Accounts, Expenditures. A. All funds derived from operation of the Hotel shall be deposited by Manager in Owner’s bank accounts (the “Operating Accounts”) established by Manager in a bank or banks designated by Manager with the concurrence of Owner. Withdrawals by Manager from said Operating Accounts shall be made solely by the General Manager or the Assistant General Manager of the Hotel, a senior officer of Manager or such other representatives of Manager whose signatures have been authorized by Manager with the concurrence of Owner. Reasonable xxxxx cash funds shall be maintained at the Hotel.
Accounts, Expenditures. A. All funds derived from operation of the Inn shall be deposited by Manager in bank accounts (the "Operating Accounts") established by Manager in a bank or banks designated by Manager. Withdrawals from said Operating Accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable xxxxx cash funds shall be maintained at the Inn.
Accounts, Expenditures. A. Tenant irrevocably authorizes and directs Manager to pay, and Manager agrees to pay (or repay, as applicable), without notice, demand or request therefor, but in each instance subject to the provisions of the Pooling Agreement, if applicable, and the Marriott Guaranty Agreement, if applicable, with respect to each of the Hotels: (1) Tenant’s Priority to Tenant when due and payable hereunder, (2) the Ground Lease Rent (if any) to Tenant, (3) the Base Management Fee to itself, (4) distributions to Tenant, Marriott and/or Manager with respect to the Tenant Advances, Additional Marriott Advances and Additional Manager Advances, (5) any accrued, but unpaid Base Management Fees to itself, (6) the First Incentive Management Fee to itself, (7) the Security Deposit Replenishment to Tenant, (8) the Second Incentive Management Fee to itself, and (9) the remaining balance, if any, to Tenant, in each of the foregoing instances set forth in this Section 4.03.A(1) through (9), at the time interim distributions are made pursuant to Section 4.01 hereof (except as otherwise set forth herein), and to the extent of the sufficiency of, and in the order of, distribution of Operating Profit under Section 3.02.B. Subject to Section 4.03.D, Manager is authorized to, and shall, make all expenditures required to be made hereunder with respect to the operation of the Hotels, but only from funds available for such payments under the terms of this Agreement or under the terms of the Pooling Agreement, if applicable, or under the Marriott Guaranty Agreement, if applicable.
Accounts, Expenditures. 14 4.04 Accounting for Conversion of Hotel...........................15 4.05
Accounts, Expenditures. A. Manager will deposit all funds derived from operation of the Resort in bank accounts (the "Operating Accounts") in a bank or banks, identified and selected by Owner, subject to Manager's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable pettx xxxh funds shall be maintained at the Resort.
Accounts, Expenditures. A. All funds derived from operation of the Hotel shall be deposited on a daily basis (to the extent possible, subject to holidays, banking holidays and other days in which deposits to banks cannot be effected) by Submanager in bank accounts (the "Operating Accounts") in a bank or banks designated by Submanager, subject to Primary Manager's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Submanager whose signatures have been authorized. Submanager shall assume the responsibilities of a fiduciary with respect to Submanager's handling of Primary Manager's funds which are derived from the operation of the Hotel. Reasonable pettx xxxh funds shall be maintained at the Hotel.
Accounts, Expenditures. (a) Tenant shall cause all funds derived from operation of the Facility to be deposited by Manager in bank accounts (the “Operating Accounts”) established by Manager and Tenant in a bank or banks designated by Tenant, or at Tenant’s direction by Manager, subject to Landlord’s approval. Withdrawals from said Operating Accounts shall be made solely by representatives whose signatures have been authorized by Tenant. Reasonable xxxxx cash funds in the ordinary course of business shall be maintained at the Facility.
Accounts, Expenditures. A. Manager shall exercise its rights under the Submanagement Agreement to insure that all funds derived from operation of the Hotel shall be deposited on a daily basis (to the extent possible, subject to holidays, banking holidays and other days in which deposits to banks cannot be effected) by Marriott in bank accounts (the "Operating Accounts") in a bank or banks designated by Marriott, subject to Lessee's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Marriott whose signatures have been authorized pursuant to the Submanagement Agreement. Manager shall exercise its rights under the Submanagement Agreement to cause Marriott to assume the responsibilities of a fiduciary with respect to Marriott's handling of Lessee's funds which are derived from the operation of the Hotel. Reasonable pettx xxxh funds shall be maintained at the Hotel.
Accounts, Expenditures. A. All escrow reserve accounts and funds derived from operation of the Inn shall b e deposited by Manager in a bank account(s) in a bank designated by Manager. Withdrawals from said accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable pxxxx cash funds shall be maintained at the Inn.
Accounts, Expenditures. A. All funds derived from the operation of the Hotel & Conference Center shall belong to and be the property of Owners and shall be deposited by Management Company in bank accounts established by Management Company as instructed by Owners in one or more banks approved by Owners. For so long as Owner of the Hotel Facility is an Affiliate of First American, all such funds shall be deposited in bank account(s) at First American. All disbursements and withdrawals from said accounts as required or permitted under this Agreement (i.e., the payment of all Deductions and the distribution of Operating Profit) shall be made by bonded representatives of Management Company whose signatures have been authorized. Reasonable xxxxx cash funds and house banks, in amounts satisfactory to Owners, shall be maintained at the Hotel & Conference Center. As reflected in the interim accounting statements provided pursuant to Section 6.04 and the Annual Operating Statement, and in conformance with Article 10 of the Operating Agreement, (i) all expenses of the Hotel Facility shall be charged to or for the account of the Hotel Facility and (ii) all expenses of the Conference Center Facility shall be charged to or for the account of the Conference Center Facility and (iii) all expenses of the Shared Facilities shall be allocated between the Hotel Facility and Conference Center Facility as provided in Section 10.5 of the Operating Agreement.
