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"identification-required", "type": "clause", "offset": [2532, 2555]}, {"key": "physical-changes", "type": "clause", "offset": [2596, 2612]}, {"key": "removal-of", "type": "definition", "offset": [2669, 2679]}, {"key": "structural-steel", "type": "clause", "offset": [2715, 2731]}, {"key": "compliance-with", "type": "clause", "offset": [2764, 2779]}, {"key": "requirements-of-the", "type": "clause", "offset": [2790, 2809]}, {"key": "sale-of-the-property", "type": "clause", "offset": [2869, 2889]}, {"key": "to-purchaser", "type": "clause", "offset": [2890, 2902]}, {"key": "in-the-event", "type": "clause", "offset": [2921, 2933]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [3114, 3132]}, {"key": "liabilities-and-expenses", "type": "clause", "offset": [3203, 3227]}, {"key": "including-without-limitation", "type": "clause", "offset": [3229, 3257]}, {"key": "the-termination", "type": "clause", "offset": [3287, 3302]}, {"key": "inability-to", "type": "clause", "offset": [3376, 3388]}, {"key": "failure-by", "type": "clause", "offset": [3492, 3502]}, {"key": "comply-with", "type": "definition", "offset": [3516, 3527]}, {"key": "all-obligations", "type": "clause", "offset": [3528, 3543]}, {"key": "in-connection-with", "type": "clause", "offset": [3552, 3570]}, {"key": "owner-of-the-property", "type": "definition", "offset": [3634, 3655]}], "samples": [{"hash": "az6jBinuyR1", "uri": "/contracts/az6jBinuyR1#franchise", "label": "Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)", "score": 28.0691299438, "published": true}, {"hash": "7q7yIzOEeAk", "uri": "/contracts/7q7yIzOEeAk#franchise", "label": "Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)", "score": 28.0691299438, "published": true}, {"hash": "5YLTap7PlDz", "uri": "/contracts/5YLTap7PlDz#franchise", "label": "Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)", "score": 28.0691299438, "published": true}], "snippet": "(a) Upon the Effective Date, Seller authorizes Purchaser to contact Hilton to seek assumption or re-issuance (as required by Hilton) of the applicable franchise license for the Hotel at Closing (the \u201cFranchise Approval\u201d). Immediately after the Effective Date, Purchaser shall reasonably promptly and diligently in good faith pursue obtaining, at Purchaser\u2019s sole cost and expense, the written consent of Hilton for the Franchise Approval and the corresponding franchise and related agreements pertaining to the operation of the Hotel as a Home2 Suites Hotel after the Closing (collectively, the \u201cNew Franchise Agreement\u201d) and providing for the release of Seller and any guarantors of Seller\u2019s future obligations to Hilton effective as of the Closing.\n(b) If Purchaser elects not to obtain the Franchise Approval (but instead elects another franchisor or brand or elects not to have any franchise or brand) or Purchaser does not obtain the Franchise Approval and does not terminate this Agreement in accordance with Section 5.3 and proceeds to Closing, Purchaser shall (i) pay all cancellation fees, termination fees, removal fees or other amounts owed to Hilton as a result of cancellation and termination of the Existing Franchise Agreement, (ii) immediately upon Closing, cease operating the Property as a \u201cSystem Hotel\u201d within Hilton\u2019s system, including, without limitation, not directly or indirectly representing or giving the impression that it is a present or former franchisee or licensee of Hilton or that the Property was previously a \u201cSystem Hotel,\u201d and (iii) immediately upon Closing, at its sole cost and expense, immediately and permanently remove or cause to be removed from the Property all identifying characteristics, marks and intellectual property of Hilton and its \u201cSystem Hotels,\u201d including, without limitation, all electronic systems, signs, fixtures, furniture, furnishings, equipment, advertising materials, stationery, supplies, forms and other items containing the words, trademark, service marks or insignia for a \u201cSystem Hotel,\u201d return to Hilton its intellectual property and other materials proprietary to Hilton, make such alterations as may be necessary and required by Hilton to distinguish the Property from its former appearance and other \u201cSystem Hotels\u201d and allow Hilton to enter upon the Property to complete any of the foregoing not completed by Purchaser within thirty (30) days after Closing (collectively, \u201cDe-Identification\u201d). The De-Identification will involve, among other things, all de-identification required by the Existing Franchise Agreement and physical changes of distinctive features for a \u201cSystem Hotel,\u201d including removal of any free-standing sign down to the structural steel, to preclude any confusion, and compliance with all other requirements of the Existing Franchise Agreement that arise as a result of the sale of the Property to Purchaser. Upon Closing and in the event that Purchaser does not obtain the Franchise Approval from Hilton (but instead elects another franchise or brand or elects not to have any franchise or brand), Purchaser agrees to indemnify and hold Seller harmless from and against any and all losses, claims, damages, liabilities and expenses (including without limitation Attorneys Fees) arising from the termination of the Existing Franchise Agreement hereunder and/or Seller\u2019s ability or inability to obtain a release of Seller or any Seller related guarantor of the Existing Franchise Agreement and any failure by Purchaser to comply with all obligations arising in connection with De-Identification and any obligations imposed by Hilton on the owner of the Property after Closing.", "hash": "0b42a6b806f23581acb68b6da5ee6103", "id": 9}, {"size": 6, "snippet_links": [{"key": "the-purchaser", "type": "definition", "offset": [0, 13]}, {"key": "transfer-of", "type": "definition", "offset": [107, 118]}, {"key": "existing-franchise-agreement", "type": "clause", "offset": [123, 151]}, {"key": "applicable-to", "type": "definition", "offset": [162, 175]}, {"key": "the-hotel", "type": "definition", "offset": [176, 185]}, {"key": "new-franchise-agreement", "type": "clause", "offset": [191, 214]}, {"key": "estoppel-certificate", "type": "clause", "offset": [279, 299]}, {"key": "form-and-substance", "type": "clause", "offset": [332, 350]}, {"key": "the-seller", "type": "clause", "offset": [386, 396]}, {"key": "agrees-to", "type": "clause", "offset": [397, 406]}, {"key": "efforts-to-obtain", "type": "clause", "offset": [420, 437]}], "samples": [{"hash": "eimLFBdVs2S", "uri": "/contracts/eimLFBdVs2S#franchise", "label": "Purchase Agreement (Humphrey Hospitality Trust Inc)", "score": 18.0, "published": true}, {"hash": "2wq9evtCte0", "uri": "/contracts/2wq9evtCte0#franchise", "label": "Purchase Agreement (Humphrey Hospitality Trust Inc)", "score": 18.0, "published": true}], "snippet": "The Purchaser or its designee shall have received, at the Purchaser's option and expense, an assignment or transfer of any existing franchise agreement currently applicable to the Hotel or a new franchise agreement from Holiday Inn Worldwide (the \"Franchisor\"), together with an estoppel certificate from the existing franchisor in form and substance acceptable to the Purchaser, which the Seller agrees to use its best efforts to obtain.", "hash": "e52c852d162e08dda172fd1f15e02817", "id": 6}, {"size": 5, "snippet_links": [{"key": "sole-responsibility", "type": "clause", "offset": [24, 43]}, {"key": "the-property", "type": "clause", "offset": [75, 87]}, {"key": "the-assumption", "type": "clause", "offset": [92, 106]}, {"key": "agreement-or", "type": "definition", "offset": [133, 145]}, {"key": "agreement-for", "type": "clause", "offset": [182, 195]}, {"key": "the-buyer-must", "type": "clause", "offset": [210, 224]}, {"key": "pay-for", "type": "definition", "offset": [225, 232]}, {"key": "fees-and-costs", "type": "definition", "offset": [253, 267]}, {"key": "the-franchise", "type": "clause", "offset": [310, 323]}, {"key": "responsible-for", "type": "clause", "offset": [345, 360]}, {"key": "improvement-plan", "type": "definition", "offset": [395, 411]}, {"key": "required-by", "type": "definition", "offset": [420, 431]}, {"key": "transfer-of-the", "type": "clause", "offset": [624, 639]}, {"key": "the-issuance", "type": "clause", "offset": [662, 674]}, {"key": "to-buyer", "type": "definition", "offset": [694, 702]}, {"key": "not-limited", "type": "clause", "offset": [747, 758]}, {"key": "assumption-fees", "type": "definition", "offset": [819, 834]}, {"key": "termination-fees", "type": "definition", "offset": [840, 856]}, {"key": "by-the-seller", "type": "clause", "offset": [865, 878]}, {"key": "survive-closing", "type": "clause", "offset": [933, 948]}], "samples": [{"hash": "jzXVylYBhA9", "uri": "/contracts/jzXVylYBhA9#franchise", "label": "Hotel