Hotel Provisions. The Purchased Asset Documents for each Mortgage Loan that is secured by a hotel property operated pursuant to a franchise agreement or license agreement include an executed copy of such franchise agreement or license agreement as well as a comfort letter or similar agreement signed by the Mortgagor and franchisor or licensor of such property enforceable by the Purchaser or any subsequent holder of such Mortgage Loan (including a securitization trustee) against such franchisor, either directly or as an assignee of the originator, or pursuant to a replacement comfort letter or similar agreement with Purchaser. Subject to the Standard Qualifications, the Mortgage or related security agreement for each Mortgage Loan secured by a hospitality property creates a valid and enforceable security interest in the revenues of such property for which a UCC financing statement has been filed in the appropriate filing office.
Hotel Provisions. The Hotel flag for any Hotel within the Private Development must be approved in writing by the City, which approval shall not be withheld if such Hotel flag qualifies as an upscale hotel sector or better as defined by Xxxxx Travel Research as published from time to time, which includes as of the Effective Date, hotels such as Aloft, Courtyard, Double Tree, Four Points, Great Wolf Lodge, Hilton Garden Inn, Hyatt Place, Hyatt House, Radisson, and Springhill Suites.
Hotel Provisions. A. Purchaser to provide nine (9) HOTEL rooms with all day dining accessibility on property or nearby. Promoter will make every effort to obtain early check-in and later check-out times for rooms.
Hotel Provisions. A. Purchaser to provide four (4) HOTEL rooms with all day dining accessibility on property or nearby. Promoter will make every effort to obtain early check-in and later check-out times for rooms.
Hotel Provisions. The Purchased Asset Documents for each Purchased Asset that is secured by a hotel property operated pursuant to a franchise agreement or license agreement include an executed copy of such franchise agreement or license agreement as well as a comfort letter or similar agreement signed by the Mortgagor and franchisor or licensor of such property enforceable by Buyer or any subsequent holder of such Purchased Asset (including a securitization trustee) following Buyer or such holder acquiring record title to the Purchased Asset against such franchisor, either directly or as an assignee of the originator, or pursuant to a replacement comfort letter or similar agreement with Buyer. Subject to the Standard Qualifications, the Mortgage or related security agreement for each Purchased Asset secured by a hospitality property creates a valid and enforceable security interest in the revenues of such property for which a UCC financing statement has been filed in the appropriate filing office.
