Common use of General Conditions of Manager’s Insurance Program Clause in Contracts

General Conditions of Manager’s Insurance Program. Manager may obtain all insurance procured under Section 6.01.A (if Manager procures such insurance) and Section 6.01.B through blanket insurance programs, with shared aggregate coverage levels, sub-limits, deductibles, conditions and exclusions based on industry conditions and availability at commercially reasonable rates and terms. The blanket program may apply to multiple insured locations, these locations may incur losses for the same insured event and these losses may exhaust the coverage before all claims are resolved. Industry conditions may also lead to policy terms, conditions, sub-limits or exclusions resulting in coverage levels below the amounts required in Section 6.01.A and Section 6.01.B. These conditions and limitations are not a breach of Manager’s obligations. As of the Effective Date and the Execution Date, (a) the equity interests in Tenant are and will be owned 100% by HPT TRS Inc., a Maryland corporation; (b) the equity interests in HPT TRS Inc. are and will be owned 100% by Service Properties Trust, a Maryland real estate investment trust; and (c) the equity interests in Service Properties Trust are and will be publicly traded. AC Hotels by Marriott African Pride Hotels Aloft Hotels Autograph Collection Hotels Autograph Collection Residences Bulgari Hotels & Resorts Conference Center by Marriott Courtyard by Marriott Hotels Delta Hotels & Resorts EDITION Hotels EDITION Residences Element Hotels Fairfield by Marriott Fairfield Inn by Marriott Fairfield Inn & Suites by Marriott Four Points by Sheraton Hotels Gxxxxxx Hotels Grand Residences by Marriott Horizons by Marriott Club JW Marriott Hotels JW Marriott Hotels & Resorts JW Marriott Marquis Hotels JW Marriott Residences Le Méridien Hotels & Resorts Le Méridien Residences The Luxury Collection Hotels, Resorts & Suites The Luxury Collection Residence Club The Luxury Collection Residences Marriott Executive Apartments Marriott Hotels Marriott Hotels & Conference Centers Marriott Hotels & Resorts Marriott Marquis Hotels Marriott Residences Marriott Resorts Marriott Suites Hotels Marriott Vacation Club Moxy Hotels Protea Hotel Fire & Ice! Protea Hotels Renaissance ClubSport Hotels Renaissance Hotels

Appears in 2 contracts

Samples: Management Agreement (Service Properties Trust), Management Agreement (Service Properties Trust)

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General Conditions of Manager’s Insurance Program. Manager may obtain all insurance procured under Section 6.01.A (if Manager procures such insurance) and Section 6.01.B through blanket insurance programs, with shared aggregate coverage levels, sub-limits, deductibles, conditions and exclusions based on industry conditions and availability at commercially reasonable rates and terms. The blanket program may apply to multiple insured locations, these locations may incur losses for the same insured event and these losses may exhaust the coverage before all claims are resolved. Industry conditions may also lead to policy terms, conditions, sub-limits or exclusions resulting in coverage levels below the amounts required in Section 6.01.A and Section 6.01.B. These conditions and limitations are not a breach of Manager’s obligations. As of the Effective Date and the Execution Date, (a) the equity interests in Tenant are and will be owned 100% by HPT TRS Inc., a Maryland corporation; (b) the equity interests in HPT TRS Inc. are and will be owned 100% by Service Properties Trust, a Maryland real estate investment trust; and (c) the equity interests in Service Properties Trust are and will be publicly traded. AC Hotels by Marriott African Pride Hotels Aloft Hotels Autograph Collection Hotels Autograph Collection Residences Bulgari Hotels & Resorts Conference Center by Marriott Courtyard by Marriott Hotels Delta Hotels & Resorts EDITION Hotels EDITION Residences Element Hotels Fairfield by Marriott Fairfield Inn by Marriott Fairfield Inn & Suites by Marriott Four Points by Sheraton Hotels Gxxxxxx Hotels Grand Residences by Marriott Horizons by Marriott Club JW Marriott Hotels JW Marriott Hotels & Resorts JW Marriott Marquis Hotels JW Marriott Residences Le Méridien Hotels & Resorts Le Méridien Residences The Luxury Collection Hotels, Resorts & Suites The Luxury Collection Residence Club The Luxury Collection Residences Marriott Executive Apartments Marriott Hotels Marriott Hotels & Conference Centers Marriott Hotels & Resorts Marriott Marquis Hotels Marriott Residences Marriott Resorts Marriott Suites Hotels Marriott Vacation Club Moxy Hotels Protea Hotel Fire & Ice! Protea Hotels Renaissance ClubSport Hotels Renaissance Hotels Renaissance Residences Residence Inn by Marriott Hotels The Residences at The Rxxx-Xxxxxxx The Rxxx-Xxxxxxx Destination Club The Rxxx-Xxxxxxx Hotels & Resorts The Rxxx-Xxxxxxx Reserve The Rxxx-Xxxxxxx Residences Sheraton Grand Hotels & Resorts Sheraton Hotels & Resorts Sheraton Residences SpringHill Suites by Marriott Hotels St. Regis Hotels, Resorts & Suites St. Regis Residence Club St. Regis Residences TownePlace Suites by Marriott Hotels Tribute Portfolio Hotels & Resorts W Escape W Hotels W Residences Westin Hotels Westin Hotels & Resorts Westin Residences

