Computer Software and Equipment. All “Software” (meaning all computer software and accompanying documentation, other than software which is commercially available, which are used by Management Company in connection with the property management system, any reservation system, and/or any future electronic systems developed by Management Company for use in the Hotel) is and shall remain the exclusive property of Management Company or any one of its Affiliates (or the licensor of such Software, as the case may be), and TRS shall have no right to use, or to copy, any Software. Upon Termination, Management Company shall have the right to remove from the Hotel, without compensation to TRS, all Software, and any computer equipment which is utilized as part of a centralized property management system or is otherwise considered proprietary by Management Company. If any of such computer equipment is owned by TRS, Management Company shall reimburse TRS for previous expenditures made by TRS for the purchase of such equipment, subject to a reasonable allowance for depreciation.
Appears in 5 contracts
Samples: Management Agreement (American Realty Capital Hospitality Trust, Inc.), Management Agreement (American Realty Capital Hospitality Trust, Inc.), Management Agreement (American Realty Capital Hospitality Trust, Inc.)
Computer Software and Equipment. All “Software” (meaning all computer software and accompanying documentation, other than software which is commercially available, which are used by Management Company in connection with the property management system, any reservation system, and/or any future electronic systems developed by Management Company for use in the Hotel) is and shall remain the exclusive property of Management Company or any one of its Affiliates (or the licensor of such Software, as the case may be), and TRS Owner shall have no right to use, or to copy, any Software. Upon Termination, Management Company shall have the right to remove from the Hotel, without compensation to TRSOwner, all Software, and any computer equipment which is utilized as part of a centralized property management system or is otherwise considered proprietary by Management Company. If any of such computer equipment is owned by TRSOwner, Management Company shall reimburse TRS Owner for previous expenditures made by TRS Owner for the purchase of such equipment, subject to a reasonable allowance for depreciation.
Appears in 1 contract
Samples: Purchase and Sale Agreement (American Realty Capital Hospitality Trust, Inc.)
