Hotel Franchise Agreement definition

Hotel Franchise Agreement means that certain License Agreement dated August 15, 2018 by and between Holiday Hospitality Franchising, LLC and PHR TCI OPCO SUB, LLC. Hotel Franchisor shall mean Holiday Hospitality Franchising, LLC. Hotel Manager as defined in Section 1.2 Hotel Management Agreement as defined in Section 1.2. Initial Maturity Date as defined in Section 2.2. Improvements as defined in Section 1.2. Investment shall mean the acquisition of any real or tangible personal property or of any stock or other security, any loan, advance, bank deposit, money market fund, contribution to capital, extension of credit (except for accounts receivable arising in the ordinary course of business and payable in accordance with customary terms), or purchase or commitment or option to purchase or otherwise acquire real estate or tangible personal property or stock or other securities of any party or any part of the business or assets comprising such business, or any part thereof (excluding purchase of personal property in the ordinary course of the Borrower’s business. Legal Requirements shall mean all applicable federal, state, county and local laws, by-laws, rules, regulations, codes and ordinances, and the requirements of any governmental agency or authority having or claiming jurisdiction with respect thereto, including, but not limited to, those applicable to zoning, subdivision, building, health, fire, safety, sanitation, the protection of the handicapped, and environmental matters and shall also include all orders and directives of any court, governmental agency or authority having or claiming jurisdiction with respect thereto. Lender as defined in the Preamble. Lxxxxx's Consultant as defined in Section 5.1.1.
Sample 1
Hotel Franchise Agreement means that certain Staybridge Suites Hotel License Agreement dated June 29, 2017 by an between Holiday Hospitality Franchising, LLC and the Borrower and amended to replace Borrower with the Operating Company by Addendum to License Agreement dated March 29, 2018 and all ancillary documents and agreements related thereto, any license or other franchise agreement or license with a hotel franchisor and/or hotel system provider.
Sample 1
Hotel Franchise Agreement means that certain Amended and Restated Franchise License Agreement, dated as of October 1, 2011, between Hotel Franchisor and Operating Lessee, with such modifications, together with any replacement Hotel Franchise Agreement entered into with another Hotel Franchisor, as shall be entered into in accordance with the terms of this Loan Agreement.
Sample 1

Examples of Hotel Franchise Agreement in a sentence

  • In connection with any such termination, Patriot and its Affiliates shall fully and timely "de-identify" each of the relevant Exhibit A Hotels as Marriott hotels, and all amounts payable by Interstate, Patriot, Wyndham or any Affiliate thereof under any existing Exhibit A Hotel Franchise Agreement (subject to Section 3.1.3) shall be paid to Marriott on or prior to the termination date of the relevant Exhibit A Hotel Franchise Agreement or within fifteen (15) days after the date of any subsequent invoice.

  • The parties agree that any default thereunder declared or occurring subsequent to the date hereof shall be addressed pursuant to the terms of such Franchise Agreements; provided, however, that notwithstanding anything in this Agreement or the relevant Exhibit D Hotel Franchise Agreement to the contrary, Patriot shall not be obligated to Marriott for liquidated damages relating to any current or past defaults by the franchisee on the Exhibit D Hotels in Cincinnati, Ohio or Orlando I Drive, Florida.

  • Until any such Exhibit A Hotel Franchise Agreement is terminated or expires, such agreement shall be subject to Section 12 hereof.

  • Each Exhibit D Hotel Franchise Agreement shall continue in full force and effect pursuant to the provisions thereof.

  • Effective upon the consummation of Divestiture, IHC II, LLC shall assume each Exhibit B Hotel Franchise Agreement and Interstate Hotels, LLC shall, as successor by merger to Interstate Hotels Corporation, continue to be obligated under each Exhibit C Hotel Franchise Agreement and Exhibit D Hotel Franchise Agreement, to the extent in each case that Interstate is currently the franchisee thereunder.

