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FUTURE HOTELS Sample Clauses

FUTURE HOTELS. Lessee acknowledges and agrees that any motel and/or hotel properties leased by Lessee from any Affiliates of the Partnership (including the Landlords) from and after the Effective Date (“Future Hotels”), may at the election of the parties to the Strategic Alliance Agreement either be subject to the terms and provisions of this Agreement effective upon execution of an amendment to this Agreement (the “Amendment”) in the form of Exhibit “E” attached hereto; provided that there does not then exist an uncured Event of Default by Manager under this Agreement and the independent director approval requirements under the Strategic Alliance Agreement have been satisfied. Upon execution of such Amendment (as set forth therein), Exhibit “A” (Hotel Information), Exhibit “B” (Description of Leases), Exhibit “B-1” (Legal Descriptions for Sites), Exhibit “C” (Description of Franchise Agreements and Franchisors), Exhibit “D” (Annual Operating Budget) to this Agreement shall be amended to add the applicable information required by this Agreement with respect to the Future Hotel(s) subject of the Amendment. Effective upon execution of said Amendment, all terms and conditions of this Agreement shall be deemed amended to include and apply to such Future Hotel(s).
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FUTURE HOTELS. (a) Subject to Section 4(c) below, during the Term of this Agreement, the Company hereby agrees to cause Lessee to offer Manager the opportunity to manage any hotel property acquired by the Company or one of its subsidiaries and leased to Lessee following the date hereof (the “Future Hotel(s)”) on the terms and conditions set forth in the Form Management Agreement (as modified to reflect the Hotel Specific Information to be provided by Lessee) so long as any of the following criteria are met: i. the Future Hotel is not encumbered by a management contract that would continue beyond the date of the Company’s acquisition of the Future Hotel; ii. no termination fee is payable by the Company in connection with termination of any then existing management contract for the Future Hotel; or iii. if the then existing management contract for the Future Hotel can be terminated at the time of the Company’s acquisition of the Future Hotel upon payment of a termination fee, and Manager agrees to pay such termination fee; it being acknowledged by Company that Manager is under no obligation to pay such termination fee. (b) Not less than thirty (30) days prior to the Company’s acquisition of or investment in a Future Hotel, the Company will notify Manager in writing of the Company’s proposed acquisition of the Future Hotel and will make available all information reasonably available to the Company with respect to the Future Hotel. Manager shall have ten (10) business days from receipt of such notice to notify the Company in writing whether Manager elects to manage the Future Hotel. If Manager elects to manage the Future Hotel, (i) it shall execute a Management Agreement consistent with the Form Management Agreement with the only exceptions being for Hotel Specific Information and the base management fees which shall be determined on the structure set forth in Exhibit D, and (ii) Manager and Company shall cooperate to allow for the takeover of management by Manager upon Company’s acquisition of or investment in the Future Hotel. If Manager (i) notifies the Company that Manager does not intend to manage the Future Hotel, or (ii) fails by the end of the ten (10) business day notice period to notify the Company of its election to manage the Future Hotel, then, in either event, the Company may offer management of the Future Hotel to other hotel management companies on such term as the Company shall determine and Manager shall have no further rights with respect to that Future Ho...
FUTURE HOTELS. Lessee acknowledges and agrees that any motel and/or hotel properties leased by Lessee from any Affiliates of the Partnership (including the Landlords) from and after the Effective Date ("FUTURE HOTELS"), may at the election of the parties to the Mutual Exclusivity Agreement either be subject to the terms and provisions of this Agreement effective upon execution of an amendment to this Agreement (the "AMENDMENT") in the form of EXHIBIT "E" attached hereto, or pursuant to a management agreement in form and substance substantially similar to the terms of this Agreement with either Manager or an Affiliate of Manager (provided said Affiliate constitutes an Eligible Independent Contractor); provided that there does not then exist an uncured Event of Default by Manager under this Agreement and the independent director approval requirements under the Mutual Exclusivity Agreement have been satisfied. Upon execution of such Amendment (as set forth therein), EXHIBIT "A" (Hotel Information), EXHIBIT "B" (Description of Leases), EXHIBIT "B-1" (Legal Descriptions for Sites), EXHIBIT "C" (Description of Franchise Agreements and Franchisors), EXHIBIT "D" (Annual Operating Budget) to this Agreement shall be amended to add the applicable information required by this Agreement with respect to the Future Hotel(s) subject of the Amendment. Effective upon execution of said Amendment, all terms and conditions of this Agreement shall be deemed amended to include and apply to such Future Hotel(s). Hotel Master Management Agreement Ashford TRS Corporation
FUTURE HOTELS. 50 ARTICLE XXVII GOVERNING LAW VENUE................................................................................51
FUTURE HOTELSUpon an Event of Default, any obligations Hilton may have pursuant to Sections 2.1, 2.2, and 2.3 of the MSA to deliver, recommend or support the installation or expansion of LodgeNet VOD Services in Owned, Managed or Licensed Hotels, and any obligations Hilton may have under Schedule H of the MSA, shall terminate.
FUTURE HOTELS 

