Trade Area Restriction. Notwithstanding anything to the contrary in this Agreement, except for Travel Centers owned by Landlord or any Affiliated Person of Landlord, neither Tenant nor any Affiliated Person of Tenant shall acquire, own, franchise, finance, lease, manage, operate or open any Travel Center or similar business (it being agreed by Landlord and Tenant that convenience stores which provide services primarily to non-professional drivers shall not be a “similar business”) within seventy-five (75) miles in either direction along the primary interstate on which any Property is located without Landlord’s consent, which consent may be given or withheld in Landlord’s sole discretion. Notwithstanding the foregoing, Landlord confirms that, subject to the other terms and conditions of this Agreement, Tenant or any Affiliated Person of Tenant may acquire, own, franchise, finance, lease, manage, operate or open the Travel Centers identified on Exhibit B attached hereto.
Trade Area Restriction. 69 20.12 Construction...........................................70 20.13
Trade Area Restriction. Notwithstanding anything to the contrary in this Agreement, neither Tenant nor any Affiliated Person of Tenant shall acquire, own, franchise, finance, lease, manage, operate or open any Travel Center or similar business within seventy-five (75) miles in either direction along the primary interstate on which any Property is located without Landlord's consent, which consent may be given or withheld in Landlord's sole discretion.
Trade Area Restriction. Neither Tenant nor any of its Affiliated Persons shall own, build, franchise, manage or operate any full-service Wyndham Hotel within the designated area on Exhibit D, at any time during the Term; it being expressly understood and agreed that hotels other than Wyndham Hotels (e.g. garden hotels or resort hotels) are not subject to the foregoing restriction.
Trade Area Restriction. Notwithstanding anything to the contrary in this Agreement, prior to the fifth (5th) anniversary of the Commencement Date, neither Tenant nor any Affiliated Person as to Tenant will acquire, own, manage, operate or open any hotel as an "InterContinental" hotel nor shall Tenant or any such Affiliated Person authorize a third party to operate or open any hotel as an "InterContinental" hotel within the restricted area depicted on EXHIBIT B unless such hotel (i) is owned or leased by Landlord or its Affiliate, (ii) is owned, operated, managed, franchised or under development on the Commencement Date and has been specifically approved by Landlord in writing at or prior to the time of the execution of the Purchase Agreement or replaces any such hotel, provided such replacement hotel is not first opened after such time and does not have more than ten percent (10%) more guest - 70 - rooms than the original hotel which it replaces, or (iii) is part of an acquisition by Tenant or its Affiliates of an interest (including an interest as a franchisor) in a chain or group of not less than five (5) comparable full service hotels (such acquisition to occur in a single transaction or a series of related transactions). The terms of this SECTION 20.11 shall apply only to "InterContinental" hotels and shall not in any way restrict the ownership, management, franchising or operation of other brands or flags of any hotels owned or operated by Tenant or its Affiliates within the State.
Trade Area Restriction. A. Neither Manager nor any of its Affiliates shall manage or operate any resort, hotel or golf facility within a twenty (20) mile radius of the Golf Club during the period from the Effective Date through the seventh (7th) anniversary after the Effective Date ("Restricted Period"). In the event Manager violates such trade area restriction during the Restricted Period, Owner may, as a one (1) time right, terminate this Agreement within one hundred eighty (180) days after the opening of the facility within this restricted trade area and Manager will pay Owner a one (1) time fee of Two Hundred Fifty Thousand Dollars ($250,000). Owner and Manger agree that the Owner's damages resulting from Manager's violation of the trade area restriction of this Section 11.13 would be difficult, if not impossible, to determine and the foregoing fee is a fair estimate of those damages which has been agreed to in an effort to cause the amount of said damages to be certain.
Trade Area Restriction. Notwithstanding anything to the contrary in this Agreement, neither Tenant nor any Affiliated Person of Tenant shall acquire, own, franchise, finance, lease, manage, operate or open any Travel Center or similar business (other than any Travel Center leased to Tenant or any Affiliated Person of Tenant by Landlord or any Affiliated Person of Landlord) within seventy-five (75) miles in either direction along the primary interstate on which any Property is located without Landlord’s consent, which consent may be given or withheld in Landlord’s sole discretion.
Trade Area Restriction. The Lease is hereby amended by deleting Section 21.11 thereof in its entirety and replacing it with the following: “Notwithstanding anything to the contrary in this Agreement, except for Travel Centers owned by Landlord or any Affiliated Person of Landlord, neither Tenant nor any Affiliated Person of Tenant shall acquire, own, franchise, finance, lease, manage, operate or open any Travel Center or similar business (it being agreed by Landlord and Tenant that convenience stores which provide services primarily to non-professional drivers shall not be a “similar business”) within seventy-five (75) miles in either direction along the primary interstate on which any Property is located without Landlord’s consent, which consent may be given or withheld in Landlord’s sole discretion. Notwithstanding the foregoing, Landlord confirms that, subject to the other terms and conditions of this Agreement, Tenant or any Affiliated Person of Tenant may acquire, own, franchise, finance, lease, manage, operate or open the Travel Centers identified on Exhibit D attached hereto.” The Lease is further amended by adding Exhibit D attached hereto as Exhibit D to the Lease.
Trade Area Restriction. Neither Tenant nor any of its Affiliated Persons shall own, build, franchise, manage or operate any Summerfield Suites hotel within the designated area on Exhibit C, at any time during the Term; it being expressly understood and agreed that hotels other than Summerfield Suites hotels (e.g., garden, full service, Sierra Suites or resort hotels) are not subject to the foregoing restriction.
Trade Area Restriction. Neither Tenant, Candlewood nor any of their Affiliated Persons shall own, build, franchise, manage or operate a hotel of the same brand as the Hotels within the designated areas on Exhibit B (the "Designated Areas"), at any time during the Term.
