Marriott Properties definition
Examples of Marriott Properties in a sentence
Notwithstanding anything in the MVW License Agreement and Marriott Rewards Agreement to the contrary and subject to the terms and conditions set forth in this Article II, Marriott will be permitted to implement the Cross Redemption Policy; provided, however, that (a) Marriott Rewards points and Marriott Rewards Elite Status will be earned only at participating Marriott Properties and (b) SPG points and SPG Elite Status will be earned only at participating Starwood Properties.
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Marriott will place (a) a hyperlink to Xxxxxxxxxxxxxx.xxx on the Xxxxxxxx.xxx website and (b) a hyperlink to Xxxxxxxx.xxx on the Xxxxxxxxxxxxxx.xxx website; provided, for the avoidance of doubt, that customers will not be able to search for or reserve Starwood Properties on Xxxxxxxx.xxx or search for or reserve Marriott Properties on Xxxxxxxxxxxxxx.xxx.
A current survey and legal description for each of the Marriott Properties and Brookdale Properties, certified to Administrative Agent and the Title Company, by a surveyor on a certificate satisfactory to Administrative Agent, and evidence as to whether the respective Property is located in a Special Flood Hazard Area as defined by the United States Department of Housing and Urban Development.
A Phase I Environmental Report for each of the Marriott Properties and Brookdale Properties, prepared at the expense of Borrower, concerning the quality and condition of the respective Property conducted by a firm satisfactory to Administrative Agent, which shall be free of qualification and accompanied by a letter from such firm to Administrative Agent and Lenders to the effect that Administrative Agent and Lenders may rely on such report as though it were addressed to them.
Evidence that the insurance required by Sections 6.6 of this Agreement, and by the Marriott Leases and the Brookdale Master Lease, is in effect as therein required with respect to each of the Marriott Properties and Brookdale Properties, as applicable, with the Administrative Agent named as an additional insured or mortgagee and loss payee as appropriate.
From time to time during the term of this Agreement, Administrative Agent may, in its sole discretion, order an Appraisal of one or more of the Marriott Properties and Brookdale Properties.
Copies of the occupancy certificate and the certificate of need, if applicable, for each of the Marriott Properties and Brookdale Properties, issued by the appropriate Governmental Authorities, except for any such certificate which Borrower has advised Administrative Agent in writing prior to the Closing Date is unavailable.
An Appraisal for each of the Marriott Properties and Brookdale Properties, in an aggregate amount for all such Properties not less than $500,000,000.
Pro forma commitments for the Title Insurance Policies for each of the Marriott Properties and Brookdale Properties, issued by the title agent for the Title Company, together with evidence that the required reinsurance has been reserved.