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Real Estate Operating Agreement
"I need a Real Estate Operating Agreement for a luxury hotel property in Zurich, Switzerland, where we're appointing an international hotel operator starting March 2025, with specific provisions for brand standards compliance and staff transfer from the existing operator."
1. Parties: Identification of the property owner and the operator, including full legal names, addresses, and registration details
2. Background: Context of the agreement, property description, and purpose of the operating arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Appointment and Scope: Formal appointment of the operator and detailed scope of operational responsibilities
5. Term and Termination: Duration of the agreement, renewal provisions, and termination circumstances
6. Operator's Obligations: Comprehensive list of operator's duties including maintenance, staffing, compliance, and reporting
7. Owner's Obligations: Owner's responsibilities including providing access, documentation, and maintaining insurance
8. Financial Terms: Fee structure, operating expenses, budgeting, and financial reporting requirements
9. Operating Standards: Required quality standards, maintenance levels, and performance metrics
10. Insurance and Liability: Required insurance coverage and allocation of risks between parties
11. Compliance: Obligations to comply with laws, regulations, and permits
12. Reporting and Records: Required reports, documentation, and record-keeping obligations
13. Force Majeure: Provisions for unforeseen circumstances and their impact on obligations
14. Dispute Resolution: Procedures for resolving disputes under Swiss law
15. General Provisions: Standard legal provisions including notices, assignments, and amendments
1. Environmental Management: Specific environmental obligations and sustainability requirements, used when property has specific environmental considerations
2. Staff Transfer: Provisions for transfer of existing staff, used when current employees will transfer to the operator
3. Brand Standards: Requirements for maintaining specific brand standards, used for branded properties
4. Capital Expenditure: Process for managing capital improvements, used for properties requiring significant upgrades
5. Emergency Procedures: Specific emergency response requirements, used for high-risk or complex properties
6. Multi-property Terms: Special provisions for portfolio operations, used when agreement covers multiple properties
7. Market Positioning: Requirements for maintaining market position, used for luxury or specialized properties
1. Property Description: Detailed description of the property including plans and specifications
2. Asset Inventory: Inventory of furniture, fixtures, and equipment included in the operation
3. Service Levels: Detailed service level requirements and performance metrics
4. Fee Structure: Detailed breakdown of fees, charges, and payment terms
5. Operating Budget: Initial operating budget and budgeting procedures
6. Maintenance Schedule: Preventive maintenance requirements and schedules
7. Required Insurance: Detailed insurance requirements and minimum coverage levels
8. Initial Staff Plan: Staffing requirements and organizational structure
9. Permits and Licenses: List of required permits and licenses for operation
10. Emergency Contacts: List of emergency contacts and procedures
Authors
Applicable Laws
Approved Budget
Building Systems
Business Day
Commencement Date
Common Areas
Confidential Information
Contract Year
Effective Date
Emergency
Environmental Laws
Facility
Force Majeure Event
Gross Operating Revenue
Improvements
Initial Term
Insurance Requirements
Intellectual Property Rights
Maintenance Standards
Net Operating Income
Operating Expenses
Operating Standards
Operating Term
Operator's Fee
Owner's Representative
Permits
Property
Property Management Services
Quarterly Report
Renewal Term
Required Insurance
Service Charges
Service Levels
Service Providers
Swiss GAAP
Term
Termination Date
Utilities
Working Capital
Term and Renewal
Scope of Services
Operating Standards
Operator's Obligations
Owner's Obligations
Property Access
Staff and Employment
Maintenance and Repairs
Budget and Financial Management
Fees and Payments
Insurance
Indemnification
Liability
Force Majeure
Compliance with Laws
Health and Safety
Environmental Compliance
Permits and Licenses
Confidentiality
Data Protection
Intellectual Property
Record Keeping
Reporting Requirements
Performance Standards
Quality Control
Emergency Procedures
Utilities Management
Subcontracting
Assignment
Change of Control
Termination
Default and Remedies
Dispute Resolution
Governing Law
Notices
Amendments
Severability
Entire Agreement
Representation and Warranties
Third Party Rights
Real Estate
Property Management
Facility Management
Commercial Property
Residential Property
Hospitality
Retail Property
Industrial Property
Asset Management
Property Development
Legal
Operations
Property Management
Facility Management
Asset Management
Real Estate
Contract Management
Building Services
Maintenance
Risk Management
Compliance
Finance
Property Manager
Facility Manager
Asset Manager
Real Estate Operations Director
Building Operations Manager
Property Operations Coordinator
Real Estate Portfolio Manager
Facilities Operations Supervisor
Legal Counsel
Contract Manager
Real Estate Investment Manager
Operations Director
Property Services Manager
Maintenance Manager
Building Services Coordinator
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