Collection of Gross Receipts Sample Clauses

Collection of Gross Receipts. Parking Operator shall completely and accurately account for all Gross Receipts generated from the parking Facilities. Parking Operator shall collect, count, record, and hold all Gross Receipts received by it in trust for the City, until deposited daily to an HAS bank account.
Sample 1Sample 2
AutoNDA by SimpleDocs
Collection of Gross Receipts. Subject to the terms and conditions hereof, Administrator shall be entitled, on an exclusive basis, to receive and collect and shall employ best efforts consistent with its reasonable business judgment to receive and collect all Gross Receipts (as defined in paragraph 2.01 hereof).
Sample 1Sample 2
Collection of Gross Receipts. If the certification described in this Section 4.o above indicates that any of the gross receipts required to be collected by the Contractor hereunder have not been so collected, the Contractor shall forthwith pay to the Owner a sum equal to the difference between the amount of such gross receipts which should have been collected and/or deposited together with interest thereon at the rate of eighteen percent (18%) per annum from the date such amount was underpaid and the amount of such gross receipts actually collected and/or deposited. This paragraph shall survive termination or expiration of this Agreement.
Sample 1
Collection of Gross Receipts. Concessionaire shall collect all proceeds from the provision of Catering Services hereunder and will maintain accurate records and reports with respect to such proceeds (categorized into such categories as Concessionaire may reasonably require) and deposit such proceeds on a daily basis into such account(s) as Concessionaire may require. In so doing Concessionaire shall institute such security, inventory, supplies and alcohol control procedures as City may required insuring the accurate accounting for and deposit of funds and preservation of inventory, supplies and alcohol.
Sample 1
Collection of Gross Receipts. Bus Operator shall completely and accurately account for all Gross Receipts generated from Bus Operator’s services at the Airports. Bus Operator shall collect, count, record, and hold all Gross Receipts received by it in trust for the City, until deposited daily to the designated HAS bank account.
Sample 1
Collection of Gross Receipts. The Master Distributor shall be responsible for entering into Distribution Agreements which provide for the collection, tracking, holding and remitting of all Gross Receipts in accordance with the terms of this Agreement. The Master Distributor shall exercise the same degree of diligence and skill in the performance of its duties hereunder as it applies to its own property, and shall take or cause to be taken all such actions as may be necessary or desirable to collect such Gross Receipts from time to time, all in accordance with applicable Law. The Master Distributor shall (A) instruct all Subdistributors and other obligors to cause all monies constituting Gross Receipts which are payable to the Master Distributor pursuant to the terms of any Distribution Agreement to be remitted by such Subdistributor or other obligor directly to the Collection Account, and (B) with respect to any monies constituting Gross Receipts received by the Master Distributor or any other Marvel Company, cause such monies to be deposited into the Collection Account within two (2) Business Days of such Person’s receipt of the same. The Master Distributor may, in its sole discretion, but shall not be obligated to, make advances (“Master Distributor Advances”) to the Collection Account for purposes of making the payments described in Section 3.01(c) of the Credit Agreement, provided, that no such Master Distributor Advance shall be made unless the Master Distributor reasonably believes that such Master Distributor Advance will be subsequently recouped under Section 3.01(c)(ii) of the Credit Agreement.
Sample 1
Collection of Gross Receipts. 11 2.6 Performance and Amendment of Agreements, Etc................................. 11 2.7
Sample 1
AutoNDA by SimpleDocs
Collection of Gross Receipts. (A) Borrower shall contractually require Sales Agent to contractually require all Distributors to pay all Gross Receipts, including all payments of the Minimum Guarantee under Sales Agent Agreement, directly to the Collection Account or to Agent for deposit into the Collection Account, for the benefit of Agent and Lenders.
Sample 1
Collection of Gross Receipts. The Master Distributor shall be responsible for entering into Distribution Agreements which provide for the collection, tracking, holding and remitting of all Gross Receipts in accordance with the terms of this Agreement. The Master Distributor shall exercise the same degree of diligence and skill in the performance of its duties hereunder as it applies to its own property, and shall take or cause to be taken all such actions as may be necessary or desirable to collect such Gross Receipts from time to time, all in accordance with applicable Law. The Master Distributor shall (A) instruct all Subdistributors and other obligors to cause all monies constituting Gross Receipts which are payable to the Master Distributor pursuant to the terms of any Distribution Agreement to be remitted by such Subdistributor or other obligor directly to the Collection Account, provided however that Reserved Foreign Gross Receipts shall be remitted instead by such Subdistributor or other obligor directly to the Reserved Foreign Collection Account and (B) with respect to any monies constituting Gross Receipts received by the Master Distributor or any other Marvel Company, cause such monies (i) with respect to Reserved Foreign Gross Receipts, to be deposited into the Reserved Foreign Collection Account and (ii) with respect to all other Gross Receipts, to be deposited in the Collection Account, respectively, within two (2) Business Days of such Person’s receipt of the same. Notwitstanding the foregoing or any other provision of the Transaction Documents, the Master Distributor shall have the right to: (i) deduct or cause its Subdistributors to deduct from Reserved Foreign Gross Receipts and reimburse the Master Distributor all MPROD Distribution Expenses with respect to the Reserved Territories (as defined on Exhibit B hereto); and (ii) deduct or cause its Subdistributors to deduct from all other Gross Receipts and reimburse the Master Distributor all MPROD Distribution Expenses with respect to the Territory (as defined in the Paramount Output Agreement) other than the Reserved Territories. Reimbursements for MPROD Distribution Expenses pursuant to the preceding sentence shall be paid to the Master Distributor at the Master Distributor Account. The Master Distributor is under no obligation to expend any MPROD Distribution Expenses and any amount that the Master Distributor is reimbursed hereunder with respect to a MPROD Distribution Expense may distributed by the Master Distributo...
Sample 1

