Common use of Assignment by Management Company and Owner Clause in Contracts

Assignment by Management Company and Owner. A. Management Company shall not assign this Agreement, or delegate any of its responsibilities hereunder, without the prior written consent of Owner; provided, however, that Management Company, shall have the right, without such consent, to assign its interest in this Agreement to any of its Affiliates, and any such Affiliate shall be deemed to be the Management Company for purposes of this Agreement. Management Company shall be relieved of all further obligations hereunder if such Affiliate has substantially similar financial resources and liquidity as Management Company and the expertise to perform the obligations of Management Company hereunder including, without limitation, access to the Group Services that are currently being provided by Management Company at the time of such assignment.

Appears in 3 contracts

Samples: Management Agreement (Eagle Hospitality Properties Trust, Inc.), Management Agreement (Highland Hospitality Corp), Management Agreement (Highland Hospitality Corp)

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Assignment by Management Company and Owner. A. Management Company shall not assign this Agreement, or delegate any of its responsibilities hereunder, without the prior written consent of Owner; provided, however, that Management Company, shall have the right, without such consent, to assign its interest in this Agreement to any of its Affiliates, and any such Affiliate shall be deemed to be the Management Company for purposes of this Agreement. Management Company shall be relieved of all further obligations hereunder if such Affiliate has substantially similar financial resources and liquidity as Management Company and the expertise to perform the obligations of Management Company hereunder including, without limitation, access to the Group Services that are currently being provided by Management Company and its Affiliates at the time of such assignment.

Appears in 1 contract

Samples: Management Agreement (Highland Hospitality Corp)

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