Common use of Non-Economic Hotels Clause in Contracts

Non-Economic Hotels. (a) Manager shall be entitled to designate as a Non-Economic Hotel any Hotel for which, in each of any three (3) consecutive full Fiscal Years during the Term subsequent to the Parsippany Hotel Effective Date, the Operating Profit is less than the sum of (i) amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus (ii) Owner’s Priority attributable to such Hotel as set forth in Exhibit C hereto; provided, however, that the number of Hotels designated as Non-Economic Hotels under this Agreement (other than those with respect to which such designation has been withdrawn or deemed withdrawn, but including those which have been sold pursuant to this Section 2.12) shall not exceed three (3). If subsequent to a Hotel being designated as a Non-Economic Hotel but prior to its sale pursuant to this Section 2.12, the Operating Profit of such Hotel for any Fiscal Year shall exceed the sum of amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus the portion of the Owner’s Priority for such Fiscal Year attributable to such Hotel, such designation shall be deemed withdrawn; provided, however, if Manager is then negotiating a sale of such Hotel to a third-party, such designation shall not be deemed withdrawn for a period of three (3) months.

Non-Economic Hotels. (a) Manager shall be entitled to designate as a Non-Economic Hotel any Hotel for which, in each of any three (3) consecutive full Fiscal Years during the Term subsequent to the Parsippany Hotel Effective DateTerm, the Operating Profit is less than the sum of (i) amounts to be funded to the Reserve Account pursuant to Section SECTION 5.2(a) on account of such Hotel, plus (ii) Owner’s 's Fixed Priority attributable to such Hotel as set forth in Exhibit pursuant to EXHIBIT C hereto; providedPROVIDED, howeverHOWEVER, that the number of Hotels designated as Non-Economic Hotels under this Agreement (other than those with respect to which such designation has been withdrawn or deemed withdrawn, but including those which have been sold pursuant to this Section 2.12SECTION 2.7) shall not exceed three (3). If subsequent to a Hotel being designated as a Non-Economic Hotel but prior to its sale pursuant to this Section 2.12SECTION 2.7, the Operating Profit of such Hotel for any Fiscal Year shall exceed the sum of amounts to be funded to the Reserve Account pursuant to Section SECTION 5.2(a) on account of such Hotel, plus the portion of the Owner’s 's Fixed Priority for such Fiscal Year so attributable to such Hotel, such designation shall be deemed withdrawn; provided, however, if Manager is then negotiating a sale of such Hotel to a third-third party, such designation shall not be deemed withdrawn for a period of three (3) months.

Non-Economic Hotels. (a) Manager shall be entitled to designate as a Non-Economic Hotel any Hotel for which, in each of any three (3) consecutive full Fiscal Years during the Term subsequent to the Parsippany Hotel Effective DateTerm, the Operating Profit is less than the sum of (i) amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus (ii) Owner’s 's Fixed Priority attributable to such Hotel as set forth in pursuant to Exhibit C hereto; provided, however, that the number of Hotels designated as Non-Economic Hotels under this Agreement (other than those with respect to which such designation has been withdrawn or deemed withdrawn, but including those which have been sold pursuant to this Section 2.122.7) shall not exceed three (3). If subsequent to a Hotel being designated as a Non-Economic Hotel but prior to its sale pursuant to this Section 2.122.7, the Operating Profit of such Hotel for any Fiscal Year shall exceed the sum of amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus the portion of the Owner’s 's Fixed Priority for such Fiscal Year so attributable to such Hotel, such designation shall be deemed withdrawn; provided, however, if Manager is then negotiating a sale of such Hotel to a third-party, such designation shall not be deemed withdrawn for a period of three (3) months.

Non-Economic Hotels. (a) Manager shall be entitled to designate as a Non-Economic Hotel any Hotel for which, in each of any three (3) consecutive full Fiscal Years during the Term subsequent to the Parsippany Hotel Effective DateTerm, the Operating Profit is less than the sum of (i) amounts to be funded to the Reserve Account pursuant to Section SECTION 5.2(a) on account of such Hotel, plus (ii) Owner’s Fixed Priority attributable to such Hotel as set forth in Exhibit pursuant to EXHIBIT C hereto; providedPROVIDED, howeverHOWEVER, that the number of Hotels designated as Non-Economic Hotels under this Agreement (other than those with respect to which such designation has been withdrawn or deemed withdrawn, but including those which have been sold pursuant to this Section 2.12SECTION 2.7) shall not exceed three (3). If subsequent to a Hotel being designated as a Non-Economic Hotel but prior to its sale pursuant to this Section 2.12SECTION 2.7, the Operating Profit of such Hotel for any Fiscal Year shall exceed the sum of amounts to be funded to the Reserve Account pursuant to Section SECTION 5.2(a) on account of such Hotel, plus the portion of the Owner’s Fixed Priority for such Fiscal Year so attributable to such Hotel, such designation shall be deemed withdrawn; provided, however, if Manager is then negotiating a sale of such Hotel to a third-third party, such designation shall not be deemed withdrawn for a period of three (3) months.

Non-Economic Hotels. (a) Manager shall be entitled to designate as a Non-Economic Hotel any Hotel for which, in each of any three (3) consecutive full Fiscal Years during the Term subsequent to the Parsippany Hotel Effective DateTerm, the Operating Profit is less than the sum of (i) amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus (ii) Owner’s Fixed Priority attributable to such Hotel as set forth in pursuant to Exhibit C hereto; provided, however, that the number of Hotels designated as Non-Economic Hotels under this Agreement (other than those with respect to which such designation has been withdrawn or deemed withdrawn, but including those which have been sold pursuant to this Section 2.122.7) shall not exceed three (3). If subsequent to a Hotel being designated as a Non-Economic Hotel but prior to its sale pursuant to this Section 2.122.7, the Operating Profit of such Hotel for any Fiscal Year shall exceed the sum of amounts to be funded to the Reserve Account pursuant to Section 5.2(a) on account of such Hotel, plus the portion of the Owner’s Fixed Priority for such Fiscal Year so attributable to such Hotel, such designation shall be deemed withdrawn; provided, however, if Manager is then negotiating a sale of such Hotel to a third-third party, such designation shall not be deemed withdrawn for a period of three (3) months.