Hotel Management Agreement Draft Page 9
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17b. A budget of expenditure for maintenance, renovation and
repairs.
c. A budget for expenditure for replacement.
5.
Duly authorized representatives of ABC shall at all times have
access to the Hotel, and shall in particular have a right to enter the
Hotel at all reasonable times while this Agreement remains in effect
for the purpose of inspection of the Hotel or of examining or
making extracts from its books and records, or for any other
purposes which ABC shall reasonably deem necessary or desirable,
but the same shall be done with as little disturbance to the
operations of the Hotel as possible.
6.
The Operator shall not lien any property of ABC.
PART IV
ADVERTISING & SALES PROMOTION
1.
The Operator shall arrange and contract for all advertising anf
promotion which the Operator may deem necessary for successful
operation of the Hotel.
2.
Prior to the commencement of each Fiscal Year, the Operator shall
deliver to ABC for approval a budget of the estimated advertising
and promotion costs related solely to the Hotel whether within or
outside India. Such costs to the extent they are approved, shall be
part of the Gross Operating expenses. Such budget for the First
Fiscal Year may be based on the Operator‟s projection of Gross
Income for that Fiscal Year.
3.
ABC shall create a reserve @ ___% of total turnover in the balance
sheet for advertisement and sales promotion.
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