Related to Collection of Gross Receipts

  • Gross Revenues All revenues, receipts, and income of any kind derived directly or indirectly by Lessee from or in connection with the Hotel (including rentals or other payments from tenants, lessees, licensees or concessionaires but not including their gross receipts receipts and not including rentals or other payments under Space Leases) whether on a cash basis or credit, paid or collected, determined in accordance with generally accepted accounting principles, excluding, however: (i) funds furnished by Lessor, (ii) federal, state and municipal excise, sales, and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes and paid over to federal, state or municipal governments, (iii) the amount of all credits, rebates or refunds to customers, guests or patrons, and all service charges, finance charges, interest and discounts attributable to charge accounts and credit cards, to the extent the same are paid to Lessee by its customers, guests or patrons, or to the extent the same are paid for by Lessee to, or charged to Lessee by, credit card companies, (iv) gratuities or service charges actually paid to employees, (v) proceeds of insurance and condemnation, (vi) proceeds from sales other than sales in the ordinary course of business, (vii) all loan proceeds from financing or refinancings of the Hotel or interests therein or components thereof, (viii) judgments and awards, except any portion thereof arising from normal business operations of the Hotel, and (ix) items constituting “allowances” under the Uniform System.

  • Collect Revenues, Apply Accounts Lender, either itself or through a receiver, may collect the payments, rents, income, and revenues from the Collateral. Lender may at any time in Lender’s discretion transfer any Collateral into Lender’s own name or that of Lender’s nominee and receive the payments, rents, income, and revenues therefrom and hold the same as security for the Indebtedness or apply it to payment of the Indebtedness in such order of preference as Lender may determine. Insofar as the Collateral consists of accounts, general intangibles, insurance policies, instruments, chattel paper, choses in action, or similar property, Lender may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Collateral as Lender may determine, whether or not Indebtedness or Collateral is then due. For these purposes, Lender may, on behalf of and in the name of Grantor, receive, open and dispose of mail addressed to Grantor; change any address to which mail and payments are to be sent; and endorse notes, checks, drafts, money orders, documents of title, instruments and items pertaining to payment, shipment, or storage of any Collateral. To facilitate collection, Lender may notify account debtors and obligors on any Collateral to make payments directly to Lender.

  • Collection of Accounts Receivable At Closing, Seller will deliver Seller's existing accounts receivable on the Accounts Receivable List. Such Accounts Receivable List will be used by Buyer for purposes of collection only for the period of one hundred twenty (120) days immediately following Closing (the "Collection Period"). Acting as Seller's agent, during the Collection Period Buyer shall have the exclusive right to and shall make commercially reasonable efforts to collect Seller's accounts receivable listed on the Accounts Receivable List, but shall not be required to expend or advance any of its funds, to locate any debtor, or to institute or defend any suit, action, claim, or counterclaim in any legal or equitable proceeding. Under no circumstances shall Buyer be required to engage counsel or any outside collection agency or facility in collecting Seller's accounts receivable. Payments received on an account from any customer of Buyer that is an account debtor for an account of Seller on the Accounts Receivable List shall be applied first to the Seller's account on such list, unless such customer shall designate some other application of such payment or shall contest the account receivable, in which case Buyer shall promptly notify Seller of such designation or contest and return to Seller the account relating to such customer and thereafter shall have no further obligation with respect thereto. If Seller requests, Buyer also shall promptly return to Seller any account of Seller that is over 90 days old, and Buyer shall have no further obligation with respect to such account. Buyer shall transmit all monies collected on Seller's accounts receivable to Seller within fifteen (15) days after the end of each month in which such monies are collected. Upon expiration of the Collection Period, Buyer shall be relieved of all responsibility for, or to attempt collection of, Seller's accounts receivable, and thereafter Seller alone shall be responsible for collection of any balances due on such accounts. Within twenty (20) days after expiration of the Collection Period, Buyer will make final payment to Seller of the amounts collected on Seller's accounts and shall return to Seller each then uncollected Seller's account together with a final statement of the accounts outstanding.

