Sale of a Hotel definition

Sale of a Hotel means any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of Tenant’s leasehold title to a Hotel and related property. For purposes of this Agreement, a Sale of a Hotel shall also include a lease (or sublease) of all or substantially all of Tenant’s leasehold interest in a Hotel and any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, in a single transaction or a series of transactions, of the Controlling Interest in Tenant, but shall not include any conveyance which results in SVC or an SVC Affiliate holding a Controlling Interest in such Tenant, Landlord or immediate parent of such Tenant.
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Sale of a Hotel shall have the meaning set forth in Article XVI.
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Sale of a Hotel means any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of the applicable Owner’s leasehold or subleasehold title to a Hotel or the applicable Landlord’s fee or leasehold title to a Hotel, as the case may be. For purposes of this Agreement, a Sale of a Hotel shall also include a lease (or sublease) of all or substantially all of the applicable Owner’s leasehold interest in such Hotel and any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, in a single transaction or a series of transactions, of the Controlling Interest in the applicable Owner or Landlord, but shall not include any conveyance which results in SVC continuing to hold a Controlling Interest in the transferee.
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Examples of Sale of a Hotel in a sentence

  • Tenant may enter into a Sale of a Hotel to any Person which (1) is an Affiliate of Tenant, and (2) who assumes Tenant’s obligations with respect to such Hotel under this Agreement, the Owner Agreement (to the extent applicable to the Hotel being sold) and, to the extent applicable with respect to the “deconsolidation” provisions thereof, the Pooling Agreement (or ratifies each of such obligations if such Sale of a Hotel is pursuant to a transfer of a Controlling Interest in Tenant).

  • In such event, Lessee may notify Operator in writing no less than sixty (60) days prior to any such Sale of a Hotel and this Agreement shall terminate with respect to such Hotel(s) upon the closing of the sale.

  • At any time during the Operating Term, Owner may sell or otherwise dispose of one or more Hotels or enter into a ground lease with respect to one or more of the Hotels (hereinafter collectively referred to as "Sale of a Hotel"), to any other person, partnership, firm or corporation (hereinafter referred to as the "Purchaser").

  • In such event, Lessee may notify Operator in writing no less than sixty (60) days prior to any such Sale of a Hotel and this Agreement shall terminate with respect to such Hotels upon the closing of the Sale of the Hotel, subject to the provisions of Section 2.01(b).

  • Upon any Sale of a Hotel, Landlord shall assign this Lease to the purchaser and, concurrently with the finalization thereof, the purchaser shall, by an appropriate written instrument, assume (subject to the provisions of Section 22.24) all of Landlord's obligations hereunder.

  • At any time during the Operating Term, Owner may sell or otherwise dispose of one or more Hotels or lease all or substantially all of the Hotels (hereinafter collectively referred to as "Sale of a Hotel"), to any other person, partnership, firm or corporation (hereinafter referred to as the "Purchaser").

  • In such event, Lessee may notify Operator in writing no less than thirty (30) days prior to any such Sale of a Hotel and this Agreement shall terminate with respect to such Hotels upon the closing of the Sale of the Hotel with no fee payable to Operator other than the Termination Fee, if applicable.

  • Except as provided in Section 2.6 (Sale of Designated, Non-Economic and Removed Hotels) or 24.16 (Adverse Canadian Event) or in connection with the foreclosure of an Authorized Mortgage or deed-in-lieu of such foreclosure, Landlord and its Affiliates and their successors and assigns shall not sell less than all the Pooled FF&E Hotels to any Person except to an Affiliate as provided in Section 4.4 (Sale of a Hotel to an Affiliate) or in Section 15.6 of the PR Lease.

  • In such event, Lessee may notify Operator in writing no less than thirty (30) days prior to any such Sale of a Hotel and this Agreement shall terminate with respect to such Hotels upon the closing of the Sale of the Hotel.

  • Following the first anniversary of the Commencement Date, Lessee may terminate this Agreement for convenience (except if due to a Sale of a Hotel, whereupon Section 2.03(a) shall govern) upon thirty (30) days written Notice to Manager.


More Definitions of Sale of a Hotel

Sale of a Hotel means any sale, assignment, transfer or other --------------- disposition, for value or otherwise, voluntary or involuntary, of Landlord's title to a Hotel, including, if applicable, the Land or Landlord's leasehold interest in the underlying ground lease for the Land or an assignment or sublease of Landlord's leasehold interest in the underlying lease of the Hotel but excluding any Mortgage on Landlord's interest in any Hotel and/or this Lease. For purposes of this Lease, a Sale of a Hotel shall also include a lease (subject to this Lease) of all or substantially all of any Hotel or the Land located at any such Hotel and any Change in Control of Landlord.
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Sale of a Hotel means any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of the Tenant’s leasehold title to a Hotel and related property. For purposes of this Agreement, a Sale of a Hotel shall also include a lease (or sublease) of all or substantially all of Tenant’s leasehold interest in a Hotel and any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, in a single transaction or a series of transactions, of the Controlling Interest in Tenant, but shall not include any conveyance which results in HPT or an HPT Affiliate holding a Controlling Interest in such Tenant, Landlord or immediate parent of such Tenant. 00
Sample 1
Sale of a Hotel means any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of the Tenant's leasehold title to a Hotel and related property. For purposes of this Agreement, a Sale of a Hotel shall also include a lease (or sublease) of all or substantially all of Tenant's leasehold interest in a Hotel and any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, in a single transaction or a series of transactions, of the Controlling Interest in Tenant, but shall not include any conveyance other than a conveyance of a Controlling Interest in Tenant, Landlord or the immediate Parent of Tenant.
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Sale of a Hotel or "Sale of the Hotels" shall mean any sale, --------------- ------------------ assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of the fee simple title (or leasehold interest, as the case may be) to one or more of the Hotels.
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Related to Sale of a Hotel

  • Sale of the Artwork means the transfer of title and ownership of the Artwork to an un-Affiliated third-party and receipt by the Company of value therefor as determined by the Board.

  • Sale of the Painting means the transfer of title and ownership of the Painting to an un-Affiliated third-party and receipt by the Company of value therefor as determined by the Board.

  • Sale of the Company means the sale of the Company to an Independent Third Party or affiliated group of Independent Third Parties pursuant to which such party or parties acquire (i) capital stock of the Company possessing the voting power to elect a majority of the Company's board of directors (whether by merger, consolidation or sale or transfer of the Company's capital stock) or (ii) all or substantially all of the Company's assets determined on a consolidated basis.

  • Initial Xxxx of Sale means the document, in the form of Attachment B hereto, executed by an authorized officer of SLM ECFC which shall (i) set forth the applicable Initial Loans offered by SLM ECFC and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, (ii) sell, assign and convey to the Interim Eligible Lender Trustee for the benefit of Funding and its assignees all rights, title and interest of SLM ECFC in the Initial Loans listed on that Xxxx of Sale and (iii) certify that the representations and warranties made by SLM ECFC as set forth in Sections 5 (A) and (B) of these Master Terms are true and correct.

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

  • Residential property means improved property that:-

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

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).

  • Restaurant means a business location:

  • Residential Lot means a lot, the use of which is limited by law, covenant,

  • COMMENCEMENT OF THE INITIAL PUBLIC OFFERING means the date that the Securities and Exchange Commission declares effective the registration statement filed under the Securities Act for the Initial Public Offering.

  • Real estate transaction or "transaction" means an actual or prospective transaction involving a purchase, sale, option, or exchange of any interest in real property or a business opportunity, or a lease or rental of real property. For purposes of this chapter, a prospective transaction does not exist until a written offer has been signed by at least one of the parties.

  • Retail sale or a "sale at retail" means a sale to any person for any purpose other than for resale in

  • Qualifying project means (i) any education facility, including, but not limited to a school building, any functionally related and subordinate facility and land of a school building (including any stadium or other facility primarily used for school events), and any depreciable property provided for use in a school facility that is operated as part of the public school system or as an institution of higher education; (ii) any building or facility that meets a public purpose and is developed or operated by or for any public entity; (iii) any improvements, together with equipment, necessary to enhance public safety and security of buildings to be principally used by a public entity; (iv) utility and telecommunications and other communications infrastructure; (v) a recreational facility; (vi) technology infrastructure and services, including, but not limited to, telecommunications, automated data processing, word processing and management information systems, and related information, equipment, goods and services; (vii) any technology, equipment, or infrastructure designed to deploy wireless broadband services to schools, businesses, or residential areas; or (viii) any improvements necessary or desirable to any unimproved locally- or state-owned real estate.

  • Hotels means the hotel properties described in Exhibit A hereto, as it may be amended from time to time by mutual agreement of Lessee and Operator to add hotel properties or to delete hotel properties as a result of termination of this Agreement with respect to one or more hotel properties pursuant to the termination provisions set forth in this Agreement. “Hotel” shall mean any hotel set forth on Exhibit A as it may be amended from time to time.

  • Residential Project means a redevelopment project that is

  • Qualifying Public Offering means a firm commitment underwritten public offering of Stock for cash where the shares of Stock registered under the Securities Act are listed on a national securities exchange.

  • Hotel Site means the real property on which the Hotel is located or to be located, as approved by us.