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holding shall at the request of any of the Acquiror Companies or the Target |
Company or any Related Entity reform such provisions to the extent necessary to |
cause them to contain reasonable limitations as to time, geographical area and |
scope of activity to be restrained and to give the maximum permissible effect |
to the intentions of the parties as set forth herein; and the court shall |
enforce such provisions as so reformed. |
If, notwithstanding the foregoing, any |
provision hereof is held to be illegal, invalid or unenforceable under present |
or future laws effective during the term hereof, such provision shall be fully |
severable; this Agreement shall be construed and enforced as if such illegal, |
invalid or unenforceable provision had never comprised a part hereof; and the |
remaining provisions hereof shall remain in full force and effect and shall not |
be affected by the illegal, invalid or enforceable provision or by its |
severance here from. |
Furthermore, in lieu of such illegal, invalid or |
unenforceable provision there shall be added automatically by the Acquiror and |
the Target Company as a part hereof a provision as similar in terms to such |
illegal, invalid or unenforceable provision as may be possible and be legal, |
valid and enforceable, and the parties hereby agree to such provision. |
7. |
Waiver of Breach. |
The waiver by any party to this Agreement |
of a breach of any provision of this Agreement shall not operate or be |
construed as a waiver of any subsequent breach by any party. |
8. |
Tax Reporting. |
The parties hereby expressly agree that the |
consideration given and received pursuant to this Agreement shall, for income |
tax purposes, be reported as amounts paid for a covenant not to compete. |
The |
parties acknowledge that Samples shall be solely responsible for the payment of |
any federal, state or local taxes arising from his receipt of the consideration |
under this Agreement. |
9. |
Notice. |
Any notice, request, instruction, document or other |
communication to be given hereunder by any party hereto to any other party |
hereto shall be in writing and validly given if (i) delivered personally, (ii) |
sent by telecopy, (iii) delivered by overnight express, or (iv) sent by |
registered or certified mail, postage prepaid, as follows: |
-6- |
<PAGE> 7 |
If to Acquiror or the Target Company: |
Wyndham Hotel Corporation/ClubHouse Hotels, Inc. |
2001 Bryan Street |
Suite 2300 |
Dallas, TX 75201 |
Attention: Legal Department |
Facsimile No. |
(214) 863-1262 |
If to Samples: |
Mr. Roland W. Samples |
11230 College Boulevard, Suite 130 |
Overland Park, Kansas 66210-2700 |
Facsimile No. |
(913) 451-6072 |
or at such other address for a party as shall be specified by like notice. |
Any |
notice which is delivered personally, or sent by telecopy or overnight express |
in the manner provided herein shall be deemed to have been duly given to the |
party to whom it is directed upon actual receipt by such party. |
Any notice |
which is addressed and mailed in the manner herein provided shall be |
conclusively presumed to have been given to the party to whom it is addressed |
at the close of business, local time of the recipient, on the third day after |
the day it is so placed in the mail. |
10. |
Entire Agreement. |
This Agreement contains the entire |
agreement of the parties hereto with respect to the matters covered hereby, and |
supersedes all prior negotiations and written, oral or implied representations, |
warranties, commitments, offers, contracts and understandings between the |
parties with respect to such matters. |
No modification or amendment of any of |
the terms, conditions or provisions in this Agreement may be made otherwise |
than by written agreement signed by the parties hereto, except as provided in |
Section 6 hereof. |
11. |
Successors and Assigns. |
The terms and conditions of this |
Agreement shall inure to the benefit of and be binding upon the parties hereto |
and their respective successors and permitted assigns; provided, however, that |
the obligations herein of Samples may not be delegated or assigned, and any |
purported delegation or assignment by Samples in violation of this Section 11 |
shall be null and void. |
Samples hereby acknowledges and agrees that the |
Acquiror Companies and Related Entities, and any other entity now or hereafter |
owning or operating any hotel operated under the "Wyndham," "ClubHouse" or |
"Homegate" brand, are intended beneficiaries of the provisions hereof, |
notwithstanding the fact that such entities may not be parties hereto, and |
shall be entitled to enforce the provisions hereof as if they were parties |