Existing Hotels definition

Existing Hotels has the meaning set forth in the Recitals.
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Existing Hotels means Hotels that are managed or owned by Marriott as of the Effective Date.
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Existing Hotels means the Hotels listed on Exhibit A attached hereto, as such Exhibit A is amended or supplemented from time to time by written agreement between FelCor and BHR. GAAP--shall mean, as of any date of determination, accounting principles (a) set forth as generally accepted in then currently effective Opinions of the Accounting Principles Board of the American Institute of Certified Public Accountants, (b) set forth as generally accepted in then currently effective Statements of the Financial Accounting Standards Board or (c) that are then approved by such other entity as may be approved by a significant segment of the accounting profession in the United States of America. The term "consistently applied," as used in connection therewith, means that the accounting principles applied are consistent in all material respects to those applied at prior dates or for prior periods. Guaranty--shall mean a Guaranty of a Percentage Lease substantially in the form attached hereto as Exhibit C. Hostile Change of Control--shall mean, at the relevant time, (i) any event resulting in any "person" or "group" (within the meaning of Sections 13(d) and 14(d) of the 1934 Act), other than United/Harvxx Xxxdings, L.P. or any Affiliate thereof, becoming the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the 1934 Xxx) xxrectly or indirectly, of more than fifty percent (50%) of the total voting power of all classes of capital stock of BHR or, if applicable, the ultimate parent ("Parent"), at the relevant time, of BHR or a Lessee or an Affiliated Manager then outstanding and entitled to vote generally in elections of directors ("Voting Stock") and such beneficial ownership was acquired within a period of two (2) years following a tender offer by such person (or any of its Affiliates) for shares of Voting Stock of such Parent or a solicitation of proxies with respect to Voting Stock of such Parent by such person, if, in either case, such tender offer or solicitation of proxies was not approved by a majority of the Board of Directors of such Parent in office at the time such tender offer or proxy solicitation was commenced, or (ii) a majority of the Board of Directors of the Parent, at the relevant time, being constituted of individuals who were elected pursuant to a solicitation of proxies with respect to Voting Stock of such Parent, if such solicitation of proxies was not approved by a majority of the Board of Directors of such Parent in office at the time such solicitation...
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Examples of Existing Hotels in a sentence

  • The Percentage Leases will require Lessors to be responsible for the completion of certain contemplated renovations to Existing Hotels as generally set forth in the budgets on Schedule 1 hereto, with the nature and timing of such renovations to be agreed to between the parties in good faith.

  • BHR represents that, except with respect to the Percentage Lease for, and Lessee of, the Chateau LeMoyne Hotel (to the extent included in the Existing Hotels), on the Closing Date, each Lessee will be a wholly-owned subsidiary of BHR and BHR will have sole economic and voting interest in each Lessee.

  • A "MATERIAL DEFAULT" in the case of TSG shall be defined as a breach of this Agreement which constitutes a continuous failure by TSG to perform one or more of the TSG Services, which failure prevents Customer from providing the Customer products or services to the New or Existing Hotels.

  • In addition, TSG shall credit toward such minimums any other Net Reservations made on SPIRIT by customers of Customer other than the Existing Hotels.

  • TELFORD & WREKIN - NEW HOTELS 2008-2013 HotelStandard2.2.2 Investment in Existing Hotels  A number of hotels in Telford and the surrounding area have seen investment in the period since 2008, mostly in terms of refurbishment programmes.

  • As of the Effective Date, one or more Venture Vehicles is the fee simple owner of the Existing Hotels (which the Members agree has an aggregate fair market value, as of the Effective Date, of $910,000,000) [SUBJECT TO WORKING CAPITAL AND SIMILAR ADJUSTMENTS IN CONTRIBUTION AGREEMENT], which are encumbered by a mortgage loan, and one or more of the Venture Vehicles has incurred certain mezzanine loans.

  • TSG will also support transactional access to SPIRIT for all remote devices that are both currently supported for ACTION and were planned to be supported for the HDS application, on behalf of Customer and the Existing Hotels.

  • Liability arises under the public-function test if “the private individual exercises powers which are traditionally exclusively reserved to the state.” Carl, supra, 763 F.3d at 595.The Sixth Circuit interprets this test “narrowly,” such that “[o]nly functions like holding elections, exercising eminent domain, and operating a company-owned town fall under this category of state action.” Chapman v.

  • As of the Effective Date, one or more Venture Vehicles is the fee simple owner of the Existing Hotels (which the Members agree has an aggregate fair market value, as of the Effective Date, of Nine Hundred Seven Million Nine Hundred Seventy Seven Thousand Seven Hundred Fifty One Dollars and Fifty Eight Cents ($907,977,751.58)), which are encumbered by a mortgage loan, and one or more of the Existing Venture Vehicles has incurred certain mezzanine loans.

  • Conversion of records from any CRS other than ACTION and HDS for the Existing Hotels will be billed as a New or Additional Service, as defined in ARTICLE 3.2.

Related to Existing Hotels

  • Hotels means the hotel properties described in Exhibit A hereto, as it may be amended from time to time by mutual agreement of Lessee and Operator to add hotel properties or to delete hotel properties as a result of termination of this Agreement with respect to one or more hotel properties pursuant to the termination provisions set forth in this Agreement. “Hotel” shall mean any hotel set forth on Exhibit A as it may be amended from time to time.

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Existing Project is a Project that has achieved Commercial Operation on or prior to the Execution Date.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Marriott means Marriott International, Inc.

  • Shopping Center means the Shopping Center identified on the initial page hereof.

  • Existing uses means those uses actually attained in a water body on or after November 28, 1975, whether or not they are included in the water quality standards.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Existing Franchise Agreement means that certain franchise license agreement between the Seller and the Franchisor, granting to Seller a franchise to operate the Hotel under the Brand.

  • Existing Building means a building that (a) was in existence and completely constructed on the date that the Applicant first submitted its Application, or (b) in respect of which the IESO has, in its sole and absolute discretion, issued a written confirmation that the building will be deemed an Existing Building for the purposes of the definition of Rooftop Facility.

  • Playground means any park or recreational area designed in part to be used by children that has play or sports equipment installed or that has been designated or landscaped for play or sports activities, or any similar facility located on public or private school grounds or on [City or County] grounds.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Campground means that term as defined in section 12501 of the public health code, Act No. 368 of the Public Acts of 1978, being section 333.12501 of the Michigan Compiled Laws, except that campground does not include land or sites operated by this state or the federal government, and does not include a membership campground.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Golf Course means the 18 hole golf course constructed on the Pearl Valley Estate;

  • Shopping Centre means a grouping of commercial retail outlets which have been designed, developed and managed as a unit by a single owner or group of owners or tenants located on the same lot or lots with a frontage not less than 45 metres and having common on-site parking;

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Limited common areas and facilities means those common areas and facilities

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Existing Facilities means all existing buildings and other facilities, the sites for the buildings or facilities, and furnishings or equipment for the buildings or facilities located on real property acquired by the building authority under the terms of this act.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.

  • Amenities “Amenities” are those areas specifically set forth in the Rules and Regulations for the Community.

  • Residential property means improved property that:-