Related to FUTURE HOTELS

  • Future Assurances Each of the Assignor and the Assignee mutually agrees to cooperate at all times from and after the date hereof with respect to any of the matters described herein, and to execute such further deeds, bills of sale, assignments, releases, assumptions, notifications or other documents as may be reasonably requested for the purpose of giving effect to, evidencing or giving notice of the assignment evidenced hereby.

  • Operations and Properties Borrower shall, and shall cause each of its Subsidiaries to, act prudently and in accordance with customary industry standards in managing or operating its assets, properties, business and investments. Borrower shall, and shall cause each of its Subsidiaries to, keep in good working order and condition, ordinary wear and tear excepted, all of its assets and properties which are necessary to the conduct of its business.

  • Sustainable Development 4.1 The Authority will review the Contractor’s Sustainable Development Policy Statement and Sustainable Development Plan submitted by the Contractor in accordance with the Schedule (Sustainable Development Requirements) and then at least annually thereafter. 4.2 Sustainable Procurement Risk Assessment Methodology (SPRAM) is a tool used by the Authority to identify and mitigate any potential risks to sustainability in contracts. The process requires that each Contract be assessed for its potential social, economic and environmental risks, throughout the various stages of its lifetime. Where risks are identified, appropriate mitigation action is required to reduce or eliminate the risk to sustainability. The Authority may at times require input from the Contractor in order to ensure that this process is given the required levels of consideration.

  • Future Developments The Seller continuously monitors technological developments and applies them to Technical Data, document and information systems’ functionalities, production and methods of transmission. The Seller will implement and the Buyer will accept such new developments, it being understood that the Buyer will be informed in due time by the Seller of such new developments and their application and of the date by which the same will be implemented by the Seller.

  • Management and Operations Promotes the learning and growth of all students and the success of all staff by ensuring a safe, efficient, and effective learning environment, using resources to implement appropriate curriculum, staffing, and scheduling

  • Existing Management and Franchise Agreements Seller has furnished to Buyer true and complete copies of the Existing Management Agreement and the Existing Franchise Agreement, which constitutes the entire agreement of the parties thereto 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 Management Agreement and the Existing Franchise Agreement. The Improvements comply with, and the Hotel is being operated in accordance with, all requirements of such Existing Management Agreement and the Existing Franchise Agreement and all other requirements of the Existing Manager and the Franchisor, including all “brand standard” requirements of the Existing Manager and the Franchisor. The Existing Management Agreement and the Existing Franchise Agreement are in full force and effect, and shall remain in full force and effect until the termination of the Existing Management Agreement and the Existing Franchise Agreement at Closing, as provided in Article V hereof. No default has occurred and is continuing under the Existing Management Agreement or 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.

  • Use and Operation 3.1 Permitted Use ......................................................................................................

  • Communications and Operations Management a. Network Penetration Testing - DST shall, on approximately an annual basis, contract with an independent third party to conduct a network penetration test on its network having access to or holding or containing Fund Data. DST shall have a process to review and evaluate high risk findings resulting from this testing.

  • Production Report and Lease Operating Statements Within 60 days after the end of each fiscal quarter, a report setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to production (and the prices at which such sales were made and the revenues derived from such sales) for each such calendar month from the Oil and Gas Properties, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto and incurred for each such calendar month.

  • RELEASE OF GENERAL INFORMATION TO THE PUBLIC AND MEDIA NASA or Partner may, consistent with Federal law and this Agreement, release general information regarding its own participation in this Agreement as desired. Pursuant to Section 841(d) of the NASA Transition Authorization Act of 2017, Public Law 115-10 (the "NTAA"), NASA is obligated to publicly disclose copies of all agreements conducted pursuant to NASA's 51 U.S.C. §20113(e) authority in a searchable format on the NASA website within 60 days after the agreement is signed by the Parties. The Parties acknowledge that a copy of this Agreement will be disclosed, without redactions, in accordance with the NTAA.

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