Transfer to Other Persons. Franchisor may Transfer this Agreement to any Person that assumes Franchisor’s obligations to Franchisee, is reasonably capable of performing Franchisor’s obligations and acquires substantially all of Franchisor’s rights in System Hotels, without prior notice to, or consent of, Franchisee. Franchisee agrees that any such Transfer will constitute a release of Franchisor and a novation of this Agreement.
Appears in 4 contracts
Samples: Franchise Agreement (Moody National REIT II, Inc.), Franchise Agreement (Moody National REIT I, Inc.), Franchise Agreement (Moody National REIT II, Inc.)
Transfer to Other Persons. Franchisor may Transfer this Agreement to any Person that assumes Franchisor’s obligations to FranchiseeOwner, is reasonably capable of performing Franchisor’s obligations obligations, and acquires substantially all of Franchisor’s rights in for System Hotels, without prior notice to, or consent of, FranchiseeOwner. Franchisee Owner agrees that any such Transfer will constitute a release of Franchisor and a novation of this Agreement.
Appears in 3 contracts
Samples: Franchise Agreement (Moody National REIT II, Inc.), Franchise Agreement (Moody National REIT I, Inc.), Franchise Agreement (Moody National REIT II, Inc.)
