Hotel Agreements. To Seller’s Knowledge all of the Hotel Agreements are listed on Schedule 3.11 and (i) are in full force and effect, and (ii) have not been amended or modified except as described in Schedule 3.11. As of the Effective Date, to Seller’s Knowledge, Seller has neither given nor received any written notice of any default under any Hotel Agreement which default remains uncured except as set forth in Schedule 3.11.
Hotel Agreements. The Hotel Franchise Agreement is in full force and effect and Borrower has not received any notice of any defaults which remained uncured and there are no amendments or modifications thereto not previously approved by Lender. To Borrower’s knowledge, the parties to the Hotel Franchise Agreement are in full compliance with their respective obligations thereunder and to Borrower’s knowledge, there does not exist any condition that would materially and adversely affect the ability of the Hotel Franchisor to fulfill and perform all of its obligations under the Hotel Franchise Agreement. A true, correct and complete copy of the Hotel Franchise Agreement has been delivered to the Lender. The Hotel Franchise Agreement sets forth all of the agreements and understandings between the parties thereto, and there are no other agreements, contracts, or other documents amending the Hotel Franchise Agreement, except for any documents provided to the Lender by Borrower.
Hotel Agreements. The Agent shall have received executed copies of the Hotel Documents and a so-called “comfort letter,” in form and substance reasonably satisfactory to Agent, issued by the applicable franchisor in favor of Agent with respect to the Franchise Agreements (the “Comfort Letter”).
Hotel Agreements. There are no Leased Property Agreements, Occupancy Agreements, Off-Site Facility Agreements, Operating Agreements, or Management Agreements currently in effect or otherwise affecting the Property. In addition, there is no liquor service at the Hotel and no active liquor license.
Hotel Agreements. As of the date hereof, the Hotel Management Agreement and Franchise Agreement are in full force and effect.
Hotel Agreements. Seller shall have caused all Hotel Agreements to be terminated as of the Closing Date and delivered evidence thereof to Purchaser;
