Examples of Operating Tenants in a sentence
Any and all operating supplies, whether consumables or non-consumables, used or consumed in the ordinary course of business at the Hotels and owned by Sellers or Operating Tenants, including without limitation, paper products, soap, cleaning supplies, food, and alcoholic and non-alcoholic beverages.
Notwithstanding the joinder to this Agreement by each Operating Tenant, the Sellers or the Operating Tenants, as applicable, shall have assumed and assigned to Purchaser the Assumed Contracts and Assumed Leases in accordance with the Assignment and Assumption Agreement, in each case pursuant to Section 365 of the Bankruptcy Code and the Confirmation Order, subject to Purchaser’s provision of adequate assurance as may be required under Section 365 of the Bankruptcy Code.
Buyer shall indemnify, defend and hold Sellers and Operating Tenants harmless from any claim, liability, cost or expense (including without limitation reasonable attorneys’ fees) arising out of any Operating Agreement from and after the Transfer Time.
Any such apportionments between Sellers and Operating Tenants shall have no effect and shall not be binding upon Buyer.
Borrower shall not be obligated to prepare or provide any financial statements or information pursuant to this Section 5.1.11 with respect to the operation by Operating Tenants of any of the Individual Properties except those obtained by Borrower pursuant to the foregoing sentence.
Sellers shall and shall cause Operating Tenants to, subject to the terms of the Management Agreements, use reasonable efforts to cause the Managers to maintain inventory levels consistent with Managers’ prior practices and continue to operate the Property in the ordinary course of business.
The apportionments set forth in this ARTICLE XIV are based upon Sellers’ and Operating Tenants’ termination of the Operating Leases at or prior to the Closing in accordance with Section 2.7, and nothing set forth in this ARTICLE XIV shall affect any apportionments between Sellers and Operating Tenants under the Operating Lease.
All funds held in reserve accounts for furniture, fixtures and equipment, for capital expenditures, or for other matters relating to the operation of the Hotels, whether such accounts are held in the name of the Sellers, Operating Tenants or Managers on behalf of Sellers or Operating Tenants.
Sellers and Operating Tenants shall indemnify, defend and hold Buyer harmless from any claim, liability, cost or expense (including without limitation reasonable attorneys’ fees and costs) arising out of any Operating Agreement for the period prior to the Transfer Time.
Sellers and Operating Tenants have, and on the Closing Date will have, all requisite power and authority to execute and deliver this Agreement and the agreements contemplated hereby, as the case may be, and to consummate the transactions contemplated herein pursuant to the terms and conditions of this Agreement and such execution delivery and consummation will not violate any material term of Sellers’ (and Operating Tenants’) organizational documents.