Hotel Assets definition

Hotel Assets. All Purchased Assets that are directly or indirectly secured by hotels.

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Hotel Assets means, collectively, the following Project Components: (i) the CityCenter Resort and Casino; (ii) the Mandarin Oriental Hotel/Residences; (iii) the Vdara Condo/Hotel Tower; and (iv) assets related to (i), (ii) and (iii).

Hotel Assets mean, collectively, the Selling Subsidiaries’ right, title and interest in, to and under (a) the Real Property, (b) the Furnishings, Consumables, Supplies, Retail Inventories and Miscellaneous Hotel Assets, (c) the assignable Permits primarily related to the ownership or operation of the Hotels, (d) the Assigned Contracts and (e) any assignable Intellectual Property, but excluding, in each case, the Excluded Property

Examples of Hotel Assets in a sentence

• Make, or permit any of its Subsidiaries to make, any material change in the nature of its business as carried at the Closing Date (after giving effect to the transactions contemplated by the Loan Documents); or engage in, or permit any of its Subsidiaries to engage in, any business other than ownership, development, licensing and management of Hotel Assets in the United States consistent with the requirements of the Loan Documents, and other business activities incidental thereto.

• The Deposit shall be allocated among each of the Hotel Assets in accordance with the relative Allocated Purchase Prices of such Hotel Assets (each, an “Allocated Deposit”).

• Sellers shall pay (a) one-half of Escrowee’s escrow fees, (b) any breakage or spread maintenance costs under any debt encumbering its Hotel Assets, (c) any liquidated damages, termination fees, liabilities or obligations under any of the Management Agreements or Franchise Agreements, including those arising from or related to the termination thereof, (d) property improvement plan costs which are the responsibility of Sellers pursuant to Section 4.7; and (e) all costs of Seller’s broker, if any.

• No further partnership, limited liability company, corporate or trust proceedings on the part of any Seller are necessary to authorize this Agreement or the Closing Documents, or to consummate the purchase and sale of the individual Hotel Asset(s) owned by such Seller in accordance with the terms hereof.

• Seller and Buyer each represents and warrants to the other that it has not engaged any broker, finder or other party in connection with the transaction contemplated by this Contract, except for Hotel Assets Group (the “Broker”), which Broker shall be entitled to a commission from Seller upon the sale of the Property under a separate agreement with Seller.

More Definitions of Hotel Assets

Hotel Assets has the meaning given to it in the Inland PSA.

Hotel Assets. Means collectively, all of the Assets of Hotel including, without limitation, (i) the capital stock of the Hotel Subsidiaries, (ii) the Assets relating to the Hotel Business, whether now owned by the Company or any of its subsidiaries or owned by Hotel or any of its Affiliates, (iii) the Hotel Books and Records, (iv) all of the Assets expressly to be retained by, or assigned or allocated to, Hotel or any of the Hotel Subsidiaries under this Agreement or the other Transaction Agreements and (v) any other Assets, absolute or contingent, of Hotel and the Hotel Subsidiaries not comprising Company Assets.

Hotel Assets means the Property, the Hotel FF&E, the Hotel Contracts, the Hotel Intangibles and the Hotel Inventory.

Hotel Assets means, with respect to (and without duplication):

Hotel Assets means the ▇▇▇▇▇▇ Component together with the Mandarin Component.

Hotel Assets will have the meaning set forth in Section 1.14.

Hotel Assets means the owned hotels and leased hotels of the Company, its Subsidiaries, and Duet Entities as applicable, as set out in Annexure C.