Common use of Initial Upgrade of Leased Improvements Clause in Contracts

Initial Upgrade of Leased Improvements. Lessee desires to install, construct and complete the improvements, alterations, upgrades and refurbishments in the Leased Improvements (collectively, "Lessee's Work") necessary to qualify the Leased Improvements to operate under the Franchise Agreement as a "Homewood Suites" hotel. Pursuant to the terms of the Work Letter (the "Work Letter") attached hereto as Exhibit B, Lessee agrees to perform Lessee's Work; provided, however, Lessor shall pay the costs actually incurred by Lessee to perform Lessee's Work, subject to and in accordance with the terms and conditions of the Work Letter. Lessee shall pay all increased taxes and insurance on Lessee's Work or attributable thereto.

Initial Upgrade of Leased Improvements. Lessee desires to install, construct and complete the improvements, alterations, upgrades and refurbishments in the Leased Improvements (collectively, "Lessee's Work") necessary to qualify the Leased Improvements to operate under the Franchise Management Agreement as a "Homewood Sheraton [Suites]" hotel. Pursuant to the terms of the Work Letter (the "Work Letter") attached hereto as Exhibit B, Lessee agrees to perform Lessee's Work; provided, however, Lessor shall pay the costs actually incurred by Lessee to perform Lessee's Work, subject to and in accordance with the terms and conditions of the Work Letter. Lessee shall pay all increased taxes and insurance on Lessee's Work or attributable thereto.]

Initial Upgrade of Leased Improvements. Lessee desires to install, -------------------------------------- construct and complete the improvements, alterations, upgrades and refurbishments in the Leased Improvements (collectively, "Lessee's Work") necessary to qualify the Leased Improvements to operate under the Franchise Agreement as a "Homewood Suites" hotel. Pursuant to the terms of the Work Letter (the "Work Letter") attached hereto as Exhibit B, Lessee agrees to perform Lessee's Work; provided, however, Lessor shall pay the costs actually incurred by Lessee to perform Lessee's Work, subject to and in accordance with the terms and conditions of the Work Letter. Lessee shall pay all increased taxes and insurance on Lessee's Work or attributable thereto.

Initial Upgrade of Leased Improvements. Lessee desires to install, construct and complete the improvements, alterations, upgrades and refurbishments in the Leased Improvements (collectively, "Lessee's WorkLESSEE'S WORK") necessary to qualify the Leased Improvements to operate under the Franchise Management Agreement as a "Homewood Sheraton [Suites]" hotel. Pursuant to the terms of the Work Letter (the "Work LetterWORK LETTER") attached hereto as Exhibit EXHIBIT B, Lessee agrees to perform Lessee's Work; provided, however, Lessor shall pay the costs actually incurred by Lessee to perform Lessee's Work, subject to and in accordance with the terms and conditions of the Work Letter. Lessee shall pay all increased taxes and insurance on Lessee's Work or attributable thereto.]