What is required for an Eligible Participant to assign their Crowne Plaza Participation Agreement?

According to the 2025 Crowne Plaza FDD, an Eligible Participant's ability to assign their rights and obligations under the Participation Agreement with AT&T depends on the specific circumstances. Generally, the Eligible Participant needs AT&T's prior written consent to assign the agreement, and this consent will not be unreasonably withheld or delayed. If an assignment occurs, the assigning party remains financially responsible for the performance of the obligations that were assigned.

However, there is an exception to this general rule. An Eligible Participant can assign their rights and obligations, in whole or relevant part, to an "Eligible Participant Affiliate" without obtaining AT&T's consent. In this case, the only requirement is that the Eligible Participant provides notice to AT&T of the assignment.

It's important to note that AT&T also has assignment rights. AT&T can assign its rights and obligations under the agreement, in whole or relevant part, to an AT&T Affiliate without the Eligible Participant's consent, provided they give notice to the Eligible Participant. These provisions outline the conditions under which both parties can transfer their responsibilities and benefits under the agreement, ensuring clarity and protecting the interests of all parties involved.