Common use of Owner to Bear All Expenses Clause in Contracts

Owner to Bear All Expenses. In performing its duties under any provision of this Agreement and in managing and operating the Project, Manager shall act solely for the account of and as the agent of Owner. All expenses incurred by Manager in performing its duties in accordance with this Agreement and in managing and operating the Project in accordance with this Agreement shall be borne exclusively by Owner. To the extent that the funds necessary therefor are not generated by the operation of the Project, they shall be promptly supplied by Owner in the manner provided in Section 3.3, above. Manager shall in no event be required to advance any of its funds or utilize Manager’s credit for the operation of the Project, nor shall Manager be required to incur any liability in connection therewith, unless Owner shall have furnished Manager with funds necessary for the discharge thereof.

Appears in 2 contracts

Samples: Management Agreement (Capital Lodging), Management Agreement (Capital Lodging)

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Owner to Bear All Expenses. In performing its duties under any provision of this Agreement and in managing and operating the Project, Manager shall act solely for the account of and as the agent of Owner. All expenses incurred by Manager in performing its duties in accordance with this Agreement and in managing and operating the Project in accordance with this Agreement shall be borne exclusively by Owner. To the extent that the funds necessary therefor are not generated by the operation of the Project, they shall be promptly supplied by Owner in the manner provided in Section 3.3, 3.3 above. Manager shall in no event be required to advance any of its funds or utilize Manager’s credit for the operation of the Project, nor shall Manager be required to incur any liability in connection therewith, unless Owner shall have furnished Manager with funds necessary for the discharge thereof.

Appears in 2 contracts

Samples: Management Agreement (Capital Lodging), Management Agreement (Capital Lodging)

Owner to Bear All Expenses. In performing its duties under ----------- -------------------------- any provision of this Agreement and in managing and operating the Project, Manager shall act solely for the account of and as the agent of Owner. All expenses incurred by Manager in accordance with Section 2.3 in performing its ----------- duties in accordance with this Agreement hereunder and in managing and operating the Project in accordance with this Agreement shall be borne exclusively by Owner. To the extent that the funds necessary therefor are not generated by the operation of the Project, they shall be promptly supplied by Owner in the manner provided in Section 3.3, 3.2 above. Manager shall in no event be ----------- required to advance any of its funds or utilize Manager’s 's credit for the operation of the Project, nor shall Manager be required to incur any liability in connection therewith, unless Owner shall have furnished Manager with funds necessary for the discharge thereof.

Appears in 1 contract

Samples: Management Assistance Agreement (Homegate Hospitality Inc)

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Owner to Bear All Expenses. In performing its duties under any provision of this Agreement and in managing and operating the Project, Manager shall act solely for the account of and as the agent of Owner. All expenses incurred by Manager in performing its duties in accordance with this Agreement hereunder and in managing and operating the Project in accordance with this Agreement shall be borne exclusively by Owner. To the extent that the funds necessary therefor are not generated by the operation of the Project, they shall be promptly supplied by Owner in the manner provided in Section 3.3, 3.3 above. Manager shall in no event be required to advance any of its funds or utilize Manager’s 's credit for the operation of the Project, nor shall Manager be required to incur any liability in connection therewith, unless Owner shall have furnished Manager with funds necessary for the discharge thereof.

Appears in 1 contract

Samples: Loan Agreement (Wyndham International Inc)

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