Qualified Hotel Operator definition

Qualified Hotel Operator means any reputable Person domiciled in the United States of America which has the greater of the financial strength, qualifications and creditworthiness of [FCH/SH Leasing] [FCH/SH Leasing II]or in Beneficiary's sole determination, a minimum net worth of $30,000,000.00 and liquid assets of not less than $3,000,000.00, all as of a date which is 30 days prior to the date of the transfer. Additionally, neither the proposed purchaser nor any principal of the proposed purchaser, whether on the date for the closing of the transfer of title to the Mortgaged Property or at any time prior thereto, may be (i) in default on any indebtedness or loan from Beneficiary or any affiliate of Beneficiary, (ii) involved as a debtor in any bankruptcy, reorganization or insolvency proceeding, (iii) the subject of any criminal charges or proceedings, or (iv) an entity or individual who is or has been involved in litigation which is in good faith deemed significant by Beneficiary.
Sample 1
Qualified Hotel Operator is defined in Section 204(a).
Sample 1
Qualified Hotel Operator is defined in Section 204(b). “Records” is defined in Section 403.2.
Sample 1

Examples of Qualified Hotel Operator in a sentence

  • Should the original Qualified Hotel Operator, or its successor, cease to manage the Hotel for any reason, a replacement Qualified Hotel Operator shall be secured within ninety (90) days after the occurrence of such an event, so that throughout the term, the Hotel will at all times be managed by a Qualified Hotel Operator.

  • Registering your assets in joint names can expose them to creditor and matrimonial claims being made against the joint owners and can trigger capital gains tax if not properly done.

  • The parties acknowledge that the Licensor may be the same entity as the Qualified Hotel Operator and the License Agreement and Hotel Operating Agreement may be a single document or given a different title(s); however titled the agreement(s) between Owner and Licensor and/or Qualified Operator shall be controlled by the provisions of this Section 204.

  • The City shall approve, conditionally approve or reject, acting in its reasonable discretion, the identity of the Qualified Hotel Operator and the form of the Hotel Operating Agreement within thirty (30) days after submittal of a completed package with respect to each.

  • Unless City’s prior written consent is obtained, which consent shall not be unreasonably withheld, Owner shall not permit the Transfer of more than forty-nine percent (49%) of the ownership and/or control in the aggregate, taking all transfers into account on a cumulative basis, of any successor Qualified Hotel Operator.

  • Unless City’s prior written consent is obtained, which consent shall not be unreasonably withheld, Developer shall not permit the Transfer of more than forty-nine percent (49%) of the ownership and/or control in the aggregate, taking all transfers into account on a cumulative basis, of said original Qualified Hotel Operator or any permitted Transferee during the period it is supervising operation of the Hotel, excluding Transfers consisting of Publicly Traded Stock Transfers.

  • Unless City’s prior written consent is obtained, which consent shall not be unreasonably withheld, Owner shall not permit the Transfer of more than forty-nine percent (49%) of the ownership and/or control in the aggregate, taking all transfers into account on a cumulative basis, of said original Qualified Hotel Operator or any permitted Transferee during the period it is supervising operation of the Hotel, excluding Transfers consisting of Publicly Traded Stock Transfers.

  • Notwithstanding anything to the contrary above, Owner may cease serving as the operator of the Hotel or terminate its employment of a particular Qualified Hotel Operator for the Hotel without being required to secure City’s consent to said termination, but Owner shall thereafter be obligated to replace said Qualified Hotel Operator as provided above.

  • Said Qualified Hotel Operator shall operate and manage the Hotel pursuant to the Hotel Operating Agreement and in strict compliance with all of the requirements hereof and thereof.

  • The Qualified Hotel Operator shall operate and manage the Hotel pursuant to the Hotel Operating Agreement and in strict compliance with all of the requirements hereof and thereof.


