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. 83 22.12 Construction..................................................................85 22.13
Trade Area Restriction. (a) Notwithstanding anything to the contrary in this Agreement, neither Manager nor any Affiliate shall acquire, own, manage, operate or open any hotel as a “Staybridge Suites” or “Holiday Inn” hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as a “Staybridge Suites” or “Holiday Inn” hotel that is within the Restricted Area of any Hotel operated under the same name during its Restricted Period, unless such hotel (i) is owned or leased by Owner or its Affiliate; (ii) is owned, operated, managed, franchised or under development on the Effective Date and has been specifically identified in writing at or prior to the time of the execution of the Purchase Agreement or replaces any such hotel, provided such replacement hotel does not have more than ten percent (10%) more guest rooms than the original hotel which it replaces; or (iii) is part of an acquisition by IHG or its Affiliates of an interest (including an interest as a franchisor) in a chain or group of not less than ten (10) comparable hotels (such acquisition to occur in a single transaction or a series of related transactions). The terms of this Section 24.1(a) shall apply only to “Staybridge Suites” and “Holiday Inn” 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 Manager or its Affiliates within the Restricted Area. For the avoidance of doubt, the restriction set forth in this Section 24.1(a) only applies to two or more hotels of the same brand, i.e., two or more Staybridge Suites hotels or two or more Holiday Inn hotels. A Holiday Inn hotel and a Staybridge Suites hotel within a Restricted Area shall not be deemed a violation of this Section.
(b) Notwithstanding anything to the contrary in this Agreement, neither Manager nor any Affiliate shall acquire, own, manage, operate or open any hotel as an “InterContinental” or “Crowne Plaza” hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as an “InterContinental” or “Crowne Plaza” hotel that is within the Restricted Area of any Hotel operated under the same name during its Restricted Period, unless such hotel (i) is owned or leased by Owner or its Affiliate; (ii) is owned, operated, managed, franchised or under development on the Effective Date and has been specifically approved by Owner in writing at or prior to the time of the execution of the Purchase Agreement ...
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 Wyndham Garden 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 Garden hotels (e.
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 Resort 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.
B. Neither Manager nor any of its Affiliates shall manage or operate any resort, hotel or golf facility within a two (2) mile radius of the Resort during the Initial Term or any Renewal Terms.
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. 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. 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.
