Property Management Business definition

Property Management Business means the managing, leasing, selling and purchasing of real property.

Property Management Business means the property management activities conducted by Remington Holdings, LP and its Subsidiaries within the lodging industry, including hotel operations, sales and marketing, revenue development, budget oversight, guest service, asset maintenance (not involving capital expenditures), and related services. The Property Management Business shall not include any portion of the Project Management Business.

Property Management Business means business that includes carrying out all or any of the following activities pursuant to instructions received from other people:

Examples of Property Management Business in a sentence

• Xxxxx REF and Xxxxx Management hereby agree to indemnify, defend and hold harmless REIT II and WRES, and their successors and assigns, of and from any and all costs, liabilities and expenses, including court costs and attorney fees, arising from or connected with the operation of the Property Management Business by WRES, Xxxxx REF or Xxxxx Management before the Assignment Effective Date.

• REIT II hereby agrees to cause WRES to indemnify, defend and hold harmless Xxxxx REF and Xxxxx Management and their successors and assigns, of and from any and all costs, liabilities and expense, including court costs and attorneys fees, arising from or connected with the operation of the Property Management Business by WRES or REIT II after the Assignment Effective Date.

• All material Taxes related to the Transferors, the Property Management Business or the Acquired Assets (whether or not shown on any Tax Return) have been duly and timely paid or withheld and remitted to the appropriate Governmental Authority.

• Xxxxx REF and Xxxxx Management maintain insurance policies for the benefit of WRES and the Property Management Business (the “Insurance Policies”).

• Except as set forth on Disclosure Schedule 8(N), there are no claims pending or, to the knowledge of Xxxxx REF, Xxxxx Management or WRES threatened, under any of the Insurance Policies in respect of the Property Management Business and no disputes with underwriters are pending or, to the knowledge of Xxxxx REF, Xxxxx Management or WRES, threatened.

More Definitions of Property Management Business

Property Management Business means the managing, leasing, selling and purchasing of real property. 4889-7737-4420 v.6 25

Property Management Business has the meaning set forth in the Recitals.

Property Management Business means the business of Residential Management Group, LLC as of the date hereof.

Property Management Business means the managing, leasing, selling and purchasing of real property. “Property Sub” means any Subsidiary that exists on the Closing Date or that is subsequently formed or acquired and, in each case, whose principal business activities are to engage in Property Development Activities. “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “Public Lender” has the meaning specified in Section 6.01. “Ratings-Based Applicable Rate” has the meaning specified in the definition of “Applicable Rate.” “Recipient” means the Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder. “Recourse Debt” means, with respect to any Loan Party or Subsidiary, any Debt, in respect of which contractual recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, and other similar exceptions to recourse liability) is to such Person. “Register” has the meaning specified in Section 10.06(c). “REIT” means a “real estate investment trust” as defined in Sections 856 through 860 of the Code. “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. “Relevant Governmental Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of

Property Management Business means the property and project management business as conducted by the Target Companies on and prior to the date of this Agreement, and excluding, for clarity, the asset management business as conducted by the Company on or prior to the date of this Agreement.

Property Management Business means the property management business operated by Bourdais Gerance;

Property Management Business means the provision of services by Xxxxx REF, Xxxxx Management and WRES to REIT II pursuant to the terms of the Property Management Agreement in substantially the same manner as is presently being conducted.