Common use of Satisfaction of Obligations Clause in Contracts

Satisfaction of Obligations. Manager agrees to pay, when due, all amounts due under any equipment leases and all other contracts and agreements relating to the operation or maintenance of the Hotel, and, if requested by Owner, any Mortgage Documents relating to the loan from Owner's Leasehold Mortgagee ("Owner's Mortgage Documents"), but solely from and to the extent that funds are available in the Bank Account(s), and to comply, at Owner's cost and expense, with all other covenants and obligations contained in the equipment leases and all utility contracts, concession agreements, and service and maintenance contracts, and, if requested by Owner, Owner's Mortgage Documents to the extent that compliance therewith is within the reasonable control of Manager by reason of its management and operation of the Hotel pursuant to this Agreement; provided, however, Manager shall have no obligation to comply with any provisions in the Mortgage Documents that conflict with its rights and obligations under this Agreement. Manager shall have no obligation to perform or comply with any obligations of (i) Fee Owner or Owner under the Percentage Lease or (ii) Fee Owner under any Mortgage Documents relating to the loan from Fee Owner's Mortgagee (other than any right to approve or inspect Capital Improvements contemplated by Section 3.01(vii) above);

Appears in 10 contracts

Samples: Management Agreement (Apple Suites Inc), Management Agreement (Apple Suites Inc), Management Agreement (Apple Suites Inc)

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Satisfaction of Obligations. Manager agrees to pay, when due, all --------------------------- amounts due under any equipment leases and all other contracts and agreements relating to the operation or maintenance of the Hotel, and, if requested by Owner, any Mortgage Documents relating to the loan from Owner's Leasehold Mortgagee ("Owner's Mortgage Documents"), but solely from and to the extent that funds are available in the Bank Account(s), and to comply, at Owner's cost and expense, with all other covenants and obligations contained in the equipment leases and all utility contracts, concession agreements, and service and maintenance contracts, and, if requested by Owner, Owner's Mortgage Documents to the extent that compliance therewith is within the reasonable control of Manager by reason of its management and operation of the Hotel pursuant to this Agreement; provided, however, Manager shall have no obligation to comply with any provisions in the Mortgage Documents that conflict with its rights and obligations under this Agreement. Manager shall have no obligation to perform or comply with any obligations of (i) Fee Owner or Owner under the Percentage Lease or (ii) Fee Owner under any Mortgage Documents relating to the loan from Fee Owner's Mortgagee (other than any right to approve or inspect Capital Improvements contemplated by Section 3.01(vii) above or FF&E Replacements contemplated by Section 3.01(viii) above);

Appears in 2 contracts

Samples: Management Agreement (Apple Suites Inc), Management Agreement (Apple Suites Inc)

Satisfaction of Obligations. Manager agrees to pay, when due, all amounts due under any equipment leases and all other contracts and agreements relating to the operation or maintenance of the Hotel, and, if requested by Owner, any Mortgage Documents relating to the loan from Owner's Leasehold Mortgagee ("Owner's Mortgage Documents"), but solely from and to the extent that funds are available in the Bank Account(s), and to comply, at Owner's cost and expense, with all other covenants and obligations contained in the equipment leases and all utility contracts, concession agreements, and service and maintenance contracts, and, if requested by Owner, Owner's Mortgage Documents to the extent that compliance therewith is within the reasonable control of Manager by reason of its management and operation of the Hotel pursuant to this Agreement; provided, however, Manager shall have no obligation to comply with any provisions in the Mortgage Documents that conflict with its rights and obligations under this Agreement. Manager shall have no obligation to perform or comply with any obligations of (i) Fee Owner or Owner under the Percentage Lease or (ii) Fee Owner under any Mortgage Documents relating to the loan from Fee Owner's Mortgagee (other than any right to approve or inspect Capital Improvements contemplated by Section 3.01(vii) above or FF&E Replacements contemplated by Section 3.01(viii) above);

Appears in 1 contract

Samples: Management Agreement (Apple Hospitality Five Inc)

Satisfaction of Obligations. Manager agrees to pay, when due, all --------------------------- amounts due under any equipment leases and all other contracts and agreements relating to the operation or maintenance of the Hotel, and, if requested by Owner, any Mortgage Documents relating to the loan from Owner's Leasehold Mortgagee ("Owner's Mortgage Documents"), but solely from and to the extent that funds are available in the Bank Account(s), and to comply, at Owner's cost and expense, with all other covenants and obligations contained in the equipment leases and all utility contracts, concession agreements, and service and maintenance contracts, and, if requested by Owner, Owner's Mortgage Documents to the extent that compliance therewith is within the reasonable control of Manager by reason of its management and operation of the Hotel pursuant to this Agreement; provided, however, Manager shall have no obligation to comply with any provisions in the Mortgage Documents that conflict with its rights and obligations under this Agreement. Manager shall have no obligation to perform or comply with any obligations of (i) Fee Owner or Owner under the Percentage Lease or (ii) Fee Owner under any Mortgage Documents relating to the loan from Fee Owner's Mortgagee (other than any right to approve or inspect Capital Improvements contemplated by Section 3.01(vii) above);

Appears in 1 contract

Samples: Management Agreement (Apple Suites Inc)

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Satisfaction of Obligations. Manager agrees to pay, when --------------------------- due, all amounts due under any equipment leases and all other contracts and agreements relating to the operation or maintenance of the Hotel, and, if requested by Owner, any Mortgage Documents relating to the loan from Owner's Leasehold Mortgagee ("Owner's Mortgage Documents"), but solely from and to the extent that funds are available in the Bank Account(s), and to comply, at Owner's cost and expense, with all other covenants covenant and obligations contained in the equipment leases and all utility contracts, concession agreements, and service and maintenance contracts, and, if requested by Owner, Owner's Mortgage Documents to the extent that compliance therewith is within the reasonable control of Manager by reason of its management and operation of the Hotel pursuant to this Agreement; provided, however, Manager shall have no obligation to comply with any provisions in the Mortgage Documents that conflict with its rights and obligations under this Agreement. Manager shall have no obligation to perform or comply with any obligations of (i) Fee Owner or Owner under the Percentage Lease or (ii) Fee Owner under any Mortgage Documents relating to the loan from Fee Owner's Mortgagee (other than any right to approve or inspect Capital Improvements contemplated by Section 3.01(vii) above);

Appears in 1 contract

Samples: Management Agreement (Apple Suites Inc)

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