Common use of Adjusted Gross Revenues Clause in Contracts

Adjusted Gross Revenues. Gross Revenues less (to the extent such items have been included in Gross Revenues): (i) gratuities or service charges added to a customer’s xxxx; (ii) credits or refunds made to customers, guests or patrons; (iii) sums and credits (other than those already excluded from Gross Revenues) received by Owner for lost or damaged merchandise; (iv) sales taxes, excise taxes, use taxes, gross receipts taxes, admission taxes, entertainment taxes, tourist taxes or charges, and similar charges required by law to be collected from patrons or guests or as part of the sale price for goods, services or entertainment which must be remitted to governmental authorities; (v) proceeds from the sale or other disposition of the Hotel, Furnishings and Equipment or other assets of the Hotel; (vi) interest paid with respect to the Reserve Fund or any Bank Accounts; (vii) fire and extended coverage insurance proceeds or other insurance proceeds payable in connection with any property casualty loss; (viii) condemnation awards; and (ix) proceeds of financing or refinancing of the Hotel.