Distributions of Excess Cash. The Owner agrees that no distributions of cash to Owner or any other party designated by Owner from the Operating Account except in accordance with the following: Full payment of the following items in the following order has occurred:
Appears in 4 contracts
Samples: Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Management Agreement (Procaccianti Hotel Reit, Inc.)
Distributions of Excess Cash. The Owner agrees that no distributions of cash to Owner or any other party designated by Owner from the Operating Account except in accordance with the following: Management Agreement - Page 21 Full payment of the following items in the following order has occurred:
Appears in 1 contract
Samples: Hotel Management Agreement (Procaccianti Hotel Reit, Inc.)
