Common use of Trade Area Restriction Clause in Contracts

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 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 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 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 24.1(b) shall apply only to “InterContinental” and “Crowne Plaza” 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(b) only applies to two or more hotels of the same brand, i.e., two or more Crowne Plaza hotels or two or more InterContinental hotels. A Crowne Plaza hotel and an InterContinental hotel within a Restricted Area shall not be deemed a violation of this Section.

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 SuitesSuite” or “Holiday Inn” hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as a “Staybridge SuitesSuite” 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 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 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 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 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 SECTION 24.1(b) shall apply only to “InterContinental” and “Crowne Plaza” 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(b) only applies to two or more hotels of the same brand, i.e., two or more Crowne Plaza hotels or two or more InterContinental hotels. A Crowne Plaza hotel and an InterContinental hotel within a Restricted Area shall not be deemed a violation of this Section.

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” Suite" or “"Holiday Inn” " hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as a “"Staybridge Suites” Suite" 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 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 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 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 24.1(b) shall apply only to “InterContinental” and “Crowne Plaza” 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(b) only applies to two or more hotels of the same brand, i.e., two or more Crowne Plaza hotels or two or more InterContinental hotels. A Crowne Plaza hotel and an InterContinental hotel within a Restricted Area shall not be deemed a violation of this Section.leased

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 an “Staybridge Suites” or “Holiday InnAmeriSuites” hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as a an “Staybridge Suites” or “Holiday InnAmeriSuites” hotel that is within the Restricted Area of any AmeriSuite Hotel operated under the same name during its Restricted Period, unless such hotel (ia) is owned or leased by Owner or its Affiliate; (iib) is owned, operated, managed, franchised or under development on the Effective Date date hereof and has been specifically identified in writing at or prior to the time of the execution hereof including, without limitation, the existing AmeriSuite hotels in the Restricted Area of the Purchase Agreement or replaces any such hotelHotels in: Oxxxxxxx Xxxx, provided such replacement hotel does not have more than ten percent (10%) more guest rooms than the original hotel which it replacesXxxxxx; Xxxxxxxxx, Xxxxx Xxxxxxxx; Austin, Texas; and Orlando, Florida; or (iiic) is part of an acquisition by IHG Prime or its Affiliates of an interest (including an interest as a franchisor) in a chain or group of not less than ten twenty (1020) 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 a “InterContinental” or “Crowne PlazaPrime Hotels & Resorts” hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as an a “InterContinental” or “Crowne PlazaPrime Hotels & Resorts” hotel that is within the Restricted Area of any Prime Hotel operated under the same name during its Restricted Period, unless such hotel (ia) is owned or leased by Owner or its Affiliate; (iib) is owned, operated, managed, franchised or under development on the Effective Date date hereof and has been specifically approved by Owner 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 is not first opened after such time and does not have more than ten percent (10%) more guest rooms than the original hotel which it replaceshereof; or (iiic) is part of an acquisition by IHG Prime or its Affiliates of an interest (including an interest as a franchisor) in a chain or group of not less than five twenty (520) comparable full service hotels (such acquisition to occur in a single transaction or a series of related transactions). The terms of this Section 24.1(b) shall apply only to “InterContinental” and “Crowne Plaza” 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(b) only applies to two or more hotels of the same brand, i.e., two or more Crowne Plaza hotels or two or more InterContinental hotels. A Crowne Plaza hotel and an InterContinental hotel within a Restricted Area shall not be deemed a violation of this Section.

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” Suite" or “"Holiday Inn” " hotel nor shall Manager or any Affiliate authorize a third party to operate or open any hotel as a “"Staybridge Suites” Suite" 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 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 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 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 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 SECTION 24.1(b) shall apply only to “"InterContinental” " and “"Crowne Plaza” " 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(b) only applies to two or more hotels of the same brand, i.e., two or more Crowne Plaza hotels or two or more InterContinental hotels. A Crowne Plaza hotel and an InterContinental hotel within a Restricted Area shall not be deemed a violation of this Section.