Hotel Management Agreement Draft Page 4
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17building not being trade fixtures as hereinabove described and also
excluding “Operating Equipment.”
3.
“Operating Equipment” shall mean all silver, linen, uniforms,
china, glass, cooking utensils and all other similar items.
4.
“Operating Supplies” shall mean all guest room supplies,
consumable merchandise, stationary and office supplies, cleaning
supplies and similar items used or intended for use in connection
with the operation of the Hotel.
5.
“Agreement” shall mean this instrument as originally executed and
delivered, or, if amended or supplemented, as so amended or
supplemented.
6.
“Term” shall refer to the term of this Agreement, and any renewal
or extension hereof, as provided in these presents.
7.
“Fiscal Year” shall mean the twelve month period commencing on
the 1
day of April, and ending on the 31
day of March, except that
st
st
the First Fiscal Year shall be the period commencing from the date
of execution of this Agreement and ending on March 31st of the
following fiscal year.
8.
“Auditor” shall mean any reputable chartered accountant qualified
to act as an auditor of a joint stock company under the provisions of
the Companies Act, and to be appointed for the purpose of this
Agreement by ABC.
9.
“Gross turnover” shall mean all revenues of every kind from the
operation of the Hotel, and all its facilities including without
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