Fixed Asset Supplies. Prior to the Effective Date, Owner has supplied the Retirement Community with Fixed Asset Supplies. In the event that any additional funds are necessary to maintain Fixed Asset Supplies at levels determined by Operator to be necessary to operate the Retirement Community in accordance with the Marriott Standards, such funds shall be provided from Gross Revenues and treated as an Operating Expense. Fixed Asset Supplies shall remain the property of Owner throughout the Term of this Agreement, except for Fixed Asset Supplies purchased by Operator pursuant to Section 10.03.
Appears in 2 contracts
Sources: Operating Agreement (Five Star Quality Care Inc), Operating Agreement (Five Star Quality Care Inc)
Fixed Asset Supplies. Prior to the Effective Date, Owner has supplied the Retirement Community with Fixed Asset Supplies. In the event that any additional funds are necessary to maintain Fixed Asset Supplies at levels determined by Operator to be necessary to operate the Retirement Community -------------------------------------------------------------------------------- OPERATING AGREEMENT PAGE 35 in accordance with the Marriott Standards, such funds shall be provided from Gross Revenues and treated as an Operating Expense. Fixed Asset Supplies shall remain the property of Owner throughout the Term of this Agreement, except for Fixed Asset Supplies purchased by Operator pursuant to Section 10.03.
Appears in 1 contract