TRS Holdco definition

TRS Holdco means Summit Hotel TRS, Inc.
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TRS Holdco means Summit Hotel TRS, Inc. “TRS Lessee” means a lessee of an Unencumbered Asset pursuant to an Operating Lease. “Type” refers to the distinction between Advances with reference to the Base Rate, Advances with reference to Adjusted Term SOFR and Advances with reference to Adjusted Daily SOFR. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any Person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. “UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution. “Unencumbered Adjusted NOI” means aggregate Adjusted NOI for all Unencumbered Assets. “Unencumbered Assets” means (a) the Hotel Assets listed on Schedule II hereto on the Closing Date, (b) together with those Hotel Assets which are designated by the Borrower and for which the applicable conditions (as may be determined by the Administrative Agent in its sole discretion) in Section 5.01(k) have been satisfied and as the Administrative Agent, in its sole discretion, shall have elected to treat as Unencumbered Assets for purposes of this Agreement, (c) but excluding, in each case, any such Unencumbered Assets removed pursuant to Section 5.02(e)(ii)(C). “Unencumbered Asset Designation Package” means, with respect to any Proposed Unencumbered Asset, the following items, each in form and substance satisfactory to the Administrative Agent: (a) a description of such Asset in detail satisfactory to the Administrative Agent, (b) a projected cash flow analysis of such Asset, (c) a statement of operating expenses for such Asset for the immediately preceding 36 consecutive calendar months, or such shorter period that the Asset has been open for business, (d) an operating expense and capital expenditures budget for such Asset for the next succeeding 12 consecutive months, and (e) if such Asset is then the subject of an acquisition transaction, a copy of the purchase agreement with respect thereto and a schedule of the proposed sources and uses of funds for such transaction. “Unencumbered Asset Pool” means all of the Unencumbered As...
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TRS Holdco means Summit Hotel TRS II, Inc. and each other entity that directly owns the Equity Interests in a TRS
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Examples of TRS Holdco in a sentence

  • All of the outstanding Equity Interests in each Loan Party’s Subsidiaries has been validly issued, are fully paid and non-assessable and to the extent owned by such Loan Party or one or more of its Subsidiaries, and with respect to the Subsidiary Guarantors, TRS Holdco and the TRS Lessees, are owned by such Loan Party or Subsidiaries free and clear of all Liens, except for Liens created under the Loan Documents.

  • All of the outstanding Equity Interests in each Loan Party’s Subsidiaries has been validly issued, are fully paid and non-assessable and to the extent owned by such Loan Party or one or more of its Subsidiaries, and with respect to the Subsidiary Guarantors, TRS Holdco and the TRS Lessees, are owned by such Loan Party or Subsidiaries free and clear of all Liens.

  • All of the outstanding Equity Interests in each Loan Party’s Subsidiaries has been validly issued, are fully paid and non-assessable and to the extent owned by such Loan Party or one or more of its Subsidiaries, and with respect to the Subsidiary Guarantors, TRS Holdco and the TRS Lessees, are owned by such Loan Party or Subsidiaries free and clear of all Liens, except for Liens created under the Loan Documentsrelating to the Facility and the Other Facilities pursuant to the Pledge Agreement.

  • TRS Borrower has the power and authority to be a member in TRS Holdco, to incur the Obligations evidenced by the Note and other Loan Documents, to execute and deliver the Loan Documents to which it is a party and to perform its obligations thereunder and to continue its businesses and affairs as presently conducted.

  • TRT Holdco and TRS Holdco collectively have, directly or indirectly, title to 100% of the membership interests in the Intervening Entities (other than TRT Holdco and TRS Holdco), free and clear of Liens and other interests.

  • The membership interests in TRT Holdco and TRS Holdco are “securities” (as defined in the UCC) and are certificated.

  • Each of the undersigned Lenders hereby consents to the release of the lien and security interest held by the Agent, for the benefit of the Lenders, as of the date hereof in the Equity Interests of TRS Holdco pledged by Borrower pursuant to that certain Collateral Assignment of Interests, dated as of January 16, 2015, by Borrower in favor of the Agent.

  • All of the outstanding Equity Interests in each Loan Party’s Subsidiaries has been validly issued, are fully paid and non-assessable and to the extent owned by such Loan Party or one or more of its Subsidiaries, and with respect to the Subsidiary Guarantors, TRS Holdco and the TRS Lessees, are owned by such Loan Party or Subsidiaries free and clear of all Liens, except for Liens relating to the Facility and the Other Facilities2018 Revolver/Term Loan Facility pursuant to the Pledge Agreement.

  • For the avoidance of doubt, nothing contained herein shall be deemed to release (i) TRS Holdco as a Guarantor or a Subsidiary Guarantor, as applicable, under the Credit Agreement, the Guaranty, the Indemnity Agreement, any of the other Loan Documents or the Contribution Agreement, or (ii) any of the Equity Interests pledged by TRS Holdco to the Agent as of the date hereof in any Person which directly or indirectly owns or leases a Borrowing Base Asset.

  • Welltower, Welltower TRS Holdco LLC, a Delaware limited liability company and the Town are parties to that certain Memorandum of Agreement by and between the Town of Brookline and Welltower Inc.


More Definitions of TRS Holdco

TRS Holdco is defined in the Recitals.
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Related to TRS Holdco

  • Holdco has the meaning set forth in the Preamble.

  • CFC Holdco means any Domestic Subsidiary that has no material assets other than Equity Interests of one or more Foreign Subsidiaries that are CFCs.

  • Partnership Subsidiary means (i) any entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Partnership, or (ii) any partnership or limited liability company of which 50% or more of the capital and profits interest is owned, directly or indirectly, by the Partnership or by one or more Partnership Subsidiaries or by the Partnership and one or more Partnership Subsidiaries.

  • Acquisition Subsidiary has the meaning specified in Section 7.14.

  • GP means Gottbetter & Partners, LLP.