Exclusions from Gross Operating Expenses. For purposes of calculating the fees payable pursuant to this Agreement, Operating Expenses shall not include any of the following:
Appears in 3 contracts
Samples: Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Hotel Management Agreement (Procaccianti Hotel Reit, Inc.)
Exclusions from Gross Operating Expenses. For purposes of calculating the fees Incentive Management Fee payable pursuant to this Agreement, Operating Expenses shall not include any of the following:
Appears in 2 contracts
Samples: Management Agreement (Procaccianti Hotel Reit, Inc.), Management Agreement (Procaccianti Hotel Reit, Inc.)
