NEW HOTELS. Lessee acknowledges and agrees that any Hotel owned or leased by Lessee or its designees from any Affiliates of the Partnership (including the Landlords) from and after the Effective Date may at the election of the parties to the Mutual Exclusivity Agreement either be subject to the terms and provisions of this Agreement effective upon execution of an addendum to this Agreement (the “Addendum”) in the form of Exhibit “A” attached hereto, or pursuant to a management agreement in form and substance substantially similar to the terms of this Agreement with either Manager or an Affiliate of Manager; provided that there does not then exist an uncured Event of Default by Manager under this Agreement and the independent director approval requirements under the Mutual Exclusivity Agreement have been satisfied. Effective upon execution of said Addendum, all terms and conditions of this Agreement shall be deemed amended to include and apply to such Hotel(s) as provided in the Addendum. Notwithstanding anything to the contrary contained in this Agreement, a Lessee shall have no liability under this Agreement unless and until Lessee is or hereafter becomes a New Lessee (as that term is defined in a fully executed Addendum) with respect to a Hotel.
NEW HOTELS. 33.01 The parties hereto acknowledge the existence of the Memorandum of Agreement between Starwood Hotels and Resorts Worldwide Inc. And UNITE HERE Local 75 which concerns the subject of new hotels and which was negotiated with Starwood Hotels and Resorts Worldwide Inc. in partial consideration for other terms and conditions of this Agreement. The Memorandum of Agreement, attached or appended to the collective agreement is incorporated by reference into the collective agreement.
NEW HOTELS. The parties hereto acknowledge the existence of the Memorandum of Agreement between Hilton Hotels Corporation and UNITE-HERE, Local 75 which concerns the subject of new hotels and which was negotiated with Hilton Hotels Corporation, in partial consideration for other terms and conditions of this Agreement. The Memorandum of Agreement, attached or appended to the collective agreement is incorporated by reference into the collective agreement.
NEW HOTELS. Lessee acknowledges and agrees that any Hotel owned or leased by Lessee or its designees from any Affiliates of the Partnership (including the Landlord) from and after the Effective Date may become subject to the terms and provisions of this Agreement effective upon execution of an addendum to this Agreement (the “Addendum”) in the form of Exhibit “A” attached hereto, or pursuant to a management agreement in form and substance substantially similar to the terms of this Agreement with either Manager or an Affiliate of Manager (provided said Affiliate constitutes an Eligible Independent Contractor). Effective upon execution of said Addendum, all terms and conditions of this Agreement shall be deemed amended to include and apply to such Hotel as provided in the Addendum. Notwithstanding anything to the contrary contained in this Agreement, a Lessee shall have no liability under this Agreement unless and until Lessee is or hereafter becomes a New Lessee (as that term is defined in a fully executed Addendum) with respect to a Hotel. This Agreement will be construed as a separate and independent Agreement with respect to each Hotel. Any affiliate of Stirling TRS Corporation may become party to this Agreement with respect to a Hotel by executing and delivering an Addendum relating to such Hotel as a New Lessee, and in such event, it will not be a condition to its effectiveness that Stirling TRS Corporation or any other of its affiliates consent, join or otherwise be party to such Addendum.
NEW HOTELS. Approximately 206,000 square feet of new limited service hotels (the "Hotels"), expected to be three (3) new hotels with national flags and the scope and quality of which shall be consistent with the current service provided by the Hampton Inn hotel located at 00000 Xxxxxxx Xxxxxxxx Road in the City as of the Effective Date, or other comparable national flag hotel brand including, by way of illustration, La Quinta Inn & Suites, Holiday Inn Express, Hilton Garden Inn, Fairfield Inn, or Courtyard by Marriott. The Parties hereby understand and agree that no part of the Public Financing shall be used to directly reimburse any costs or expenses related to the development and construction of the Hotels in the Amended Project. (e) (f)Office Space. Approximately 80,000 square feet of new Class A office space (the "Office Space").