Purchase Agreement (Supertel Hospitality Inc)", "score": 22.57289505, "published": true}, {"hash": "dkptIqBRquv", "uri": "/contracts/dkptIqBRquv#franchise", "label": "Hotel Purchase Agreement (Supertel Hospitality Inc)", "score": 22.57289505, "published": true}, {"hash": "d8J7e8vYwgw", "uri": "/contracts/d8J7e8vYwgw#franchise", "label": "Hotel Purchase Agreement (Supertel Hospitality Inc)", "score": 22.57289505, "published": true}], "snippet": "It shall be the Buyer\u2019s sole responsibility to deal with the franchisor of the Property for the assumption of the existing franchise agreement or the negotiation for a new franchise agreement for the Property. The Buyer must pay for (i) all application fees and costs for such assumption of or negotiation for the franchise, and shall be solely responsible for any costs or fees for the Product Improvement Plan (\u201cPIP\u201d) required by the franchisor for said assumption or new franchise. The Buyer hereby indemnifies and holds harmless the Seller for any costs, loss, damage, fees or expense the Seller incurs by reason of the transfer of the existing franchise or the issuance of a new franchise to Buyer or Buyer\u2019s agents or assigns, including but not limited to application fees, PIP fees and costs associated thereby, assumption fees, and termination fees claimed by the Seller\u2019s franchisor against the Seller. 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[4828, 4839]}, {"key": "after-closing", "type": "definition", "offset": [4840, 4853]}, {"key": "identification-required", "type": "clause", "offset": [4954, 4977]}, {"key": "compliance-with", "type": "clause", "offset": [5009, 5024]}, {"key": "requirements-of-the", "type": "clause", "offset": [5035, 5054]}, {"key": "sale-of-the-property", "type": "clause", "offset": [5105, 5125]}, {"key": "in-the-event", "type": "clause", "offset": [5157, 5169]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [5347, 5365]}, {"key": "liabilities-and-expenses", "type": "clause", "offset": [5440, 5464]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [5476, 5496]}, {"key": "inability-to", "type": "clause", "offset": [5611, 5623]}, {"key": "release-of-seller", "type": "clause", "offset": [5633, 5650]}, {"key": "failure-by-the", "type": "clause", "offset": [5718, 5732]}, {"key": "comply-with", "type": "definition", "offset": [5742, 5753]}, {"key": "all-obligations", "type": "clause", "offset": [5754, 5769]}, {"key": "owner-of-the-property", "type": "definition", "offset": [5864, 5885]}], "samples": [{"hash": "aHgentuEndb", "uri": "/contracts/aHgentuEndb#franchise", "label": "Purchase and Sale Agreement", "score": 31.3408622742, "published": true}, {"hash": "kArP1qRzZ4S", "uri": "/contracts/kArP1qRzZ4S#franchise", "label": "Purchase and Sale Agreement (Carey Watermark Investors Inc)", "score": 24.1403141022, "published": true}, {"hash": "epFPbYYudx", "uri": "/contracts/epFPbYYudx#franchise", "label": "Purchase and Sale Agreement (Carey Watermark Investors Inc)", "score": 24.1403141022, "published": true}], "snippet": "(a) Within 3 Business Days after the Effective Date, the Buyer shall submit a franchise application to Franchisor, together with all required related documents and submittals, and shall pay all fees and costs imposed by Franchisor in connection with such application. The Buyer acknowledges that the Seller has obtained and delivered to the Buyer the product improvement plan required by the Franchisor with respect to the Hotel (the \u201cPIP\u201d). During the Study Period (and commencing immediately upon the Effective Date), the Buyer shall use its commercially reasonable efforts, and pay all costs and expenses therewith associated, to obtain a franchise commitment (the \u201cNew Franchise\u201d) with respect to the Property from the current Franchisor, all upon terms and conditions reasonably acceptable to the Buyer; provided that the Buyer agrees that it will accept (if not able to negotiate any more favorable terms from Franchisor) (i) a term ending at the current expiration date of the existing Franchise Agreement, (ii) Franchisor\u2019s standard fees (without requiring any waiver or reduction), and (iii) Franchisor\u2019s current standard form of franchise agreement. The Seller and the Buyer shall cooperate with each other and the Franchisor to expedite completion of the same. If the Buyer does not receive the New Franchise or approval thereof from