“The property being leased or transferred [under this contract] will be part of a hotel (“Hotel”). The Hotel will be managed and operated by S&P Inc. (“the Hotel Operator”).
The Hotel Operator will operate and manage the Hotel under the terms of a management agreement between the Hotel Operator and Century Limitless Corporation, as the Owner (the “Hotel Management Agreement”). The Hotel Operator will operate the Hotel on behalf of the Owner under the name “Novotel Suites Manila at Acqua” (or such other name as agreed between the Owner and the Hotel Operator) and the use of the name Novotel Suite by the Hotel Operator for the purpose of managing the Hotel is only for the term of the Hotel Management Agreement.
The Hotel Management Agreement and the Hotel Operator’s role as operator of the Hotel should not be regarded in any way as a recommendation by the Hotel Operator or any of its affiliates, employee, officers or agents that this contract or the property of the Hotel represents a good investment. Purchasers should rely on their own enquiries and obtain their own advice. The Hotel Operator makes no representations or warranties, and accepts no responsibility or liability, in connection with the performance of the Hotel and its business or of the Owner or the likely performance of the transferee’s investment in the property.
The Hotel Operator has the right to terminate the Hotel Management Agreement in various circumstances, including if the Owner defaults in the performance of its obligations to the Hotel Operator under the Hotel Management Agreement. It is possible that the Hotel Operator will exercise its right to terminate the Hotel Management Agreement before this contract for the lease of the property is completed or settled.”
Authorized to sell by HLURB: TLTS # ENCRFO-15-03-006. Novotel Suites Manila is the sixth and final tower rising in Acqua Private Residences located at Coronado St., Bgy. Hulo, Mandaluyong City, Philippines. Owned and developed by Century Limitless Corporation, a member of the Century Properties Group.