FRANCHISE AGREEMENT HAMPTON INN AUSTIN/AIRPORT AREA SOUTH (AUSTIN, TEXAS)Franchise Agreement This Franchise Agreement • March 19th, 2014 • Moody National REIT I, Inc. • Real estate investment trusts • New York
must have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for "under construction" set out in the Addendum. "Construction Work" means all necessary action for the development, construction, renovation, furnishing, equipping, acquisition of supplies and implementation of the Plans and Designs for the Hotel. "Construction Work Completion Date" means the date set out in the Addendum, if applicable, by which you must complete construction of the Hotel. "Control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of an entity, or of the power to veto major policy decisions of an entity, whether through the ownership of voting securities, by contract, or otherwise. "Controlling Affiliate' means an Affiliate that directly or indirectly Controls the Hotel and/or Controls the entity that Controls the Hotel. "Designs" means your plans, layouts, specifications, drawings and d
