Common use of Room Revenue Clause in Contracts

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "posted" in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "night" audit for the Apportionment Date (THE "FRONT DESK CLOSING HOUR") shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. on the Apportionment Date are collectively called the "CURRENT LEDGER", and Purchaser shall pay over to Seller, as received by Purchaser, Seller's share of the proceeds of the Current Ledger attributable to payments of each guest's account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to Seller.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "posted" in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "night" audit for the Apportionment Date (THE the "FRONT DESK CLOSING HOURFront Desk Closing Hour") shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. on the Apportionment Date are collectively called the "CURRENT LEDGERCurrent Ledger", and Purchaser shall pay over to Seller, as received by Purchaser, Seller's share of the proceeds of the Current Ledger attributable to payments of each guest's account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to Seller.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "posted" in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "night" audit for the Apportionment Date (THE "FRONT DESK CLOSING HOUR") shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. on the Apportionment Closing Date are collectively called the "CURRENT LEDGER"“Current Ledger”, and Purchaser shall pay over to Seller, as received by Purchaser, Seller's ’s share of the proceeds of the Current Ledger attributable to payments of each guest's ’s account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected; provided, however, that the portion of the Current Ledger attributable to room rents for the final night prior to Closing shall be shared equally between Seller and Purchaser. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's ’s indebtedness to Seller.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "“posted" ” in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "“night" ” audit for the Apportionment Date (THE "FRONT DESK CLOSING HOUR"the “Front Desk Closing Hour”) shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. 11:59 p.m. on the Apportionment Date are collectively called the "CURRENT LEDGER"“Current Ledger”; the portion of the Current Ledger that relates to the night preceding the Closing Date (the “Pre-Closing Ledger”) shall be split 50/50 between Seller and Purchaser net of sales and occupancy taxes, which shall be paid to Seller, who shall pay to the appropriate taxing authority the sales and occupancy taxes assessed on the entire Pre-Closing Ledger. At Closing, Purchaser shall pay over to Seller the Seller, as received by Purchaser, Seller's ’s share of the proceeds of the Current Ledger attributable to payments of each guest's ’s account for the period ending on and including the Apportionment Date, less industry-standard deductions for applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to Seller.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "“posted" ” in the normal course after the xxxx txxx Xxxxxx normally closes its front desk activity for the "“night" ” audit for the Apportionment Date (THE "FRONT DESK CLOSING HOUR"the “Front Desk Closing Hour”) shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. 11:59 p.m. on the Apportionment Date are collectively called the "CURRENT LEDGER"“Current Ledger”; the portion of the Current Ledger that relates to the night preceding the Closing Date (the “Pre-Closing Ledger”) shall be split 50/50 between Seller and Purchaser net of sales and occupancy taxes, which shall be paid to Seller, who shall pay to the appropriate taxing authority the sales and occupancy taxes assessed on the entire Pre-Closing Ledger. At Closing, Purchaser shall pay over to Seller the Seller, as received by Purchaser, Seller's ’s share of the proceeds of the Current Ledger attributable to payments of each guest's ’s account for the period ending on and including the Apportionment Date, less industry-standard deductions for applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to Seller.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date Time shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date Time such revenues shall belong to Purchaser; provided, however, that revenues received or "“posted" ” in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "“night" ” audit for the Apportionment Date Time (THE "FRONT DESK CLOSING HOUR"the “Front Desk Closing Hour”) shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. 11:59 p.m. on the Apportionment Date Time are collectively called the "CURRENT LEDGER"“Current Ledger”. The portion of the Current Ledger that relates to the night preceding the Closing Date (the “Pre-Closing Ledger”) shall be split 50/50 between Seller and Purchaser net of sales and occupancy taxes (which shall be paid to Seller, who shall pay to the appropriate taxing authority the sales and occupancy taxes assessed on the entire Pre-Closing Ledger), and net of all credit card company charges, travel company charges and other similar charges and commissions (which shall be paid by Seller to the appropriate party). Following Closing (if and to the extent such amounts are actually received by Purchaser), Purchaser shall pay over to Seller the Seller, as received by Purchaser, Seller's ’s share of the proceeds of the Current Ledger attributable to payments of each guest's ’s account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collectedTime. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to Seller.31 10.4

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date shall belong to Seller, and for the period beginning at 12:01 a.m. on the day immediately following the Apportionment Date such revenues shall belong to Purchaser; provided, however, that revenues received or "posted" in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "night" audit for the Apportionment Date (THE the "FRONT DESK CLOSING HOUR") shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. on the Apportionment Date are collectively called the "CURRENT LEDGER", and Purchaser shall pay over to Seller, as received by Purchaser, Seller's share of the proceeds of the Current Ledger attributable to payments of each guest's account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser Seller and thereafter to such person's indebtedness to SellerPurchaser.

Room Revenue. All revenues received or to be received from transient guests on account of room rents for the period ending on and including the Apportionment Date Time shall belong to Seller, and for the period beginning on the day immediately following the Apportionment Date Time such revenues shall belong to Purchaser; provided, however, that revenues received or "“posted" ” in the normal course after the xxxx Xxxxxx normally closes its front desk activity for the "“night" ” audit for the Apportionment Date Time (THE "FRONT DESK CLOSING HOUR"the “Front Desk Closing Hour”) shall belong to Purchaser. The accounts receivable of registered guests at the Property who have not checked out and were occupying rooms as of 12:01 a.m. 11:59 p.m. on the Apportionment Date Time are collectively called the "CURRENT LEDGER"“Current Ledger”. The portion of the Current Ledger that relates to the night preceding the Closing Date (the “Pre-Closing Ledger”) shall be split 50/50 between Seller and Purchaser net of sales and occupancy taxes (which shall be paid to Seller, who shall pay to the appropriate taxing authority the sales and occupancy taxes assessed on the entire Pre-Closing Ledger), and net of all credit card company charges, travel company charges and other similar charges and commissions (which shall be paid by Seller to the appropriate party). Following Closing (if and to the extent such amounts are actually received by Purchaser), Purchaser shall pay over to Seller the Seller, as received by Purchaser, Seller's ’s share of the proceeds of the Current Ledger attributable to payments of each guest's ’s account for the period ending on and including the Apportionment Date, less applicable credit card and travel agent commissions allocable to such share, which commissions shall be paid by Purchaser out of such proceeds when and as collected. In the event that an amount less than the total amount due from a guest is collected and the guest continued in occupancy after the Apportionment Date, such amount shall be applied first to any indebtedness owing by such person to Purchaser and thereafter to such person's indebtedness to SellerTime.