SPE Party definition

SPE Party means Borrower and any other Person that is required to be a “Special Purpose Entity” under applicable Rating Agency criteria so as to make Borrower a Special Purpose Entity.

SPE Party means, if Borrower is a limited partnership or a limited liability company (other than a Single Member Delaware LLC), each general partner or managing member of Borrower (as of the date hereof, Borrower is a Single Member Delaware LLC and there are no SPE Parties).

SPE Party shall have the meaning set forth in Section 3.1.24(o). As of the Closing Date, the SPE Party is Ashford Pool I GP LLC, a Delaware limited liability company, the general partner of each Borrower.

Examples of SPE Party in a sentence

• Without in any way limiting the provisions of this Article 4, no Borrower shall take or permit any action that would result in any Borrower, SPE Party or Operating Lessee not being in compliance with the representations, warranties and covenants set forth in Section 3.1.24.

• Each Borrower shall give prompt notice to Lender of any litigation or governmental proceedings pending or threatened against any Borrower, SPE Party, Operating Lessee or any Guarantor which reasonably could be expected to materially adversely affect any Property or the condition (financial or otherwise) or business of such Borrower, SPE Party, Operating Lessee or such Guarantor, including such Borrower’s ability to perform its Obligations hereunder or under the other Loan Documents.

• No Borrower shall, or shall cause or permit Operating Lessee to, create, incur, assume or permit to exist any Lien on any direct or indirect interest in such Borrower, SPE Party or Operating Lessee or any portion of any of the Properties, except for (a) the Permitted Encumbrances, and (b) the Permitted Mezzanine Debt or as otherwise permitted in the Loan Documents.

• The occurrence of an event specified in subsections (b)(i) or (ii) herein as to any general partner or managing member of Borrower (other than any SPE Party) or Guarantor.

• At Lender’s option, it shall be a Default hereunder if Borrower, SPE Party or Guarantor becomes listed on any list promulgated under the Patriot Act or is indicted, arraigned or custodially detained on charges involving money laundering or predicate crimes to money laundering.

More Definitions of SPE Party

SPE Party means the Special Purpose Entity limited liability company which is the general partner of Borrower.

SPE Party means TIC Borrower 1, TIC Borrower 2 and TRS Lessee, each individually or collectively, as the context may imply or require.

SPE Party has the meaning assigned in Section 6.17(d).

SPE Party means: (i) if Borrower is a limited partnership, any Special Purpose Entity that is a general partner of Borrower, and (ii) if Borrower is a limited liability company other than an Acceptable LLC, the Special Purpose Entity that is the managing member of Borrower, and, in each case, that satisfies the requirements of Section 5.1(b) hereof. Notwithstanding the foregoing, to the extent Borrower is and remains an Acceptable LLC, there shall be deemed to be no “SPE Party” hereunder.

SPE Party means GP SPE Party, Intermediate Holdco and Holdco, as applicable.

SPE Party and “SPE Parties” shall mean collectively and individually, as the context may require, the Borrower Parties and Head Lessee.

SPE Party means [intentionally omitted]. Lender acknowledges and agrees that Borrower is not a limited liability company with multiple members and therefore Borrower’s structure does not require an SPE Party.