Common use of Operator’s Rights to Perform Clause in Contracts

Operator’s Rights to Perform. If Lessee shall fail to make any payment or to perform any act required of Lessee pursuant to this Agreement, Operator may (but shall not be obligated to), without further notice to, or demand upon, Lessee and without waiving or releasing Lessee from any obligations under this Agreement, make such payment (either with its own funds or with funds withdrawn for such purpose from the Operating Accounts) or perform such act. All sums so paid by Operator from its own funds and all necessary incidental costs and expenses incurred by Operator in connection with the performance of any such act, together with interest thereon at the Default Rate from the date of making such expenditure by Operator, shall be payable to Operator on demand.

Appears in 3 contracts

Samples: Hotel Management Agreement (Condor Hospitality Trust, Inc.), Hotel Management Agreement (Condor Hospitality Trust, Inc.), Hotel Management Agreement (Condor Hospitality Trust, Inc.)

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Operator’s Rights to Perform. (a) If Lessee Owner shall fail to make any payment or to perform any act required of Lessee Owner pursuant to this Agreement, Operator may (but shall not be obligated to), without further notice to, or demand upon, Lessee Owner and without waiving or releasing Lessee Owner from any obligations under this Agreement, make such payment (either with its own funds or with funds withdrawn for such purpose from the Operating AccountsAccounts or the Reserve) or perform such act. All sums so paid by Operator from its own funds and all necessary incidental costs and expenses incurred by Operator in connection with the performance of any such act, together with interest thereon at the Default Rate from the date of making such expenditure by Operator, shall be payable to Operator on demand.

Appears in 2 contracts

Samples: Management Agreement, Share Exchange Implementation Agreement (Playa Hotels & Resorts N.V.)

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