Examples of Specified Hotels in a sentence
The amount that may be recovered from the Sellers under the Purchase and Sale Agreement pursuant thereto with respect to the Specified Hotels, the Specified Hotel Interests or the Specified Hotel Transaction shall not exceed $7,770,000.00 without the consent of NS Managing Member.
In the event any amounts are received by the Company or NS Managing Member or any of their respective Affiliates that relate solely to the Specified Hotels, the Specified Hotel Interests or the Specified Hotel Transaction, the Company or NS Managing Member shall (or shall cause its applicable Affiliate to), as applicable, promptly remit such amounts to Chatham Managing Member.
The Purchasers shall duly and punctually pay, satisfy, and discharge and shall indemnify the Sellers in respect of the first £50,000 of the aggregate of (i) any expenditure on Remedial Action Recommendations in relation to the Specified Hotels agreed or determined in accordance with this indemnity, whether such Remedial Action Recommendation is implemented by any member of the Purchaser Group or by any of the Sellers and (ii) any Environmental Losses.
For purposes of interpretation of this Agreement, the Specified Hotels shall be considered Individual Properties and the entities whose interests are being distributed in the Specified Hotel Transaction shall be considered JV Entities.