Approved Hotel Flag definition
Examples of Approved Hotel Flag in a sentence
Subject to and as otherwise provided for in Section 3.10 to Exhibit A of the Note, Mortgagor shall, throughout the Loan term, operate and brand the hotel Property as (1) a “Westin” hotel (the “Westin Flag”) pursuant to the terms of the Management Agreement or (2) an Approved Hotel Flag.
Within thirty (30) days of notice of such termination, the City shall reimburse the Developer for all of its costs and expenses incurred (including, but not limited to, any Project Costs and the reasonable fees of all attorneys and design professionals engaged by the Developer and any franchise fees paid to any Approved Hotel Flag franchisor) prior to the date of termination in furtherance of the performance of the Developer’s obligations under this Agreement.
If (A) Manager, Mortgagor, or Operating Tenant fails to operate and brand the hotel as a Westin Flag or an Approved Hotel Flag in accordance with the terms of Section 5.3(d) of this Mortgage and (B) fails to comply with Section 3.10 of Exhibit A to the Note.