Operation of the Hotel. The Hotel shall be operated as a [ ] Hotel for the term hereof, and Owner shall cause Franchisee to operate the Hotel in accordance with the terms of the Franchise Agreement. Failure of the Owner to cause the Hotel to be so operated shall be a material default by Owner hereunder giving Franchisor the right to terminate this Agreement and the Franchise Agreement.
Operation of the Hotel. The Hotel will be operated as a System Hotel for the term hereof. Owner shall cause Franchisee to operate the Hotel in accordance with the terms of the Franchise Agreement. Failure of Owner to comply with the provisions of this Section 8 will be a material default by Owner hereunder giving Franchisor the right to terminate this Agreement and the Franchise Agreement.
Operation of the Hotel. (i) Operator shall have exclusive control and discretion in the operation and management of the Hotel, including, but not limited to:
(a) the establishment and implementation of Hotel personnel policies (including the hiring and discharge of all the Hotel personnel), work rules and regulations, wage rates and benefits, and employee management and training systems;
(b) the institution and maintenance of continuous programs for the recruitment and of training of the Hotel personnel including executive staff;
(c) the selection and procurement of Operating Equipment, Operating Supplies and all other items required for the operation of the Hotel, including the selection of suppliers;
(d) the establishment of food and beverage policies (including the pricing and selection of food and beverages), and the conduct of catering operations outside the Hotel;
(e) the establishment and implementation of policies regarding sales, promotion, marketing, advertising and publicity;
(f) the enrollment of the Hotel in any Centralized Services as Operator considers appropriate;
(g) the setting of terms and conditions of admittance to guest rooms and the Hotel facilities, charges for rooms and the other Hotel facilities, and the establishment of guest entertainment policies;
(h) the setting of credit policies (including the entering into agreements with credit and organizations);
(i) the maintenance of the Hotel;
(j) accounting and budgeting, and
(k) the institution of such legal proceedings, as Operator shall consider appropriate in connection with the management and operation of the Hotel.
(ii) For the purpose of managing and operating the Hotel, Operator may enter into:
(a) such contracts, agreements and other undertakings as agent for Owner as it shall consider appropriate, and Owner, upon request of Operator, shall cooperate in finalizing all necessary documents; and
(b) a management support services agreement with any member of the Sheraton Group providing for the payment of a fee by Operator to such member for its expertise and assistance in connection with the management and operation of the Hotel provided that such fees shall; be paid by Operator from fees payable to it hereunder and shall not e Operating Expenses.
(iii) Operator may provide food and lodging and use of the Hotel facilities to the Hotel personnel in accordance with the personnel policies established by Operator. The Hotel's executive personnel and their families and visiting Sheraton Group's executives a...
Operation of the Hotel. AFTER THE OPENING DATE
Operation of the Hotel. Subject to the terms of this Agreement, Hyatt shall be responsible for and have the authority to direct all aspects of the pre-opening activities and operation of the Hotel, including:
(i) personnel management and human resources policies, including selection, training, residence / work permits, allocation, promotion, transfer and dismissal of all employees of the Hotel; determining and implementing staffing models, conditions of employment, salary, and benefit structures; and resolving employment disputes; provided that, notwithstanding the foregoing, Owner shall have the right to reasonably approve a salary set by Hyatt for a Management Personnel if such salary is not (a) reasonably consistent with the local market in the Condesa neighborhood of Mexico City, for such Management Personnel, (b) based on or determined in accordance with Hyatt’s policies, and (c) established by Hyatt in the ordinary course of business;
(ii) determining the terms of guest admittance, use of the Hotel for customary purposes, and charges for rooms and Hotel services, including food and beverage and use of recreational, entertainment, and other guest facilities (it being understood and agreed that Hyatt shall have the right, in its discretion, to grant discounted or complimentary rooms or Hotel services when it reasonably deems the same to be in the best business interests of the Hotel, consistent with Hyatt’s standard policies and procedures in effect from time to time);
(iii) the planning, supervision, and implementation of (a) all aspects of the promotion, publicity, marketing, sales, and public relations activity of the Hotel and (b) all aspects of the booking and reservations process;
(iv) implementing policies concerning the purchase of inventories, supplies, FF&E, Operating Equipment, utilities, equipment maintenance, communications services, security protection, and other goods and services necessary for the operation of the Hotel;
(v) collection of Revenue and payment of Operating Expenses;
(vi) implementing credit policies towards suppliers and customers of the Hotel, as well as negotiating commercial terms and conditions with credit institutions, including those that issue credit cards;
(vii) implementing cash management policies, including with respect to receipt of payments, collection of income, and issuance of receipts for all services and any income from the operation of the Hotel;
(viii) implementing a system of financial management, accounting, and bookkeeping;...
Operation of the Hotel. The buildings, plants, structures, and equipment of the Hotel are sold in “as is” condition and after the Closing shall be in substantially the same manner as conducted prior to the Closing.
