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.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Ashford Hospitality Trust Inc), Agreement of Purchase and Sale (CNL Hotels & Resorts, Inc.)
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 bill is not rendered until after Closing. All accounts payable and expenses exxxxses accruing after the Transfer Time will be Buyer’s 's responsibility.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Ashford Hospitality Trust Inc)
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 xxxx is not rendered until after Closing. All accounts payable and expenses accruing after the Transfer Time will be Buyer’s responsibility.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (CNL Hotels & Resorts, Inc.)