Credit for Reservation Deposits. Purchaser shall receive a proration credit equal to the aggregate amount of advance deposits that shall have been received by Seller prior to the Cut-Off Time on account of reservations for use or occupancy of the Property after the Cut-Off Time.
Appears in 5 contracts
Samples: Purchase and Sale Agreement (Morgans Hotel Group Co.), Purchase and Sale Agreement (Morgans Hotel Group Co.), Purchase and Sale Agreement (Pebblebrook Hotel Trust)
Credit for Reservation Deposits. Purchaser Buyer shall receive a proration credit equal to the aggregate amount of advance cash (including credit card charges that have been paid by the applicable credit card company) deposits that shall have been actually received by Seller prior to the Cut-Off Time on account of reservations Bookings for the use or occupancy of the Property Hotel after the Cut-Off Time.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Blackstone Real Estate Income Trust, Inc.)
Credit for Reservation Deposits. Purchaser shall receive a proration credit equal to the aggregate amount of advance deposits that shall have been received by Seller prior to the Cut-Off Time on account of reservations for use or occupancy of the Property after the Cut-Off Time.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Procaccianti Hotel Reit, Inc.)
Credit for Reservation Deposits. Purchaser shall receive a proration credit equal to the aggregate amount of advance deposits that shall have been received by Seller prior to the Cut-Off Time on account of reservations for use or occupancy of the Property after the Cut-Off Time, including any such advance deposits that may have been forfeited prior to the Cut-Off Time. Purchaser shall also be entitled to collect any cancellation fees owed for reservations for use and occupancy of the Property after the Cut-Off Time.
Appears in 1 contract
Samples: Purchase and Sale Agreement (LaSalle Hotel Properties)
Credit for Reservation Deposits. Purchaser Buyer shall receive a proration credit equal to the aggregate amount of advance deposits that shall have been received by or on behalf of Seller prior to the Cut-Off Time on account of reservations for use or occupancy of the Property after the Cut-Off Time.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Behringer Harvard Opportunity REIT I, Inc.)
