Room Revenues. All revenues from guest room rentals and other suite revenues for the period before the Closing Date shall be allocated to the Interest Owners, and all such revenues for the period after the Closing Date shall be allocated to the Buyer. All such revenues for the night in which the Cutoff Time occurs shall be credited to the Interest Owners, but the Interest Owners shall provide the Buyer credit at Closing equal to the reasonable expenses to be incurred to clean such guests’ rooms.
Appears in 4 contracts
Samples: Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.)
Room Revenues. All With respect to each Hotel, all revenues from guest room rentals and other suite revenues for the period before the Closing Date shall be allocated to the Interest Owners, and all such revenues for the period after the Closing Date shall be allocated to the Buyer. All such revenues for the night in which the Cutoff Time occurs shall be credited to the Interest Owners, but the Interest Owners shall provide the Buyer credit at Closing equal to the reasonable expenses to be incurred to clean such guests’ rooms.
Appears in 1 contract
Samples: And (Apple Reit Six Inc)
