Assigned Operating Agreements Sample Clauses
Assigned Operating Agreements. (a) All income and expenses with respect to the assigned Operating Agreements will be prorated as of the Closing Date (with income and expenses for the Closing Date and thereafter to be allocated to Buyer). There shall be added to the amount due to Sellers at Closing, on the Closing Statement, the amount of any amounts paid by Sellers under any Operating Agreements attributable to periods including and after the Closing Date, and there shall be deducted from the amount due Sellers at Closing, on the Closing Statement, any such amounts paid to and collected by Sellers under any Operating Agreements attributable to periods including and after the Closing Date.
(b) Sellers shall be responsible for all management fees and other amounts payable or reimbursable under the Assumed Management Agreements that accrue for the period prior to the Closing Date, including, without limitation, any accrued incentive fees under the Assumed Management Agreements. Buyer shall be responsible for all management fees and other amounts payable or reimbursable under the Assumed Management Agreements that accrue for the period from and after the Closing Date, including, without limitation, any incentive fees that accrue to the period from and after the Closing Date under the Assumed Management Agreements.
Assigned Operating Agreements. All Operating Agreements to the extent the same and the deposits held thereunder are transferable or the Parties obtain any consent necessary to effectuate such a transfer (each, an “Assigned Operating Agreement” and, collectively, the “Assigned Operating Agreements”);
Assigned Operating Agreements. All income and expenses with respect to the assigned Operating Agreements will be prorated as of the Closing Date (with income and expenses for the Closing Date and thereafter to be allocated to the Partnership). There shall be added to the amount due to the Wolf Partner(s) at Closing, on the Closing Statement, the amount of any amounts paid by Wolf or the Wolf Partner(s) under any Operating Agreements attributable to periods including and after the Closing Date, and there shall be deducted from the amount due Wolf or the Wolf Partner(s) at Closing, on the Closing Statement, any such amounts paid to and collected by Wolf or the Wolf Partner(s) under any Operating Agreements attributable to periods including and after the Closing Date.
Assigned Operating Agreements. All income and expenses with respect to the assigned and assumed Operating Agreements will be prorated as of the Closing Date (with income and expenses for the Closing Date and thereafter to be allocated to Buyer). There shall be added to the amount due to Seller at Closing, on the Closing Statement, the amount of any rents paid for periods following the Closing Date, security deposits, or other deposits previously paid by Seller under any assigned Operating Agreements, and there shall be deducted from the amount due Seller at Closing, on the Closing Statement, any such amounts paid to and collected by Seller under any Operating Agreements.
Assigned Operating Agreements. All Operating Agreements other than the National/Regional Operating Agreements, to the extent the same and the deposits held thereunder are transferable or the Parties obtain any consent necessary to effectuate such a transfer (the “Assigned Operating Agreements”). Notwithstanding the foregoing, Purchaser acknowledges that (i) certain Operating Agreements are in the name of Western Host, Inc., an Illinois corporation that is an Affiliate of Seller, (ii) such Operating Agreements will continue to be utilized in the Business at the Hotel after Closing, and Purchaser or its Affiliate shall be responsible for all costs and expenses related thereto, pursuant and subject to the terms of the New Management Agreement, and (iii) such Operating Agreements shall be deemed assumed by Purchaser at the time that the Liquor Licenses and Liquor-Related Licenses held by Western Host, Inc. are transferred to Purchaser or its Affiliate or new Liquor Licenses and Liquor Related Licenses are issued to Purchaser or its Affiliate;
Assigned Operating Agreements. Other than the Operating Agreements listed on Schedule 2.1.10 (the “Excluded Operating Agreements”) and the deposits held thereunder, all Operating Agreements and the deposits (to the extent such deposits are transferable or subject to providing a credit therefor pursuant to Article XI) held thereunder (the “Assigned Operating Agreements”);
Assigned Operating Agreements. (a) All income and expenses with respect to the assigned Operating Agreements will be prorated as of the Closing Date (with income and expenses for the Closing Date and thereafter to be allocated to Buyer). There shall be added to the amount due to Buyer at Closing, on the Closing Statement, the amount of any prepaid rents applicable to periods following Closing, security deposits, or other deposits previously paid to Sellers (or for which Buyer will otherwise be liable) under any assigned Operating Agreements, and there shall be deducted from the amount due Sellers at Closing, on the Closing Statement, any such amounts paid to and collected by Sellers (or for which Buyer will otherwise be liable) under any Operating Agreements attributable to periods including and after the Closing Date.
(b) Sellers shall be responsible for all management fees and other amounts payable or reimbursable under the Management Agreements that accrue prior to or subsequent to Closing, including without limitation any accrued incentive fees and any Management Termination Fees.
Assigned Operating Agreements. All Operating Agreements to the extent they and the deposits held thereunder are transferable or the Parties obtain any consent necessary to effectuate such a transfer, which Buyer is obligated under Section 4.3 to assume at Closing (each, an “Assigned Operating Agreement” and, collectively, the “Assigned Operating Agreements”). The Operating Agreements currently in effect are more particularly described on Schedule 2.1.5 attached to this Agreement;