Common use of Tax and Insurance Accruals Clause in Contracts

Tax and Insurance Accruals. If requested by Owner, Manager shall accrue and set aside on a monthly basis funds from Adjusted Gross Revenues if available in the priority set forth on Exhibit B for the payment of real estate taxes and insurance premiums, and such accruals shall be deposited in a separate account and not commingled with other operating accounts for Hotel operations generally, provided, however, that to the extent such accruals exceed the amount necessary to pay the actual amount of real estate taxes and insurance premiums, such excess shall be available for operating costs, ownership costs, Owner's Basic Return, the Subordinated Management Fee and the others items set forth on, and in the priority set forth on, Exhibit B. If such accruals do not exceed the actual amounts due in respect of real estate taxes and insurance premiums but Owner and Manager agree in writing, the tax and insurance accruals on deposit may be used from time to time to pay operating costs if Adjusted Gross Revenues are not otherwise sufficient to pay such operating costs.

Tax and Insurance Accruals. If requested by Owner, Manager shall accrue and set aside on a monthly basis funds from Adjusted Gross Revenues if available in the priority set forth on Exhibit B "B" for the payment of real estate taxes and insurance premiums, and such accruals shall be deposited in a separate account and not commingled with other operating accounts for Hotel operations generally, provided, however, that to the extent such accruals exceed the amount necessary to pay the actual amount of real estate taxes and insurance premiums, such excess shall be available for operating costs, ownership costs, Owner's Basic Return, the Subordinated Management Fee and the others other items set forth on, and in the priority set forth on, Exhibit B. "B". If such accruals do not exceed the actual amounts due in respect of real estate taxes and insurance premiums but Owner and Manager agree in writing, the tax and insurance accruals on deposit may be used from time to time to pay operating costs if Adjusted Gross Revenues are not otherwise sufficient to pay such operating costs.; and