Repairs Maintenance and Replacements Sample Clauses

Repairs Maintenance and Replacements. 8.01 Routine Repairs and Maintenance ------------------------------- Management Company shall maintain the Inns in good repair and condition and in conformity with applicable laws and regulations and shall make or cause to be made such routine maintenance, repairs and minor alterations, the cost of which can be expensed under generally accepted accounting principles, as it, from time to time, deems reasonably necessary for such purposes. The cost of such maintenance, repairs and alterations shall be paid from Gross Revenues and shall be treated as a Deduction in determining Operating Profit. The cost of non-routine repairs and maintenance, either to an Inn building or its FF&E, shall be paid for in the manner described in Sections 8.02 and 8.03. 8.02 FF&E Reserve ------------ A. Management Company shall establish an escrow reserve account for the Inns ("FF&E Reserve") in a bank designated by Owner and approved by Management Company to cover the cost of: 1. Replacements and renewals related solely to the Inns' FF&E; and 2. Certain routine repairs and maintenance to the Inns' buildings which are normally capitalized under generally accepted accounting principles, such as exterior and interior repainting, resurfacing building walls, floors, roofs and parking areas, and buying or leasing replacement vehicles, but which are not major repairs, alterations, improvements, renewals or replacements to such building's structure or to its mechanical, electrical, heating, ventilating, air conditioning, plumbing or vertical transportation systems, the cost of which are paid by Owner under Section 8.03 rather than from the FF&E Reserve. B. During the period of time from the Effective Date up to the end of the 1989 Fiscal Year, Management Company shall transfer into the FF&E Reserve an amount equal to one percent (1%) of Gross Revenues from the Inns for such period of time; during the 1990 Fiscal Year, Management Company shall transfer into the FF&E Reserve an amount equal to two percent (2%) of Gross Revenues from the Inns for such Fiscal Year; during Fiscal Year 1991, Management Company shall transfer into the FF&E Reserve an amount equal to three percent (3%) of Gross Revenues from the Inns for such Fiscal Year; during the 1992 Fiscal Year, Management Company shall transfer into the FF&E Reserve an amount equal to four percent (4%) of Gross Revenues from the Inns for such Fiscal Year; during the Fiscal Year 1993, Management Company shall transfer into the FF&E Reserve ...

Repairs Maintenance and Replacements. 7.01 Routine Repairs and Maintenance ------------------------------- Manager shall maintain each Inn in good repair and condition and in conformity with applicable laws and regulations and shall make or cause to be made such routine maintenance, repairs and minor alterations, the cost of which can be expensed under generally accepted accounting principles, as it, from time to time, deems necessary for such purposes. The cost of such maintenance, repairs and alterations shall be paid from Gross Revenues and shall be treated as a Deduction in determining Operating Profit.

Repairs Maintenance and Replacements. 5.01 Repairs and Maintenance to be Paid From Gross Revenues........................................13 5.02 Repairs, Maintenance and Equipment Replacements to be Paid From Reserve.......................13 5.03 Major Repairs Alterations, Improvements, Renewals, and Replacements to be Funded by Owner.....

Repairs Maintenance and Replacements. 7.01 Routine Repairs and Maintenance ------------------------------- Management Company shall maintain the Hotel in good repair and condition and in conformity with applicable laws and regulations and shall make or cause to be made such routine maintenance, repairs, and minor alterations, the cost of which can be expensed under generally accepted accounting principles, as it, from time to time, deems necessary for such purposes. The cost of such maintenance, repairs, and alterations shall be paid from Gross Revenues and shall be treated as a Deduction in determining Net House Profit. The cost of non-routine repairs and maintenance, either to the Hotel building or its fixtures, furniture, furnishings, and equipment ("FF&E") shall be paid for in the manner described in Sections 7.02 and 7.03.

