Operating Term. The term of this Agreement shall commence on the Commencement Date and shall terminate at midnight on the date that is three (3) years after the Commencement Date (the “Initial Term”), subject to earlier termination or extension as set forth herein. This Agreement shall automatically renew for two (2) additional terms of one (1) year each (each, a “Renewal Term”) unless either party gives the other party written notice of termination at least ninety (90) days prior to the end of the Initial Term or the then-current Renewal Term. ARTICLE 3 OPERATION OF THE HOTEL
Appears in 2 contracts
Samples: Hotel Management Agreement (Condor Hospitality Trust, Inc.), Hotel Management Agreement (Condor Hospitality Trust, Inc.)
Operating Term. The term of this Agreement shall commence on the Commencement Date and shall terminate at midnight on the date that is three (3) years after the Commencement Date (the “Initial Term”), subject to earlier termination or extension as set forth herein. This Agreement shall automatically renew for two (2) additional terms of one (1) year each (each, a “Renewal Term”) unless either party gives the other party written notice of termination at least ninety (90) days prior to the end of the Initial Term or the then-current Renewal Term. ARTICLE 3 OPERATION OF THE HOTEL.
Appears in 1 contract
Samples: Hotel Management Agreement (Condor Hospitality Trust, Inc.)
Operating Term. The term of this Agreement shall commence on the Commencement Date and shall terminate at midnight on the date that is ______________________, [three (3) years after year term from the Commencement Date Date] (the “"Initial Term”"), subject to earlier termination or extension as set forth herein. This Agreement shall automatically renew for additional two (2) additional terms of one (1) year each (each, a “"Renewal Term”") unless either party gives the other party written notice of termination at least ninety (90) days prior to the end of the Initial Term or the then-current Renewal Term. ARTICLE 3 OPERATION OF THE HOTEL.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)
Operating Term. The term of this Agreement shall commence on the Commencement Date and shall terminate at midnight on the date that is three (3) years after year term from the Commencement Date (the “"Initial Term”"), subject to earlier termination or extension as set forth herein. This Agreement shall automatically renew for additional two (2) additional terms of one (1) year each (each, a “"Renewal Term”") unless either party gives the other party written notice of termination at least ninety (90) days prior to the end of the Initial Term or the then-current Renewal Term. ARTICLE 3 OPERATION OF THE HOTEL.
Appears in 1 contract
Samples: Hotel Management Agreement (Condor Hospitality Trust, Inc.)
