Accounting, Distributions and Annual Reconciliation. A. Within fifteen (15) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the “Accounting Period Statement”) to Owner, prepared in accordance with the Uniform System of Accounts, showing Gross Revenues, Deductions, Operating Profit and applications and distributions thereof for the preceding Accounting Period and any other information reasonably requested by Owner. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs mutually agreed upon by Owner and Manager, and shall retain any interim amounts payable to Manager pursuant to the terms of this Agreement.
Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the "Accounting Period Statement") to Owner showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs, and shall retain any interim amounts due Manager.
Accounting, Distributions and Annual Reconciliation. A. Within ten (10) days after the close of each Accounting Period, Lessee shall deliver to Lessor a statement of Gross Revenues for the immediately preceding Accounting Period and for the fiscal quarter and Fiscal Year to date, all certified by the Lessee’s chief financial officer to be true and correct. Within twenty (20) days after the close of each Accounting Period, Lessee shall deliver to Lessor (i) an interim profit and loss statement, (ii) a balance sheet showing the results of the operation of the Leased Property, and (iii) a cash flow statement, all certified by the Lessee’s chief financial officer to be true and correct (an “Accounting Period Statement”). Within sixty (60) days after the close of each quarter of each Fiscal Year, Lessee shall deliver, or cause to be delivered, to Lessor (i) certified Financial Statements of Lessee’s Parent and (ii) an organizational chart accurately presenting the ownership of the ownership interests in Lessee.
Accounting, Distributions and Annual Reconciliation. A. Within fifteen (15) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the “Accounting Period Statement”) to Owner, prepared in accordance with the Uniform System of Accounts, showing Gross Revenues, Deductions, Operating Profit and applications and distributions thereof for the preceding Accounting Period and any other information reasonably requested by Owner. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs reasonably proposed by Manager and approved by Owner, such approval not to be unreasonably withheld, and shall retain any interim amounts payable to Manager pursuant to the terms of this Agreement.
Accounting, Distributions and Annual Reconciliation. A. Manager agrees that it shall exercise its rights under the Submanagement Agreement to cause Marriott to institute (as soon as reasonably practicable after the Take-Over Date, but in no event more than sixty (60) days after the Take-Over Date) cash management protocols at the Hotel in order that Marriott will distribute to an account designated and owned by Primary Manager on a daily basis (to the extent possible, subject to holidays, banking holidays, and other days in which account transfers cannot be effected by banks) all amounts in the Operating Accounts that are in excess of the Reasonable Amount of Working Capital and amounts due Submanager. During the up to 60 day period when such daily sweep is being implemented, Manager shall cause Marriott to sweep weekly to Primary Manager's account on a manual basis. Amounts in such account of Primary Manager received from Marriott shall be transferred to an account designated and owned by Lessee within one (1) business day of receipt by Manager (to the extent possible, subject to holidays, banking holidays, and other days in which account transfers cannot be effected by banks). Within twenty (20) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the "Accounting Period Statement") to Lessee showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period.
Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Tenant shall deliver to Landlord an interim profit and loss statement for the preceding Accounting Period certified by the Tenant’s chief financial officer to be true and correct (an “Accounting Period Statement”).
Accounting, Distributions and Annual Reconciliation. A. Submanager agrees that it shall institute (as soon as reasonably practicable after the TakeOver Date, but in no event more than sixty (60) days after the Take-Over Date) cash management protocols at the Hotel in order to distribute to an account designated and owned by Primary Manager on a daily basis (to the extent possible, subject to holidays, banking holidays, and other days in which account transfers cannot be effected by banks) all amounts in the Operating Accounts that are in excess of the Reasonable Amount of Working Capital and amounts due Submanager. During the up to 60 day period when such daily sweep is being implemented, Submanager shall sweep weekly to Primary Manager's account on a manual basis. Within twenty (20) days after the close of each Accounting Period (Submanager hereby agreeing to use reasonable best efforts to deliver reports in fifteen (15) days), Submanager shall deliver an interim accounting (the "Accounting Period Statement") to Primary Manager showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period.
Accounting, Distributions and Annual Reconciliation. (a) Within fifteen (15) days after the close of each Accounting Period (or such earlier time period as required under the Management Agreement), Tenant shall cause Manager to deliver to Landlord an interim financial statement (each, an “Accounting Period Statement”) showing Gross Revenues and applications and distributions thereof for the preceding Accounting Period, together with any and all other information required to be reflected on or provided with such Accounting Period Statement as may be required pursuant to the Management Agreement. Each such Accounting Period Statement shall be accompanied by a certificate of any officer or other authorized representative of Manager certifying that such Accounting Period Statement was prepared under such person’s direction in accordance with GAAP, and in such person’s opinion is true and correct. Tenant shall cause Manager to transfer to Tenant, with each Accounting Period Statement, any interim amounts due Tenant, subject to Working Capital needs, and shall retain any interim amounts due Manager.
Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Lessee shall deliver to Lessor an interim profit and loss statement summarizing the operations of the Cypress Premises for the preceding Accounting Period certified by the Lessee’s chief financial officer to be true and correct (an “Accounting Period Statement”).
Accounting, Distributions and Annual Reconciliation. 87 16.3. Books and Records 87 16.4. Annual Business Plan 88 16.5. Update Meetings 88 16.6. Approvals. 88 16.7. Xxxxxxxx-Xxxxx 89 17. LANDLORD’S RIGHT TO INSPECT 90 18. BUYBACK OPTION 90 19. MISCELLANEOUS. 90 19.1. Limitation on Payment of Rent 90 19.2. No Waiver 91 19.3. Remedies Cumulative 91 19.4. Severability 91 19.5. Acceptance of Surrender 92 19.6. No Merger of Title 92 19.7. Quiet Enjoyment 92 19.8. Dispute Resolution 93 19.9. No Recordation 94 19.10. Notices. 94 19.11. Construction 96 19.12. Limited Recourse 97 19.13. Counterparts; Headings 98 19.14. Entire Agreement 98 19.15. Applicable Law, Etc 98 19.16. Right to Make Agreement 99 19.17. Indemnity of Tenant’s Performance 99 19.18. Time 99 19.19. Exculpation of Trustee 100 SUB-PERMIT AND LEASE AGREEMENT (WITH BUY BACK OPTION) THIS SUB-PERMIT AND LEASE AGREEMENT (the “Lease”) is entered into as of this 18th day of May, 2006, by and between R&H US CANADIAN CYPRESS LIMITED a company incorporated pursuant to the laws of the Island of Jersey, solely in its capacity as trustee of CYPRESS JERSEY TRUST, a trust settled pursuant to the laws of the Island of Jersey, (the “Landlord”), and CYPRESS BOWL RECREATIONS LIMITED PARTNERSHIP, a British Columbia limited partnership (the “Tenant”).
