Use of Marketing Funds. Manager will account for the Marketing Contribution in separate books of account, and furnish Owner, upon request, an annual statement of receipts and disbursements. Other than as specifically provided in this Agreement: (i) Manager and RHI decide, in their sole discretion, the nature and amount of all costs and expenses to be paid out of the Marketing Contribution to themselves, their Affiliates and Third Parties; (ii) the Marketing Contribution is not held in trust or escrow for the benefit of Owner or other System Hotels; (iii) neither Manager nor its Affiliates have any fiduciary duty with respect to the Marketing Contribution; and (iv) Owner has no rights of any kind with respect to the Marketing Contribution.
Appears in 4 contracts
Samples: Management Agreement, Management Agreement (Capital Lodging), Management Agreement (Capital Lodging)
