Booking Deposits. Existing Members and Investor shall receive a credit at Closing for advance payments and deposits, if any, under Bookings to the extent the Bookings relate to a period after the Closing Proration Time in proportion with their respective Pro Rata Shares. Investor acknowledges that Company shall assume and honor for its account all Bookings relating to dates after the Closing Proration Time provided that Existing Members provide a written account to Investor of all such Bookings at the Closing.
Appears in 2 contracts
Samples: Contribution Agreement, Contribution Agreement (Intercontinental Hotels Group PLC /New/)
Booking Deposits. Existing Members and Investor Buyer shall receive a credit at Closing for advance payments and deposits, if any, under Bookings to the extent the Bookings relate to a period after the Closing Proration Time in proportion with their respective Pro Rata SharesTime. Investor acknowledges that Company Buyer shall assume and honor for its account all Bookings relating to dates after the Closing Proration Time provided that Existing Members provide Seller provides a written account to Investor Buyer of all such Bookings at the Closing.
Appears in 1 contract
Samples: Hotel Purchase and Sale Agreement (Chesapeake Lodging Trust)
Booking Deposits. Existing Members and Investor Buyer shall receive a credit at Closing for advance payments and deposits (including security or similar deposits), if any, under Bookings to the extent the Bookings relate to a period after the Closing Proration Time in proportion with their respective Pro Rata SharesTime. Investor acknowledges that Company Buyer shall assume and honor for its account all Bookings relating to dates after the Closing Proration Time provided that Existing Members provide Seller provides a written account to Investor Buyer of all such Bookings at the Closing.. Purchase Agreement
Appears in 1 contract
Samples: Purchase and Sale Agreement (ESH Hospitality, Inc.)
