Administration of Operating Contracts Sample Clauses

Administration of Operating Contracts. Manager shall have the right to negotiate and enter into: (i) leases, licenses, and concession agreements for all public space at the Hotel, including all stores, office space, and lobby space; and (ii) service contracts required in the ordinary course of business in operating the Hotel (the “Operating Contracts”). All Operating Contracts shall be in Lessee’s name and may be executed by Manager on Lessee’s behalf as Lessee’s authorized representative; provided, however, that any Operating Contract subject to the Agreement Limitations set forth in Schedule I shall be subject to Lessee’s consent. Upon termination of this Agreement, Manager shall assign the Operating Contracts to Lessee or the successor manager (unless such assignment is prohibited by the terms thereof), who shall agree to assume liability thereunder. Manager shall sign such documents as are reasonably necessary to effectuate the assignment and assumption of the Operating Contracts, but Lessee shall be responsible for the cost of transferring any licenses or permits to Lessee or the successor manager.
Sample 1
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Related to Administration of Operating Contracts

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Description of Accounting Services on a Continuous Basis PFPC will perform the following accounting services with respect to each Portfolio:

  • Resignation of Operator Subject to Article 4.11, Operator may resign as Operator at any time by so notifying the other Parties at least one hundred and twenty (120) Days prior to the effective date of such resignation.

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

  • Description of Administration Services on a Continuous Basis PFPC will perform the following administration services with respect to each Portfolio:

  • Administration and Reserves (a) Notwithstanding the provisions of Article III, but subject to any contrary provisions of any Related Agreement, from and after the Distribution Date:

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