Common use of Routine Repairs and Maintenance Clause in Contracts

Routine Repairs and Maintenance. From and after the Management Commencement Date, Management Company shall maintain the Hotel in good repair and condition and in conformity with applicable laws and regulations and in accordance with the Franchisor’s standards for the operation of the Hotel, 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 Management Company, 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 an Operating Expense in determining Operating 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 8.02 and 8.03.

Appears in 6 contracts

Samples: Purchase and Sale Agreement (American Realty Capital Hospitality Trust, Inc.), Management Agreement (American Realty Capital Hospitality Trust, Inc.), Management Agreement (American Realty Capital Hospitality Trust, Inc.)

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Routine Repairs and Maintenance. From and after the Management Commencement Date, Management Company shall maintain the Hotel in good repair and condition and in conformity with applicable laws and regulations and in accordance with the Franchisor’s standards for the operation of the Hotel, Hotel and shall make or cause to be made such routine maintenance, repairs, repairs and minor alterations, the cost of which can be expensed under generally accepted accounting principlesGAAP, as Management Company, from time to time, deems necessary for such purposes. The cost of such maintenance, repairs, repairs and alterations shall be paid from Gross Revenues and shall be treated as an Operating Expense a Deduction in determining Operating Profit. The cost of non-routine repairs and maintenance, either to the Hotel building or its fixtures, furniture, furnishings, furnishings and equipment (“FF&E”), shall be paid for in the manner described in Sections 8.02 and 8.03.

Appears in 1 contract

Samples: Management Agreement (Highland Hospitality Corp)

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Routine Repairs and Maintenance. From and after the Management Commencement Date, Management Company shall maintain the Hotel in good repair and condition and in conformity with applicable laws and regulations regulations, any Loan Documents, and in accordance with the Franchisor’s standards for the operation of the Hotel, and shall make or cause to be made such routine maintenance, repairs, repairs and minor alterations, the cost of which can be expensed under generally accepted accounting principlesGAAP as applied to Master Tenant, as Management Company, from time to time, deems necessary for such purposes. The cost of such maintenance, repairs, repairs and alterations shall be paid from Gross Revenues and shall be treated as an Operating Expense a Deduction in determining Operating Profit. The cost of non-routine repairs and maintenance, either to the Hotel building or its fixtures, furniture, furnishings, furnishings and equipment (“FF&E”), shall be paid for in the manner described in Sections 8.02 and 8.03.

Appears in 1 contract

Samples: Hotel Management Agreement (KBS Strategic Opportunity REIT II, Inc.)

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