Common use of Operating Standard Clause in Contracts

Operating Standard. Operator shall perform the Services to the level of competency and quality presently maintained by other operators providing similar services to similar facilities as contemplated herein, and Operator shall adhere to all Applicable Laws, rules, regulations, and standards, including ethical standards, and GAAP applicable to the performance of the Services (“Operating Standard”). All fees (other than the Base Fee and Incentive fee (as defined below)) received by Operator in the performance of the Services hereunder shall be for Owner’s sole benefit and shall be accounted for as Hotel items.