More Definitions of Qualified Hotel Operator

Qualified Hotel Operator means any reputable Person domiciled in the United States of America which has the greater of the financial strength, qualifications and creditworthiness of DJONT Operations or in Beneficiary's sole determination, a minimum net worth of $30,000,000.00 and liquid assets of not less than $3,000,000.00, all as of a date which is 30 days prior to the date of the transfer. Additionally, neither the proposed purchaser nor any principal of the proposed purchaser, whether on
Sample 1
Qualified Hotel Operator means, as of a given date, a Person that is acceptable to Landlord (acting reasonably), that is creditworthy and which has the demonstrated resources, capabilities and experience, immediately prior to such given date of not less than five (5) years, with managing and operating hotels located in the Greater NYC Area which are substantially similar to the Hotel and which are, as of the Effective Date, substantially similar in quality and reputation those Persons doing business as Crown Plaza Hotels & Resorts, Courtyard Marriott and Hilton Garden Inn Hotels (as the quality and reputation of such Persons existed on the Effective Date).
Sample 1

Related to Qualified Hotel Operator

  • Deep poverty pocket means a population census tract having a

  • Hotel Property means a Property on which there is located an operating hotel.

  • Property Management Fee means the fee payable to the Manager for its day-to-day management of the Property pursuant to the Management Agreement.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Qualified project means the construction or expansion of any capital project of the Borrower or any of its Restricted Subsidiaries, the aggregate actual or budgeted capital cost of which (in each case, including capital costs expended by the Borrower or any such Restricted Subsidiaries prior to the construction or expansion of such project) exceeds $50,000,000.

  • Long-term acute care facility (LTAC) means a facility or Hospital that provides care to people with complex medical needs requiring long-term Hospital stay in an acute or critical setting.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • Qualified building means a building built at least 30 years before the date of application, located within a designated downtown or, village center, or neighborhood development area, which, upon completion of the project supported by the tax credit, will be an income-producing building not used solely as a single-family residence. Churches and other buildings owned by religious organization may be qualified buildings, but in no event shall tax credits be used for religious worship.

  • Non-Operator means a party other than the operator;

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Qualified buildings means construction of new structures,

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

  • Qualified facility means a permanent facility within this state equipped for the production of motion pictures, television shows, or digital media production that meets all of the following requirements:

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • NCZ Examined Project means any Generator or UDR project that is not exempt pursuant to 23.4.5.7.8 and either (i) is in a Class Year on the date the Commission accepts the first ICAP Demand Curve to apply to a Mitigated Capacity Zone or (ii) meets the criteria specified in 23.4.5.7.3(II). An NCZ Examined Project may be at any phase of development or in operation or an Installed Capacity Supplier.For purposes of Section 23.4.5 of this Attachment H, “Net CONE” shall mean the localized levelized embedded costs of a peaking unit in a Mitigated Capacity Zone, net of the likely projected annual Energy and Ancillary Services revenues of such unit, as determined in connection with establishing the Demand Curve for a Mitigated Capacity Zone pursuant to Section 5.14.1.2 of the Services Tariff, or as escalated as specified in Section 23.4.5.7 of Attachment H.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Non-Participating Home Infusion Therapy Provider means a Home Infusion Therapy Provider who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Generator Operator means the Person that Operates the Generating Facility and performs the functions of supplying electric energy and interconnected operations services within the meaning of the NERC Reliability Standards.

  • Timber owner means any person having all or any part of the legal interest in timber. Where such timber is subject to a contract of sale, "timber owner" shall mean the contract purchaser.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Healthcare Facility means that portion of the Project operated on the Land as a Nursing Home, Intermediate Care Facility, Board and Care Home, Assisted Living Facility and/or any other healthcare facility authorized to receive insured mortgage financing pursuant to Section 232 of the National Housing Act, as amended, including any commercial space included in the facility.

  • Master Developer means a developer cooperating with a

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • tour operator means, with the exception of an air carrier, an organiser within the meaning of Article 2, point 2, of Council Directive 90/314/EEC of 13 June 1990 on package travel, package holidays and package tours (2);