Tag-Along Right A right set out in the Articles which entitles minority shareholders to participate in a sale of the company’s shares by the majority shareholders on the same terms. See also Drag-Along Right. ... read more
Term Sheet A non-binding short agreement or letter which sets out the key terms on which an investor will agree to make an investment. A Term Sheet forms the basis from which longer binding legal agreements are prepared and agreed.  Sometimes al... read more
Total Operating Revenue Total Operating Revenue from all sources including Rooms, F&B, Other Operated Departments and Miscellaneous Income, but excluding Non-Operating Income. ... read more
Total RevPAR or TrevPAR Total Operating Revenue per Available Room.  This is distinct from RevPAR which is based only on Rooms Revenue. ... read more
TrevPOR Total Operating Expenses per occupied room. ... read more
TSA Technical Services Agreement – an agreement between an Owner and an Operator for services to be provided to the Owner during the development phase. ... read more

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