the Franchisor on or before the expiration of the Study Period, the Buyer may, at its option, upon written notice to the Seller have up to an additional 15 days to obtain the New Franchise or approval thereof (the Study Period as so extended solely for such purposes, the \u201cFranchise Approval Period\u201d); provided that the Buyer shall review and approve the PIP prior to the expiration of the Study Period and, if the Buyer has not elected to terminate this Agreement prior to the expiration of the Study Period, the Seller shall be deemed to have approved of the PIP. If, despite Buyer\u2019s good faith, commercially reasonable efforts, the Buyer does not receive the New Franchise or approval thereof from the Franchisor on or before the expiration of the Franchise Approval Period, the Buyer may, at its option, upon written notice to the Seller and the Escrow Agent terminate this Agreement, at which time the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Money shall be returned promptly to the Buyer and upon return of the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Money, the Buyer and the Seller shall have no further rights, liabilities or obligations hereunder (except as expressly survive the termination of this Agreement). If the Buyer does not elect to terminate, to the extent permitted, on or before the expiration of the Franchise Approval Period, the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Money shall remain non-refundable, except as otherwise expressly set forth in this Agreement, and the Buyer\u2019s obligation to purchase the Property shall be conditional only as otherwise provided in accordance with the terms of this Agreement. All costs of the New Franchise, including, without limitation, costs associated with any required property improvement plan (including the PIP), attorneys\u2019 fees and costs of Franchisor, and reserves required by Franchisor, shall be the responsibility of the Buyer.\n(b) If the Buyer elects not to obtain a New Franchise from Franchisor (but instead elects another franchisor or brand or elects not to have any franchise or brand) or the Buyer does not obtain the New Franchise and does not terminate this Agreement in accordance with SECTION 3.4(a) and proceeds to Closing, the Buyer shall (i) pay all cancellation fees, termination fees, removal fees or other amounts owed to Franchisor as a result of cancellation and termination of the Franchise Agreement, (ii) immediately upon Closing, cease operating the Property as a \u201cSystem Hotel\u201d within the Franchisor system, including, without limitation, not directly or indirectly representing or giving the impression that it is a present or former franchisee or licensee of Franchisor or that the Property was previously a \u201cSystem Hotel,\u201d and (iii) immediately upon Closing, at its sole cost and expense, immediately and permanently remove or cause to be removed from the Property all identifying characteristics, marks and intellectual property of Franchisor and its \u201cSystem Hotels,\u201d including, without limitation, all electronic systems, signs, fixtures, furniture, furnishings, equipment, advertising materials, stationery, supplies, forms and other items containing the words, trademark, service marks or insignia for a \u201cSystem Hotel,\u201d return to Franchisor its intellectual property and other materials proprietary to Franchisor, make such alterations as may be necessary and required by Franchisor to distinguish the Hotel from its former appearance and other \u201cSystem Hotels\u201d and allow Franchisor to enter upon the Property to complete any of the foregoing not completed by the Buyer within thirty days after Closing (collectively, \u201cDe-Identification\u201d). The De-Identification will involve, among other things, all de-identification required by the Franchise Agreement and compliance with all other requirements of the Franchise Agreement that arise as a result of the sale of the Property to the Buyer. Upon Closing and in the event that the Buyer does not obtain a New Franchise from Franchisor (but instead elects another franchise or brand or elects not to have any franchise or brand), the Buyer agrees to indemnify and hold the Seller harmless from and against any and all losses, claims, damages, liabilities and expenses (including reasonable attorneys\u2019 fees and costs) arising from the termination of the Franchise Agreement hereunder