Common use of Accounts Receivable (Other than Guest Ledger) Clause in Contracts

Accounts Receivable (Other than Guest Ledger). (i) On the Closing Date, Seller shall assign to Buyer all Accounts Receivable that are past due as of the Closing Date (the “Assigned Accounts Receivable”). Buyer shall pay to Seller an amount equal to the Assigned Accounts Receivable that are up to and including thirty (30) days past due as of the Closing Date, an amount equal to seventy five percent (75%) of all Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more than one hundred twenty (120) days past due as of the Closing Date. Buyer shall have the sole right to collect and retain all such Assigned Accounts Receivable. If any Assigned Accounts Receivable are paid to Seller after the Closing, then Seller shall pay to Buyer the amounts received by Seller within ten (10) Business Days after receipt of such amounts without any commission or deduction for Seller.

Accounts Receivable (Other than Guest Ledger). (i) On the Closing DateAt Closing, Seller shall assign receive a credit for all Accounts Receivable (other than the Guest Ledger which is addressed in Section 11.3.1) which are unpaid for less than ninety (90) days, and Purchaser shall be entitled to Buyer all amounts collected for such Accounts Receivable. Seller shall retain the right to collect all Accounts Receivable that are past due as of the Closing Date unpaid for ninety (90) days or more (the “Assigned Aging Receivables”), and Purchaser shall not receive a credit for the Aging Receivables. Purchaser shall cooperate with Seller in collecting the Aging Receivables, at no cost or expense to Purchaser other than any de minimis cost and expense or any cost or expense which Seller agrees in writing to reimburse. Any amounts received by either Party shall be applied first against the oldest Accounts Receivable”), including any Aging Receivables, outstanding for the Person paying such amounts. Buyer If any Aging Receivables are paid to Purchaser after the Closing, Purchaser shall pay to Seller an amount equal to the Assigned Accounts Receivable that are up to and including thirty (30) days past due as of the Closing Date, an amount equal to seventy five percent (75%) of all Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more than one hundred twenty (120) days past due as of the Closing Date. Buyer shall have the sole right to collect and retain all such Assigned Accounts Receivable. If any Assigned Accounts Receivable are paid to Seller after the Closing, then Seller shall pay to Buyer the amounts received by Seller Aging Receivables within ten (10) Business Days days after Purchaser’s receipt of such amounts Aging Receivables, without any commission or deduction for SellerPurchaser.

Accounts Receivable (Other than Guest Ledger). (i) On the Closing Date, Date Seller shall assign to Buyer all Accounts Receivable that are 90 days or less past due as of the Closing Date Cut-Off Time (the “Assigned Accounts Receivable”). , and Buyer shall pay to Seller an amount equal to the sum of the following for all Accounts Receivable: (i) 100% of all the Assigned Accounts Receivable that are up to and including thirty 30 days or less past due as of the Cut-Off Time; (30ii) 90% of all the Assigned Accounts Receivable that are 31-60 days past due as of the Closing Date, an amount equal to seventy five percent Cut-Off Time; and (75%iii) 50% of all the Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) 61-90 days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more than one hundred twenty (120) days past due as of the Closing DateCut-Off Time. Buyer shall have the sole right to collect and retain all such Assigned Accounts Receivable. After Closing, Seller shall retain the right to collect all Accounts Receivable other than the Assigned Accounts Receivable (the “Retained Accounts Receivable”). Seller shall have the sole right to collect the Retained Accounts Receivable. If after Closing (i) any Assigned Retained Accounts Receivable are paid to Seller after Buyer or (ii) Buyer collects more than the Closingapplicable percentage of the face amount of any applicable Assigned Accounts Receivable, then Seller Buyer shall pay to Buyer the Seller such amounts received by Seller within ten (10) Business Days after receipt of such amounts without any commission or deduction for Sellerdeduction.

