Condemnation Termination. If: (i) all or a substantial portion of the Hotel is taken by Condemnation (other than for temporary use), or (ii) if all or a substantial portion of the Non-Hotel Facilities are taken such that the Hotel becomes uneconomical, unfeasible or not reasonably practical to Operate, this Agreement will terminate as of the date of such taking. A substantial portion of the Hotel is deemed taken if, in Owner’s or Manager’s reasonable opinion, the part not taken may not be repaired, restored, replaced, rebuilt or utilized so as to be acceptable as a System Hotel under the then current System. If this Agreement is terminated pursuant to this Section, the Condemnation award will, subject to the requirements of any Mortgage, be paid to Owner as its property.
Appears in 4 contracts
Samples: Management Agreement, Management Agreement (Capital Lodging), Management Agreement (Capital Lodging)