Operation of the Hotel. A. Franchisee understands and acknowledges that each and every standard, specification and procedure of the System is essential in order to maintain the exceptional quality and guest service of Residence Inn by Marriott hotels and enhance public acceptance of, and demand for, Residence Inn by Marriott hotels. Franchisee shall conduct the Franchised Business in strict conformity with the standards, specifications and procedures set forth in the Manual (as described below at Section XL.), which standards, specifications and procedures shall be applied consistently to all System hotels; provided, however, if the market area or the physical peculiarities of a hotel in the System warrant, in the Reasonable Business Judgment of Franchisor, a deviation from such provisions, then in such event Franchisor may allow such deviation. Franchisee shall not deviate from the requirements of the Manual, as it may be modified by Franchisor, and shall not otherwise operate in any manner that reflects adversely on the System, the Proprietary Marks, the goodwill associated therewith or Franchisor’s right therein, or interferes with or impairs the use of the property as a System hotel.
B. Franchisee shall use the Hotel premises solely for the operation of the Franchised Business and refrain from using or suffering the use of the premises for any other purpose or activity at any time. Franchisee shall not provide, or allow others to provide, any guest service at the Hotel except as prescribed in the Manual.
C. Franchisee shall ensure that no part of the Hotel or the System, without limitation, is used to further or promote (i) any lodging business (including any other hotel operated by Franchisee or in which Franchisee or a principal of Franchisee holds an interest) operated under a trade name or trademark not owned by Franchisor or its Affiliates, including without limitation advertising or promotion of hotels, vacation or time-sharing facilities (or any similar product sold on a fractional or other basis with use rights on a weekly or other periodic basis), conference centers or other lodging products, or (ii) except as expressly permitted in the Manual, any business or concession at the Hotel including, but not limited to, car rental agencies, airline counters or gift shop (if the gift shop is not operated by Franchisee), unless the Franchisee first obtains the prior written consent of Franchisor, which consent may be withheld at Franchisor’s sole discretion. Franchisee shall...
Operation of the Hotel. Seller, during the term of this Agreement, shall carry on the business and operations of the Hotel in the Ordinary Course. Prior to the Closing Date, Seller shall maintain (or replace with policies of like amounts) all existing insurance policies insuring the Property and the operation of the Hotel. Seller may extend, amend, modify or terminate any of the contracts and leases pertaining to the Hotel, and enter into any new contracts and leases, as Seller deems appropriate to operate, service and maintain the Property in the Ordinary Course; provided, however, that so long as Purchaser is not in default of any of its obligations under this Agreement, (a) from the date of this Agreement to the expiration of the Due Diligence Period, Seller shall provide to Purchaser copies of any such extensions, amendments, modifications and terminations, and any new contracts and leases, which Seller has entered into, or intends to enter into, and (b) from and after the expiration of the Due Diligence Period, Seller shall not enter into any such extensions, amendments, modifications or terminations, or any new contracts and leases, without the prior consent of Purchaser (which consent shall not be unreasonably withheld, delayed or conditioned).
Operation of the Hotel. Subject to the applicable Approved Operating Plan and provided funds are made available therefor, Operator shall, as agent of Owner and in the name of Owner, perform the following services, or cause the same to be performed for the Hotel:
Operation of the Hotel. Subject to the terms of this Agreement, Seller, during the term of this Agreement, shall carry on the business and operations of the Hotel in substantially the same manner as heretofore carried on by it. Seller shall pay and perform all of its material obligations and otherwise comply with all of the material terms and conditions of the covenants and other agreements of record reflected in the Permitted Exceptions, the Contracts, the Franchise Agreement, the Existing Indebtedness (and all documents evidencing, securing or relating to the Existing Indebtedness (including, but not limited to, causing any guarantors and indemnitors to perform their obligations thereunder)). Prior to the Closing Date, Seller shall maintain (or replace with policies of like amounts) all existing insurance policies insuring the Property and the operation of the Hotel. Seller shall not remove any of the Personal Property from the Real Property, unless such removal is in the ordinary course of Seller’s business and Seller replaces the same with like items that are of equal or better quality and condition. Seller shall maintain the Inventory, the Food Inventory and the Alcoholic Beverages consistent with Seller’s past practices, and will replenish the same consistent with its past practices. Following the Effective Date of this Agreement, Seller may, extend, amend, modify or terminate any of the existing Contracts, including any leases of furniture, fixtures or equipment for the Hotel, and may enter into new Contracts as Seller deems appropriate to operate, service and maintain the Property consistent with normal business practices, and may enter into new Contracts; provided, however, that (i) Seller shall not enter into or amend, modify or extend any Material Contracts unless (a) Seller provides Purchaser with a copy of such new Material Contract or amendment, modification or extension of an existing Material Contract prior to or within two (2) business days after Seller’s execution thereof, and (b) commencing two (2) business days prior to the expiration of the Due Diligence Period and continuing through the Close of Escrow or earlier termination of this Agreement, so long as Purchaser is not in default of any of its obligations under this Agreement, Seller shall have obtained the prior written consent of Purchaser, which consent shall not be unreasonably withheld or delayed, (ii) Seller shall not enter into, or amend, modify or extend any leases of furniture, fixtures or equipme...
