Hotel Operating Agreement definition

Hotel Operating Agreement means the Agreement, if any, between a future third party Hotel Operator and the Owner governing the operation of the Hotel.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Hotel Operating Agreement means an agreement between Lessee and Hotel Operator for the operation and management of the Hotel.

Hotel Operating Agreement consists of the following:

Examples of Hotel Operating Agreement in a sentence

• Written evidence of consent to the Third Amendment by Hilton Management, LLC (the Hotel Manager) as required by Section 12.33 of the Amended and Restated Hotel Operating Agreement between the Borrower and the Hotel Manager, dated as of October 1, 2020, as amended (the Management Agreement).

• The Residential Units shall have a la carte access to the Hotel amenities on a pay-by-use basis, as provided in the Hotel Operating Agreement.

• This transaction shall close at the Title Company’s offices or other location acceptable to the Parties on or before the date which is the earlier to occur of (a) Closing Deadline, or (b) ten (10) business days after the later to occur of the date of the Loan Assumption Approval (defined below), the Hotel Operating Agreement Assumption Approval (defined below), and the HSR Approval (defined below).

• The list of keyholders is to be immediately updated by Connexions as circumstances require.

• Each of the Approved Property Management Agreement and the Approved Hotel Operating Agreement is in full force and effect in all material respects, and, to Borrower's knowledge, there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder by any party thereto.

• Estoppel certificate executed by Starwood (defined below) under the Hotel Operating Agreement in the form of the estoppel certificate of Exhibit N attached hereto (the “Starwood Estoppel”).

• Except as otherwise expressly contemplated in this Agreement, Seller has, without notice to or consent or joinder of any other Person (other than as contemplated with the Loan Assumption and the Hotel Operating Agreement Assumption) the full right, power and authority to enter into and perform this Agreement, including full right, power and authority to sell the Membership Interest to Purchaser.

• With respect to the Hotel Property, Lender may terminate or require Borrower to terminate the Approved Hotel Operating Agreement as permitted and in the manner set forth in the Approved Hotel SNDA.

• All Capital Expenditures contemplated by an Approved Capital Improvement shall be in conformance with all applicable Legal Requirements, of a quality no less than industry standard for similarly situated properties in the proximity to the Property and otherwise undertaken in accordance with the requirements of the Approved Hotel Operating Agreement, the Approved Property Management Agreement, the Approved Music Venue Lease, as applicable, and this Agreement.

• Any notification with respect to any default by Borrower or the Approved Hotel Operator under the Approved Hotel Operating Agreement shall be governed by the Approved Hotel SNDA.

More Definitions of Hotel Operating Agreement

Hotel Operating Agreement means any brand, trademark, tradename, license, franchise, reservation system, logotype, mark, listing system, hotel operating system (including, without limitation, any of the foregoing owned or otherwise controlled by Borrower, Sponsor or Guarantor or any of their respective Affiliates) and any agreements and/or rights to use the foregoing (by law, contract or otherwise), in each case, as would be commonly subsumed into a hotel franchise agreement.

Hotel Operating Agreement means (i) that certain Lodging Management Agreement, by and between the Company and Hotel Operator, dated as of August 14, 2009, as extended, amended, restated, supplemented, superseded or otherwise modified from time to time in accordance with the terms thereof, or (ii) any replacement or successor hotel operating agreement or lodging management agreement between the Company and a successor Hotel Operator, as the same shall be extended, amended, restated, supplemented, superseded or otherwise modified from time to time in accordance with the terms thereof.

Hotel Operating Agreement means that certain Hotel Operating Agreement dated March 8, 2005 executed by and between Borrower and Hotel Operator for management and operation of the Hotel.

Hotel Operating Agreement. That certain W Austin Hotel Operating Agreement by and between Stratus Block 21 Investments, L.P., and Starwood Hotel & Resorts Worldwide, Inc., dated as of October 26, 2006, as amended by First Amendment to Operating Agreement dated January 30, 2008, and Second Amendment to W Austin Hotel Operating Agreement, dated May 6, 2008, as such agreement was assigned by ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇.▇. to Borrower by virtue of that certain Assignment and Assumption Agreement dated as of July 30, 2007; and as such agreement was assigned by Starwood Hotel & Resorts Worldwide, Inc. to Hotel Operator by virtue of that certain Assignment and Assumption Agreement dated as of July 30, 2007.

Hotel Operating Agreement means the operating agreement or operating agreements between the Developer and the Hotel Operator for the operation of each of the hotels included in the Scope of Development.

Hotel Operating Agreement means that certain Hotel Operating Agreement dated as of December 1, 2006, executed by Hotel Lessee and Hotel Manager.