Acquisition of Control of Hotel for Cash. If the proposed Transfer is a sale or lease of the Hotel for cash consideration, Franchisor (or its designee) shall have the right to purchase or lease the Hotel at the same price or rental and upon the same terms and conditions (other than any terms relating to the Brand of the Hotel) as those set forth in such offer from (or to) a Competitor. In such event, Owner and Franchisor (or its designee) shall promptly enter into an agreement for sale or lease at the price or rental and on terms consistent with such offer.
Appears in 6 contracts
Samples: Franchise Agreement, Franchise Agreement (Apple REIT Eight, Inc.), Franchise Agreement (Apple REIT Seven, Inc.)
Acquisition of Control of Hotel for Cash. If the proposed Transfer is a sale or lease of the Hotel for cash consideration, Franchisor (or its designee) shall will have the right to purchase or lease the Hotel at the same price or rental and upon the same terms and conditions (other than any terms relating to the Brand of the Hotel) as those set forth contained in such offer from (or to) a Competitor. In such event, Owner Franchisee and Franchisor (or its designee) shall will promptly enter into an agreement for sale or lease at the price or rental and on terms consistent with such offer.
Appears in 4 contracts
Samples: Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Franchise Agreement (Apple REIT Ten, Inc.)
Acquisition of Control of Hotel for Cash. If the proposed Transfer is a sale or lease of the Hotel for cash consideration, Franchisor (or its designee) shall will have the right to purchase or lease the Hotel at the same price or rental and upon the same terms and conditions (other than any terms relating to the Brand of the Hotel) as those set forth contained in such offer from (or to) a Competitor. In such event, Owner and Franchisor (or its designee) shall will promptly enter into an agreement for sale or lease at the price or rental and on terms consistent with such offer.
Appears in 4 contracts
Samples: Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Franchise Agreement (Apple REIT Ten, Inc.)
