MEAN WITH RESPECT TO ANY PERSON, ANY PERSON WHO
OWNS DIRECTLY, OR INDIRECTLY THROUGH ONE OR MORE SUBSIDIARIES OR AFFILIATES,
GREATER THAN FIFTY PERCENT (50%) OF
18
THE VOTING OR BENEFICIAL INTEREST IN, OR OTHERWISE HAS THE RIGHT OR POWER
(WHETHER BY CONTRACT, THROUGH OWNERSHIP OF SECURITIES OR OTHERWISE) TO CONTROL,
SUCH PERSON.
1.93
"PARSIPPANY HOTEL"
SHALL MEAN THE HOTEL LOCATED AT THE PARSIPPANY
SITE INCLUDING ALL OF THE OWNER'S INTEREST IN THE PARSIPPANY SITE, THE BUILDING
THERE, THE FURNITURE, FIXTURES AND EQUIPMENT THERE, THE OPERATING EQUIPMENT
THERE AND THE OPERATING SUPPLIES THERE.
1.94
"PARSIPPANY HOTEL ASSIGNMENT AGREEMENT"
SHALL MEAN THAT CERTAIN
ASSIGNMENT AND ASSUMPTION OF TURN-KEY HOTEL PURCHASE AND SALE AGREEMENT, DATED
AS OF THE PARSIPPANY HOTEL EFFECTIVE DATE, BETWEEN MANAGER AND OWNER'S
AFFILIATE.
1.95
"PARSIPPANY HOTEL EFFECTIVE DATE"
SHALL MEAN APRIL 13, 2006.
1.96
"PARSIPPANY SITE"
SHALL MEAN THE PARCEL OF REAL ESTATE MORE
PARTICULARLY DESCRIBED ON EXHIBIT A-31.
1.97
"PERSON"
SHALL MEAN ANY INDIVIDUAL OR ENTITY, AND THE HEIRS,
EXECUTORS, ADMINISTRATORS, LEGAL REPRESENTATIVES, SUCCESSORS AND ASSIGNS OF SUCH
INDIVIDUAL OR ENTITY WHERE THE CONTEXT SO ADMITS.
1.98
"PLEDGED HOTELS"
SHALL MEAN, WITH RESPECT TO ANY LOAN OR OTHER
DEBT SECURED BY AN AUTHORIZED MORTGAGE, COLLECTIVELY, THE HOTELS WHICH SECURE
SUCH LOAN OR OTHER DEBT.
1.99
"PRIORITY COVERAGE RATIO"
SHALL MEAN, FOR ANY PERIOD, FOR ANY
HOTEL OR GROUP OF HOTELS, THE QUOTIENT OF (A) THE EXCESS OF GROSS REVENUE FOR
SUCH HOTEL OR GROUP OF HOTELS FOR SUCH PERIOD OVER AMOUNTS DISTRIBUTED OR
APPLIED FOR SUCH HOTEL OR GROUP OF HOTELS FOR SUCH PERIOD PURSUANT TO SECTIONS
10.1(A), 10.1(B) (DETERMINED AS THOUGH THE RESERVE PERCENTAGE FOR THE EXPANSION
HOTELS AND THE PARSIPPANY HOTEL WAS AT ALL TIMES FIVE PERCENT (5%)), 10.1(F),
10.1(H) AND 10.1(I), DIVIDED BY (B) THE SUM OF THE OWNER'S PRIORITY ALLOCATED TO
SUCH HOTEL OR GROUP OF HOTELS (AS APPLICABLE) FOR SUCH PERIOD PURSUANT TO
SECTION 10.8, PLUS THE OWNER'S PERCENTAGE PRIORITY ALLOCATED TO SUCH HOTELS OR
GROUP OF HOTELS FOR SUCH PERIOD (AS APPLICABLE).
1.100
"PURCHASER"
SHALL MEAN THE LANDLORD UNDER THE LEASE.
1.101
"RENEWAL TERMS"
SHALL MEAN ANY PERIOD OF YEARS EXTENDING THE TERM
OF THIS AGREEMENT, COMMENCING UPON THE
19
EXPIRATION OF THE INITIAL TERM OR ANY EXTENSIONS THERETO, AS PROVIDED IN ARTICLE
3.
1.102
"REPAIRS"
SHALL HAVE THE MEANING GIVEN SUCH TERM IN SECTION 7.6.
1.103
"REPLACEMENT PROPERTY"
SHALL MEAN A STAYBRIDGE SUITE HOTEL OR OTHER
TYPE OF HOTEL MUTUALLY ACCEPTABLE TO THE PARTIES ACQUIRED BY PURCHASER IN
SUBSTITUTION FOR A HOTEL WITH RESPECT TO WHICH THIS AGREEMENT WAS TERMINATED
PURSUANT TO SECTION 16.1.
1.104
"RESERVATION SYSTEM"
SHALL MEAN A COMPUTERIZED NETWORK OF HIGH
SPEED TERRESTRIAL AND SATELLITE-LINKED HARDWARE AND DATA LINES CONNECTING
HOTELS, CENTRAL RESERVATION CENTERS, DATA PROCESSING CENTERS AND TRAVEL AGENCIES
WHICH PROVIDES RESERVATION SERVICES TO THE STAYBRIDGE SUITES HOTEL CHAIN IN
NORTH AMERICA.
1.105
"RESERVE ACCOUNT"
SHALL MEAN AN INTEREST-BEARING ACCOUNT
ESTABLISHED FOR FUNDS TO BE HELD IN RESERVE FOR CAPITAL REPLACEMENTS IN
PURCHASER'S NAME AT A BANK SELECTED BY PURCHASER.
1.106
"RESERVE PERCENTAGE"
SHALL