Seasoned Date definition

Seasoned Date means the first day on which an acquired Hotel Property has been owned for four (4) full fiscal quarters following the date of acquisition.

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Seasoned Date means the first day on which an acquired Real Property has been owned for six (6) full fiscal quarters following the date of acquisition of such Real Property.

Examples of Seasoned Date in a sentence

Borrower may, by written notice to Administrative Agent, irrevocably designate as the Seasoned Date for any Property a date that is earlier than the Seasoned Date for such Property specified in Schedule 2, by Administrative Agent pursuant to Section 4.1 or in the applicable Unencumbered Pool Supplement (as applicable) but in no event shall such date be a date that is earlier than the date on which such notice is given.
Such Hotel shall constitute a New Property and shall have as its Seasoned Date the last day of the fourth calendar quarter following the date on which such Property or Equity Interests were acquired, unless Administrative Agent, in its discretion and at Borrower’s request, designates a later Seasoned Date.

More Definitions of Seasoned Date

Seasoned Date means the first day on which an acquired Hotel Property has been owned for four (4) full fiscal quarters following the date of acquisition by Parent Guarantor or one of its Subsidiaries or Unconsolidated Affiliates (or such earlier date as Borrower may elect by notice to Administrative Agent).

Seasoned Date means the first day on which an acquired Property on which a hotel is located has been owned for four (4) full fiscal quarters following the date of acquisition by the Parent, the Borrower, a Subsidiary or an Unconsolidated Affiliate. “Seasoned Property” means Property on which a hotel is located that is not a New Property or a Development/Redevelopment Property. “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. “Secured Indebtedness” means, with respect to any Person, (a) all Indebtedness of such Person that is secured in any manner by any Lien on any Property plus (b) such Person’s pro rata share of the Secured Indebtedness of any of such Person’s Unconsolidated Affiliates; provided that neither any New York Mortgage nor any mortgage encumbering property located in New York State securing Indebtedness of the Loan Parties pursuant to provisions in loan documentation governing such Indebtedness which provisions are substantially similar to Section 13.21 of this Agreement shall constitute Secured Indebtedness hereunder. “Secured Recourse Indebtedness” means all Indebtedness (including Guaranties of Secured Indebtedness) that is Secured Indebtedness and is not Nonrecourse Indebtedness. “Securities Act” means the Securities Act of 1933, as amended from time to time, together with all rules and regulations issued thereunder. “Significant Subsidiary” means any Subsidiary to which more than $30,000,000 of Total Asset Value is attributable. “Single Asset Entity” means a Person (other than an individual) that (a) only owns a single Property; (b) is engaged only in the business of owning, developing and/or leasing such Property; and (c) receives substantially all of its gross revenues from such Property. In addition, if the assets of a Person consist solely of (i) Equity Interests in one or more Single Asset Entities that directly or indirectly own such single Property and (ii) cash and other assets of nominal value incidental to such Person’s ownership of the other Single Asset Entity, such Person shall also be deemed to be a Single Asset Entity for purposes of this Agreement. “SOFR” means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator. “SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate). “Solvent” means, when used with respect to any Person, that (a) the fai...

Seasoned Date means the first day on which an acquired Hotel Property has been owned for four (4) full fiscal quarters following the date of acquisition. “Seasoned Property” means (a) each Hotel Property (other than a New Property or a Development/Redevelopment Property) owned in fee simple by, or subject to a ground lease to, the Company or any of its Subsidiaries or Unconsolidated Affiliates and (b) upon the occurrence of the Seasoned Date of any New Property or election by the Company with respect to any New Property or Development/Redevelopment Property, such Hotel Property. “SEC” means the U.S. Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. “Secured Indebtedness” means, with respect to a Person as of a given date, the aggregate principal amount of all Indebtedness of such Person outstanding on such date that is secured in any manner by any Lien on any Property or (to the extent hereinafter provided) any Equity Interests; provided, however, that Indebtedness of the type described in clause (g) of the definition of Indebtedness shall not constitute Secured Indebtedness. Notwithstanding the foregoing, Indebtedness that is secured by a pledge of Equity Interests and not by Property owned by the issuer of such Equity Interests shall constitute Secured Indebtedness only if such Property also secures Indebtedness of such issuer. “Secured Leverage Ratio” has the meaning given that term in Section 9.1.(c). “Securities Act” means the Securities Act of 1933. “September 2025 Term Loan” means a loan made by a September 2025 Term Loan Lender pursuant to Section 2.2.(b) (or any conversion or continuation thereof).

Seasoned Date means, with respect to each Hotel Asset acquired by the Parent Guarantor or any Subsidiary or any Joint Venture (as the case may be), the date which is four full fiscal quarters after the acquisition date thereof. “Seasoned Property” means each Hotel Asset acquired by the Parent Guarantor or any Subsidiary or any Joint Venture (as the case may be) which has been owned for a period of more than four full fiscal quarters after the acquisition thereof. “Secured Indebtedness” means, with respect to the Parent Guarantor and its Subsidiaries as of a given date, the portion of Total Indebtedness that is secured in any manner by any Lien on any property or any Equity Interests in any direct or indirect Subsidiary of the Parent Guarantor or any Joint Venture. “Secured Recourse Indebtedness” means the portion of Secured Indebtedness that is not Non- Recourse Debt (excluding that portion of Secured Indebtedness relating to the Summit JV MR 1 Facility and the Summit SubJV Facility). “Securities Act” means the Securities Act of 1933, as amended to the date hereof and from time to time hereafter, and any successor statute. “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended to the date hereof and from time to time hereafter, and any successor statute.

Seasoned Date means, with respect to each Asset acquired by a Borrower, any Subsidiary thereof or any Joint Venture (as the case may be), the date which is four full fiscal quarters after the acquisition date thereof. “Seasoned Property” means each Asset acquired by a Borrower, any Subsidiary thereof or any Joint Venture (as the case may be) which has been owned for a period of more than four full fiscal quarters after the acquisition thereof. “Secured Indebtedness” means, with respect to the Parent and its Subsidiaries as of a given date, the portion of Total Indebtedness (other than the PACE Loan) that is secured in any manner by any Lien on any property or any Equity Interests in any direct or indirect Subsidiary of the Parent or any Joint Venture. “Secured Non-Recourse Debt” means the portion of Secured Indebtedness that is Non- Recourse Debt. “Secured Parties” means, collectively, the Administrative Agent, the Lenders, the ▇▇▇▇▇ ▇▇▇▇▇, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant