Subject Hotel definition

Subject Hotel shall have the meaning set forth in Section 2.03(b)(i).
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Examples of Subject Hotel in a sentence

  • Determinations of the performance of the Subject Hotel shall be in accordance with the audited annual financial statements delivered by Lessee’s accountant pursuant to Section 15.03 hereof.

  • The failure of the Hotel to perform in accordance with such Annual Operating Budget shall not constitute a default by Manager of this Agreement, however, the Lessee has a right to terminate this Agreement with respect to a Subject Hotel if such Subject Hotel fails to satisfy the Performance Test as set forth in Section 2.03(c) above.

  • If at the time of Manager’s exercise of a renewal period with respect to any Hotel, such hotel is a Subject Hotel within a Performance Cure Period, the exercise of such renewal period shall be conditional upon timely cure of the Performance Failure, and if such Performance Failure is not timely cured, then, notwithstanding the foregoing provisions, Lessee may elect to terminate this Agreement with respect to such Subject Hotel pursuant to the terms of this Section 2.3(b).

  • The failure of any of the Hotels to perform in accordance with such Annual Operating Budget shall not constitute a default by Manager of this Agreement, however, the Lessee has a right to terminate this Agreement with respect to a Subject Hotel if such Subject Hotel fails to satisfy the Performance Test as set forth in Section 2.03(c) above.

  • Determinations of the performance of the Subject Hotel shall be in accordance with the audited annual financial statements delivered by Lessee’s accountant pursuant to Section 15.3 hereof.

  • The failure of any of the Hotels to perform in accordance with such Annual Operating Budget shall not constitute a default by Manager of this Agreement, however, the Lessee has a right to terminate this Agreement with respect to a Subject Hotel if such Subject Hotel fails to satisfy the Performance Test as set forth in Section 2.3(c) above.

  • The parties agree that by way of the Seller or its Affiliates entering into the MEB Subject Hotel Management Agreement and the Cooperation and Pipeline Hotel Agreement, the Seller has fulfilled its obligations to provide the Purchaser or the relevant member of the Target Group, as the case may be, with the rights and benefits of the MEB Franchise Agreements and the MEB Management Contracts covered thereunder.

  • Other than the Company Owned Real Property and the Company Leased Real Property, the MEB Assets constitute all the assets and rights used by the Seller and its Subsidiaries in the operation of the MEB Business (except as it relates to the TAHM Entities, the Excluded Assets, the TAHM Subject Hotel Agreements, the Retained Co-development Brand Hotel Contracts or the Managed Subject Hotel Agreements).

  • Notwithstanding anything herein to the contrary, following delivery of a JQH Acceptance Notice, JQH may assign the right to purchase or lease such Newco Subject Hotel to the JQH Trust.

  • If a JQH Acceptance Notice is delivered to Newco with respect to a Third-Party Lease, then JQH or the JQH Trust and the Person holding title to (or the leasehold interest in) such Newco Subject Hotel shall enter into a lease or sublease, as applicable, of such Newco Subject Hotel on the same terms as contained in the JQH ROFR Notice with respect to such Third-Party Lease, and any subsequent Sale of such Newco Subject Hotel remains subject to this Agreement.

Related to Subject Hotel

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

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Subject Assets is defined in Section 2.2(c).

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.