Formal Re Clause Samples

Formal Re opening of the Hotel under the ▇▇▇▇▇▇▇ Brand ------------------------------------------------------ The formal re-opening of the Hotel shall occur on a date to be specified by Operator upon notice reasonably in advance to Owner, but in any event only after - (1) Operator deems - (i) the Hotel to be substantially renovated and completed and (ii) the Furnishings and Equipment, Ancillary Hotel Equipment and Operating Equipment to have been substantially installed therein, all in accordance with the provisions of Section 1.2 of this Article,; (2) the architect has issued his certificate of completion; (3) all licenses and permits required for the operation of the Hotel (including liquor and restaurant licenses and police, fire and health department permits) have been obtained; (4) adequate working capital has been furnished by Owner in accordance with Section 7.1 of Article VII, and (5) the Hotel has been accepted by Operator and is ready to render first-class service to guests on a fully operational basis. Notwithstanding the formal re-opening of the Hotel, Owner shall proceed diligently thereafter to fulfill all of its obligations hereunder regarding the construction, furnishing, equipping and decorating of the Hotel to cure all defects or deficiencies as to which notice shall be given by Operator to Owner as soon as practicable after said formal re-opening.