Compensation to Manager. In the event that Manager agrees to perform all supervisory services necessary to carry out ROI Capital Improvements (e.g., replacement of roof, driveways, elevators, HVAC, or that require other structural changes or alterations to the Resort, etc.), Manager shall be paid a market supervisory fee in connection therewith in an amount to be mutually agreed upon between Tenant and Manager, and Manager shall have the authority to complete such ROI Capital Improvements. In the event Manager elects to have a third party perform or supervise such ROI Improvements, such third party shall be selected by Manager.
Appears in 2 contracts
Sources: Management Agreement, Hotel and Casino Management Agreement (Harrahs Entertainment Inc)
Compensation to Manager. In the event that Manager agrees to perform all supervisory services necessary to carry out ROI Capital Improvements (e.g., replacement of roof, driveways, elevators, HVAC, or that require other structural changes or alterations to the Resort, etc.), Manager shall be paid a market supervisory fee in connection therewith in an amount to be mutually agreed upon between Tenant Owner and Manager, and Manager shall have the authority to complete such ROI Capital Improvements. In the event Manager elects to have a third third-party perform or supervise such ROI Improvements, such third third-party shall be selected by Manager.
Appears in 1 contract
Sources: Hotel and Casino Management Agreement (Caesars Acquisition Co)