Comparable Standards definition
Comparable Standards means all of the following, as applicable:
Comparable Standards means (a) with respect to the Hotel Premises, the standards of management, operation and maintenance of a first-class hotel of a like quality to the ▇▇▇▇ Disney World Dolphin located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or in the event that the Agent (acting upon the reasonable direction of the Required Lenders) determines that the ▇▇▇▇ Disney World Dolphin is closed or no longer maintains the same standards as it did on the date of the Purchase and Sale Agreement, a Sheraton hotel located in a major city of the United States that is a vacation destination center at a prime location as reasonably determined by the Agent which is comparable to the Hotel Premises in location, size, facilities, quality and nature (or in the event that the Borrower has entered into a Management Agreement with a Manager other than Sheraton, a hotel operated by such Manager that the Agent (acting upon the reasonable direction of the Required Lenders) determines is similar to the ▇▇▇▇ Disney World Dolphin, (b) with respect to the Retail Shops, the standards of management, operation and maintenance of a first-class retail shopping center which is comparable to the Retail Shops in location, size, tenant composition, facilities, quality and nature, (c) with respect to the Casino, the standards of management, operation and maintenance of a first-class casino which is comparable to the Casino in location, size, facilities, quality and nature, and (d) with respect to the Theater, the standards of management, operation and maintenance of a first- class theater which is comparable to the Theater in location, size, facilities, quality and nature.
Comparable Standards means (a) with respect to the Hotel Component, the standards of management, operation and maintenance of a first-class hotel of a like quality to the Paris Las Vegas Hotel and Casino located at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ or in the event that Lender reasonably determines that the foregoing is closed or no longer maintains substantially the same standards as it did on the date hereof, a such other hotel located in a major city of the United States that is a vacation destination center at a prime location as reasonably determined by Lender which is comparable to the Hotel Component in location, size, facilities, quality and nature, (b) with respect to the Casino Component, the standards of management, operation and maintenance of a first-class casino of a like quality to the Paris Las Vegas Hotel and Casino located at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ or in the event that Lender reasonably determines that the foregoing is closed or no longer maintains substantially the same standards as it did on the date hereof, a such other casino located in Las Vegas, Nevada, as reasonably determined by Lender which is comparable to the Casino Component in location, size, facilities, quality and nature, and (c) with respect to the TPA Component, the standards of maintenance and repair of the Improvements maintained with respect to the TPA Component as of the Closing Date.
Examples of Comparable Standards in a sentence
Subject to the TPA Component Lease, the TPA Component shall be maintained consistent with the Comparable Standards.
Borrower shall at all times manage, operate and maintain the Hotel Component and the Casino Component as a luxury themed hotel and casino resort in accordance with standards at least equivalent to the Comparable Standards.
The Theater shall be used to present events which are consistent with the first class nature of the complex, and consistent with the Comparable Standards.
The Borrower shall at all times manage, operate and maintain the Premises as a luxury themed casino hotel in accordance with standards at least equivalent to the Comparable Standards.
Borrower shall at all times manage, operate and maintain the Hotel Component, the Casino Component and the TPA Component as a luxury themed hotel and casino resort in accordance with standards at least equivalent to the Comparable Standards.
More Definitions of Comparable Standards
Comparable Standards means, as appropriate in context, the manner of operation, frequency of repairs made, cleanliness, quality of materials used, degree of training and retraining for employees, and other similar considerations, as are regularly used and/or practiced by (a) a majority of Licensor's other similar U.S. facilities (either hotel or casino), provided Licensor, at the time such Comparable Standards are being considered, has in full operation at least six (6) such similar U.S. facilities, or (b) if Licensor does not have six (6) similar U.S. facilities in full operation, similar U.S. facilities of similar size and catering to similar clientele who have earned a "four diamond" rating by the Automobile Club of America, at the time such Comparable Standards are being considered.
Comparable Standards means the standards of management, operation and maintenance of 3.5 star hotels in the Borough of Manhattan, New York which are comparable to the Premises in size, facilities, amenities, quality and nature.
Comparable Standards means the operation, management, and maintenance of the Premises in accordance with and as required under Section 4.1 of the Management Agreement.
Comparable Standards means (a) with respect to the Hotel Component, the standards of management, operation and maintenance of a first-class hotel of a like quality to the Paris Las Vegas Hotel and Casino located at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ or in the event that Lender reasonably determines that the foregoing is closed or no longer maintains substantially the same standards as it did on the date hereof, a such other hotel located in a major city of the United States that is a vacation destination center at a prime location as reasonably determined by Lender which is comparable to the Hotel Component in location, size, facilities, quality and nature, (b) with respect to the Casino Component, the standards of management, operation and maintenance of a first-class casino which is comparable to the Casino Component in location, size, facilities, quality and nature, and (c) with respect to the TPA Component, the standards of management, operation and maintenance of a first-class theater which is comparable to the TPA Component in location, size, facilities, quality and nature.
Comparable Standards means (a) for so long as the Franchise Agreement is in effect, the standards of operation, use and maintenance required therein and (b) at any time that the Franchise Agreement is not in effect, the standards of operation, use and maintenance of hotels located in within a four (4) mile radius of the Atlanta International Airport that are comparable to the Premises in location, price, size, facilities, amenities, quality and nature and typical of a nationally-branded, full service hotel.
Comparable Standards means (a) with respect to the Hotel Component, the standards of management, operation and maintenance of a first-class hotel of a like quality to the Paris Las Vegas Hotel and Casino located at 3655 Las Vegas Boulevard South, Las Vegas, Nevada or in the event that Lender reasonably determines that the foregoing is closed or no longer maintains substantially the same standards as it did on the date hereof, a such other hotel located in a major city of the United States that is a vacation destination center at a prime location as reasonably determined by Lender which is comparable to the Hotel Component in location, size, facilities, quality and nature, (b) with respect to the Casino Component, the standards of management, operation and maintenance of a first-class casino of a like quality to the Paris Las Vegas Hotel and Casino located at 3655 Las Vegas Boulevard South, Las Vegas, Nevada or in the event that Lender reasonably determines that the foregoing is closed or no longer maintains substantially the same standards as it did on the date hereof, a such other casino located in Las Vegas, Nevada, as reasonably determined by Lender which is comparable to the Casino Component in location, size, facilities, quality and nature, and
Comparable Standards means the operation, management, and maintenance of the Properties in accordance with and as required under Section 4.01 of the Management Agreements.