Common use of Conversion of Property Clause in Contracts

Conversion of Property. If, during the Term, Lessee desires to provide food and beverage operations at the Hotel which differ materially from the food and beverage operations provided at the commencement of the Term (for example, eliminating full service food and beverage operations), Lessee shall give notice of such desire to Lessor. Lessor and Lessee shall then commence negotiations to adjust Rent to reflect the proposed change to the operation of the Hotel, each acting reasonably and in good faith. All other terms of this Lease will remain substantially the same. During negotiations, which shall not extend beyond 60 days, Lessee shall not “convert” the Hotel and shall continue fulfilling its obligations under the existing terms of this Lease. If no agreement is reached after such 60-day period, Lessee shall withdraw such notice and this Lease shall continue in full force.

Conversion of Property. If, during the Term, Lessee desires to provide food and beverage operations at the Hotel which differ materially from the food and beverage operations provided at the commencement of the Term (for example, eliminating full service food and beverage operations), Lessee shall give notice of such desire to Lessor. Lessor and Lessee shall then commence negotiations to adjust Rent to reflect the proposed change to the operation of the Hotel, each acting reasonably and in good faith. All other terms of this Lease will remain substantially the same. During negotiations, which shall not extend beyond 60 days, Lessee shall not “"convert” " the Hotel and shall continue fulfilling its obligations under the existing terms of this Lease. If no agreement is reached after such 60-day period, Lessee shall withdraw such notice and this Lease shall continue in full force.

Conversion of Property. If, during the Term, Lessee desires to provide food and beverage operations at the a Hotel which differ materially from the food and beverage operations provided at the commencement of the Term (for example, eliminating full service food and beverage operations), Lessee shall give notice of such desire to Lessor. Lessor and Lessee shall then commence negotiations to adjust Rent to reflect the proposed change to the operation of the Hotel, each acting reasonably and in good faith. All other terms of this Master Lease will remain substantially the same. During negotiations, which shall not extend beyond 60 days, Lessee shall not “"convert” " the Hotel and shall continue fulfilling its obligations under the existing terms of this Master Lease. If no agreement is reached after such 60-day period, Lessee shall withdraw such notice and this Master Lease shall continue in full force.