Appears in 1 contract

Samples: Management Agreement (Service Properties Trust)

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General Conditions of Manager’s Insurance Program. Manager may obtain all insurance procured under Section 6.01.A (if Manager procures such insurance) and Section 6.01.B through blanket insurance programs, with shared aggregate coverage levels, sub-limits, deductibles, conditions and exclusions based on industry conditions and availability at commercially reasonable rates and terms. The blanket program may apply to multiple insured locations, these locations may incur losses for the same insured event and these losses may exhaust the coverage before all claims are resolved. Industry conditions may also lead to policy terms, conditions, sub-limits or exclusions resulting in coverage levels below the amounts required in Section 6.01.A and Section 6.01.B. These conditions and limitations are not a breach of Manager’s obligations. As of the Effective Date and the Execution Date, (a) the equity interests in MRP Tenant are and will be owned 100% by HPT TRS Inc., a Maryland corporation; (b) the equity interests in HPT TRS Inc. are and will be owned 100% by Service Properties Trust, a Maryland real estate investment trust; and (c) the equity interests in Service Properties Trust are and will be publicly traded. As of the Effective Date and the Execution Date, (a) the equity interests in CY Tenant are and will be owned 100% by HPT TRS Inc., a Maryland corporation; (b) the equity interests in HPT TRS Inc. are and will be owned 100% by Service Properties Trust, a Maryland real estate investment trust; and (c) the equity interests in Service Properties Trust are and will be publicly traded. AC Hotels by Marriott African Pride Hotels Aloft Hotels Autograph Collection Hotels Autograph Collection Residences Bulgari Hotels & Resorts Conference Center by Marriott Courtyard by Marriott Hotels Delta Hotels & Resorts EDITION Hotels EDITION Residences Element Hotels Fairfield by Marriott Fairfield Inn by Marriott Fairfield Inn & Suites by Marriott Four Points by Sheraton Hotels Gxxxxxx Hotels Grand Residences by Marriott Horizons by Marriott Club JW Marriott Hotels JW Marriott Hotels & Resorts JW Marriott Marquis Hotels JW Marriott Residences Le Méridien Hotels & Resorts Le Méridien Residences The Luxury Collection Hotels, Resorts & Suites The Luxury Collection Residence Club The Luxury Collection Residences Marriott Executive Apartments Marriott Hotels Marriott Hotels & Conference Centers Marriott Hotels & Resorts Marriott Marquis Hotels Marriott Residences Marriott Resorts Marriott Suites Hotels Marriott Vacation Club Moxy Hotels Protea Hotel Fire & Ice! Protea Hotels Renaissance ClubSport Hotels Renaissance Hotels

Appears in 1 contract

Samples: Management Agreement (Service Properties Trust)

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