Common use of Exclusions from Total Operating Revenues Clause in Contracts

Exclusions from Total Operating Revenues. For purposes of calculating the fees payable pursuant to this Agreement, Total Operating Revenues shall not include any of the following: (a) excise, sales, use and other similar taxes (including room taxes) or similar charges which are required by Applicable Laws to be collected directly from patrons or guests or as part of the sale price of any goods or services or displays and which must be remitted to a governmental authority; (b) bad debts arising from Total Operating Revenues, provided that any recovered bad debts shall again become part of Total Operating Revenues in the Fiscal Year in which they are recovered; (c) gratuities, service charges or other similar receipts collected for payment to and paid to Hotel Employees and complimentary food and beverage bills for Hotel Employees (to the extent that the complimentary food and beverage expenditures do not exceed the amount set forth in Operating Budget unless Owner’s consent is received with respect to such excess amounts) the and guests; (d) revenue, income and proceeds of sales of tenants, licensees and concessionaires; (e) revenues, including gains or losses arising from the sale or other disposition of capital assets, including, without limitation, FF&E no longer required for the operation of the Hotel; (f) proceeds or awards arising from a taking or condemnation of capital property; (g) receipts or credits for settlement of claims for loss or theft of or damage to personal property or furnishings, or any recoveries relating to a breach of warranty or guaranty, excluding, however, those amounts that are compensation for items that would otherwise be included in Total Operating Revenues hereunder; (h) proceeds from any insurance policy other than the net proceeds actually received by Owner of use and occupancy or business interruption insurance; (i) receipts of a capital nature, including any financing of the Hotel; (j) Existing Lease and License Arrangements;

Exclusions from Total Operating Revenues. For purposes of calculating the fees Incentive Fee payable pursuant to this Agreement, Total Operating Revenues shall not include any of the following: (a) excise, sales, use and other similar taxes (including room taxes) or similar charges which are required by Applicable Laws to be collected directly from patrons or guests or as part of the sale price of any goods or services or displays and which must be remitted to a governmental authority; (b) bad debts arising from Total Operating Revenues, provided that any recovered bad debts shall again become part of Total Operating Revenues in the Fiscal Year in which they are recovered; (c) gratuities, service charges or other similar receipts collected for payment to and paid to Hotel Employees and complimentary food and beverage bills for Hotel Employees (to the extent that the complimentary food and beverage expenditures do not exceed the amount set forth in Operating Budget unless Owner’s consent is received with respect to such excess amounts) the and guests; (d) revenue, income and proceeds of sales of tenants, licensees and concessionaires; (e) revenues, including gains or losses arising from the sale or other disposition of capital assets, including, without limitation, FF&E no longer required for the operation of the Hotel; (f) proceeds or awards arising from a taking or condemnation of capital property; (g) receipts or credits for settlement of claims for loss or theft of or damage to personal property or furnishings, or any recoveries relating to a breach of warranty or guaranty, excluding, however, those amounts that are compensation for items that would otherwise be included in Total Operating Revenues hereunder; (h) proceeds from any insurance policy other than the net proceeds actually received by Owner of use and occupancy or business interruption insurance; (i) receipts of a capital nature, including any financing of the Hotel; (j) Existing Lease and License Arrangements;