Pre-Opening Period definition
Examples of Pre-Opening Period in a sentence
The following is a timeline of the milestones of the Pre-Opening Period.
During the Pre-Opening Period and throughout the Operating Term, Owner shall provide the General Manager and, upon Owner’s approval, expatriate personnel of the Hotel as designated by Hyatt with fully furnished accommodations with the necessary related facilities, furnished in accordance with the standards and specifications of Hyatt, or housing subsidies.
Various factors outside of the control of Hyatt (including a delay in the Opening Date) may require that Owner provide such additional funds as Hyatt reasonably, and in good faith, deems necessary to meet the Hotel’s working capital needs during the Pre-Opening Period.
Tenant may at any time during the Pre-Opening Period or the Lease Term encumber the leasehold estate by mortgage or deed or trust.
Manager shall not be required nor authorized to advance funds on behalf of Owner during the Pre-Opening Period except as set forth in the Pre-Opening Plan.