Common use of Competitive Market Area Clause in Contracts

Competitive Market Area. If Operator (or its Affiliates) build or develop, and open for service to the public, directly or indirectly, any hotel within a one (1) mile radius of any Hotel during the Operating Term, then unless Lessee has expressly consented thereto in writing in advance, which consent may be withheld in Lessee’s sole and absolute discretion, Lessee shall have the right to terminate this Agreement upon thirty (30) days’ prior written notice to Operator, without payment of a termination fee or penalty. The foregoing provision shall not be deemed to apply to debt financing provided to any hotel project by Operator or its Affiliates (which shall include, without limitation, Stonehill Strategic Capital, LLC), nor to the acquisition, through foreclosure proceedings or otherwise, by Operator or its Affiliates, of any hotel project to which Operator or its Affiliates has provided, or in the future provides, debt financing.

Competitive Market Area. If Operator (or its Affiliates) build or develop, and open for service to the public, directly or indirectly, any hotel within a one three (13) mile radius of any Hotel during the Operating Term, then unless Lessee has expressly consented thereto in writing in advance, which consent may be withheld in Lessee’s 's sole and absolute discretion, Lessee shall have the right to terminate this Agreement upon thirty (30) days’ ' prior written notice to Operator, without payment of a termination fee or penalty. The foregoing provision shall not be deemed to apply to debt financing provided to any hotel project by Operator or its Affiliates (which shall include, without limitation, Stonehill Strategic Capital, LLC), nor to the acquisition, through foreclosure proceedings or otherwise, by Operator or its Affiliates, of any hotel project to which Operator or its Affiliates has provided, or in the future provides, debt financing. Section 21.05.

Competitive Market Area. If Operator (or its Affiliates) build or develop, and open for service to the public, directly or indirectly, any hotel within a one three (13) mile radius (as shown on Exhibit A-4 attached) of any Hotel during the Operating Term, then unless Lessee has expressly consented thereto in writing in advance, which consent may be withheld in Lessee’s 's sole and absolute discretion, Lessee shall have the right to terminate this Agreement upon thirty (30) days’ ' prior written notice to Operator, without payment of a termination fee or penalty. The foregoing provision shall not be deemed to apply to debt financing provided to any hotel project by Operator or its Affiliates (which shall include, without limitation, Stonehill Strategic Capital, LLC), nor to the acquisition, through foreclosure proceedings or otherwise, by Operator or its Affiliates, of any hotel project to which Operator or its Affiliates has provided, or in the future provides, debt financing.

Competitive Market Area. If Operator (or its Affiliates) build or develop, and open for service to the public, directly or indirectly, any hotel within a one three (13) mile radius of any Hotel during the Operating Term, then unless Lessee has expressly consented thereto in writing in advance, which consent may be withheld in Lessee’s 's sole and absolute discretion, Lessee shall have the right to terminate this Agreement upon thirty (30) days’ ' prior written notice to Operator, without payment of a termination fee or penalty. The foregoing provision shall not be deemed to apply to debt financing provided to any hotel project by Operator or its Affiliates (which shall include, without limitation, Stonehill Strategic Capital, LLC), nor to the acquisition, through foreclosure proceedings or otherwise, by Operator or its Affiliates, of any hotel project to which Operator or its Affiliates has provided, or in the future provides, debt financing.