and/or the Seller\u2019s ability or inability to obtain a release of Seller or any Seller related guarantor of the Franchise Agreement and any failure by the Buyer to comply with all obligations arising in connection with De-Identification and any obligations imposed by Franchisor on the owner of the Property after Closing.", "hash": "1f281a56855e5074514cd5beec38cbaa", "id": 3}, {"size": 4, "snippet_links": [{"key": "the-premises", "type": "clause", "offset": [3, 15]}, {"key": "right-to-use", "type": "clause", "offset": [140, 152]}, {"key": "trade-name", "type": "definition", "offset": [157, 167]}, {"key": "term-of-this-agreement", "type": "definition", "offset": [216, 238]}, {"key": "pursuant-to-a", "type": "clause", "offset": [240, 253]}, {"key": "franchise-or-license-agreement", "type": "clause", "offset": [254, 284]}, {"key": "franchise-agreement", "type": "clause", "offset": [291, 310]}, {"key": "provide-the", "type": "clause", "offset": [405, 416]}, {"key": "the-franchise", "type": "clause", "offset": [437, 450]}, {"key": "reasonable-evidence", "type": "definition", "offset": [465, 484]}, {"key": "agreement-remains-in-full-force-and-effect", "type": "clause", "offset": [495, 537]}, {"key": "termination-of", "type": "definition", "offset": [570, 584]}, {"key": "breach-of", "type": "definition", "offset": [828, 837]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [855, 887]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [983, 1016]}, {"key": "pursuant-to-section-16", "type": "clause", "offset": [1017, 1039]}], "samples": [{"hash": "j1PGD7H5exe", "uri": "/contracts/j1PGD7H5exe#franchise", "label": "Temporary Food Cart Lease and Concession Agreement", "score": 28.87266922, "published": true}, {"hash": "12wxdtrulez", "uri": "/contracts/12wxdtrulez#franchise", "label": "Temporary Food Cart Lease and Concession Agreement", "score": 28.7489852905, "published": true}, {"hash": "hsHJXLY7lXu", "uri": "/contracts/hsHJXLY7lXu#franchise", "label": "Lease and Concession Agreement", "score": 26.5678062439, "published": true}], "snippet": "If the Premises are operated under a franchise, Concessionaire represents and warrants to the Port that Concessionaire has been granted the right to use any trade name that may be used at the Premises for the entire term of this Agreement, pursuant to a franchise or license agreement (the \u201cFranchise Agreement\u201d) with the trade name owner (a \u201cFranchisor\u201d). At the Port\u2019s request, Concessionaire agrees to provide the Port with a copy of the Franchise Agreement and reasonable evidence that such agreement remains in full force and effect. Concessionaire agrees that the termination of Concessionaire\u2019s right to use Concessionaire\u2019s trade name at the Premises or to conduct an operation at the Premises of the type then conducted by or under license from Franchisor under Concessionaire\u2019s trade name, shall constitute a material breach of Concessionaire\u2019s obligations under this Agreement. Concessionaire agrees that if such Franchise Agreement is terminated, the Port shall have the right to terminate this Agreement pursuant to SECTION 16 of this Agreement.", "hash": "832c97aaeff414d26886e17fba3138f6", "id": 10}], "next_curs": "ClISTGoVc35sYXdpbnNpZGVyY29udHJhY3Rzci4LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhJmcmFuY2hpc2UjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 252, "children": [["grant-of-franchise", "Grant of Franchise"], ["franchise-area", "Franchise Area"], ["franchise-service", "Franchise Service"], ["consent-of-city-required", "Consent of City Required"], ["current-ownership-and-control", "Current Ownership and Control"]], "parents": [["definitions", "DEFINITIONS"], ["conditions-and-additional-covenants", "CONDITIONS AND ADDITIONAL COVENANTS"], ["scope-of-agreement", "Scope of Agreement"], ["study-period", "Study Period"], ["contributors-obligations", "Contributor's Obligations"]], "title": "Franchise", "id": "franchise", "related": [["franchise-tax-status", "Franchise Tax Status", "<strong>Franchise</strong> Tax Status"], ["term-of-franchise", "Term of Franchise", "Term of <strong>Franchise</strong>"], ["grant-of-franchise", "Grant of Franchise", "Grant of <strong>Franchise</strong>"], ["license", "License", "License"], ["value-added-tax-vat", "Value Added Tax (VAT", "Value Added Tax (VAT"]], "related_snippets": [], "updated": "2026-02-20T05:50:57+00:00"}, "json": true, "cursor": ""}}