Resort Management Agreement

By April 11, 2021 No Comments

1.20 “control” (including, with consequential meanings, the terms “controlled by” and “under common control”), is the direct or indirect possession of the power to direct or exercise, alone or in conjunction with others, the direction of the administration and policy of the controlled person, whether by the ownership of voting titles, contractually or otherwise. 21.16 Recourse. Notwithstanding the contrary provision of this agreement, the parties agree that no personal, share/partnership or commercial liability of any kind (including, but not limited to the payment of a judgment) to any of the elements, representatives and related businesses of the owner of the resort, holding companies or manager or a mortgage on any other amount for the payment of an amount which, under this agreement, or for the performance of an obligation under this agreement, or for the performance of an obligation under this agreement either to be payable for the performance of an obligation under this agreement, agreement (unless expressly stipulated in other written agreements). The trustee must only take care of the estate, interest and property of the owner of the resort and the holdings of the resort in order to obtain recourse from the trustee for the recovery of a judgment (or other legal proceedings) which requires payment of the money in the event of default by the owner of the resort. Station owners and holding companies agree that they are all jointly liable for payments and commitments (including, but not limited, to compensation obligations) due to managers under this agreement. 10.1 Use. The administrator may only use the station for the operation of a station and casino in the manner described in this Agreement. 2.7 Franchise or licensing agreement. The owner of the resort may choose to enter into a franchise or license agreement for all or part of the resort. In this case, unless the terms and conditions inadvertently increase the scope of the Manager`s services under this Agreement or increase the Manager`s liability (or liability), the Manager must comply with all the terms of such a franchise or licensing agreement in the operation of the station, including, but not limited to, the trademark standards required in such a franchise or license agreement. , the implementation of a real estate improvement plan and the implementation of common services between this area of the station, subject to the franchise or licensing agreement, and other areas of the station. Since and after the station`s membership in a franchised or licensed brand, (i) gross revenues continue to include all room revenues received by the Resort, including an increase in room revenues resulting from franchise or licensing agreements, and (ii) Operating costs include all expenses and expenses payable by the owner of the resort or resort in connection with such a franchise or license agreement.