Common use of Monthly Fees Clause in Contracts

Monthly Fees. Beginning on the Opening Date, you will pay to us for each month (or part of a month, including the final month you operate under this Agreement) the Monthly Royalty Fee and a Monthly Program Fee, each of which is defined in the Rider. The amount of the Monthly Program Fee is subject to change by us from time to time. Any change may be established in the Manual, but any increase in the Monthly Program Fee will not exceed one percent (1%) of the Hotel’s Gross Rooms Revenue in any calendar year, and the cumulative increases in the Monthly Program Fee, during the License Term, will not exceed five percent (5%) of Gross Rooms Revenue.

Appears in 4 contracts

Samples: Franchise License Agreement (Apple REIT Nine, Inc.), Franchise License Agreement (Apple REIT Nine, Inc.), Franchise License Agreement (Apple REIT Nine, Inc.)

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Monthly Fees. Beginning on the Opening Date, you will pay to us for each month (or part of a month, including the final month you operate under this Agreement) the Monthly Royalty Fee Fees as set forth and defined in the Rider and a Monthly Program Fee, each of which is Fee as set forth and defined in the Rider. The amount of the Monthly Program Fee is subject to change by us from time to time. Any change may will be established in the Manual, but any increase in the Monthly Program Fee will not exceed one percent (1%) of the Hotel’s Gross Rooms Revenue in any calendar year, and the cumulative increases in the Monthly Program Fee, during the License Term, will not exceed five percent (5%) of Gross Rooms Revenue.

Appears in 1 contract

Samples: Franchise License Agreement (Apple REIT Eight, Inc.)

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