Casualty Restoration. If the Hotel is damaged by any casualty and the cost to restore the Hotel to the same condition as existed previously is less than 60% of the Hotel’s replacement cost at the time of the casualty, Franchisee will cause the Hotel to be promptly renovated and reopened within a reasonable time under Section 4.
Appears in 4 contracts
Samples: Franchise Agreement (Moody National REIT II, Inc.), Franchise Agreement (Moody National REIT I, Inc.), Franchise Agreement (Moody National REIT II, Inc.)
