Holiday Inns Sample Clauses

Holiday Inns. With reference to the Commitment Agreement ------------ (as defined below), Buyer shall have effective as of the Closing (i) executed a new license agreement with the Franchisor (as defined below) or (ii) caused the Franchisor to cancel the existing Commitment Agreement and in either event shall have provided to Seller the Holiday Inn Indemnification (as defined below) all in accordance with the provisions of Section 16.17.
Sample 1
AutoNDA by SimpleDocs
Holiday Inns. The Property is currently subject to a ------------ Commitment Agreement to Issue a Holiday Inn License Agreement (the "Commitment Agreement") with Holiday Inns Franchising, Inc. (the "Franchisor"). Effective at Closing, Buyer will (i) execute a new License Agreement with the Franchisor, or (ii) cause the Franchisor to cancel the existing Commitment Agreement. In any such event, Buyer shall pay for all fees directly related to any termination of the existing Commitment Agreement. In all events, Buyer shall pay any and all fees or other costs of any kind whatsoever in connection with or related to the execution of any new License Agreement with the Franchisor or with any other franchisor in connection with the Property. Seller shall pay all sums arising or accruing in connection with the Commitment Agreement (exclusive only of the termination fees to be paid by Buyer as provided immediately above) prior to the Closing. Prior to the Closing, Buyer shall deliver to Seller through escrow an indemnification of Seller and its affiliates (the "Holiday Inn Indemnification") from any liability under the existing Commitment Agreement accruing on or after the Closing Date which Holiday Inn Indemnification shall be in a form reasonably acceptable to Seller and Buyer.
Sample 1
Holiday Inns. Interstate covenants and agrees that it shall cooperate with Patriot/Wyndham to remove Wyndham and insert Interstate as the guarantor for the Franchise Agreements relating to the Holiday Inns Hotels.
Sample 1

Related to Holiday Inns

  • HOLIDAY 6.1 The Executive shall be entitled during the Employment to 30 working days holiday in each calendar year plus bank holidays. Holiday may only be taken at such time or times as the Chief Executive Officer shall approve. The Executive’s holiday entitlement shall be pro rated for the year in which the Employment begins and for the year in which the Employment ends.

  • Saturdays, Sundays, Holidays, etc If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

  • Saturdays, Sundays, Holidays If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday or a Sunday or shall be a legal holiday in the State of New York, then such action may be taken or such right may be exercised on the next succeeding day not a legal holiday.

  • Holidays Whenever payment of a Loan to be made or taken hereunder shall be due on a day which is not a Business Day such payment shall be due on the next Business Day (except as provided in Section 4.2 [Interest Periods]) and such extension of time shall be included in computing interest and fees, except that the Loans shall be due on the Business Day preceding the Expiration Date if the Expiration Date is not a Business Day. Whenever any payment or action to be made or taken hereunder (other than payment of the Loans) shall be stated to be due on a day which is not a Business Day, such payment or action shall be made or taken on the next following Business Day, and such extension of time shall not be included in computing interest or fees, if any, in connection with such payment or action.

  • Legal Holiday If the date on which any payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the date on which nominally due, and no interest shall accrue for the period from and after any such nominal date.

  • Legal Holidays In any case where the date on which any payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date on which nominally due, and no interest shall accrue for the period from and after any such nominal date.

  • Vacation, Holidays and Sick Leave During the Term, the Executive shall be entitled to paid vacation, paid holidays and sick leave in accordance with the Company's standard policies for its senior executive officers.

  • Vacation; Holidays The Executive shall be entitled to all public holidays observed by the Company and vacation days in accordance with the applicable vacation policies for senior executives of the Company, which shall be taken at a reasonable time or times.

  • 00000 Attention Xxxxx X. Xxxxxxxxxx

  • Vacations and Sick Leave The Executive shall be entitled to paid annual vacation leave in accordance with the policies as established from time to time by the Board of Directors, which shall in no event be less than four weeks per annum. The Executive shall also be entitled to an annual sick leave benefit as established by the Board for senior management employees of the Bank. The Executive shall not be entitled to receive any additional compensation from the Bank for failure to take a vacation or sick leave, nor shall he be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year to year a maximum of ten days of unused vacation leave.

Time is Money Join Law Insider Premium to draft better contracts faster.