Event Account. To the extent the Facility hosts a ticketed event and collects advance ticket sale revenue and/or admissions tax, OVG shall deposit as soon as practicable following receipt, in the Event Account all revenue received from ticket sales and similar event-related revenues which OVG receives in contemplation of, or arising from, an event, pending completion of the event. Such monies will be held in escrow for the protection of ticket purchasers, Owner, and OVG, to provide a source of funds as required for payments to performers and for payments of direct incidental expenses in connection with the presentation of events that must be paid prior to or contemporaneously with such events. Promptly following completion of such events, OVG shall transfer all funds remaining in the Event Account from such event, including interest accrued thereon, into the Operating Account. Bank service charges, if any, on such Event Account shall be deducted from interest earned before utilizing other funds in such Event Account.
Event Account. Manager shall deposit as soon as practicable following receipt, in the Event Account for the Event Center, all revenue received from ticket sales and similar event-related revenues which Manager receives in contemplation of, or arising from, an event at the Event Center, pending completion of the event. Manager shall deposit as soon as practicable following receipt, in the Event Account for the Theatre, all revenue received from ticket sales and similar event-related revenues which Manager receives in contemplation of, or arising from, an event at the Theatre, pending completion of the event. Such monies will be held in escrow for the protection of ticket purchasers, the City and Manager, to provide a source of funds as required for payments to performers and for payments of direct incidental expenses in connection with the presentation of events that must be paid prior to or contemporaneously with such events. Promptly following completion of such events, City shall transfer all funds remaining in each Event Account, including any interest accrued thereon, into the Operating Account for the applicable Facility.
Event Account. Manager shall deposit as soon as practicable following receipt, in the Event Account, all revenue received from ticket sales and similar event-related revenues which Manager receives in contemplation of, or arising from, an event, pending completion of the event. Such monies will be held in escrow for the protection of ticket purchasers, the City and Manager, to provide a source of funds as required for payments to performers and for payments of direct incidental expenses in connection with the presentation of events that must be paid prior to or contemporaneously with such events. City imposed surcharge collections shall be accounted for separately, and the specific handling/administration of such collections shall be addressed in the Operations Manual. Promptly following completion of such events, Manager shall transfer all funds remaining in the Event Account, including any interest accrued thereon, into the Operating Account. Bank service charges, if any, on such account(s) shall be deducted from interest earned.
Event Account. Manager shall deposit as soon as practicable following receipt, in the Event Account, all revenue received from ticket sales and similar event-related revenues which Manager receives in contemplation of, or arising from, an event, pending completion of the event. Such monies will be held in escrow for the protection of ticket purchasers, the Owner and Manager, to provide a source of funds as required for payments to performers and for payments of direct incidental expenses in connection with the presentation of events that must be paid prior to or contemporaneously with such events. Promptly following completion of such events, Manager shall transfer all funds remaining in the Event Account, including any interest accrued thereon, into the Operating Account. Bank service charges, if any, on such account(s) shall be deducted from interest earned.
