Common use of Compensation to the Manager Clause in Contracts

Compensation to the Manager. The Manager, as a Management Fee, shall be reimbursed for its overhead costs and expenses related to managing the Hotels. If Manager manages more hotels than the Hotels contemplated by this Agreement, then Manager shall charge each hotel managed, including Hotels, its pro rata share of all overhead expenses, which include but are not limited to: wages of employees and officers, including the salary of Kxxxx X. Xxxxxxxxxxx; rent; legal; accounting; insurance; and travel expenses. In no event will the annualized Management Fee exceed four and one-half percent (4.5%) of annual gross revenues. Such Management Fee shall be paid to Manager on a monthly basis. Any expenses for services that would customarily be handled by a hotel property, such as bookkeeping, and expenses that are paid for third party services, such as accounting and legal services, shall be paid directly by the Hotels or Owner or shall be reimbursed to the Manager and shall not be included in the four and one-half percent of gross revenue cap.

Compensation to the Manager. The Manager, as a Management Fee, shall be reimbursed for its overhead costs and expenses related to managing the Hotels. If Manager manages more hotels than the Hotels contemplated by this Agreement, then Manager shall charge each hotel managed, including Hotels, its pro rata share of all overhead expenses, which include but are not limited to: wages of employees and officers, including the salary of Kxxxx Xxxxx X. Xxxxxxxxxxx; rent; legal; accounting; insurance; and travel expenses. In no event will the annualized Management Fee exceed four and one-half percent (4.5%) of annual gross revenuesrevenues of the Hotels. Such Management Fee shall be paid to Manager on a monthly basis. Any expenses for services that would customarily be handled by a hotel property, such as bookkeeping, and expenses that are paid for third party services, such as accounting and legal services, shall be paid directly by the Hotels or Owner or shall be reimbursed to the Manager and shall not be included in the four and one-half percent of gross revenue cap.

Compensation to the Manager. The Manager, as a Management Fee, shall be reimbursed for its overhead costs and expenses related to managing the Hotels. If Manager manages more hotels than the Hotels contemplated by this Agreement, then Manager shall charge each hotel managed, including Hotels, its pro rata share of all overhead expenses, which include but are not limited to: wages of employees and officers, including the salary of Kxxxx Xxxxx X. Xxxxxxxxxxx; rent; legal; accounting; insurance; and travel expenses. In no event will the annualized Management Fee exceed four and one-one- half percent (4.5%) of annual gross revenues. Such Management Fee shall be paid to Manager on a monthly basis. Any expenses for services that would customarily be handled by a hotel property, such as bookkeeping, and expenses that are paid for third party services, such as accounting and legal services, shall be paid directly by the Hotels or Owner or shall be reimbursed to the Manager and shall not be included in the four and one-half percent of gross revenue cap.

Compensation to the Manager. The Manager, as a Management Fee, shall be reimbursed for its overhead costs and expenses related to managing the Hotels. If Manager manages more hotels than the Hotels contemplated by this Agreement, then Manager shall charge each hotel managed, including Hotels, its pro rata share of all overhead expenses, which include but are not limited to: wages of employees and officers, including the salary of Kxxxx Xxxxx X. Xxxxxxxxxxx; rent; legal; accounting; insurance; and travel expenses. In no event will the annualized Management Fee exceed four and one-half percent (4.54l/2%) of annual gross revenues. Such Management Fee shall be paid to Manager on a monthly basis. Any expenses for services that would customarily be handled by a hotel property, such as bookkeeping, and expenses that are paid for third party services, such as accounting and legal services, shall be paid directly by the Hotels or Owner or shall be reimbursed to the Manager and shall not be included in the four and one-half percent of gross revenue cap. No other terms, conditions or provisions of the Hotel Management Agreement shall be changed or altered except as set forth herein.