Common use of VACATE Clause in Contracts

VACATE. Operator shall peacefully vacate and surrender the Condo-Hotel to Owner, and shall deliver to Owner any and all keys, locks and safe combinations, reservation lists, ledgers, bank statements for the Operating Account, budgets, accounting books and records, insurance policies, bonds and other documents, memoranda, schedules, lists, contracts, agreements, leases, licenses, with respect to the Condo-Hotel all as is reasonably necessary to permit continued and uninterrupted operation of the Condo-Hotel, complete copies of correspondence, other files and records generated by Operator in the course of operating the Condo-Hotel and relating exclusively to the Condo-Hotel, nonproprietary software used in the accounting, reservation and other systems of the Condo-Hotel and any licenses required for use thereof, all depository accounts for the Condo-Hotel including the Operating Account and the Shared Components Reserve Fund, and other items required for the operation of the Condo-Hotel. Notwithstanding the foregoing, Operator shall not be required to assign to Owner pursuant to the foregoing sentence any Proprietary Information. Accounting and other books and records shall include all electronic as well as paper records, except in the case of any software that is proprietary to Operator or its Affiliates. If any such non-Proprietary Information is maintained Operator or its Affiliates in a regional or central location and is not located at the Condo-Hotel, Operator shall cause such information with respect to the Condo-Hotel to be electronically transferred into systems designated by Owner (including systems of a successor operator) to the extent electronic data is compatible with Owner’s or successor operator’s systems and if not compatible shall cooperate, in all reasonable respects, with Owner and the successor operator in seeking to convert such data to a compatible format. Costs and expenses incurred in connection with any of the foregoing shall be an Owner expense and shall not be the obligation or liability of Operator.

VACATE. Operator Manager shall peacefully vacate and surrender the Condo-Hotel Component to Owner, and shall deliver to Owner any and all keys, locks and safe combinations, reservation lists, ledgers, bank statements for the Operating AccountAccounts, budgets, accounting books and records, insurance policies, bonds and other documents, memoranda, schedules, lists, contracts, agreements, leases, licenses, with respect to the Condo-Hotel applicable Component all as is reasonably necessary to permit continued and uninterrupted operation of the Condo-Hotelapplicable Component, complete copies of correspondence, other files and records generated by Operator a Manager in the course of operating the Condo-Hotel Component and relating exclusively to the Condosuch Component, non-Hotel, nonproprietary proprietary software used in the accounting, reservation and other systems of the Condo-Hotel Component and any licenses required for use thereof, all depository accounts for the Condo-Hotel Component including the Operating Account Accounts and the Shared Components Replacement Reserve Fund, and other items required for the operation of the Condo-HotelComponent. Notwithstanding the foregoing, Operator Component Managers shall not be required to assign to Owner pursuant to the foregoing sentence any Proprietary Information. Accounting and other books and records shall include all electronic as well as paper records, except in the case of any software that is proprietary to Operator such Manager or its Affiliates. If any such non-Proprietary Information is maintained Operator by a Manager or its Affiliates in a regional or central location and is not located at the Condo-HotelComponent, Operator Manager shall cause such information with respect to the Condo-Hotel Component to be electronically transferred into systems designated by Owner (including systems of a successor operator) to the extent electronic data is compatible with Owner’s or successor operator’s systems and if not compatible shall cooperate, in all reasonable respects, with Owner and the successor operator in seeking to convert such data to a compatible format. Costs and expenses incurred in connection with any of the foregoing shall be an Owner expense and shall not be the obligation or liability of OperatorManager.