Common use of Operational Standards Clause in Contracts

Operational Standards. (a) The Management Parties will operate the Hotels at the expense of Lessee in accordance with and subject to the provisions of this Agreement and the Annual Business Plan. The Management Parties shall manage the Hotels in a manner normally associated with extended stay hotels of similar size, type, or usage in similar locations. The Management Parties shall use due care with respect to the management, maintenance, and protection of, and accounting for, Lessee’s and Owner’s assets. (b) The Management Parties shall manage and operate the Hotels and their businesses, services, and sales and shall exercise diligent efforts to do so at all times in a manner consistent with the standards imposed by the Trademark License Agreement, the Operating Lease, the requirements of all governmental regulations, and the requirements of this Agreement. (c) The Management Parties shall implement policies and practices to: (i) facilitate effective and efficient discharge of their obligations under this Agreement; and (ii) to create and enhance goodwill among existing and prospective guests and patrons.