Franchise Compliance. Seller has furnished to Buyer true and complete copies of the Existing Management Agreement and the Existing Franchise Agreement, which constitutes the entire agreement of the parties with respect to the subject matter thereof and which have not been amended or supplemented in any respect. There are no other management agreements, franchise agreements, license agreements or similar agreements for the operation or management of the Hotel or relating to the Brand, to which Seller is a party or which are binding upon the Property, except for the Existing Management Agreement and the Existing Franchise Agreement. The Existing Management Agreement and the Existing Franchise Agreement are in full force and effect, and shall remain in full force and effect until the termination of the Existing Management Agreement and the Existing Franchise Agreement at Closing, as provided in Section 14 hereof.
Franchise Compliance. Seller has furnished to Buyer true and complete copies of that certain management agreement between Seller and Dimension Development Company dated July 17, 2003 (the “Existing Management Agreement”) and the Existing Franchise Agreement, which constitutes the entire agreement of the parties with respect to the subject matter thereof and which have not been amended or supplemented in any respect. There are no other management agreements, franchise agreements, license agreements or similar agreements for the operation or management of the Hotel or relating to the Brand, to which Seller is a party or which are binding upon the Property, except for the Existing Management Agreement and the Existing Franchise Agreement. The Existing Management Agreement and the Existing Franchise Agreement are in full force and effect, and shall remain in full force and effect until the termination of the Existing Management Agreement and the Existing Franchise Agreement at Closing, as provided in Section 14 hereof.
Franchise Compliance. Manager understands that several of the Hotels are franchised by various national hotel franchise companies ("Franchisors"). Each of the Franchisors sets forth rules, standards and procedures that must be followed by the Hotels that are bound by the respective franchises. Management of any Hotels pursuant to any Marriott International franchises is subject to the additional provisions below:
Franchise Compliance. The Parties expressly acknowledge that the sale of a franchised business is subject to State and Federal laws which require, among other things, certain pre-sale disclosures. Company acknowledges and agrees that it bears sole responsibility for preparing and distributing the Franchise Disclosure Document (“FDD”) in compliance with applicable state and federal laws. Sales Consultant expressly agrees that it will comply with all state and federal laws during the franchise sales process.
Franchise Compliance
