Manager Fund-up Cure Payments. If and to the extent that Manager pays amounts to Lessee pursuant to the Management Agreement in order to avoid termination of the Management Agreement by Lessee for Manager’s failure to meet certain performance hurdles described therein, such amounts shall be treated as additional Suite Revenues for purposes of the Percentage Rent calculation hereunder.
Appears in 23 contracts
Samples: Hotel Lease Agreement, Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Ten, Inc.)
Manager Fund-up Cure Payments. If and to the extent that Manager pays amounts to Lessee pursuant to the Management Agreement in order to avoid termination of the Management Agreement by Lessee for Manager’s 's failure to meet certain performance hurdles described therein, such amounts shall be treated as additional Suite Revenues for purposes of the Percentage Rent calculation hereunder.
Appears in 5 contracts
Samples: Master Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Hospitality Five Inc), Master Hotel Lease Agreement (Apple Suites Inc)
Manager Fund-up Cure Payments. If and to the extent that Manager ----------------------------- pays amounts to Lessee pursuant to the Management Agreement in order to avoid termination of the Management Agreement by Lessee for Manager’s 's failure to meet certain performance hurdles described therein, such amounts shall be treated as additional Suite Revenues for purposes of the Percentage Rent calculation hereunder.
Appears in 4 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Suites Inc), Hotel Lease Agreement (Apple Suites Inc)
Manager Fund-up Cure Payments. If and to the extent that Manager pays amounts to Lessee pursuant to Section 8.3 of the Management Agreement in order to avoid termination of the Management Agreement by Lessee for Manager’s 's failure to meet certain performance hurdles the requirements of (i) 12% cash-on-cash return to Lessor, or (ii) 90% of Star report yield index, as described therein, Lessee shall pay such amounts shall be treated to Lessor as additional Suite Revenues for purposes of the Percentage Rent calculation hereunder.
Appears in 2 contracts
Samples: Contract for Purchase and Sale of Hotels (Itt Corp /Nv/), Contract for Purchase and Sale of Hotels (Felcor Suite Hotels Inc)
Manager Fund-up Cure Payments. If and to the extent that Manager pays amounts to Lessee pursuant to the Management Agreement in order to avoid termination of the Management Agreement by Lessee for Manager’s 's failure to meet certain performance hurdles described therein, Lessee shall pay such amounts shall be treated to Lessor as additional Suite Revenues for purposes of the Percentage Rent calculation hereunder.
Appears in 1 contract
Samples: Omnibus Lease Amendment Agreement (Felcor Lodging Trust Inc)
