Operation of Hotel. If at any time during the Term it becomes necessary in Manager’s reasonable opinion to cease or alter operations at any Hotel in order to protect the health, safety and welfare of the guests and/or employees of such Hotel, or such Hotel itself, for reasons of force majeure beyond the control of Manager such as, but not limited to, acts of war, insurrection, civil strife and commotion, labor unrest or acts of God, then in such event Manager may close and cease or alter operation of all or part of such Hotel, reopening and commencing or resuming operation when Manager deems that such may be done without jeopardy to such Hotel, its guests and employees.
Operation of Hotel. If at any time during the Initial Term and any Renewal Term(s) hereof it becomes necessary in Manager’s reasonable opinion to cease or alter operations at the Hotel in order to protect the health, safety and welfare of the guests and/or employees of the Hotel, or the Hotel itself, for reasons of force majeure beyond the control of Manager such as, but not limited to, acts of war, insurrection, civil strife and commotion, labor unrest or acts of God, then in such event Manager may close and cease or alter operation of all or part of the Hotel, reopening and commencing or resuming operation when Manager deems that such may be done without jeopardy to the Hotel, its guests and employees.
Operation of Hotel. Prior to the Closing, unless Purchaser consents otherwise, which consent will not be unreasonably withheld, conditioned or delayed:
5.3.1. Each Seller shall a continue to operate its respective Hotel in the ordinary course pursuant to the Existing Management Agreement consistent with the practices and procedures in effect as of the Contract Date, except to the extent that this Agreement expressly provides otherwise.
5.3.2. Each Seller shall continue to maintain the insurance currently carried by such Seller with respect to its respective Hotel.
5.3.3. Seller shall not enter into, amend or otherwise modify any Contract or Tenant Lease unless (i) any such new Contract or Tenant Lease or such amendment or modification will not be binding after the Closing, (ii) any such new, amended or modified Contract or Tenant Lease is an extension or renewal of, or replacement for, a Contract or Tenant Lease existing as of the Contract Date on substantially similar terms, allowing for a reasonable adjustment in the price or rent charged thereunder to reflect market conditions in such Seller’s reasonable judgment, and which new, amended or modified Contract or Tenant Lease may be with a new contracting third party or parties in such Seller’s reasonable judgment, (iii) any such new, amended or modified Contract or Tenant Lease is terminable by Purchaser without penalty after the Closing on no more than sixty (60) days’ notice, or (iv) the same is a purchase order for goods or services, or a reservation for rooms or other facilities, entered into in the ordinary course of business of such Hotel consistent with the practices and procedures in effect as of the Contract Date. Nothing set forth in this Section 5.3.3 shall restrict the right of Manager under the Existing Management Agreement to enter into, amend or otherwise modify any Contracts or Tenant Leases, except that Seller shall not consent or approve of the same (to the extent that Seller has the right under the Existing Management Agreement to withhold such consent or approval) except in accordance with the requirements of this Section 5.3.3.
5.3.4. Seller shall not terminate any Contract or Tenant Lease unless the same is terminated as a result of the default or nonperformance of a party thereto other than Seller. Nothing set forth in this Section 5.3.4 shall restrict the right of Manager under the Existing Management Agreement to terminate such Contract or Tenant Lease, except that Seller shall not consent or approve...
Operation of Hotel. Manager shall not operate the Hotel in any manner or for any purposes, other than as herein set forth.
Operation of Hotel. The Lessee will use the Premises for the purposes of, and for no other purpose than, maintaining and operating the Hotel, the Tennis Center, and the rental and management of villas, condominiums and apartments, including all facilities and related commercial retail operations, operated by Lessee or Concessionaires, reasonably related to a resort hotel operation; provided, however, Lessee agrees not to engage in the business of renting villas, condominiums and apartments so long as Lessor is actually renting villas, condominiums and apartments in the Kapalua Resort Area. Lessee agrees that Lessee will maintain and operate a hotel at the Premises at quality standards generally found in those full service resort hotels in the State of Hawaii with at least a 4- Diamond rating from the American Automobile Association as of January 1, 1996. Lessee covenants that it will in good faith diligently and continuously operate the Hotel in accordance with reasonable business practices. Any commercial operations on the Premises, whether conducted by Lessee or a Concessionaire, involving any unreasonably noisy, dangerous or obnoxious activities or the leasing or rental of unreasonably noisy, dangerous or obnoxious equipment, including without limitation water ski rides or instruction and rental of "jet skis", mopeds or similar items, shall require the prior written approval of Lessor and Lessor may unreasonably withhold such approval or require the termination of any such commercial operations then in existence on the Premises. Since only a hotel operation is intended as aforesaid, the area on the Premises occupied by commercial retail operations (exclusive of the area occupied by any and all restaurants, laundries, health clubs and other similar facilities proximately related to the operation of a hotel to a standard provided in this Lease) shall not exceed the initial area (plus up to ten (10%) percent more) agreed upon in the initial construction of the Hotel. The Lessee shall use its best efforts to ensure that any concession, commercial activity, or other Hotel activity shall be in keeping with the first-class image of the Kapalua Resort Area.
Operation of Hotel. (a) Tenant shall operate the Property as a hotel in a first-class manner at least equal to the quality of Lessor's prior operation of the Hotel.
