Common use of Retained Funds Clause in Contracts

Retained Funds. Notwithstanding any term or provision to the contrary herein, in the event that this Agreement is terminated pursuant to Section 12.1 or 12.2, Landlord shall credit any unapplied balance of the Retained Funds to any claims or damages to which Landlord is entitled and to the extent that any portion of the Retained Funds allocable to the Leased Property remain after such credit, Landlord shall promptly pay such portion as provided in the Purchase Agreement.

Appears in 5 contracts

Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust)

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