COMMISSION, BOARD,
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES, ANY STATE OF THE UNITED STATES,
OR ANY POLITICAL SUBDIVISION THEREOF; OR
(D)
THE PRESENCE OF WHICH AT A HOTEL CAUSES OR MATERIALLY THREATENS TO
CAUSE AN UNLAWFUL NUISANCE UPON SUCH HOTEL OR TO ADJACENT PROPERTIES OR POSES OR
MATERIALLY THREATENS TO POSE A HAZARD TO SUCH HOTEL OR TO THE HEALTH OR SAFETY
OF PERSONS ON OR ABOUT SUCH HOTEL; OR
(E)
WITHOUT LIMITATION, WHICH CONTAINS GASOLINE, DIESEL FUEL OR OTHER
PETROLEUM HYDROCARBONS OR VOLATILE ORGANIC COMPOUNDS; OR
(F)
WITHOUT LIMITATION, WHICH CONTAINS POLYCHLORINATED BIPHENYLS
(PCBS) OR ASBESTOS OR UREA FORMALDEHYDE FOAM INSULATION; OR
(G)
WITHOUT LIMITATION, WHICH CONTAINS OR EMITS RADIOACTIVE PARTICLES,
WAVES OR MATERIAL; OR
(H)
WITHOUT LIMITATION, CONSTITUTES MATERIALS WHICH ARE NOW OR MAY
HEREAFTER BE SUBJECT TO REGULATION PURSUANT TO THE MATERIAL WASTE TRACKING ACT
OF 1988, OR ANY APPLICABLE LAWS PROMULGATED BY ANY GOVERNMENT AGENCIES.
1.41
"HOTEL"
SHALL MEAN EACH HOTEL LOCATED AT A SITE INCLUDING ALL OF
THE OWNER'S INTEREST IN SUCH SITE, THE BUILDING THERE, THE FURNITURE, FIXTURES
AND EQUIPMENT THERE, THE OPERATING
6
EQUIPMENT THERE AND THE OPERATING SUPPLIES THERE; PROVIDED, HOWEVER, UPON THE
TERMINATION OF THE AGREEMENT WITH RESPECT TO LESS THAN ALL OF THE HOTELS,
PURSUANT TO THE TERMS HEREOF OR OTHERWISE, THE TERM "HOTEL" SHALL, WITH RESPECT
TO THE OBLIGATION OF THE PARTIES THEREAFTER ACCRUING, ONLY REFER TO A HOTEL WITH
RESPECT TO WHICH THIS AGREEMENT IS IN FULL FORCE AND EFFECT.
1.42
"HPT"
SHALL MEAN HOSPITALITY PROPERTIES TRUST, A MARYLAND REAL
ESTATE INVESTMENT TRUST, TOGETHER WITH ITS SUCCESSORS AND PERMITTED ASSIGNS.
1.43
"IHG"
SHALL MEAN INTERCONTINENTAL HOTELS GROUP PLC, ITS SUCCESSORS
AND ASSIGNS.
1.44
"INCENTIVE MANAGEMENT FEE"
SHALL MEAN FOR ANY FISCAL YEAR, FIFTY
PERCENT (50%) OF THE EXCESS, IF ANY, OF GROSS REVENUES FROM ALL OF THE HOTELS IN
EXCESS OF THE APPLICATIONS THEREOF MADE PURSUANT TO SECTIONS 10.1(A) THROUGH AND
INCLUDING 10(N).
1.45
"INITIAL TERM"
SHALL MEAN THE PERIOD COMMENCING ON THE EFFECTIVE
DATE AND ENDING ON THE LAST DAY OF THE MONTH IN WHICH OCCURS THE DAY THAT IS
TWENTY (20) YEARS AFTER THE EFFECTIVE DATE.
1.46
"INITIAL WORKING CAPITAL"
SHALL HAVE THE MEANING GIVEN TO SUCH
TERM IN SECTION 5.1.
1.47
"INSURANCE REQUIREMENTS"
SHALL MEAN ALL TERMS OF ANY INSURANCE
POLICY REQUIRED BY THIS AGREEMENT AND ALL REQUIREMENTS OF THE ISSUER OF ANY SUCH
POLICY AND ALL ORDERS, RULES AND REGULATIONS AND ANY OTHER REQUIREMENTS OF THE
NATIONAL BOARD OF FIRE UNDERWRITERS (OR ANY OTHER BODY EXERCISING SIMILAR
FUNCTIONS) BINDING UPON THE HOTELS.
1.48
"INTEREST RATE"
SHALL MEAN A RATE, NOT TO EXCEED THE MAXIMUM LEGAL
INTEREST RATE, EQUAL TO THE GREATER OF (I) TWELVE (12%) PERCENT PER ANNUM AND
(II) TWO PERCENT (2%) PER ANNUM IN EXCESS OF THE DISBURSEMENT RATE DETERMINED AS
OF THE FIRST DAY THAT INTEREST ACCRUES ON ANY AMOUNT TO WHICH SUCH INTEREST RATE
IS TO BE APPLIED.
1.49
"LEASE"
SHALL MEAN THE LEASE AGREEMENT DATED AS OF THE EFFECTIVE
DATE, BY AND BETWEEN HPT IHG PROPERTIES TRUST