Notice of Proposed Listing. In the event that the sale of the Property contemplated by this Contract is consummated, if at any time during the five (5) year period commencing on the date of execution of this Contract by Buyer and Seller, Seller or any of its Affiliates propose to list for sale any hotel property or properties owned, acquired, constructed or developed by Sellers or their Affiliates and located within a ten (10)-mile radius of any Hotel (any such other hotel property being referred to as an “Other Property”), Sellers shall promptly deliver to Buyer written notice thereof and Buyer shall have the right to see the offering and make an offer to purchase any such Other Property within 10 days after Seller gives Buyer such written notice with respect to the Other Property; provided, however, Seller shall have no obligation to accept any such offer.
Appears in 7 contracts
Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Nine, Inc.)
