Hotel Opening Date definition

Hotel Opening Date means the date specified in the Hotel Management Agreement which is the date upon which the Hotel Management Company first admits paying overnight guest to the Hotel

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Hotel Opening Date. The date upon which Project Completion has occurred.

Hotel Opening Date means the first date on which each of the following has occurred:

Examples of Hotel Opening Date in a sentence

Landlord shall in all cases have substantially completed the Common Areas and Hotel (substantially complete meaning for this purpose that the Common Areas and Hotel that a certificate of occupancy, whether, temporary or permanent ("Certificate of Occupancy") shall have been issued for the Hotel (including the Common Areas) so that the Common Areas and Hotel are open for business on or before the date as set forth in the License Agreement (the "Hotel Opening Date").
Landlord shall, in all cases, have delivered the substantially completed Shell of the Premises by the date which is one hundred eighty (180) days prior to the Hotel Opening Date, subject to delays caused by Force Majeure, Tenant Delay or defaults on the part of Tenant.
The parties acknowledge that if the Hotel has not achieved the Four Star Standard rating from the Rating System by the expiration of twenty-four (24) months after the Hotel Opening Date, or thereafter fails to maintain its Four Star Standard rating by the Rating System (each, “Rating Failure”), default provisions and remedies as specified in the City Agreements shall apply (collectively, the “City Remedies”).
The License commences on the date on which the Hotel opens for business as a System Hotel ("Opening Date").
Notwithstanding the foregoing, in the event Landlord shall have delivered the substantially completed Shell of the Premises earlier than one hundred eighty (180) days prior to the Hotel Opening Date, such early delivery shall not require Tenant to complete the Work and be open for business prior to the Hotel Opening Date.
This Agreement shall commence on the Residential Opening Date and shall continue until the thirtieth (30th) anniversary of the Hotel Opening Date, subject to extension or early termination as provided elsewhere in this Agreement (the “Term”).
Developer shall further require its Contractors to repair, replace, restore, or otherwise correct all Construction Work not subject to a warranty enforceable against a third party, which is found during the period of one (1) year from the Hotel Opening Date to be defective in material and workmanship or not in conformance with the Plans and Specifications or the Requirements in any material respect.
If the term of the Hotel Management Agreement for any reason extends beyond the 30th anniversary of the Hotel Opening Date, then the Term of this Agreement shall automatically be extended to make it co-terminous with the Hotel Management Agreement.
The initial Four Star Standard rating, as published by the Rating System, must be achieved within twenty-four (24) months after the Hotel Opening Date (i.e., when the Hotel is officially open for business to the general public).

More Definitions of Hotel Opening Date

Hotel Opening Date means the date on which the Hotel opens for business as a hotel to the general public (and substantially all of the rooms are available for occupancy) and is operated either (a) by Borrower (subject to the terms and conditions hereof), or (b) pursuant to an Approved Hotel Management Agreement. “Impositions” means all Taxes (including all ad valorem, sales (including those imposed on lease rentals), use, single business, gross receipts, value added, intangible transaction, privilege or license or similar Taxes but excluding Excluded Taxes, income or similar Taxes in the nature of income Taxes), governmental assessments (including all assessments for public improvements or benefits, whether or not commenced or completed prior to the date hereof and whether or not commenced or completed within the term of this Agreement), water, sewer or other rents and charges, excises, levies, fees (including license, permit, inspection, authorization and similar fees), and all other governmental charges, in each case whether general or special, ordinary or extraordinary, or foreseen or unforeseen, of every character in respect of the Mortgaged Property (including all interest and penalties thereon), which at any time prior to, during or in respect of the term hereof may be assessed or imposed on or in respect of or be a Lien upon (a) Borrower (including all income, franchise, single business or other taxes imposed on Borrower for the privilege of doing business in the jurisdiction in which the Property is located), (b) the Mortgaged Property, or any other collateral delivered or 23 pledged to the Administrative Agent for the benefit of Secured Parties in connection with the Loan, or any part thereof, or any Rents (as defined in the Mortgage) therefrom or any estate, right, title or interest therein, or (c) any occupancy, operation, use or possession of, or sales from, or activity conducted on, or in connection with the Mortgaged Property or the leasing or use of all or any part thereof. “Improvements” shall have the meaning given in the granting clause of the Mortgage. “Indebtedness” shall mean, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables), whether or not contingent: (1) in respect of borrowed money; (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); (3) in respect of banker’s acceptances; (4) representing Capital Lea...