Withholding of Consent. Even if the conditions in Section 17.4.A. are satisfied, Franchisor may withhold its consent to a Transfer under this Section 17.4 if: 1. Franchisor determines that the proposed transferee’s debt service or overall financial status will not permit the Hotel to be operated in compliance with the Standards; or 2. an uncured breach or default of a Marriott Agreement exists, and there is no agreement to cure such breach or default in connection with the Transfer; or 3. the Hotel is not in good standing under the Quality Assurance Program.
Appears in 4 contracts
Sources: Franchise Agreement (Moody National REIT II, Inc.), Franchise Agreement (Moody National REIT I, Inc.), Franchise Agreement (Moody National REIT II, Inc.)