SPECIAL RIGHTS OF OWNER Sample Clauses

SPECIAL RIGHTS OF OWNER. (a) In the event of a Sale of the Hotel by Owner to a bona fide third party that is not an Affiliate of Owner, if (i) such Sale shall occur at any time [***] of the Opening Date and on or before [***] of the Opening Date; and (ii) if the Sale of the Hotel is to a Competitor, Owner or Manager may terminate this Contract by giving written notice to the other party on or prior to the Sale of the Hotel. Termination shall be effective upon the Sale of the Hotel unless Owner and Manager agree otherwise. In the event of such a termination, Owner shall pay Manager a termination fee equal to: (i) the number [***] between the Sale of the Hotel and the [***] of the Opening Date; (ii) multiplied by [***] times the aggregate [***] during the most recent twelve (12) full calendar months preceding the Sale of the Hotel; (iii) divided by twelve (12). Owner shall have no right to terminate this Contract in connection with a Sale of the Hotel prior to the [***] of the Opening Date. If a sale of the Hotel to Person who is not a Competitor shall occur prior to the [***] of the Opening Date, the Owner (or the purchaser of the Hotel) may cause this Contract to be terminated ([***] termination fees, damages or other compensation other than fees and expenses owed up to the date of termination) effective upon the [***] of the Opening Date by giving written notice of such election to Manager not less than ninety (90) days prior to the [***] of the Opening Date.
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SPECIAL RIGHTS OF OWNER. 21 4.5 ACTIONS TO BE TAKEN ON TERMINATION ........................................22 5. INSURANCE ...........................................................................23 5.1 MAINTENANCE OF INSURANCE COVERAGE .........................................23

Related to SPECIAL RIGHTS OF OWNER

  • RIGHTS OF OWNER The Owner has the sole and absolute power to exercise all rights and privileges in this Contract. Upon the death of an Owner or the Annuitant, the Death Benefit Provisions section will apply.

  • Rights of Ownership All computer programs and procedures developed to perform services required to be provided by BISYS under this Agreement are the property of BISYS. All records and other data except such computer programs and procedures are the exclusive property of the Trust and all such other records and data will be furnished to the Trust in appropriate form as soon as practicable after termination of this Agreement for any reason.

  • RIGHTS OF OWNERSHIP; RETURN OF RECORDS All records and other data except computer programs and procedures developed to perform services required to be provided by Ultimus are the exclusive property of the Trust and all such records and data will be furnished to the Trust in appropriate form as soon as practicable after termination of this Agreement for any reason. Ultimus may at its option at any time, and shall promptly upon the Trust's demand, turn over to the Trust and cease to retain Ultimus' files, records and documents created and maintained by Ultimus pursuant to this Agreement which are no longer needed by Ultimus in the performance of its services or for its legal protection. If not so turned over to the Trust, such documents and records will be retained by Ultimus for six years from the year of creation. At the end of such six-year period, such records and documents will be turned over to the Trust unless the Trust authorizes in writing the destruction of such records and documents.

  • Rights of Members Except as otherwise provided in this Agreement, (a) each Member shall look solely to the assets of the Company for the return of its Capital Contribution, (b) no Member shall have the right or power to demand or receive property other than cash from the Company and (c) except as provided in this Agreement, no Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations.

  • ADDITIONAL RIGHTS OF HOLDERS In addition to the rights provided to Holders of Notes under the Indenture, Holders of this Regulation S Temporary Global Note will have all the rights set forth in the Registration Rights Agreement dated as of August 7, 2008, between the Company, the Guarantors and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders thereof will have the rights set forth in one or more registration rights agreements, if any, between the Company, the Guarantors and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the “Registration Rights Agreement”).

  • Rights of the Holder The Holder shall not, by virtue hereof, be entitled to any rights of a stockholder in the Company, either at law or equity, and the rights of the Holder are limited to those expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein.

  • Rights of a Shareholder Employee shall have no rights as a shareholder with respect to any shares covered by this Agreement until the date of issuance of a stock certificate to him for such shares. Except as otherwise provided herein, no adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued.

  • Rights of Owner Trustee The Owner Trustee is authorized and directed to execute and deliver the Basic Documents and each certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is to be a party, in such form as the Depositor shall approve as evidenced conclusively by the Owner Trustee’s execution thereof. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such action as the Administrator recommends and directs in writing with respect to the Basic Documents.

  • Rights of Others I understand that the Company is now and may hereafter be subject to non-disclosure or confidentiality agreements with third persons which require the Company to protect or refrain from use of proprietary information. I agree to be bound by the terms of such agreements in the event I have access to such proprietary information.

  • Incidents of Ownership The holders ----------------------- of Partnership Units as of the Record Date shall be the Initial Beneficiaries of the Trust as holders of Trust Units in the Partnership's Trust, and the Trustee shall retain only such incidents of legal ownership as are necessary to undertake the actions and transactions authorized herein.

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