Marriott Managed Properties definition

Marriott Managed Properties means, individually and/or collectively as the context may require, (a) the Individual Property known as Marriott, Redmond, Washington, (b) the Individual Property known as Spring Hill Suites, Ft. Worth, Texas and (c) the Individual Property known as Courtyard by Marriott, Myrtle Beach, South Carolina.
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Marriott Managed Properties means the Properties known as Residence Inn - Denver, Residence Inn - Wichita and Residence Inn - Sili I for so long as such Properties continue to be managed by Manager.
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Examples of Marriott Managed Properties in a sentence

  • Lender acknowledges that Operating Lessee and Mortgage Borrowers are parties to Management Agreements and Franchise Owner Agreements (“Marriott Management Documents”) with respect to the Marriott Managed Properties as of the date hereof and that certain obligations of the Loan Parties, and certain rights of the Lender, under the Loan Documents relate to matters that are within the control and discretion of the Marriott Manager and not the Loan Parties, the Mortgage Loan Parties or Lender.

  • Lender acknowledges that Operating Lessee and Borrowers are parties to Management Agreements and Franchise Owner Agreements (“Marriott Management Documents”) with respect to the Marriott Managed Properties as of the date hereof and that certain obligations of the Loan Parties, and certain rights of the Lender, under the Loan Documents relate to matters that are within the control and discretion of the Marriott Manager and not the Loan Parties or Lender.

  • Borrower shall cause the Properties (other than the Marriott Managed Properties) to be operated pursuant to the Franchise Agreements.