Operational Insurance. Subject to Owner’s prior approval and the provisions of Section 6.05, Manager shall, commencing with the Effective Date and for the duration of the Term, procure and maintain, using funds deducted from Gross Revenues in determining Operating Profit, with insurance companies approved by Owner the following insurance and/or such other insurance as may be approved or required by Owner:
Appears in 10 contracts
Samples: Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Eight, Inc.), Management Agreement (Apple REIT Nine, Inc.)
Operational Insurance. Subject to Owner’s prior approval approval, which shall not be unreasonably withheld or delayed, and the provisions of Section 6.05, Manager shall, commencing with the Effective Date and for the duration of the Term, procure and maintain, using funds deducted from Gross Revenues in determining Operating Profit, with insurance companies approved by Owner the following insurance and/or such other insurance as may be required by the Franchise Agreement or approved or required by Owner:
Appears in 6 contracts
Samples: Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Eight, Inc.)
Operational Insurance. Subject to Owner’s prior approval and the provisions of Section 6.05, Manager shall, commencing with the Effective Date and for the duration of the Term, procure and maintain, using funds deducted from Gross Revenues as a Deduction in determining Operating Profit, with insurance companies approved by Owner the following insurance and/or such other insurance as may be approved or required by Owner:
Appears in 2 contracts
Samples: Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Ten, Inc.)
Operational Insurance. Subject to Owner’s prior approval and the provisions of Section 6.05, Manager shall, commencing with the Effective Date and for the duration of the Term, procure and maintain, using funds deducted from Gross Revenues as a Deduction in determining Operating Profit, with insurance companies approved by Owner the following insurance and/or such other insurance as may be approved or required by Owner:
Appears in 2 contracts
Samples: Management Agreement (Apple REIT Seven, Inc.), Management Agreement (Apple REIT Seven, Inc.)