Common use of Representations of Management Company Clause in Contracts

Representations of Management Company. Management Company represents that it and/or its Affiliates are experienced and capable in the promotion, management, and operation of first-class hotels, and covenants and agrees, to the extent sufficient Working Capital and funding for expenditures described in Article VIII of this Agreement exist to manage and operate the Hotel as a first-class hotel in accordance with the standards of other first-class hotels managed and operated by Management Company and/or its Affiliates, and in strict compliance with that certain Franchise Agreement dated [______] between Marriott International, Inc.,as the “Franchisor,” and TRS, as the “Franchisee” (as such agreement may have been or may be amended subject to Article X below, the “Franchise Agreement”), respecting the Hotel. TRS acknowledges and agrees that Management Company is not making any representation, warranty or claim that the operation of the Hotel will be profitable. Management Company shall use the Hotel solely for the operation of a hotel business (including any designated restaurant and/or retail spaces as approved by TRS) and for other activities which are customary and usual in connection with such an operation.

Representations of Management Company. Management Company represents that it and/or its Affiliates are experienced and capable in the promotion, management, and operation of first-class hotels, and covenants and agrees, to the extent sufficient Working Capital and funding for expenditures described in Article VIII of this Agreement exist to manage and operate the Hotel as a first-class hotel in accordance with the standards of other first-class hotels managed and operated by Management Company and/or its Affiliates, and in strict compliance with that certain Franchise Agreement dated [______] between Marriott International, Inc.,as [_________],as the “Franchisor,” and TRS[_________], as the “Franchisee” (as such agreement may have been or may be amended subject to Article X below, the “Franchise Agreement”), respecting the Hotel. TRS acknowledges and agrees that Management Company is not making any representation, warranty or claim that the operation of the Hotel will be profitable. Management Company shall use the Hotel solely for the operation of a hotel business (including any designated restaurant and/or retail spaces as approved by TRS) and for other activities which are customary and usual in connection with such an operation.

Representations of Management Company. Management Company represents that it and/or its Affiliates are experienced and capable in the promotion, management, and operation of first-class hotels, and covenants and agrees, to the extent sufficient Working Capital and funding for expenditures described in Article VIII of this Agreement exist to manage and operate the Hotel as a first-class hotel in accordance with the standards of other first-class hotels managed and operated by Management Company and/or its Affiliates, and in strict compliance with that certain Franchise Agreement dated [______] between Marriott InternationalPromus Hotels, Inc.,as the “Franchisor,” and TRS, as the “Franchisee” (as such agreement may have been or may be amended subject to Article X below, the “Franchise Agreement”), respecting the Hotel. TRS acknowledges and agrees that Management Company is not making any representation, warranty or claim that the operation of the Hotel will be profitable. Management Company shall use the Hotel solely for the operation of a hotel business (including any designated restaurant and/or retail spaces as approved by TRS) and for other activities which are customary and usual in connection with such an operation.