House Banks. All cash, checks and other funds including till money and house banks held at the Hotel as of the Cutoff Time (collectively, the “House Banks”) shall be turned over to Buyer and Seller shall receive a credit at Closing in the amount of the cash, checks and other funds so delivered.
House Banks. With respect to each Property, on the Closing Date, in addition to the Company Merger Consideration, the RLJ REITs shall receive a credit through the Escrow for an amount equal to all till money, cash-on-hand, and all sums in house banks for the Hotel.
House Banks. Purchaser shall have the option, at its sole discretion, to purchase the House Banks, provided Purchaser, if it chooses to do so, shall only purchase cash on hand and shall in no event purchase any receipts.
House Banks. Buyer shall purchase the xxxxx cash funds and cashiers’ banks (“House Banks”) at the cash value of the House Banks, as determined by Seller and Buyer jointly, provided that Buyer shall only purchase cash on hand and shall in no event purchase any receipts pursuant to this Section 12.1(f).
House Banks. On the Close of Escrow, Seller shall receive a credit through the Escrow for an amount equal to all till money, cash-on-hand, and all sums in house banks for the Hotel, in which case all right, title and interest to the till money, cash-on-hand and house banks shall be assigned and conveyed by Seller to Purchaser. In the event Seller and Purchaser are unable to agree upon the amount of the till money, cash-on-hand and house banks, the provisions of this Section 5.5.11 shall be inapplicable, and title to the till money, cash-on-hand and house banks shall remain with Seller. The failure of Purchaser and Seller to agree on the amounts of the till money, cash-on-hand and house banks shall not be deemed a condition precedent to the obligations of Seller and Purchaser under this Agreement.
House Banks. On the Close of Escrow, Seller shall receive a credit through the Escrow for an amount equal to all till money, cash-on-hand, all operating accounts for the Hotel, and all sums in house banks for the Hotel, in which case all right, title and interest to the till money, cash-on-hand and house banks shall be assigned and conveyed by Seller to Purchaser. In the event Seller and Purchaser are unable to agree upon the amount of the till money, cash-on-hand, all operating accounts for the Hotel, and house banks, the provisions of this Section 5.5.10 shall be inapplicable, and title to the till money, cash-on-hand and house banks shall remain with Seller. The failure of Purchaser and Seller to agree on the amounts of the till money, cash-on-hand and house banks shall not be deemed a condition precedent to the obligations of Seller and Purchaser under this Agreement.
House Banks. The Acquirer shall purchase the xxxxx cash funds and cashiers’ banks, provided that the Acquirer shall only purchase cash on hand and shall in no event purchase any receipts.
House Banks. Notwithstanding the provisions of Section 9.1.9 Seller shall receive a credit for the cash held in the Hotel house banks and any pxxxx cash at the Hotel.
House Banks. Subject to the proration provisions hereof and the credits due to Buyer for prepaid items and deposits as set out herein, cash, checks and other funds including till money and house banks held at the hotel as of the Apportionment Date (collectively, "House Banks") shall be turned over to Buyer and Seller shall receive a credit at Closing in the amount of the cash so delivered.
House Banks. For purposes of determining the credits due Seller pursuant to Section 9.1.9 hereof, on the night during which the Apportionment Time occurs, representatives of Purchaser and Seller shall conduct a physical count of cash held in the Hotel house banks and any xxxxx cash at the Hotel. If Purchaser elects not to conduct with Seller a physical count of cash held in the Hotel house banks or xxxxx cash located at the Hotel, Seller’s physical count shall be deemed accurate, complete and binding on the parties hereto for purposes of determining the credits due Seller.