Accounts Receivable (Other than Guest Ledger). (i) On At the Closing DateClosing, Seller shall assign receive a credit for, and Purchaser shall purchase from Seller, all Accounts Receivable (other than the Guest Ledger which is addressed in Section 10.2(a)), that are less than ninety (90) days past due, and Purchaser shall be entitled to Buyer all amounts collected for such Accounts Receivable. Such credit shall equal the amount of the Accounts Receivable. Accounts Receivable that are past due for ninety (90) days or more are referred to as of the Closing Date (the “Assigned Older Accounts Receivable”). Buyer Purchaser shall not be entitled to any amounts collected for Older Accounts Receivable. Purchaser shall cause Manager to cooperate with Seller in collecting the Older Accounts Receivable, at no cost or expense to Purchaser other than any de minimis cost and expense or any cost or expense which Seller agrees in writing to reimburse. If any Older Accounts Receivable (as so designated by the obligor) are paid to Purchaser after the Closing, Purchaser shall pay to Seller an amount equal to the Assigned Accounts Receivable that are up to and including thirty (30) days past due as of the Closing Date, an amount equal to seventy five percent (75%) of all Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more than one hundred twenty (120) days past due as of the Closing Date. Buyer shall have the sole right to collect and retain all such Assigned Accounts Receivable. If any Assigned Accounts Receivable are paid to Seller after the Closing, then Seller shall pay to Buyer the amounts received by Seller Purchaser within ten (10) Business Days days after receipt of such amounts amounts, without any commission or deduction for SellerPurchaser.

Accounts Receivable (Other than Guest Ledger). (i) On the Closing Date, Seller shall assign to Buyer receive a credit as of the Prorations Date for, and Purchaser shall purchase from Seller, all Accounts Receivable (other than the Guest Ledger) that are past due as of the Closing Date (the “Assigned Accounts Receivable”). Buyer shall pay to Seller an amount equal to the Assigned Accounts Receivable that are up to and including thirty (30) days past due as of the Closing Date, an amount equal to seventy five percent (75%) of all Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more less than one hundred twenty (120) days past due as due. Such credit shall equal the amount of the Closing DateAccounts Receivable, less (i) credit card charges, travel company charges and similar commissions and (ii) on all accounts receivable other than credit card receivables, a discount for uncollectible amounts based on the Hotel’s historic reserve for uncollectible amounts for receivables that are less than one hundred twenty (120) days past due. Buyer Accounts Receivable that are past due for one hundred twenty (120) days or more are referred to as “Older Accounts Receivable”. Purchaser shall have the sole right not be entitled to collect and retain all such Assigned any amounts collected for Older Accounts Receivable. Purchaser shall cooperate with Seller in collecting the Older Accounts Receivable, at no cost or expense to Purchaser other than any de minimis cost and expense or any cost or expense which Seller agrees in writing to reimburse. If any Assigned Older Accounts Receivable are paid to Seller Purchaser after the Closing, then Seller Purchaser shall pay to Buyer Seller the amounts received by Seller Purchaser within ten (10) Business Days days after receipt of such amounts amounts, without any commission or deduction for Seller.Purchaser

Accounts Receivable (Other than Guest Ledger). (i) On the Closing DateAt Closing, Seller shall assign receive a credit for all Accounts Receivable (other than the Guest Ledger which is addressed in Section 11.3.1) which are unpaid for less than ninety (90) days, and Purchaser shall be entitled to Buyer all amounts collected for such Accounts Receivable. Seller shall retain the right to collect all Accounts Receivable that are past due as of the Closing Date unpaid for ninety (90) days or more (the “Assigned Aging Receivables”), and Purchaser shall not receive a credit for the Aging Receivables. Purchaser shall cooperate with Seller in collecting the Aging Receivables, at no cost or expense to Purchaser other than any de minimis cost and expense or any cost or expense which Seller agrees in writing to reimburse. Any amounts received by either Party shall be applied first against the oldest Accounts Receivable”), including any Aging Receivables, outstanding for the Person paying such amounts; provided, however, that if the payor has designated the invoice against which the amount received should be applied, such amount shall be applied to the Accounts Receivable reflected in such invoice. Buyer If any Aging Receivables are paid to Purchaser after the Closing, Purchaser shall pay to Seller an amount equal to the Assigned Accounts Receivable that are up to and including thirty (30) days past due as of the Closing Date, an amount equal to seventy five percent (75%) of all Assigned Accounts Receivable that are more than thirty (30) days and up to and including sixty (60) days past due as of the Closing Date, and an amount equal to thirty five percent (35%) of all Assigned Accounts Receivable that are more than sixty (60) days and up to and including one hundred twenty (120) days past due as of the Closing Date. Buyer shall not credit to Seller any amounts for Accounts Receivable more than one hundred twenty (120) days past due as of the Closing Date. Buyer shall have the sole right to collect and retain all such Assigned Accounts Receivable. If any Assigned Accounts Receivable are paid to Seller after the Closing, then Seller shall pay to Buyer the amounts received by Seller Aging Receivables within ten (10) Business Days days after Purchaser’s receipt of such amounts Aging Receivables, without any commission or deduction for SellerPurchaser.