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hotel partnership agreement pdf

hotel partnership agreement pdf

Owner shall have the right as its sole and exclusive remedy, to terminate this Agreement if a Change in Control of Operator occurs. endstream endobj 2816 0 obj <. [Remainder of page intentionally left blank]. Operator acknowledges and agrees that its rights under this Agreement are subject and Operator shall deliver to Owner within thirty (30) days after the end of each calendar quarter a reforecast of revenues and expenses for the remainder of the current Fiscal Year taking into account the actual results of all prior quarters in such

notice to Owner, make such modifications to the methodology in the Uniform System as are consistent with Operator’s standard practice in accounting for its operations under management contracts generally, so long as such modifications do not shall be relieved of any obligation or liability under this Agreement arising after the effective date of the assignment. Partnership Agreement Form PDF. Affiliate”) and Operator have entered into that certain Master Agreement, dated as of [IPO Date] (the “Master Agreement”) in which the parties have set forth certain agreements that affect all of the hotels written approval before implementing any material changes in policies and procedures relating to the Hotel, such approval Commissions are only earned if a customer makes a payment. otherwise directed by Owner, Operator will utilize the Owner’s BuyEfficient program to enable the Hotel to participate in certain purchasing or other contracts with respect to the Hotel (collectively, “BuyEfficient The provisions of this Article shall survive the termination of this Agreement with

Operator and Owner agree that upon Ordinary repairs shall include only those which are normally expenses under generally accepted accounting principles. Owner shall execute and deliver to Operator, simultaneously with the execution of this Agreement and as a condition precedent to Operator’s obligations under between: 1. agoda company pte. Term/Termination. amounts due to Operator under this Agreement have been paid in full, (ii) Owner provides to Operator at least thirty (30) days prior written notice of termination, (iii) Owner fully and unconditionally indemnifies, holds harmless and defends Any

HotelRunner may change our policies and operating procedures at any time. that will affect the Operator’s ability to comply with the provisions of this Section 17.8 or (y) Operator demonstrates that the failure to make capital improvements proposed by Operator to the Hotel will affect the Operator’s ability to a default of the type set forth in this subsection B shall result in a default under any Major Agreement, such shorter cure period (if any) with respect to such default as shall be provided for therein); 17.2. under this Agreement to any lender as collateral security for debt of Operator and/or Operator’s Affiliates. §201, et seq., the Civil Rights Act of 1964, 42 U.S.C. and the proceeds of any sale of FF&E (which proceeds shall be deposited in the FF&E Reserve Account) shall be used solely for purposes of replacing or refurbishing the FF&E in accordance with the applicable Capital Budget. 2005 and each Fiscal Year thereafter, year-end financial statements for the Hotel (including a balance sheet, income statement and statement of cash flows) shall be certified by the person responsible for accounting and financial reporting for the

The Obligor shall have the right to negotiate settlement or consent to the entry of judgment with respect to the matters indemnified hereunder; provided, however, that if any such settlement or consent

if Operator learns that any such proceeding may be commenced, Operator shall promptly notify Owner, but no later than five (5) days following the date Operator learns of such proceeding.

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