Cash Management After the Distribution Date. All xxxxx cash, depository and disbursement accounts of Hilton (other than the Gaming Group Cash Accounts) shall be retained by Hilton. The Gaming Group Cash Accounts shall be transferred to Park Place, and Park Place shall establish and maintain a separate cash management system and separate accounting records with respect to the Gaming Group Business effective as of 12:01 a.m. New York time on the day following the Distribution Date.
Appears in 2 contracts
Samples: Distribution Agreement (Hilton Hotels Corp), Distribution Agreement (Park Place Entertainment Corp)
Cash Management After the Distribution Date. All xxxxx cash, depository and disbursement accounts of Hilton (other than the Gaming Group Cash Accounts) shall be retained by Hilton. The Gaming Group Cash Accounts shall be transferred to Park PlaceGaming Co., and Park Place Gaming Co. shall establish and maintain a separate cash management system and separate accounting records with respect to the Gaming Group Business effective as of 12:01 a.m. New York time on the day following the Distribution Date.
Appears in 2 contracts
Samples: Merger Agreement (Hilton Hotels Corp), Distribution Agreement (Park Place Entertainment Corp)
