Examples of Hotel Asset in a sentence
Nothing herein shall obligate any Seller to cause any Hotel Asset to be Restored.
At all times cause each Hotel Asset to be subject to a franchise agreement or similar arrangement with an Approved Franchisor.
When used in this Agreement, the term “to Sellers’ Knowledge” or similar words shall mean the actual (and not imputed, implied or constructive) knowledge of the individuals set forth on Section 9.2 of the Disclosure Letter for the applicable Seller(s), in each case after reasonable inquiry (including reasonable inquiry of the applicable property manager for each Hotel Asset with respect to the representations or warranties relating to such Hotel Asset).
At Purchaser’s request, Sellers shall cooperate with Purchaser to enter into new property management contracts with the property managers for each Hotel Asset, including after Sellers send a termination notice with respect to such Management Agreement pursuant to the previous sentence.
Notwithstanding anything to the contrary contained herein, if any Seller willfully breaches this Agreement and sells its applicable Hotel Asset to someone other than Purchaser while this Agreement is in effect, then Purchaser shall be entitled to bring an action against Sellers to recover all of its damages and costs relating to such breach, including, but not limited to, actual, compensatory, consequential, special and punitive damages.