Provision of Funds. 5.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of Owner. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from the operation of the Hotels or as otherwise provided by Owner.
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Samples: Hotel Management Agreement (Summit Hotel OP, LP), Hotel Management Agreement (Summit Hotel Properties, Inc.), Hotel Management Agreement (Summit Hotel Properties, Inc.)
Provision of Funds. 5.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of Owner. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from the operation of the Hotels Hotel or as otherwise provided by Owner.
Appears in 1 contract
Samples: Hotel Management Agreement (Sunstone Hotel Investors, Inc.)
Provision of Funds. 5.16.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of Owner. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from the operation of the Hotels Hotel or as otherwise provided by due to Owner's failure to provide required working capital.
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Provision of Funds. 5.16.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of OwnerLessee. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from the operation of the Hotels Hotel or as otherwise provided by OwnerLessee.
Appears in 1 contract
Samples: Agreement (Winston Hotels Inc)
Provision of Funds. 5.16.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of Owner. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from (except to the operation extent funds are required of the Hotels or as otherwise provided by OwnerOperator to fulfill its indemnification obligations under this Agreement).
Appears in 1 contract
Provision of Funds. 5.16.1. In performing its services under this Agreement, Operator shall act solely as agent and for the account of Owner. Operator shall not be deemed to be in default of its obligations under this Agreement to the extent it is unable to perform any obligation due to the lack of available funds from the operation of the Hotels Managed Outlet or as otherwise provided by Owner.
Appears in 1 contract
Samples: Restaurant Management Agreement (Grill Concepts Inc)
