Single Agreement; Integration. It is expressly acknowledged and agreed by Manager and Tenant that the underlying terms and conditions of this Agreement, the Pooling Agreement, the Marriott Guaranty Agreement and each and every other document and agreement entered into in connection herewith or therewith and/or contemplated hereby or thereby have been negotiated by the parties as a single integrated transaction.
Single Agreement; Integration. A. It is expressly acknowledged and agreed by each of Marriott, the Managers, Landlord and Tenant that the underlying terms and conditions of this Agreement, the Marriott Guaranty Agreement, the Management Agreements, the Franchise Agreements and each and every other document and agreement entered into in connection herewith or therewith and/or contemplated hereby or thereby (collectively, the “Deal Terms”) have been negotiated by the parties as a single integrated transaction. The fact that there exists separate Management Agreements for the different hotel brands is merely a matter of convenience to Marriott and the Managers to reflect their existing internal corporate organization. The purpose of this Agreement and the intent of the parties hereto is that the Portfolio Properties at all times constitute a single pool and a portfolio. The purpose of this Agreement is that the Portfolio Properties constitute a single pool and the Deal Terms have been established with that purpose. The aggregation and integration of the Portfolio Properties into a single pool and portfolio is a material inducement to Landlord and Tenant to agree to the Deal Terms and an underiding principle of the Deal Terms.
Single Agreement; Integration. A. It is expressly acknowledged and agreed by each of Marriott, the Managers, the Landlords and the Tenants that the underlying terms and conditions of this Agreement, the Marriott Guaranty, the Management Agreements and each and every other document and agreement entered into in connection herewith or therewith and/or contemplated hereby or thereby (collectively, the “Deal Terms”) have been negotiated by the parties as a single integrated transaction. The fact that there exists separate Management Agreements for the different hotel brands is merely a matter of convenience to Marriott and the Managers to reflect their existing internal corporate organization. The purpose of this Agreement and the intent of the parties hereto is that the Portfolio Properties at all times constitute a single pool and portfolio and the Deal Terms have been established with that purpose. The aggregation and integration of the Portfolio Properties into a single pool and portfolio is a material inducement to the Landlords and the Tenants to agree to the Deal Terms and an underlying principle of the Deal Terms.
Single Agreement; Integration. (A) It is expressly acknowledged and agreed by each of Marriott, the Managers, Landlord and Tenant that the underlying terms and conditions of this Agreement, the Guaranty, the Management Agreements, the Franchise Agreements and each and every other document and agreement entered into in connection herewith or therewith and/or contemplated hereby or thereby (collectively, the "Deal Terms") have been negotiated by the parties as a single integrated transaction. The fact that there exists separate Management Agreements for the different hotel brands is merely a matter of convenience to Marriott and the Managers to reflect their existing internal corporate organization. The purpose of this Agreement and the intent of the parties hereto is that the Portfolio Properties at all times constitute a single pool and a portfolio and the Deal Terms have been established with this understanding (e.g. The purchase price and rent for certain properties has been set at a higher amount than would be the case if such properties were the subject of a stand alone transaction or smaller group transaction and not aggregated with the Portfolio Properties. Landlord and Tenant have agreed to include certain properties in this transaction in locations in which neither would otherwise make an investment but for the existence of a portfolio.) The purpose of this Agreement is that the Properties constitute a single pool and the Deal Terms have been established with purpose). The aggregation and integration of the properties into a single pool and portfolio is a material inducement to Landlord and Tenant to agree to the Deal Terms and an underiding principle of the Deal Terms.
