Undeveloped Parcels definition

Undeveloped Parcels has the meaning set forth in Section 5.3(a).
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Examples of Undeveloped Parcels in a sentence

  • Licensor hereby approves the Undeveloped Parcels as sites for future New Properties, which shall be subject to Section 5.2.

  • Starwood hereby approves the Undeveloped Parcels and the Transferred Lodging Properties as sites for Licensed Vacation Ownership Properties; provided, however, that any New Properties developed on any such Undeveloped Parcel or at any such Transferred Lodging Property must be developed and operated in accordance with the terms and conditions of this Agreement, including, without limitation, Section 5.2 and the Standards and Policies related to construction and design for New Properties.

  • Licensor hereby approves the Undeveloped Parcels as sites for Projects; provided, however, that Projects developed on any such Undeveloped Parcel must be developed and operated in accordance with the terms and conditions of this Agreement, including, without limitation, Section 6.3 and the then-current Brand Standards related to construction and design for New Projects.

  • Licensee acknowledges that Licensor’s rights under Section 5.3.C are real estate rights with respect to the Undeveloped Parcels listed on Exhibit B-2.

  • Prior to negotiating a sale of any of the Undeveloped Parcels (or any part thereof) listed on Exhibit B-2 (or a Controlling interest in the owner(s) of such Undeveloped Parcels), Licensee will give Licensor written notice of its decision to sell the Undeveloped Parcel or interest, as applicable, and, during the period of thirty (30) day period after such notice Licensee negotiate in good faith with Licensor for a mutually satisfactory agreement for the purchase of the Undeveloped Parcel.

  • The GFA referenced in the preceding two (2) sentences shall be collectively referred to as the "Undeveloped Parcel's Development Rights" and shall be deemed to be appurtenant to the Undeveloped Parcel and benefit the owner thereof, including any assignee of such owner.

  • Licensor hereby approves the Undeveloped Parcels as sites for future New Properties, which shall be subject to Section 5.2. (b) If Licensee wishes to sell an Undeveloped Parcel (or any part thereof or rights therein) to any Person other than a Hilton Competitor, Licensee will notify Licensor, and for thirty (30) days after such notice, the Parties shall negotiate in good faith towards a sale agreement.