Major Hotel definition
Examples of Major Hotel in a sentence
Notwithstanding anything to the contrary contained in this Agreement, Issuer shall not assign in whole or in part any of its rights or delegate any of its obligations hereunder to any acquiror thereof that is a Major Hotel Operator (as defined in Section 3(a) of the Development Agreement) other than Investor until the later to occur of : (A) the Closing Date; and (B) the expiration pursuant to its terms of Issuer's exclusivity covenant in Section 3(b) of the Development Agreement.
In addition to other actions on termination of this Agreement, for up to one hundred twenty (120) days following the date of notice of a termination of this Agreement, Managing Agent shall cooperate with the Company and the Owners and use commercially reasonable efforts to facilitate the orderly transfer of (i) management of the Managed Premises and (ii) Major Hotel Capital Projects.