Resort Operator definition
Examples of Resort Operator in a sentence
Upon the disposition by the Resort Operator of all or substantially all of the assets comprising the Resort, Manager shall be entitled to remain the manager of the Operated Facilities in which this Agreement will remain in full force and effect except that each reference herein to the Resort Operator will be deemed to be a reference to such new resort operator.
On the Effective Date, Mountain Creek and/or a Resort Operator shall post a letter of credit in a form reasonably acceptable to the Vernon Parties in the amount of $250,000 to secure payment of all or a portion of the Minimum Payment due in 2020, 2021, 2022, and 2023 (the “Vernon Letter of Credit”).
Mountain Creek and/or a Resort Operator shall replenish the Vernon Letter of credit to $250,000 within 30 days of any such draw.
The Company shall provide prompt written notice to the Ski Purchaser of the occurrence of any Bankruptcy Event with respect to any Ski Resort Operator.
Notwithstanding anything to the contrary herein, Mountain Creek and a Resort Operator shall make a minimum payment to the Vernon Parties of $600,000 for years 2020, 2021, 2022 and 2023: and a minimum payment of $350,000 in years 2024 through the date on which the Sewer Agreement Obligations are paid in full (the “Minimum Payment”).
Such written notice shall identify the Ski Resort Operator that is the subject of the Bankruptcy Event and the Company Lease applicable to such Ski Resort Operator.
Such Ordinance shall apply to any person or entity that currently or in the future is a Resort Operator and operates Recreational Activities on the Land.
In the event the Resort Operator shall assume all obligations of HHP hereunder, HHP shall be relieved of any further obligation to TPC.
Resort Owner and Resort Operator shall be entitled to rely on any authority given by Residence Owner in accordance with this Agreement (whether verbal or in writing, as required hereunder) to allow any of Residence Owner’s family members, guests, invitees, tenants and/or Authorized Parties and/or any of their respective family members, staff, employees, agents to use the Resort and receive any Resort Services.
The foregoing remedies are intended and agreed to be the exclusive remedies in law or in equity available to Resort Operator for the breach of this Agreement by TPC and Resort Operator shall have no other remedy against TPC; provided, Resort Operator may bring successive actions for specific performance and petition any court for other additional equitable relief in the event of repeated breach of this Agreement by TPC.