Hotel Management Agreement Draft Page 13
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171.
Either party shall have the right to terminate this Agreement by
giving ___ year(s) written Notice after the expiry of the minimum
Lock-in period as abovementioned.
2.
It is mutually agreed between the Parties that in the event that ABC
intends to dilute or sell or transfer or assign its right or any part
thereof in the Hotel and / or under this Agreement, he shall inform
the Operator.
3.
Notwithstanding anything to the contrary contained in this
Agreement, either Party shall be entitled to remedy any default of
the other under this Agreement with reasonable Notice to the other
or without notice in the event of any emergency or apprehended
emergency, without prejudice to any rights under this Agreement
and the Party so remedying such default shall be repaid on demand
by the other for the cost of remedying such default, together with
interest on such cost from the date of incurring such cost at the
Interest Rate.
4.
If this Agreement is terminated, the Operator shall be entitled, in
addition to any rights or remedies available to it at law or in equity,
to all sums, charges, and fees which it is entitled to receive under
this Agreement.
5.
Notwithstanding anything contained in this Agreement, the
termination of this Agreement shall not prejudice any cause of
action, claim or right of either Party against the other, accrued or to
accrue, on account of any default by the other of its obligations
under this Agreement, or arising as a result of the termination of
this Agreement and any term, covenant, condition or provision of
this Agreement referable thereto shall not lapse, but shall survive
the termination of this Agreement.
PART XIII
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