What is the purpose of Exhibit 1 in the IHG Direct Participation Agreement for Even Hotels?

According to the 2025 FDD, Exhibit 1 of the IHG Direct Participation Agreement for Even Hotels is where the order details are inserted. The IHG Direct Participation Agreement is made between Six Continents Hotels, Inc. and the Participating Property. IHG negotiates contracts with suppliers of goods and services through relationships with group purchasing organizations and other suppliers and distributors. IHG and the suppliers agree that IHG may provide these goods and services to Participating Properties through this Participation Agreement.

If the Even Hotels property is sold to a third party, the seller must make commercially reasonable efforts to ensure the purchaser understands and assumes the remaining term of the Participation Agreement for the services received under Exhibit 1. If the seller fails to notify the purchaser or the purchaser does not agree to assume the remaining term, the seller agrees to assume any charges and fees associated with early termination of the Participation Agreement, which will be no more than the prorated amount of fees remaining on the 36-month term of the Participation Agreement.

If an Even Hotels property leaves the IHG system and is no longer an IHG-branded property while the Participation Agreement is still in effect, the Participating Property is liable for payment to IHG of early termination fees (ETFs). The ETFs are equal to the number of months remaining on the term of the Participation Agreement multiplied by the monthly rate for the services. IHG may directly debit the amount of ETFs from the account associated with the Participating Property. The Participating Property is also responsible for the equipment in connection with the services not returned to the supplier after being de-flagged and will be billed for the fees owed on the equipment within sixty (60) days from the de-flagged date.