Accounting Periods. Tenant will provide Manager with evidence of Tenant’s payment of the Property Insurance Premiums, and the receipt of any credits, rebates and discounts, within five days after Manager’s request. For each Fiscal Year, Manager will reconcile interim Property Insurance Premium payments with the actual amount for the entire Fiscal Year, and Tenant and Manager will make any necessary adjustments following Tenant’s receipt of each Accounting Period Statement or Annual Operating Statement, as applicable. Manager will only be required to pay Property Insurance Premiums to the extent of available Gross Revenues. Tenant will pay all premiums under insurance policies that it procures before any fine, penalty or interest is incurred.
Appears in 6 contracts
Samples: Management Agreement (Service Properties Trust), Management Agreement (Service Properties Trust), Management Agreement (Service Properties Trust)