  • Collection of Accounts; Payments (a) Subject to the following sentence, each Loan Party shall make collection of all of its Accounts and other Collateral for the Agent. Within ninety (90) days after the Closing Date, each Loan Party shall have established a Payment Account and a related lock-box service for collections of its Accounts at the Bank or another Clearing Bank acceptable to the Agent and, in each case, subject to a Blocked Account Agreement and other documentation acceptable to the Agent and shall have instructed each Account Debtor to make all payments directly to such Payment Account or to the address established for such lock-box service and shall provide evidence to the Agent, satisfactory to the Agent, that such instructions have been given. If, notwithstanding such instructions, a Loan Party receives any proceeds of Accounts or if a Loan Party receives any payments on account of any other Collateral or any other payments of any source, it shall immediately (and not less often then daily) deliver such payments to the Agent in their original form or deposit such payments into the applicable Payment Account or to another deposit account from which funds are transferred daily into a Payment Account. Until the occurrence of a Combined Availability Threshold Event or an Event of Default, the Loan Parties shall have sole dominion and control of the transfer of funds from the Payment Account and such lock-box. All collections and other payments received in any such lock-box or Payment Account or directly by a Loan Party or the Agent and all funds in any Payment Account or other deposit account to which such collections or payments are deposited shall, upon the occurrence of a Combined Availability Threshold Event or an Event of Default, be subject to the Agent's sole dominion and control and withdrawals by the applicable Loan Party shall not be permitted until a Cash Control Termination Event occurs. The Agent or the Agent's designee may, at any time after the occurrence of a Combined Availability Threshold Event or an Event of Default and until a Cash Control Termination Event occurs, notify Account Debtors of a Loan Party that the Accounts of such Loan Party have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. Upon the occurrence of a Combined Availability Threshold Event or an Event of Default and until a Cash Control Termination Event occurs, each Loan Party, at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office lock-box in which collections of Accounts of such Loan Party are received, and if any payments are received by any Loan Party, such Loan Party shall receive all payments as the Agent's trustee, and shall immediately deliver all payments in their original form duly endorsed in blank into a Payment Account established for the account of such Loan Party, subject to a Blocked Account Agreement. To the extent that the Agent has dominion and control of any Payment Accounts under the DIP Loan Agreement on the Closing Date, the Agent shall release such control and dominion as long as Combined Availability Threshold Event or an Event of Default does not exist as of the Closing Date.

  • Collections All collections of monies or other property in respect, or which are to become part, of the Property (but not the safekeeping thereof upon receipt by PFPC Trust) shall be at the sole risk of the Fund. If payment is not received by PFPC Trust within a reasonable time after proper demands have been made, PFPC Trust shall notify the Fund in writing, including copies of all demand letters, any written responses and memoranda of all oral responses and shall await instructions from the Fund. PFPC Trust shall not be obliged to take legal action for collection unless and until reasonably indemnified to its satisfaction. PFPC Trust shall also notify the Fund as soon as reasonably practicable whenever income due on securities is not collected in due course and shall provide the Fund with periodic status reports of such income collected after a reasonable time.

  • Net Sales Proceeds In the case of a transaction described in clause (A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (B) of such definition, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (C) of such definition, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (E) of such definition, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in the last sentence of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one or more Assets within 180 days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company in connection with such transaction or series of transactions. Net Sales Proceeds shall also include any consideration (including non-cash consideration such as stock, notes, or other property or securities) that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale, valued in the reasonable determination of the Company. Net Sales Proceeds shall not include any reserves established by the Company in its sole discretion.

  • Collections Payment Processing Remittance (a) Collection Efforts, Policies, Procedures.

  • Refunds and Remittances After the Closing, if Ashland or any of its affiliates receive any refund or other amount which is a Transferred Asset or is otherwise properly due and owing to HoldCo or any of its affiliates in accordance with the terms of this Agreement, Ashland promptly shall remit, or shall cause to be remitted, such amount to HoldCo. After the Closing, if HoldCo or any of its affiliates receive any refund or other amount which is an Excluded Asset or is otherwise properly due and owing to Ashland or any of its affiliates in accordance with the terms of this Agreement, HoldCo promptly shall remit, or shall cause to be remitted, such amount to Ashland. After the Closing, if HoldCo or any of its affiliates receive any refund or other amount which is related to claims (including workers' compensation), litigation, insurance or other matters for which Ashland or any of its affiliates is responsible hereunder, and which amount is not a Transferred Asset, or is otherwise properly due and owing to Ashland or any of its affiliates in accordance with the terms of this Agreement, HoldCo promptly shall remit, or cause to be remitted, such amount to Ashland. After the Closing, if Ashland or any of its affiliates receive any refund or other amount which is related to claims (including workers' compensation), litigation, insurance or other matters for which HoldCo or any of its affiliates is responsible hereunder, and which amount is not an Excluded Asset, or is otherwise properly due and owing to HoldCo or any of its affiliates in accordance with the terms of this Agreement, Ashland promptly shall remit, or cause to be remitted, such amount to HoldCo.

Time is Money Join Law Insider Premium to draft better contracts faster.