Accounts Payable and Expenses. All accounts payable and expenses related to operations of the Property which have accrued before the Transfer Time shall be paid by Sellers. Buyer understands and agrees that Sellers may postpone and/or contest payment of any account payable or expense which is the subject of a bona fide dispute, or for which a bxxx is not rendered until after Closing. All accounts payable and expenses accruing after the Transfer Time will be Buyer’s responsibility.
Accounts Payable and Expenses. As of the Closing Date, Buyer shall assume the Assumed Liabilities, without offset to or deduction from the Purchase Price. Sums due for any other accounts payable and expenses which were owed or incurred by Seller with respect to the Property prior to the Closing Date will be paid by Seller. Buyer will furnish to Seller any bills for such period received after the Closing Date for payment, and Buyer will have no further obligation with respect thereto. All accounts payable or expenses incurred by Buyer on or after the Closing Date will be paid by Buyer. Any account payable or expense which pertains to the month during which Closing occurs, or to any other period the span of which includes the Closing Date, will be prorated between Seller and Buyer, based on the number of days in such month or other period before (but not including) and after (and including) the Closing Date.
Accounts Payable and Expenses. All accounts payable and expenses related to operations of the Property which have accrued before the Closing Date shall be paid by Wolf or the Wolf Partner(s). All accounts payable and expenses accruing after the Closing will be the Partnership’s, the applicable SPE Owner’s or the applicable Tenant’s responsibility.
Accounts Payable and Expenses. All accounts payable and expenses related to operation of the Property which have accrued on or before the Closing Date shall be paid by Buyer, subject to any adjustments of Net Delivered Equity made in accordance with Section 3.01. All accounts payable and expenses incurred by the Buyer accruing after the Transfer Time will be Buyer’s responsibility and Buyer shall indemnify and hold Seller harmless from all such accounts payable and expenses accruing after the Transfer Time. The indemnities provided in this Section shall survive Closing.
Accounts Payable and Expenses. 18 SECTION 4.07 2005 CAPITAL EXPENDITURE AND PROPERTY IMPROVEMENT PLAN EXPENSES.......................19 ARTICLE V. EMPLOYEES.............................................................................................19
Accounts Payable and Expenses. All accounts payable and expenses related to the operation of the Property which have accrued before the Transfer Time (including, without limitation, Seller’s Payables) and/or that are payable under the Rejected Contracts or the Retained Contracts shall be paid by Seller, and Seller shall defend, indemnify and hold Buyer and the Buyer Indemnitees harmless from and against any and all Losses suffered by Buyer or any Buyer Indemnitee as a direct result of Seller’s failure to pay such accrued accounts payable and accrued expenses and/or any amounts payable under the Rejected Contracts or the Retained Contracts. All accounts payable and expenses arising after the Transfer Time which are incurred under the Assumed Contracts or at the direction of Buyer will be the responsibility of Buyer and Buyer shall defend, indemnify, and hold Seller and the Seller Indemnitees harmless from any Losses incurred by Seller and the Seller Indemnitees as a direct result of the failure by Buyer to pay such accrued accounts payable and accrued expenses. The indemnity provided in this Section 9.5 shall survive Closing.
Accounts Payable and Expenses. Subject to the following, all unpaid accounts payable due from the Hotel and all expenses payable by the Hotel (not including, for instance, accounts payable by, and expenses of, guests, patrons, and/or customers) accrued prior to the Closing and relating to operations of the Property prior to the Closing shall be paid by Seller. Buyer alone shall be responsible for all accounts payable related to Personal Property, Service Contracts, or otherwise to the extent not yet delivered, or services, to the extent not yet rendered, as of the Closing, providing the same are incurred in the ordinary course of business, and such Personal Property, Service Contracts or other items are delivered and/or such services rendered, after the Closing. In addition to the foregoing, all accounts payable and expenses relating to operations of the Property after Closing will be paid by Buyer. Prepaid expenses with respect to all such items as of the Closing Date shall be prorated and credited to Seller.
Accounts Payable and Expenses. Subject to Section 13.0, all accrued but unpaid accounts payable and expenses relating to operations of the Property (i.e., accounts payable and expenses arising from items not a part of inventory (e.g., energy, utilities, insurance, trade association dues, subscriptions, etc.) or services provided (e.g., by employees, independent contractors, professionals and other consultants, by vendors pursuant to service contracts, etc.) before the Closing shall be paid by Seller. Notwithstanding anything to the contrary, there shall be no proration of prepaid advertising. The determination of the accounts payable shall be made as of the Closing to the extent known. Prepaid expenses concerning all such items as of the Closing shall be credited to Seller. All accounts payable and expenses relating to operations of the Property after the Closing will be paid by Purchaser.
Accounts Payable and Expenses. All accounts payable and expenses related to operations of the Property which have accrued before the Transfer Time shall be paid by Seller. All accounts payable and expenses arising after the Transfer Time or which are incurred by or at the direction of Buyer outside of this Agreement shall be paid by Buyer. In addition, Seller shall be responsible for paying the Seller's Payables.
Accounts Payable and Expenses. All accounts payable and expenses related to operations of the Property which have accrued before the Transfer Time shall be paid by Sellers. Buyer understands and agrees that Sellers may postpone and/or contest payment of any account payable or expense which is the subject of a bona fide dispute, or for which a xxxx is not rendered until after Closing. All accounts payable and expenses accruing after the Transfer Time will be Buyer’s responsibility. Section 4.07 2005 Capital Expenditure and Property Improvement Plan Expenses.» Sellers agree that in the event Sellers do not expend Three Million Five Hundred Thousand and No/100 Dollars ($3,500,000.00) on capital expenditures (including PIPs) on Hotels (other than the PIPs contemplated in section 2.06 hereof) between January 1, 2005 and the Closing Date, the sum representing the difference between Three Million Five Hundred Thousand and No/100 Dollars ($3,500,000.00) and the capital expenditures made by Sellers shall remain in reserve accounts at Closing for the benefit of, and be the property of, Buyer. Buyer shall not be obligated to reimburse Sellers for, or to pay for, such sums. 21