Repairs Maintenance and Replacements. (a) Except for those items set forth in Section 8(b) which are the responsibility of Landlord, Tenant shall, at its own sole cost and expense, keep each and every portion of the Premises, including the Building and grounds, in good repair and condition, reasonable wear and tear and damage due to fire or other casualty excepted, at all times on and after commencement of the Term to and including the date of the termination of the Term, by lapse of time or otherwise, so as to preserve and protect the useful life, utility and value of the Premises, and in all events so as to preserve the effectiveness of any warranty relating thereto. Without limiting the foregoing, Tenant shall promptly and adequately repair, maintain and replace the electrical, sprinkler, plumbing and mechanical systems; the septic system and/or sewer system servicing the Building; utility connections; the parking lot, driveways and sidewalks on the Premises and any components thereof, and striping of the parking lot; lighting in and around the Premises; interior and exterior glass; glazing systems and through-wall flashing; water tightness of all walls; landscaping; and all damaged or broken fixtures and appurtenances. Tenant shall, upon Landlord's request, deliver to Landlord a written statement showing all removals and replacements of any such systems or components during the preceding calendar year, including manufacturers, model numbers, and serial numbers in order to establish a current list of what assets are owned by whom. Landlord may, upon five (5) business days prior notice, cause independent private inspectors, qualified in the specific discipline, to make inspections of any building component or part or segments thereof to determine Tenant's compliance under this Section 8(a). The cost of such inspection shall be borne by Landlord unless the inspection reveals more than DE MINIMIS non-compliance with this Section 8(a), in which case the cost of the inspection shall be borne by Tenant. Landlord shall endeavor to minimize the interference with Tenant's use of the Premises during any such inspection. (b) Landlord, at its sole cost and expense, shall be responsible for the repair, maintenance and, if necessary, replacement of the roof and roof membrane of the Building and the foundation, floor slab, exterior walls and interior support columns of the Building, PROVIDED that if any such repairs, maintenance or replacements are caused by or result from the negligence or willful miscon...

Repairs Maintenance and Replacements. 56 8.1 Routine Repairs and Maintenance .................................. 56 8.2 FF&E Reserve ..................................................... 56 8.3 Building Alterations, Improvements, Renewals, and Replacements ... 60

Repairs Maintenance and Replacements. 33 Section 8.01 Routine Repairs and Maintenance..............................................33 Section 8.02 FF&E Reserve.................................................................34 TABLE OF CONTENTS (continued) PAGE Section 8.03 Building Alterations, Improvements, Renewals, and Replacements.................................................................37 Section 8.04 Liens........................................................................38 Section 8.05 Ownership of Replacements....................................................38

Repairs Maintenance and Replacements. 8.01 Repairs and Maintenance ----------------------- Tenant shall, on Landlord's behalf and as Landlord's agent with respect to such obligation, maintain the Hotel in good repair and condition and in conformity with applicable laws and regulations and shall make or cause to be made such routine maintenance, repairs, and minor alterations, the cost of which can be expensed under generally accepted accounting principles, as it, from time to time, deems necessary for such purposes. The cost of such maintenance, repairs, and alterations shall be paid from Gross Revenues and shall be treated as a Deduction in determining Operating Profit.

Repairs Maintenance and Replacements. (a) Landlord’s Responsibilities. The following shall be the responsibility of Landlord, and Landlord shall maintain all of the following in good condition and repair: (i) Structural repairs and maintenance and repairs necessitated by structural disrepair or defects; (ii) Repair and maintenance of the exterior walls, roof, gutters, downspouts and the foundation of the Building in which the Premises are located. This shall not include maintenance of the operating condition of doors and windows or replacement of glass, nor maintenance of the store front; (iii) Maintenance and repair of the heating, ventilating, and air conditioning systems, plumbing system, electrical system, and sprinkler, fire and life safety systems, if any; (iv) Repair of interior walls, ceilings, doors, windows, floors and floor coverings when such repairs are made necessary because of failure of Landlord to keep the structure in repair as above provided in this Section 8(a); and (v) Repair of building standard lighting within the Premises, including without limitation replacement of tubes and ballasts, but excluding repair, maintenance or replacement of any specialty or above-standard lighting fixtures, tubes, ballasts and the like.