Common use of Working Capital and Inventories Clause in Contracts

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of $135,000 (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of $135,000 [] (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS Owner shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of [insert $135,000 1,000 x # of rooms] (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS Owner throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS Owner in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS Owner shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRSOwner’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of [insert $135,000 1,000 x # of rooms] (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of $135,000 252,000 (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of $135,000 216,000 (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.

Working Capital and Inventories. A. At the Management Commencement Date, TRS shall provide to Management Company the funds necessary to supply the Hotel with Working Capital and Inventories in a minimum amount of One Thousand Dollars ($1,000.00) per guest room and shall at all times thereafter maintain in the Hotel's Operating Accounts a minimum balance in the amount of $135,000 205,000 (or, if necessary, such greater amount to assure the uninterrupted and efficient operation of the Hotel, including, without limitation, sufficient funds to pay budgeted current liabilities as they fall due and to replace Inventories as they are consumed) in accordance with the provisions of subsection B below. Working Capital so advanced shall remain the property of TRS throughout the Term of this Agreement, and Management Company shall make no claim thereto. B. If at any time Management Company reasonably determines that Working Capital is less than the amount required to be maintained under Section 7.01 A above or available funds in the Operating Accounts (excluding for purposes of this Section 7.01 B, the Reserve) are insufficient to allow for the uninterrupted and efficient operation of the Hotel in accordance with the terms of this Agreement, Management Company shall notify TRS in writing of the existence and amount of such shortfall (a “Funds Request”) and TRS shall deposit the amount stated in the Funds Request into the Operating Accounts within three (3) days after TRS’s receipt of the Funds Request.