Years Two and Three, 4% of gross receipts in Year Four, and 5% of gross receipts each year thereafter. Owner would have the right to terminate the Hotel Management Agreement if the Hotel fails in each of two consecutive operating years both a RevPAR Test and a GOP Test (together referred to as the Performance

_oar_ Nederland% Institimt Etiquette & Protocol • MBA in Hospitality Management Les Roches Hotel Management School, Switzerland • SHA Diploma in Hotel Management (BA) Les Roches Hotel Management School, Switzerland • BTECH Diploma in Hotel and Catering Management Bournemouth, England COMPUTER SKILLS Pro