Termination of Hotel Contracts Sample Clauses

Termination of Hotel Contracts. The parties expressly acknowledge and agree that the exercise by Buyer of any right under this Contract which has the effect of terminating this Contract shall be and be deemed to be a termination of the Other Hotel Contract, notwithstanding the fact that no independent termination right may have occurred under any Other Hotel Contract. To the extent that upon any such termination, Buyer is entitled to receive the return of the Xxxxxxx Money Deposit, then Buyer shall be entitled to receive the corresponding payments under the Other Hotel Contract, together with any other payments that may be required to be paid upon termination of the Other Hotel Contract.
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Termination of Hotel Contracts. The parties expressly acknowledge and agree that the exercise by Buyer of any right under this Contract which has the effect of terminating this Contract shall be and be deemed to be a termination of the Other Hotel Contracts, notwithstanding the fact that no independent termination right may have occurred under any Other Hotel Contracts. To the extent that upon any such termination, Buyer is entitled to receive the return of the Xxxxxxx Money Deposit, then Buyer shall be entitled to receive the corresponding payments under the Other Hotel Contracts, together with any other payments that may be required to be paid upon termination of the Other Hotel Contracts. The parties also agree that the exercise by the buyer(s) under either of the Other Hotel Contracts to terminate either or both of the same shall constitute a termination of this Contract, notwithstanding that no independent termination right may have occurred under this Contract. To the extent that upon such termination of either (or both) of the Other Hotel Contracts the buyer(s) thereunder is (are) entitled to receive the return of its or their xxxxxxx money deposit, Buyer shall be entitled to receive its Xxxxxxx Money Deposit and any other payments to which Buyer is entitled upon termination of this Contract.
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Termination of Hotel Contracts. If prior to the First Due Diligence Expiration Date Purchaser notifies Seller in writing of those Hotel Contracts that are terminable by their terms that Purchaser would like Seller to terminate, Seller shall (after the expiration of Purchaser's Due Diligence Period and its failure to terminate this Agreement) notify the other parties to all such identified leases and/or agreements of the termination thereof upon the first to occur of (i) the Closing Date or (ii) the earliest date such lease or agreement can be terminated by its terms (in which event such lease or agreement will be assigned to Purchaser at the Closing for the balance of the term remaining before such termination is effective), and Purchaser shall pay or reimburse Seller at Closing any fees, costs, expenses, penalties or damages due to such parties as a result of such termination, which obligation shall survive the Closing. Seller will use commercially reasonable efforts to obtain the consent of the vendor under any Hotel Contract that Purchaser does not elect to terminate whose consent is required for the assignment of such Hotel Contract to Purchaser, but the delivery of such consent at or prior to the Closing shall not be a condition to Closing and shall not relieve Purchaser of the obligation to assume such Hotel Contract at the Closing.
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Related to Termination of Hotel Contracts

  • Termination of Contracts Neither the Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any material contract or agreement referred to or described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus or filed as an exhibit to the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or by any other party to any such contract or agreement.

  • Termination of Agreements (a) Except as set forth in Section 2.7(b), in furtherance of the releases and other provisions of Section 4.1, SpinCo and each member of the SpinCo Group, on the one hand, and Parent and each member of the Parent Group, on the other hand, hereby terminate any and all agreements, arrangements, commitments or understandings, whether or not in writing, between or among SpinCo and/or any member of the SpinCo Group, on the one hand, and Parent and/or any member of the Parent Group, on the other hand, effective as of the Effective Time. No such terminated agreement, arrangement, commitment or understanding (including any provision thereof which purports to survive termination) shall be of any further force or effect after the Effective Time. Each Party shall, at the reasonable request of the other Party, take, or cause to be taken, such other actions as may be necessary to effect the foregoing.

  • Termination of Other Agreements This Agreement sets forth the entire understanding of the parties hereto with respect to the Option and Option Shares, and supercedes all prior arrangements or understandings among the parties regarding such matters.

  • Termination of Affiliate Agreements At or prior to the Closing Date, except as set forth on Schedule 5.07, unless otherwise directed in writing by Parent or provided elsewhere herein, the Company shall terminate, or cause termination of, all Affiliate Agreements, and all amounts due and payable thereunder and any and all future obligations owing thereunder shall be cancelled, in each case with no further Liabilities surviving the Closing.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Termination of Affiliate Contracts The Company shall cause all Affiliate Contracts set forth on Section 6.17 of the Company Disclosure Letter to be terminated on or prior to the Closing.

  • Assumption or Termination of Selling and Servicing Contracts by Trustee In the event the Master Servicer, or any successor Master Servicer, shall for any reason no longer be the Master Servicer (including by reason of an Event of Default), the Trustee as trustee hereunder or its designee shall thereupon assume all of the rights and obligations of the Master Servicer under the Selling and Servicing Contracts with respect to the related Mortgage Loans unless the Trustee elects to terminate the Selling and Servicing Contracts with respect to such Mortgage Loans in accordance with the terms thereof. The Trustee, its designee or the successor servicer for the Trustee shall be deemed to have assumed all of the Master Servicer's interest therein with respect to the related Mortgage Loans and to have replaced the Master Servicer as a party to the Selling and Servicing Contracts to the same extent as if the rights and duties under the Selling and Servicing Contracts relating to such Mortgage Loans had been assigned to the assuming party, except that the Master Servicer shall not thereby be relieved of any liability or obligations under the Selling and Servicing Contracts with respect to the Master Servicer's duties to be performed prior to its termination hereunder. The Master Servicer at its expense shall, upon request of the Trustee, deliver to the assuming party all documents and records relating to the Selling and Servicing Contracts and the Mortgage Loans then being master serviced by the Master Servicer and an accounting of amounts collected and held by the Master Servicer and otherwise use its best efforts to effect the orderly and efficient transfer of the rights and duties under the related Selling and Servicing Contracts relating to such Mortgage Loans to the assuming party.

  • Termination of Tax Sharing Agreements All Tax sharing agreements or similar arrangements with respect to or involving the Business shall be terminated prior to the Closing Date and, after the Closing Date, Buyer and its Affiliates shall not be bound thereby or have any liability thereunder for amounts due in respect of periods ending on or before the Closing Date.

  • Termination of Contract This contract will terminate when all the following have occurred:

  • Termination of the Contract 1) This contract can be terminated by mutual agreement, but a separate written agreement shall be signed.

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