Hotel Operation. Without in any way limiting the covenants set forth elsewhere in the Loan Documents, Borrower shall: (i) cause the hotel located on the Property to be operated, repaired and maintained in accordance with the Franchise Agreement (for so long as the Franchise Agreement is in effect) and in any case as a hotel providing amenities, services and facilities substantially equivalent or superior to hotels of similar average room rate and targeted market segment from time to time operating in the same or comparable geographic area of the Property, taking into consideration the age and location of the hotel located on the Property and (ii) maintain Inventory in amounts sufficient to meet the hotel industry standard for hotels comparable to the hotel located on the Property and at levels sufficient for the operation of the hotel located on the Property at full occupancy levels.
Hotel Operation. Without in any way limiting the covenants set forth in this Article 5 or elsewhere in the Loan Documents, the hotel located on each Property shall be operated and managed pursuant to a Property Management Agreement and shall not be subject to any Franchise Agreement and Property Management Agreement at the same time. If Agent provides its prior written consent, to be given or withheld in its sole discretion, to any Borrower to terminate its Property Management Agreement and gives such Borrowers its written consent, to be given or withheld in its sole discretion, to enter into a Franchise Agreement, Borrowers:
Hotel Operation. From and after the date hereof, Borrower shall continue to operate the Hotel (to the extent within Borrower's control) materially in accordance with Borrower's past practices and the terms of the Operating Lease.
Hotel Operation. The Hotel Operation is an opportunity for a business to provide overnight accommodations by managing up to 27 guest rooms. The facility presents different market-positioning concepts such as a historic lodge, boutique hotel, or bed and breakfast. Operating requirements include:
Hotel Operation. Borrower ceases to do business as a hotel or motel on the Property or terminates such business for any reason whatsoever (other than temporary cessation in connection with any renovations to the Property or restoration thereof following a casualty or condemnation).
Hotel Operation. Seller shall continue to operate and maintain the Premises in accordance with past practices and applicable laws in all material respects, and except to the extent necessary to remedy an emergency situation risking harm to persons or property, Seller shall not make any alterations or changes
Hotel Operation. Without in any way limiting the covenants set forth in Section 5.8 or elsewhere in the Loan Documents, Borrower shall (and shall cause Operating Tenant to): (i) cause the hotel located on the Property to be operated, repaired and maintained as a well-maintained “first-class hotel” which shall mean a hotel providing amenities, services and facilities substantially equivalent or superior to hotels of similar average room rate and targeted market segment from time to time operating on Kauai, taking into consideration the age and location of the hotel located on the Property and (ii) maintain Inventory in amounts sufficient to meet the hotel industry standard for hotels comparable to the hotel located on the Property and at levels sufficient for the operation of the hotel located on the Property at full occupancy levels. Notwithstanding the foregoing, the operating standard set forth in clause (i) above shall be deemed to be complied with if the Manager is complying with the standards set forth in the Management Agreement.
Hotel Operation. The operator of the Hotel will be (1) [ ], a [ ], or any entity under common control of or by the same, or common control by the shareholders or principals of the same, or (2) any other person or entity reasonably approved by the City Representative, with such approval not to be unreasonably conditioned, withheld, or delayed (the “Hotel Operator”), provided that the rooftop bar/restaurant may be operated by an entity other than the Hotel Operator. In the event of default under this Agreement by the Developer, which default results in a change in operation of a constructed and operating Hotel, the Developer will promptly notify the City and provide for the City’s written approval of a substitute operator for the operation and management of the Hotel with financial resources and experience satisfactory to the City to ensure the cure of the default necessitating the change in operator and the continued operation of the Hotel in full compliance with this Agreement during the remainder of the Term.
Hotel Operation. Upon the termination or expiration of this License for any reason, Developer will have a period of six (6) months after the date of the termination or expiration to provide any replacement parking that maybe required by applicable government regulations at the time of termination or expiration.
Hotel Operation. Except with prior written consent of the Purchaser Parties which shall not be unreasonably withheld, conditioned or delayed and except as may be expressly permitted by this Agreement, prior to the Closing, the Seller Parties shall cause OwnerCo LLC and/or Operating Tenant to (i) use commercially reasonable efforts to cause Manager to operate the Hotel in the Ordinary Course of Business (including, but not limited to, with respect to the depletion, supply and re-supply of the F&B, Retail Merchandise, FF&E, and Supplies) and otherwise in accordance in all material respects with the Management Agreement, (ii) perform its obligations under the Management Agreement in all material respects, and (iii) not give any approvals requested by Manager under the Management Agreement, without the prior written consent of the Purchaser Parties, which consent shall not be unreasonably withheld, conditioned or delayed and shall be deemed given if not denied if the Seller Parties, OwnerCo LLC and/or Operating Tenant make a written request therefor from the Purchaser Parties within one (1) Business Day after Manager’s request and the Purchaser Parties fail to respond to such request in writing within the earlier to occur of five (5) Business Days after written request therefor or the time within which any response would be required under the Management Agreement.
