Common use of Routine Repairs and Maintenance Clause in Contracts

Routine Repairs and Maintenance. The Manager shall maintain the Properties in good repair and condition and in conformity with applicable laws and regulations, insurance requirements and, with respect to the Conference Center Facilities, in accordance with the standards for other first-class conference center facilities and shall make or cause to be made such routine maintenance, repairs and minor alterations, the cost of which can be expensed under GAAP as it deems necessary or appropriate. The cost of such maintenance, repairs and alterations shall be paid from Gross Revenues and shall be treated as an Operating Expense. The cost of non-routine repairs and maintenance, either to the Properties buildings or their FF&E, shall be paid for in the manner described in Sections 8.02 and 8.03 below.

Appears in 1 contract

Sources: Management Agreement (Ridgewood Hotels Inc)

Routine Repairs and Maintenance. The Manager shall maintain the ------------------------------- Properties in good repair and condition and in conformity with applicable laws and regulations, insurance requirements and, with respect to the Conference Center Facilities, in accordance with the standards for other first-class conference center facilities and shall make or cause to be made such routine maintenance, repairs and minor alterations, the cost of which can be expensed under GAAP as it deems necessary or appropriate. The cost of such maintenance, repairs and alterations shall be paid from Gross Revenues and shall be treated as an Operating Expense. The cost of non-routine repairs and maintenance, either to the Properties buildings or their FF&E, shall be paid for in the manner described in Sections 8.02 and 8.03 below.

Appears in 1 contract

Sources: Management Agreement (Fountainhead Development Corp Inc)