  • If upon such termination, neither Newco nor any of its Affiliates is then an Approved Operator under Marriott's continuing system standards, then Patriot shall secure such an Approved Operator, and such Approved Operator shall assume the relevant Exhibit B Hotel Franchise Agreement as set forth immediately above.

  • If Patriot ultimately obtains such missing consent within one (1) year after the scheduled termination of the relevant Exhibit A Hotel Franchise Agreement, then such Franchise Agreement (and the related owner's agreement) shall be terminated as of the date of such consent and the management fees under the related Submanagement Agreements shall be re-adjusted upward (pro-rata, with respect to all Submanagement Agreements) to reflect such termination as of such date.

  • Until such termination, each such Exhibit A Hotel Franchise Agreement (and the existing related owner's agreement) shall continue in full force and effect, and the franchisee thereunder shall be obligated to continue to make all payments to Marriott or its Affiliates and otherwise to continue to perform all of its obligations under such Franchise Agreement, and the franchisor thereunder shall continue to perform all of its obligations under such Franchise Agreement.

  • The parties agree that effective upon the Merger, each Exhibit A Hotel Franchise Agreement for which the relevant consents referred to on Schedule 6.2.6 have been obtained is hereby amended so that there are no restrictions on Patriot or the Primary Manager from developing, owning, franchising or operating other hotels within a designated area around the relevant Exhibit A Hotel.

  • Each Loan Party has delivered to Agent true, correct and complete copies of any unrecorded Permitted Encumbrances, the Management Agreement, the Hotel Franchise Agreement, and the Premises Documents.


More Definitions of Hotel Franchise Agreement

Hotel Franchise Agreement. The Property shall be franchised by a nationally recognized hotel franchisor such as Marriott — Courtyard, Sheraton — Four Points, Hyatt — Hyatt Place, or Hilton — Doubletree. Final identification of the designated franchisor shall be made during the Borrower’s due diligence period under the Purchase Agreement with final Senior Lender approved franchise agreement executed concurrently with closing. Any future change of the hotel brand, including the entering into of any franchise agreement, shall be subject to Senior Lender’s prior written approval. Borrower shall assign any and all of its rights under the franchise agreement to Senior Lender pursuant to an assignment and subordination of franchise agreement and consent of franchisor acceptable to Senior Lender.
Sample 1
Hotel Franchise Agreement means that certain SpringHill Suites by Marriott Relicensing Franchise Agreement dated May 24, 2017 by an between Marriott International, Inc. and the Borrower and all ancillary documents and agreements related thereto, which Agreement was assigned to the Operating Company pursuant to that certain Assignment and Assumption of Franchise Documents dated March 29, 2018 Franchise Agreement dated any license or other franchise agreement or license with a hotel franchisor and/or hotel system provider.
Sample 1

Related to Hotel Franchise Agreement

  • Franchise Agreement or “Agreement” shall mean this Agreement and any amendments or modifications hereto.

  • Franchise Area means the area within the jurisdictional boundaries of the City, including any areas annexed by the City during the term of this Franchise.

  • Management Agreement means the agreement to be entered into between the Borrower and the Manager providing for the ship management and crewing services of the Vessel, such agreement to be in the form and on the terms and conditions required by the Agent;

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

  • Franchisor means Hilton Hotels Corp. or its affiliate.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Franchise Fee means a direct or indirect payment to purchase or operate a franchise. Franchise fee does not include any of the following:

  • Use Agreement means the use agreement by and between HDFC and HUD which commences on or before the Effective Date, runs with the land, binds all subsequent owners and creditors of the Exemption Area, and requires that the housing project on the Exemption Area continue to operate on terms at least as advantageous to existing and future tenants as the terms required by the original Section 202 loan agreement or any Section 8 rental assistance payments contract or any other rental housing assistance contract and all applicable federal regulations.

  • Franchisee means a person to whom a franchise is granted.

  • leasing agreement means an agreement by which one person (the lessor) grants a right to possession or control of an object (with or without an option to purchase) to another person (the lessee) in return for a rental or other payment;