Common use of Modification of the System and Standards Clause in Contracts

Modification of the System and Standards. Franchisor and its Affiliates may modify the System and Standards, and such modifications may include materially changing, adding or deleting elements of the System or the Standards. Franchisee agrees that modifications to the System may be made for all System Hotels or for any Category of System Hotels. Franchisor may allocate the costs of System modifications among System Hotels or any Category of System Hotels on a fair and consistent basis. Such costs may include development costs and a reasonable return on capital.

Appears in 3 contracts

Samples: Franchise Agreement (Moody National REIT II, Inc.), Franchise Agreement (Moody National REIT I, Inc.), Franchise Agreement (Moody National REIT II, Inc.)

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Modification of the System and Standards. Franchisor and its Affiliates may modify the System and Standards, and such modifications may include materially changing, adding or deleting elements of the System or the Standards. Franchisee agrees that modifications to the System may be made for all System Hotels or for any Category of System Hotels. Franchisor may allocate the costs of System modifications among System Hotels or any Category of System Hotels Hotels, and such allocation will be on a fair and consistent basis. Such costs may include development costs and a reasonable return on the reimbursement of capital invested in the development of such System modifications, together with costs incurred by Franchisor to finance such capital.

Appears in 1 contract

Samples: Franchise Agreement

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