Hotel Management Agreement Draft Page 10
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17PART V
DAMAGE AND DESTRUCTION
1. If the Hotel or any part thereof suffers damaged or destruction at ay
time during the Term of this Agreement by fire or such other insured
risks or casualties, ABC shall, at its own cost and expense and with due
diligence repair, rebuild, replace and reinstate the same so that after
such repair, rebuilding, replacement and reinstatement the Hotel shall
be substantially the same as the Hotel was prior to such damage or
destruction.
PART VI
ADVERSE OR EXCEPTIONAL CIRCUMSTANCES
1. In the event of an occurrence of exceptional circumstances of a general
character and beyond the control of ABC and the Operator, such as to
adversely affect the flow of tourists or foreigners into India and to
indicate that the operation of the Hotel would result in a Gross
Operating Loss, then the Operator and ABC shall decide on the
measures to be taken to counter such circumstances. These measures
may in particular, include complete or partial suspension of the
operation of the Hotel, transfer of the Hotel staff, relocation of
bookings and in general, any other measures calculated to alleviate the
effects of such exceptional circumstances. ABC and the Operator shall
thereafter confer at the request of either Party in order to decide the
continuation, modification or termination of such measures in the light
of the then prevailing circumstances.
PART VII
BANK ACCOUNT
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Business