(b) Included within the Property leased to Tenant under this Lease is all personal property, furnishings, fixtures, and inventory owned by Lessor used in connection with the operation of the Hotel except for that personal property which Lessor, as part of the Inspection Documents, lists for Tenant as being excluded from this Lease, which list must be approved during the Inspection Period. The agreements for use of any other personal property now used in connection with the operation of the Property but not owned by Lessor shall be provided to Tenant as part of the Inspection Documents. Tenant will only assume at the Commencement Date such agreements for use of maintenance of personal property or fixtures as it approves during the Inspection Period. Tenant agrees to maintain the furnishings, fixtures, and inventory in the operation of the Hotel at normal levels. The office off the lobby, Xxxx 000, will be made available to lessor without charge of any kind through December 31, 1997 solely for the purpose of concluding prior hotel business. ________________________________________________________________________________ 4 Va-Alta/Cavanaughs Lease 9/15/97
(c) Tenant agrees to make, throughout the term of this Lease, such replacements of furnishings, fixtures, and inventory as is reasonably necessary to operate the Hotel in compliance with this entire Section 8, or may upgrade furnishings, fixtures and equipment, and such replacements shall be the property of the Lessor. In the ordinary course of such replacements, Tenant may dispose of the replaced personal property. In the event of replacement of the personal property, which involves wholesale replacement of substantial amounts of the property, such as renovating rooms or replacing television sets, at least thirty (30) days advance notice shall be given to Lessor along with a brief description of the plan of action to accomplish replacement, and the reasons therefor. All such replacement furnishings, fixtures and inventory shall become the property of Lessor upon termination of the Lease free and clear of any purchase money or other lien. Tenant shall be entitled to any proceeds of salvage or disposition of the obsolete or removed property. Lessor shall be entitled to updated inventory lists as prepared by Tenant, and to have the right to conduct, at Lessor's own ex...
Operation of Hotel. Borrower shall cease operation of the Property as a hotel within sixty (60) days of the date hereof; provided that if such time is insufficient to cease operation of the Property as a hotel, then upon written request of Borrower to Lender, Lender may, in its reasonable discretion, grant an additional thirty (30) day period during which the operation of the Property as a hotel shall cease.
Operation of Hotel. Cavanaughs shall operate the Property as a hotel in a first-class manner at least equal to the quality of Stellar's prior operation of the Hotel. Included within the Property managed under this Management Agreement is all personal property, furnishings, fixtures, and inventory owned by Stellar used in connection with the operation of the Hotel.
Operation of Hotel. If at any time during the term hereof it becomes necessary in a party’s reasonable opinion, after notification to Operator, to cease operation of the Hotel in order to protect the Hotel and/or the health, safety and welfare of the guests and/or employees of the Hotel for reasons including, without limitation, acts of war, civil strife and commotion, labor unrest, acts of God including wind storms and flooding, or government ordered evacuations, but specifically excluding general economic events or conditions or any cause beyond the reasonable control of such party such as strike, lockout, breakdown, accident, order or regulation of or by any governmental authority, failure of supply or inability, by the exercise of commercially reasonable efforts, to obtain supplies, parts or employees necessary to perform Manager’s obligation hereunder (“Force Majeure”), then in such event such party may suspend performance hereunder for the length of time of any such Force Majeure.
Operation of Hotel. Lessee shall operate, maintain and keep open at ------------------ all times (except to the extent required by damage or condemnation) the Property as a hotel in a manner at least equal to the quality of Lessor's prior operation of the Hotel and in compliance with all loan documents secured by the Property as follows:
a) Lessee agrees to provide monthly operating statements to Lessor and to maintain the furnishings, fixtures, and inventory in the operation of the Hotel at normal levels.
b) Lessee agrees to make, throughout the term of this Lease, such replacements of furnishings, fixtures, and inventory as is reasonably necessary to operate the Hotel in compliance with this Lease, or may upgrade furnishings, fixtures and equipment, and such replacements shall be the property of the Lessee, provided such items shall be left on the Property and become the property of Lessor in the event of the termination of this Lease other than by purchase under Section 30 below. In the ordinary course of such replacements, Lessee may dispose of the replaced personal property. In the event of replacement of the personal property, which involves wholesale replacement of substantial amounts of the property, such as renovating rooms or replacing television sets, at least thirty (30) days advance notice shall be given to Lessor along with a brief description of the plan of action to accomplish replacement, and the reasons therefor. All such replacement furnishings, fixtures and inventory shall become the property of Lessor upon termination of the Lease free and clear of any purchase money or other lien. Lessee shall be entitled to any proceeds of salvage or disposition of the obsolete or removed property. Lessor shall be entitled to updated inventory lists as prepared by Lessee, and to have the right to conduct, at Lessor's own expense, audits of the inventory, fixtures, furnishings, televisions and the like. No such equipment of furnishings or fixtures shall have a brand name placed thereon of the hotel of such a character as to make the property not readily useable by any successor hotel operator or franchise.
c) In the event Lessor is of the belief that the Property is not being adequately maintained or the inventory is inadequate, the parties shall consult and attempt to reach a plan rapidly to resolve the ________________________________________________________________________________ 4 Ridpath Lease-Option 10/7/97 issue. Should this fail, and only as to the matters conta...
