Franchise Offer Clause Samples

Franchise Offer. (a) BHR and its subsidiaries may offer from time to time to HHC, or an Affiliate (as defined in the Spin-Off Agreement) thereof, the opportunity to enter into a standard franchise agreement in effect at such time (a "Standard Franchise Agreement") for a Hotel (a "Franchise Offer"). BHR must make any such Franchise Offer to HHC pursuant to a written notice from BHR to the Vice President of Franchise Development at HHC for the particular Holiday Hospitality Hotel Brand desired by BHR (a "Franchise Offer Notice"). If HHC desires to accept such Franchise Offer (which acceptance shall not be unreasonably withheld), HHC must so notify BHR in writing (a "Franchise 4 Acceptance Notice") within 30 days of its receipt of the notice from BHR. If HHC delivers a Franchise Acceptance Notice within that 30-day period, BHR and HHC will cause the Hotel to become subject to a Standard Franchise Agreement on market terms. As used in this Section 1.1, "Hotel" means a lodging facility providing a degree of sophistication and amenities and facilities which is of a type and standard generally consistent with hotels operated as Holiday Hospitality Hotel Brand hotels. As used in this Agreement, "Holiday Hospitality Hotel Brands" means Holiday Inn, Holiday Inn Select, Holiday Inn Express, Crowne Plaza, Inter-Continental, and any other hotel brand owned or controlled by HHC or any of its Affiliates (the "HC Entities").