Repairs and Equipment Reserve. A. Manager shall establish, on a consolidated basis (or on such other basis as may be reasonably required by lenders providing financing to Lessee or Owner with respect to the Inns), an escrow reserve account ("Repairs and Equipment Reserve" or the "Reserve"), in a bank or similar institution reasonably acceptable to both Manager and Lessee, to cover the cost of:
Appears in 2 contracts
Samples: Management Agreement (Apple Hospitality Two Inc), Management Agreement (Apple Hospitality Two Inc)
Repairs and Equipment Reserve. A. Manager shall establish, on a consolidated basis (or on such other basis as may be reasonably required by lenders providing financing to Lessee or Owner Lessor with respect to the Inns), an escrow reserve account ("Repairs and Equipment Reserve" or the "Reserve"), in a bank or similar institution reasonably acceptable to both Manager and Lessee, to cover the cost of:
Appears in 1 contract
Repairs and Equipment Reserve. A. Manager shall establish, on a consolidated basis (or on such other basis as may be reasonably required by lenders providing financing to Lessee or Owner with respect to the Inns), an escrow reserve account ("Repairs and Equipment Reserve" or the "Reserve"), in a bank or similar institution reasonably acceptable to both Manager and LesseeOwner, to cover the cost of:
Appears in 1 contract
Samples: Management Agreement (Marriott Residence Inn Ii Limited Partnership)
