Marriott Property definition
Examples of Marriott Property in a sentence
If at any time Marriott is no longer Manager of any Marriott Property pursuant to the terms and provisions of the applicable Management Agreement, Borrower shall comply with all of the insurance, casualty and condemnation requirements and obligations set forth in this Agreement and in the other Loan Documents with respect to such Individual Property.
Demolition Purchase Option: Marriott Owner has the option to purchase the Foundation Parcel at any time after December 31, 2013 if Marriott Owner intends to demolish the hotel at the Marriott Property, which option is exercised by notice from Marriott Owner to Mayo.
If the Services generate work products, then to the extent work products contain OCC Property or Marriott Property, including derivative works thereof created during performance under this Agreement, each party shall retain its ownership rights to its property in such work products.
In the case of the Marriott Property which is a Leasehold Interest, SPTMRT has good record and marketable title to such Leasehold Interest.
OCC shall not use, assign, convey, or otherwise transfer any Marriott Property in any manner other than as expressly instructed by Marriott in writing or as otherwise permitted by this Agreement.
In the case of each Marriott Property and Brookdale Property, the title thereto of SPTMRT or SPTBROOK, as applicable, is free and clear of all Liens and other matters affecting title, except for the Mortgages, the Assignments of Leases, Rents and Lease Guaranties, Permitted Encumbrances and such other matters as are set forth in the Title Insurance Policies.
OCC shall comply with the terms of any license or other agreement applicable to such Marriott Property of which it is given notice by Marriott.
Neither Borrower, SPTMRT, SPTBROOK nor any of Borrower's other Subsidiaries is in default under or with respect to any Contractual Obligation in any respect which could have a MAC with respect to any Marriott Property or Brookdale Property or a Material Adverse Effect.
All material assessments for public improvements that have been made against any Marriott Property or Brookdale Property have been paid or provided for, except that in the case of any assessments that are payable in installments, all installments due have been paid or provided for, subject to such exceptions which are not reasonably likely to have, in the aggregate, a MAC with respect to any Marriott Property or Brookdale Property.
Marriott Property shall include all customer and/or guest information, including names or other information relating to or traceable to the guest or customer, as well as hotel occupancy information, guest billing information not related to usage of the OCC Service, or other usage data and any other information about actions, services, events, or activities occurring in or requested from Marriott or its managed or franchised hotels.