Common use of Guest Ledger Clause in Contracts

Guest Ledger. With respect to the Asset, at Closing Seller shall receive a credit in an amount equal to the Guest Ledger balances as of the close of business the night before the Closing Date. Purchaser shall be entitled to retain all payments made for such Guest Ledger on or after the Closing Date. Purchaser shall receive a credit for 50% of room revenues and any applicable taxes on such room revenues posted into the Guest Ledger the night before the Closing Date.

Guest Ledger. With respect to the each Asset, at Closing the applicable Seller shall receive a credit in an amount equal to the Guest Ledger balances as of the close of business the night before the Closing Date. Purchaser shall be entitled to retain all payments made for such Guest Ledger on or after the Closing Date. Purchaser shall receive a credit for 50% of room revenues and any applicable taxes on such room revenues posted into the Guest Ledger the night before the Closing Date.