Existing Franchise Agreement. The termination of the Existing Franchise Agreement.
Existing Franchise Agreement. Franchise Agreement between Sunbelt Hotel Enterprises, Inc. and Marriott International, Inc. dated March 1, 1995
Existing Franchise Agreement. Prior to the expiration of the Due Diligence Period, Seller and Purchaser shall have received written evidence that the Existing Franchise Agreement will be terminated at Closing, and that Buckhead America Corporation will incident thereto release Seller from any further obligations thereunder without the necessity of Seller paying any fees or penalties, if applicable, for early termination of the Existing Franchise Agreement.
Existing Franchise Agreement. Any event or circumstance occurs which is an Event of Default as defined pursuant to clause 21 of the Franchise Agreement or any other event or circumstance which might reasonably be expected to lead to the termination of the same occurs or exists.
Existing Franchise Agreement. Seller has furnished to Buyer true and complete copies of the Existing Franchise Agreement, which constitutes the entire agreement of the parties with respect to the subject matter thereof and which have not been amended or supplemented in any respect. There are no other management agreements, franchise agreements, license agreements or similar agreements for the operation or management of the Hotel or relating to the Brand, to which Seller is a party or which are binding upon the Property, except for the Existing Franchise Agreement. The Improvements comply with, and the Hotel is being operated in accordance with, all requirements of the Existing Franchise Agreement and all other requirements of the Franchisor, including all “brand standard” requirements of the Franchisor. The Existing Franchise Agreement is in full force and effect, and shall remain in full force and effect until the termination of the Existing Franchise Agreement at Closing, as provided in Article V hereof. No default has occurred and is continuing under the Existing Franchise Agreement, and no circumstances exist which, with the giving of notice, the lapse of time or both, would constitute such a default.
Existing Franchise Agreement. (a) Any event or circumstance occurs which is an Event of Default as defined pursuant to clause 21 of the Franchise Agreement.
(b) Any event of default (however described) occurs under the Renewed Franchise Arrangement.
(c) Any other event or circumstance which might reasonably be expected to lead to the termination of the Franchise Agreement or, as the case may be, the Renewed Franchise Arrangement occurs or exists other than the termination of the Franchise Agreement on the Franchise Expiry Date (provided the provisions of Clause 8.5 (GNER) of this Agreement are met).
Existing Franchise Agreement. Prior to the expiration of the Due Diligence Period, Purchaser shall have received written evidence that (i) the Existing Franchise Agreement will be terminated at Closing, and (ii) that Seller will incident thereto pay any and all fees or penalties, if applicable, for early termination of the Existing Franchise Agreement. Seller shall also at Closing receive an indemnification agreement (the "Days Inn Indemnification Agreement") whereby Seller indemnifies Purchaser from any damages, costs or expenses incurred by Purchaser incident to Seller's failure to satisfy its obligations contained in this Section 9.1(k).
Existing Franchise Agreement. Franchise Agreement between Sunbelt-Tallahassee, L.L.C. and Marriott International, Inc. dated October 23, 1995
Existing Franchise Agreement. Franchise Agreement between Sunbelt Hotels – Florida II, L.L.C. and Marriott International, Inc. dated April 27, 1999
Existing Franchise Agreement. The Marriott Inn Franchise Agreement dated as of October 18, 1995 by and between Marriott and Seller, as amended, which provides for the participation of the Hotel in the Marriott system of hotels, together with all supplements, modifications and amendments thereto, which Existing Franchise Agreement shall be terminated by the Seller at or prior to Closing in accordance with Section 5.5 below.
