Common use of Guest Ledger Clause in Contracts

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”) for each guest or group of guests at the Hotel on the night immediately preceding Closing (“Closing Eve”) shall be prorated between Seller and Buyer as follows: 8.3.1.1 Room and service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times preceding Closing Eve shall be credited to Seller. 8.3.1.2 Room and service charges for all times after Closing Eve shall belong to Buyer. 8.3.1.3 Room charges for Closing Eve shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other charges shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any other charges for the 24-hour period including Closing Eve, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated share of all applicable travel and tour agent commissions, license, reservation and franchise fees, and similar expenses. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.1. Buyer shall be responsible for paying any amounts deducted from Seller’s apportioned share under Section 8.3.1.6, Buyer and Seller shall each be responsible for paying their own taxes with respect to amounts for which they receive credit pursuant to this Section 8.3.1.

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”) for each person who is a guest or group of guests at the Hotel on the night immediately preceding Closing (“Closing Eve”) shall be prorated between Seller and Buyer as follows: 8.3.1.1 8.6.1 Room and service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times preceding Closing Eve shall be credited to Seller. 8.3.1.2 8.6.2 Room and service charges for all times after Closing Eve shall belong to Buyer. 8.3.1.3 8.6.3 Room and service charges for Closing Eve shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other charges 8.6.4 Other shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any 8.6.5 Any other charges for the 24-hour period including Closing Eve, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 8.6.6 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated share of all applicable taxes, travel and tour agent commissions, license, reservation and franchise fees, and similar expenses. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.1. All Guest Ledger Accounts shall be assigned to Buyer at Closing, and Seller shall receive a proration credit equal to its net aggregate prorated amount under this Section 8.6 Buyer shall be responsible for paying any taxes and other amounts deducted from Seller’s apportioned share under Section 8.3.1.6, Buyer and Seller shall each be responsible for paying their own taxes with respect to amounts for which they receive credit pursuant to this Section 8.3.18.6.6.

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”"GUEST LEDGER ACCOUNT") for each Person who is a guest or group of guests at the Hotel on the night immediately preceding Closing (“Closing Eve”"CLOSING EVE") shall be prorated between Seller and Buyer as follows: 8.3.1.1 Room and service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times preceding Closing Eve shall be credited to Seller. 8.3.1.2 Room and service charges for all times after Closing Eve shall belong to Buyer. 8.3.1.3 Room and service charges for Closing Eve shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other Other charges shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any Any other charges for the 24-hour period including Closing Eve, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated the allocable share of all applicable taxes, travel and tour agent commissions, license, reservation and franchise fees, and similar expensesexpenses with respect to such revenues, which Buyer shall then be responsible for paying along with the share thereof allocable to the amount apportioned to it. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.1. Buyer All Guest Ledger Accounts shall be responsible for paying any amounts deducted from Seller’s apportioned share under Section 8.3.1.6assigned to Buyer at Closing, Buyer and Seller shall each be responsible for paying their own taxes with respect receive a proration credit equal to amounts for which they receive credit pursuant to its net aggregate prorated amount under this Section 8.3.1.

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”) for each person who is a guest or group of guests at the Hotel on the night immediately preceding Closing (“Closing Eve”) shall be prorated between Seller and Buyer as follows: 8.3.1.1 Room and service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times preceding Closing Eve shall be credited to Seller. 8.3.1.2 Room and service charges for all times after Closing Eve shall belong to Buyer. 8.3.1.3 Room and service charges for Closing Eve shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other Other charges shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any Any other charges for the 24-hour period including Closing Eve, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated share of all applicable taxes, travel and tour agent commissions, license, reservation and franchise fees, and similar expenses. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.11. Buyer shall be responsible for paying any taxes and other amounts deducted from Seller’s apportioned share under this Section 8.3.1.6, Buyer and Seller shall each be responsible for paying their own taxes with respect to amounts for which they receive credit pursuant to this Section 8.3.1.

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”) for each person who is a guest or group of guests at the Hotel on the night immediately preceding Closing (“Closing Eve”) shall be prorated between Seller and Buyer as follows: 8.3.1.1 Room and service Service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times days preceding, and through 12:00 midnight on Closing Eve, shall be credited to Seller (notwithstanding if such charges are not charged to the guest’s account until after Closing Eve). 8.3.1.2 Room charges for all days preceding Closing Eve shall be credited belong to Seller. 8.3.1.2 Room 8.3.1.3 Service charges after 12:00 midnight on and service charges for all times after Closing Eve shall belong to Buyer. 8.3.1.3 8.3.1.4 Room charges for the days after Closing Eve shall belong to Buyer. 8.3.1.5 Room charges for Closing Eve shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other charges 8.3.1.6 Other shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any 8.3.1.7 Any other charges for the 24-hour period including Closing Eve, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 8.3.1.8 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated share of all applicable taxes, travel and tour agent commissions, license, reservation and franchise fees, and similar expenses. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.11. Buyer shall be responsible for paying any taxes and other amounts deducted from Seller’s apportioned share under Section 8.3.1.6, Buyer and Seller shall each be responsible for paying their own taxes with respect to amounts for which they receive credit pursuant to this Section 8.3.18.3.1.8.

Guest Ledger. The balance (less any contested charges) of the open account (“Guest Ledger Account”) for each person who is a guest or group of guests at the Hotel as of 12:00:01 a.m. on the night immediately preceding date of the Closing (the “Closing EveCut Off Time”) shall be prorated between Seller and Buyer as follows: 8.3.1.1 Room and service charges (including, without limitation, room service charges, in-house movie fees, health or fitness club charges and honor bar charges) for all times preceding Closing Eve Cut Off Time shall be credited to Seller. 8.3.1.2 Room and service charges for all times after Closing Eve Cut Off Time shall belong to Buyer. 8.3.1.3 Room and service charges for Closing Eve the evening of the Cut Off Time shall be divided equally between Seller and Buyer. 8.3.1.4 Subject to clause (A) of Section 8.7, other charges Other amounts shall be allocated between Seller and Buyer as of the Closing Date, based on the time such charges were actually incurred. 8.3.1.5 Subject to clause (A) of Section 8.7, any Any other charges for incurred during the 24-hour period including Closing Evepreceding the Cut Off Time, which cannot be fixed as to the actual time of incurrence, shall be apportioned equally between Seller and Buyer. 8.3.1.6 From the amounts apportioned to Seller under the foregoing clauses shall be deducted Seller’s prorated share of all applicable taxes, travel and tour agent commissions, license, reservation and franchise fees, and similar expensesexpenses accrued prior to the Cut Off Time. Any proration of revenues from Liquor Operations shall be subject to such limitations and conditions as may be imposed by applicable alcoholic beverage control Laws. 3.1. All Guest Ledger Accounts shall be assigned to Buyer at Closing, and Seller shall receive a proration credit equal to its net aggregate prorated amount under this Section 8.3.1, Buyer shall be responsible for paying any taxes and other amounts deducted from Seller’s apportioned share under Section 8.3.1.6, Buyer and Seller shall each be responsible for paying their own taxes with respect to amounts for which they receive credit pursuant to this Section 8.3.1.