Operation of Other Managed Resorts Sample Clauses

Operation of Other Managed Resorts. Tenant acknowledges that it has selected Manager to Operate the Manager Operated Areas on behalf of Tenant in substantial part because of Manager’s, and Affiliates of Manager’s, management and operation of a chain of first-class hotels and resorts. Tenant further acknowledges that it has determined, on an overall basis, that the benefits of (a) utilizing Manager’s and its Affiliates’ expertise, especially in the [ ] market; and (b) having the Resort operated as part of the Managed Resorts are substantial, notwithstanding that all hotels owned, Operated and/or managed by Manager might not benefit equally. Tenant acknowledges that Manager and/or its Affiliates presently own and manage various hotel and casino properties around the world including those located within the State of Nevada and in Las Vegas or Xxxxx County (i.e., [Caesars Palace, Xxxxxx’x Las Vegas, Xxxxxx’x Xxxxxxxx, Flamingo Las Vegas, Rio Las Vegas, Paris Las Vegas, Bally’s Las Vegas, Bill’s Xxxxxxx’ Hall and Saloon, Planet Hollywood and Imperial Palace]) and in Xxxxxxxx Xxxx, Xxx Xxxxxx (i.e., [Xxxxxx’x Atlantic City, Showboat Atlantic City, Bally’s Atlantic City and Caesars Atlantic City]), which may directly or indirectly compete with the business of the Hotel. Tenant further acknowledges that in certain respects all hotels and casinos compete on a national, regional and local basis with other hotels and casinos, and that conflicts may, from time to time, arise between the Hotel and the Casino and/or the Resort and the Other Managed Resorts. Accordingly, provided that Manager is at all times operating the Resort in compliance with the Operating Standard, Tenant shall have no right to object to and hereby waives any conflict in the ownership and Operation by Manager or its Affiliates of any and all Other Managed Resorts (including the Other Managed Resorts). In furtherance of the foregoing, Manager shall have no obligation to minimize conflict between the Resort and the Other Managed Resorts but intends to proceed, in its Operation of the Manager Operated Areas and in the operation and management of the Other Managed Resorts, in a good faith manner and in a manner reasonably deemed to serve the overall best interests, on a long term basis, of the Managed Resorts as a group. The Parties agree that this Section 2.2 shall constitute the entirety of Manager’s obligations with respect to any such potential conflicts of interest regarding competition between the Hotel and the Casino and/or the Re...
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Operation of Other Managed Resorts

  • Description of Accounting Services on a Continuous Basis PFPC will perform the following accounting services with respect to each Portfolio:

  • Management and Operation of Business 37 6.1 Management...................................................................................37 6.2 Certificate of Limited Partnership...........................................................38 6.3 Restrictions on General Partner's Authority..................................................38 6.4 Reimbursement of the General Partner.........................................................39 6.5

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.

  • Management and Operations of Business 30 Section 7.1 Management .............................................................. 30 Section 7.2 Certificate of Limited Partnership ...................................... 34 Section 7.3 Restrictions on General Partner's Authority ............................. 34 (i) 3 Section 7.4 Reimbursement of the Crescent Group ..................................... 35 Section 7.5 Outside Activities of the Crescent Group ................................ 35 Section 7.6 Contracts with Affiliates ............................................... 36 Section 7.7 Indemnification ......................................................... 36 Section 7.8 Liability of the General Partner ........................................ 39 Section 7.9 Other Matters Concerning the General Partner ............................ 39 Section 7.10 Title to Partnership Assets ............................................ 40 Section 7.11 Reliance by Third Parties .............................................. 40 Section 7.12 Limited Partner Representatives ........................................ 41

Time is Money Join Law Insider Premium to draft better contracts faster.