Examples of Monthly Royalty in a sentence
Any percentage fee discounts (including fee ramps) are excluded from the calculation of Hotel’s Average Monthly Royalty Fees.
For the avoidance of doubt, any System Hotel that has not been in operation for at least 12 full calendar months immediately preceding the month of termination is not included in determining the System’s Average Monthly Royalty Fees.
Any percentage fee discounts (including fee ramps) are excluded from the calculation of System’s Average Monthly Royalty Fees.
The Hotel’s Average Monthly Royalty Fees (i) multiplied by sixty (60) if termination occurs after the second anniversary of the Opening Date but before the final sixty (60) calendar months of the Term, or (ii) multiplied by the number of months remaining in the Term if there are fewer than sixty (60) months remaining in the Term on the date of termination.You acknowledge and agree that this Termination Fee is an agreed fee and does not represent a penalty or liquidated damages.
If termination occurs after the Opening Date but before the second anniversary of the Opening Date, you will pay us Liquidated Damages in an amount equal to [SELECT FOR CI, DT, ES, H2, HAM, HFS, HGI, HWS, WAC] the greater of: (a) the Hotel’s Average Monthly Royalty Fees multiplied by sixty (60); or (b) the System’s Average Monthly Royalty Fees multiplied by sixty (60).
If termination occurs after you begin the Hotel Work but before the Opening Date, unless your failure to complete the Hotel Work was the result of Force Majeure you will pay us Liquidated Damages in an amount equal to [SELECT FOR CI, DT, ES, H2, HAM, HFS, HGI, HWS, WAC] the System’s Average Monthly Royalty Fees multiplied by sixty (60).
The term “System’s Average Monthly Royalty Fees” means the average Monthly Royalty Fees per Guest Room owed to us by all System Hotels in operation in the United States over the 12 full calendar month period immediately preceding the month of termination, multiplied by the number of approved Guest Rooms at the Hotel.
Other than the Monthly Royalty Fee and liquidated damages, all fees are subject to change.
Other than the Monthly Royalty Fee and liquidated damages, all fees are subject to change.NOTES1.
Other than the Monthly Royalty Fee, Liquidated Damages and Termination Fees, all fees are subject to change.