Hotel Operator Sample Clauses

The 'Hotel Operator' clause defines the party responsible for managing and operating the hotel property under the agreement. It typically outlines the operator's duties, such as overseeing daily operations, hiring staff, maintaining standards, and ensuring compliance with brand requirements. This clause clarifies the operator's authority and obligations, ensuring both parties understand who is accountable for the hotel's performance and management, thereby reducing potential disputes and ensuring smooth operation of the property.
POPULAR SAMPLE Copied 1 times
Hotel Operator. The Manager shall have the right to contract with or assign or delegate to the Hotel Operator, or other third parties, some or all of the responsibilities of the Manager under this Agreement (excluding the provisions of Insurance of Section 14 and the provisions of Indemnification of Section 15 herein), and any of those parties may sub- contract their respective duties with respect to their management and operation responsibilities. The Manager shall provide written notice to the City of any contractual assignment of its rights or obligations hereunder. The Hotel Operator shall be a contractor, subsidiary, or affiliate of the Manager and shall be responsible for the management and operation of the Hotel and the Project.
View SourceView Similar (2)
Hotel Operator. Borrower acknowledges that the Bank has agreed to make this loan in reliance on the expertise of ▇▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇. ▇▇▇▇▇ in operating properties such as the Term Loan Properties. Borrower agrees that unless the Bank otherwise consents in writing (which consent shall not be unreasonably withheld), one or more of the individuals listed in the preceding sentence shall be actively involved in the operation and management of the Term Loan Properties throughout the term of this Agreement.
View SourceView Similar (2)
Hotel Operator. Borrower acknowledges that the Bank has agreed to make this loan and to consent to the merger with HH Trust and the transfer of real estate to HHLP in reliance on the expertise of ▇▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇. ▇▇▇▇▇ in operating properties such as the Revolving Loan Properties. Borrower agrees that unless the Bank otherwise consents in writing (which consent shall not be unreasonably withheld) one or more of the individuals listed in the preceding sentence shall be actively involved in the operation and management of the Revolving Loan Properties throughout the term of this Agreement.
View Source
Hotel Operator. Hotel Operator" shall mean a person or entity experienced in the management of a first-class national or international luxury resort hotel at standards equal to the 1994 published standard necessary to receive at least a 4-Diamond rating from the American Automobile Association."
View Source
Hotel Operator. (a) The Borrower acknowledges that the Lenders will rely on HH Management's experience in operating properties such as the Borrowing Base Assets as a means of maintaining the value of the Collateral. In connection with the approval of HH Management, as tenant and operator (the "HOTEL OPERATOR"), or any replacement Hotel Operator approved by the Agent and Majority Lenders in their sole and absolute discretion: (i) the Hotel Operator or holder of the stock or partnership interest therein, shall be a Person whose character, financial strength, stability and experience is acceptable to the Lenders and who shall have experience managing complexes of a type and size reasonably similar to the Borrowing Base Assets; in furtherance thereof, Jame▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇. ▇▇▇ll at all times retain the majority ownership and control of HH Management and shall so certify in each Covenant Compliance Certificate; (ii) the Hotel Operator shall deliver all organizational documentation and other materials evidencing its experience, which must be acceptable to the Lenders; (iii) the Borrower shall pay a reasonable fee to the Agent, together with the reasonable fees, costs and expenses of the Agent and the Agent's counsel incurred in connection with the review and approval of any such Hotel Operator; and (iv) the terms of any lease, or if HHLP and/or Solomons elects to operate the Borrowing Base Assets through a management contract, affecting the Collateral must be acceptable to the Agent in all respects. (b) The Borrower shall, from time to time, use its best efforts to obtain from the Hotel Operator under the Leases such certificates of estoppel with respect to compliance by Borrower with the terms of the Leases as may be requested by the Agent.
View Source
Hotel Operator. Hyatt International Technical Services, or such other firm or person as may be appointed by the Employer.
View Source
Hotel Operator. If Omni wishes to designate a replacement Hotel Operator following completion of the Improvements and prior to the expiration of the Restriction Period, such replacement Hotel Operator shall be subject to City’s prior approval, which approval will not be withheld, conditioned or delayed unreasonably; provided, however, that Omni may designate a replacement Hotel Operator without the City’s prior approval if such replacement Hotel Operator is operating under the brand standards of any of Marriot, Westin, Hyatt, InterContinental or Fairmount. Without limiting the foregoing, in assessing whether to approve a potential replacement, City shall have the right to consider, without limitation, whether the proposed operator is adequately capitalized, the branding of the Hotel Improvements and specifically the adequacy of the flag under which the Improvements will be operated, and whether the replacement operator has at least ten (10) years’ experience operating similar facilities. Any successor Hotel Operator shall be subject to and bound by the terms of this Agreement, and shall execute such documents as City may request to evidence and confirm the same.
View Source
Hotel Operator 
View Source

Related to Hotel Operator

  • Property Manager Any entity that has been retained to perform and carry out property rental, leasing, operation and management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property.

  • Operator The Optionee shall be the operator for purposes of developing and executing exploration programs.

  • Property Management (a) Borrower shall (i) cause Manager to manage the Properties in accordance with the Management Agreement, (ii) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed, (iii) promptly notify Lender of any default under the Management Agreement of which it is aware, (iv) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the Management Agreement, and (v) promptly enforce the performance and observance of all of the covenants required to be performed and observed by Manager under the Management Agreement in a commercially reasonable manner. If Borrower shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its Obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed. In no event shall the fee payable to Manager for any Interest Period exceed the Management Fee Cap for such Interest Period and in no event shall Borrower pay or become obligated to pay to Manager, any transition or termination costs or expenses, termination fees, or their equivalent in connection with the Transfer of a Property or the termination of the Management Agreement. (b) If any one or more of the following events occurs: (i) the occurrence of an Event of Default, (ii) Manager shall be in material default under the Management Agreement beyond any applicable notice and cure period (including as a result of any gross negligence, fraud, willful misconduct or misappropriation of funds), or (iii) Manager shall become insolvent or a debtor in any bankruptcy or insolvency proceeding, then Lender shall have the right to require Borrower to replace the Manager and enter into a Replacement Management Agreement with (x) a Qualified Manager selected by Borrower that is not an Affiliate of Borrower or (y) another property manager chosen by Borrower and approved by Lender; provided, that such approval shall be conditioned upon Borrower delivering a Rating Agency Confirmation as to such property manager. If Borrower fails to select a new Qualified Manager or a replacement Manager that satisfies the conditions described in the foregoing clause (y) and enter into a Replacement Management Agreement with such Person within sixty (60) days of Lender’s demand to replace the Manager, then Lender may choose the replacement property manager provided that such replacement property manager is a Qualified Manager or satisfies the conditions set forth in the foregoing clause (y).

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Property Management Fee For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.