Common use of Management and Operation of the Premises Clause in Contracts

Management and Operation of the Premises. Tenant shall be responsible for overall management and control of the Premises as a first class property. Tenant shall perform its obligations under this Section 6.3, or cause them to be performed, in a manner which demonstrates managerial skill, knowledge, judgment and practice which is standard for the management of Comparable Improvements located in the vicinity of the University. Tenant acknowledges Landlord’s concern that, because the Improvements are located in the University’s campus, they must be operated, maintained and managed in first class condition, and that Landlord, in agreeing to the terms of this Lease, is relying on the expertise, experience and reputation of Tenant, and its constituent partners, officers and directors, to cause the Improvements to be operated, maintained, and managed in said first class condition. Tenant shall perform or cause to be performed, at its expense, management services which are customarily provided at similar projects located in the vicinity of the University. These services shall include, but are not limited to, the following: (a) use of commercially reasonable best efforts to manage, operate and maintain the Premises; (b) supervision, hiring and discharge of all personnel employed at the Premises as employees of or under the exclusive control of Tenant, including use of reasonable care in the selection of such employees; (c) procurement and maintenance of adequate workers’ compensation insurance covering all of the aforesaid employees, preparation, maintenance, and filing of all legally required statements and reports pertaining to labor employed in or about the Premises, and provision of all bookkeeping and clerical services with respect to all personnel employed at the Premises; (d) payment of all [for hotels, transient occupancy taxes and other] taxes and charges applicable to the use of the Premises; (e) arrangement of contracts for electricity, gas, water, steam, telephone, cleaning, window cleaning, vermin extermination, elevator, escalator and boiler maintenance, air conditioning maintenance, master television antennae, electronic security and any other services as are customarily provided in similar projects located in the vicinity of the University and as Tenant deems advisable, and arrangement for purchase of all materials and supplies necessary to maintain and operate the Premises; (f) arrangement for the provision of services and facilities of any maintenance engineering department that Tenant or its affiliates may have in connection with the operation of all mechanical installations; (g) rendering of statements of income and expense on a monthly and yearly basis, and in connection therewith maintenance of customary [hospitality or other] industry reporting systems and provision of reports required by Tenant, this Lease and governmental agencies; and (h) if Tenant should hire a manager for the Premises, such manager shall be experienced in the management and operation of projects similar to the Improvements. No such agreement with a manager to provide the services described in this Section 6.3 shall release Tenant from any obligation which Tenant has under this Lease.

Management and Operation of the Premises. Tenant shall be responsible for overall management and control of the Premises as a first class property. Tenant shall perform its obligations under this Section 6.3, or cause them to be performed, in a manner which demonstrates managerial skill, knowledge, judgment and practice which is standard for the management of Comparable Improvements located in the vicinity of the University. Tenant acknowledges Landlord’s concern that, because the Improvements are located in the University’s campus, they must be operated, maintained and managed in first class condition, and that Landlord, in agreeing to the terms of this Lease, is relying on the expertise, experience and reputation of Tenant, and its constituent partners, officers and directors, to cause the Improvements to be operated, maintained, and managed in said first class condition. Tenant shall perform or cause to be performed, at its expense, management services which are customarily provided at similar projects located in the vicinity of the University. These The property management services shall include, but are not limited to, the following: (a) use of commercially reasonable best efforts to manage, operate and maintain the Premises; (b) supervision, hiring and discharge of all personnel employed at the Premises as employees of or under the exclusive control of Tenant, including use of reasonable care in the selection of such employees; (c) procurement and maintenance of adequate workers’ compensation insurance covering all of the aforesaid employees, preparation, maintenance, and filing of all legally required statements and reports pertaining to labor employed in or about the Premises, and provision of all bookkeeping and clerical services with respect to all personnel employed at the Premises; (d) payment of all [for hotels, transient occupancy taxes and other] taxes and charges applicable to the use of the Premises; (e) arrangement of contracts for electricity, gas, water, steam, telephone, cleaning, window cleaning, vermin extermination, elevator, escalator and boiler maintenance, air conditioning maintenance, master television antennae, electronic security and any other services as are customarily provided in similar projects located in the vicinity of the University and as Tenant deems advisable, and arrangement for purchase of all materials and supplies necessary to maintain and operate the Premises; (f) arrangement for the provision of services and facilities of any maintenance engineering department that Tenant or its affiliates may have in connection with the operation of all mechanical installations; (g) rendering of statements of income and expense on a monthly and yearly basis, and in connection therewith maintenance of customary [hospitality or other] industry reporting systems and provision of reports required by Tenant, this Lease and governmental agencies; and (h) if Tenant should hire a manager for the Premises, such manager shall be experienced in the management and operation of projects similar to the Improvements. No such agreement with a manager to provide the services described in this Section 6.3 shall release Tenant from any obligation which Tenant has under this Lease.

Management and Operation of the Premises. Tenant shall be responsible for overall management and control of the Premises as a first class property. Tenant shall perform its obligations under this Section 6.3, or cause them to be performed, in a manner which demonstrates managerial skill, knowledge, judgment and practice which is standard for the management of Comparable Improvements located in the vicinity of the University. Tenant acknowledges Landlord’s concern that, because the Improvements are located in the University’s campus, they must be operated, maintained and managed in first class condition, and that Landlord, in agreeing to the terms of this Lease, is relying on the expertise, experience and reputation of Tenant, and its constituent partners, officers and directors, to cause the Improvements to be operated, maintained, and managed in said first class condition. Tenant shall perform or cause to be performed, at its expense, management services which are customarily provided at similar projects located in the vicinity of the University. These The property management services shall include, but are not limited to, the following: (a) use of commercially reasonable best efforts to manage, operate and maintain the Premises; (b) supervision, hiring and discharge of all personnel employed at the Premises as employees of or under the exclusive control of Tenant, including use of reasonable care in the selection of such employees; (c) procurement and maintenance of adequate workers’ compensation insurance covering all of the aforesaid employees, preparation, maintenance, and filing of all legally required statements and reports pertaining to labor employed in or about the Premises, and provision of all bookkeeping and clerical services with respect to all personnel employed at the Premises; (d) payment of all [for hotels, transient occupancy taxes and other] taxes and charges applicable to the use of the Premises; (e) arrangement of contracts for electricity, gas, water, steam, telephone, cleaning, window cleaning, vermin extermination, elevator, escalator and boiler maintenance, air conditioning maintenance, master television antennae, electronic security and any other services as are customarily provided in similar projects located in the vicinity of the University and as Tenant deems advisable, and arrangement for purchase of all materials and supplies necessary to maintain and operate the Premises; (f) arrangement for the provision of services and facilities of any maintenance engineering department that Tenant or its affiliates may have in connection with the operation of all mechanical installations; (g) rendering of statements of income and expense on a monthly and yearly basis, and in connection therewith maintenance of customary [hospitality or other] industry reporting systems and provision of reports required by Tenant, this Lease and governmental agencies; and (h) if Tenant should hire a manager for the Premises, such manager shall be experienced in the management and operation of projects similar to the Improvements. No such agreement with a manager to provide the services described in this Section 6.3 shall release Tenant from any obligation which Tenant has under this Lease.