Amounts Due; Receivables Clause Samples

Amounts Due; Receivables. All accrued and unpaid fees, charges, reimbursements, and other payments due Operator under this Agreement as of the date of termination (including but not limited to any portion of any Operating Fees, and any portion of any Compensation and any other Reimbursable Expenses) shall be paid by Owner to Operator within ten (10) days after the remittance to Owner by Operator of statements therefor. All accrued unpaid amounts, charges, reimbursements, and other payments due Owner by Operator pursuant to this Agreement shall be paid by Operator to Owner within thirty (30) days of termination or expiration of the applicable agreement. The Operating Account and any remaining funds therein after payment of the foregoing shall be promptly transferred to Owner. All receivables of the Condo-Hotel outstanding as of the effective date of termination, including, without limitation, guest ledger receivables, shall continue to be the property of Owner.

Amounts Due; Receivables. All accrued unpaid fees, charges, reimbursements, and other payments due Operator as of the date of termination (including but not limited to any portion of any Annual Operating Fee, Compensation and any Out-of-Pocket Costs) shall be paid by Owner to Operator within ten (10) days after the remittance to Owner by Operator of statements therefor. All other accrued and unpaid amounts, charges, reimbursements, and other payments due from Owner pursuant to this Agreement shall be paid by Owner to Operator within thirty (30) days of termination or expiration, including, without limitation, Owner’s payment of (i) the Termination Fee, if due pursuant to this Article 9 and (ii) all other sums due and owing to Operator as set forth in the preceding sentence. All Operating Accounts and any remaining funds therein after payment of the foregoing shall be transferred to Owner. All receivables of the Hotel outstanding as of the effective date of termination, including, without limitation, guest ledger receivables, shall continue to be the property of Owner. Operator will reasonably cooperate with Owner, at Owner’s sole cost and expense, in the collection of any such outstanding receivables and will remit to Owner any amounts collected directly by Operator after the effective date of termination which relate to such receivables less any amount outstanding due Operator. At termination, Owner shall be responsible for all liabilities and payment of Operating Expenses.