Seasoned Property means (a) each Hotel Property (other than a New Property) owned in fee simple by, or subject to a ground lease to, the Parent Guarantor or any of its Subsidiaries or Unconsolidated Affiliates and (b) upon the occurrence of the Seasoned Date of any New Property, such Hotel Property.
Seasoned Property means (a) each Real Property (other than a New Property) owned by the Consolidated Parties on a consolidated basis and all Unconsolidated Affiliates (as the case may be) and (b) upon the occurrence of the Seasoned Date of any New Property, such Real Property.
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.
Examples of Seasoned Property in a sentence
Schedule 5.10 contains, as of the Execution Date, a complete and correct listing of all real estate assets of the Parent Guarantor and its Subsidiaries, setting forth, for each such Property, the current occupancy status of such Property and whether such Property is (a) a Development Property and, if such Property is a Development Property, the status of completion of such Property, (b) a New Property or a Seasoned Property and/or (c) an Unencumbered Property.
Applicability for a particular test shall be based upon whether a Hotel Property owned by such Permitted Non-Voting Stock Company constitutes either a Seasoned Property or a New Property.
Subsection 5.04(a)(v) shall be modified so that the Total Asset Value is calculated, for each Seasoned Property, based on the Adjusted NOI for such Seasoned Property for the applicable quarter calculated on an Annualized Basis.
Subsection 5.04(a)(vi) shall be modified so that the Total Asset Value is calculated, for each Seasoned Property, based on the Adjusted NOI for such Seasoned Property for the applicable quarter calculated on an Annualized Basis.
Subsection 5.04(a)(vi) shall be modified so that the Total Asset Value is calculated, for each Seasoned Property, based on Adjusted NOI for such Seasoned Property for the applicable quarter calculated on an Annualized Basis.
More Definitions of Seasoned Property
Seasoned Property means Property on which a hotel is located that is not a New Property.
Seasoned Property means, as at any date, a Hotel Property (excluding any Renovating Property) that has been owned for four (4) or more Fiscal Quarters, by the Parent or by a Person that has been a Subsidiary of the Parent during such entire period.
Seasoned Property means (a) each Hotel Property (other than a New Property or a Renovated Borrowing Base Property) owned by Parent Guarantor or any of its Subsidiaries or Unconsolidated Affiliates, (b) upon the occurrence of the Seasoned Date of any New Property, such Hotel Property, and (c) in accordance with the definition thereof, each Renovated Borrowing Base Property.
Seasoned Property each Borrowing Base Property that has been owned by the Group Members for more than four full fiscal quarters.
Seasoned Property each Borrowing Base Property that has been owned by the Group Members for more than four full fiscal quarters. “SEC”: the Securities and Exchange Commission (or successors thereto or an analogous Governmental Authority). “Second Extended Revolving Credit Termination Date”: as defined in Section 2.6(c). “Secured Indebtedness”: of any Person at any date, without duplication, 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 Capital Stock,; provided that, notwithstanding the foregoing, Indebtedness that is secured by a pledge of Capital Stock and not by Property owned by the issuer of such Capital Stock shall constitute Secured Indebtedness only if such Property also secures Indebtedness of such issuer. “Secured Recourse Debt”: at any date, an amount equal to the Consolidated Secured Debt on such date that is Recourse Indebtedness. “Several Letter of Credit”: a Letter of Credit issued severally by or on behalf of the Revolving Credit Lenders pursuant to which the Revolving Credit Lenders are severally liable to the beneficiary which shall be substantially in the form of Annex III to the 2022 Amendment Agreement or such other form agreed by the Borrower and the L/C Administrator (with the consent of all Revolving Credit Lenders, such consent not to be unreasonably withheld, conditioned or delayed; it being understood that such other form shall be deemed acceptable to all Revolving Credit Lenders unless the L/C Administrator has received written notice to the contrary within two Business Days after the L/C Administrator has notified of such other agreed form to the Revolving Credit Lenders). “Single Employer Plan”: any Plan that is covered by Title IV of ERISA or Section 412 of the Code, other than a Multiemployer Plan. “SOFR”: with respect to any U.S. Government Securities Business Day, a rate per annum equal to the secured overnight financing rate for such U.S. Government Securities Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding U.S. Government Securities Business Day. “SOFR Administrator”: the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on . “SOFR Administrator’s Website”: the website of the Federal Reserve Bank of New York, currently at xxxx://xxx.xxxxxxxxxx.xxx (, or any successor source for the secured
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 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 (excluding the Total Indebtedness relating to the Facilities and the 2018 Term Loan Facility) 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 Obligations” means the “Secured Obligations” as defined in the Pledge Agreement, exclusive of all Excluded Swap Obligations. “Secured Parties” means, collectively, the Administrative Agent for the ratable benefit of the Lender Parties and the Hedge Banks. “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. “Selling Lender” has the meaning specified in Section 2.17(e). “Single Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of any Loan Party or any ERISA Affiliate and no Person other than the Loan Parties and the ERISA Affiliates or (b) was so maintained and in respect of which any Loan Party or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event such plan has been or were to be terminated. “Xxxxx Travel Research” means Xxxxx Travel Research or a substitute lodging industry research company proposed by the Borrower and approved by the Administrative Agent.