.

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.