Gross Hotel Revenues means all revenues and receipts of every kind derived from operating such Asset or Assets, as the case may be, and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Asset or Assets); service charges, to the extent not distributed to the employees at such Asset or Assets as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance, all as determined in accordance with GAAP; provided, however, that Gross Hotel Revenues shall not include gratuities to employees of such Asset or Assets; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Asset or Assets.
Gross Hotel Revenues means, for all Properties, all revenues and receipts of every kind derived from operating such Properties, as the case may be, and parts thereof, including, but not limited to: income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Properties); service charges, to the extent not distributed to the employees at such Properties as, or in lieu of, gratuities; interest which accrues on amounts deposited in any FF&E reserve account and proceeds, if any, from business interruption or other loss of income insurance; provided, however, that Gross Hotel Revenues shall not include the following: gratuities to employees of such Properties; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Properties.
Gross Hotel Revenues means all revenues and receipts of every kind derived from operating such Asset or Assets, as the case may be, and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Asset or Assets); service charges, to the extent not distributed to the employees at such Asset or Assets as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance; provided, however, that Gross Hotel Revenues shall not include gratuities to employees of such Asset or Assets; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Asset or Assets.
Examples of Gross Hotel Revenues in a sentence
For any Real Estate, a deemed franchise fee in an amount equal to the greater of (i) the actual franchise fees payable with respect to such Real Estate for the period of determination and (ii) an amount equal to four percent (4%) of Gross Hotel Revenues from such Real Estate for such period.
For any Borrowing Base Property for any period of determination, a deemed base management fee in an amount equal to the greater of (i) the actual base management fees payable with respect to such Borrowing Base Property for such period and (ii) an amount equal to four percent (4%) of Gross Hotel Revenues from such Borrowing Base Property for such period.
Gross Hotel Revenues shall not include any rents, reimbursements or other payments by a tenant under a Lease which is in default of any monetary or other material obligation or which is the subject of any bankruptcy, insolvency or similar debtor relief proceeding.
For any period and with respect to any of the Real Estate for the most recently completed four (4) fiscal quarters, an amount equal to four percent (4%) of Gross Hotel Revenues from such Real Estate for such period.
With respect to each Borrowing Base Property, an amount equal to the greater of (a) four percent (4%) of Gross Hotel Revenues for such Borrowing Base Property for the preceding calendar month, (b) one-twelfth (1/12th) of the annual reserve for replacement of FF&E required by the Management Agreement for such Borrowing Base Property, and (c) one-twelfth (1/12th) of the annual reserve for replacement of FF&E required by the Franchise Agreement for such Borrowing Base Property.
More Definitions of Gross Hotel Revenues
Gross Hotel Revenues means all revenues from the ownership and operation of the hotel from whatever source, including, but not limited to, room revenues, food and beverage revenues, telephone revenues, Rents (other than Rents from the casino included in Gross Casino Revenues), utility charges, escalations, forfeited security deposits, interest on credit accounts, service fees or charges, license fees, parking fees, rent concessions or credits, and other required pass-throughs.
Gross Hotel Revenues means, with respect to any Asset, all revenues and receipts of every kind derived from operating such Asset and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Asset); service charges, to the extent not distributed to the employees at such Asset as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance, all as determined in accordance with GAAP; provided, however, that Gross Hotel Revenues shall not include gratuities to employees of such Asset; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Asset.
Gross Hotel Revenues means all revenues and receipts of every kind derived from operating a Collateral Asset or Collateral Assets, as the case may be, and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Collateral Asset or Collateral Assets); service charges, to the extent not distributed to the employees at such Collateral Asset or Collateral Assets as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance; provided, however, that Gross Hotel Revenues shall not include gratuities to employees of such Collateral Asset or Collateral Assets; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Collateral Asset or Collateral Assets.
Gross Hotel Revenues. Is defined in Section 12.01 of the Management Agreement as "Gross Revenues." If the Parking Facility is operated by the Manager or its Affiliate, the term "Gross Hotel Revenues" includes revenue from the Parking Facility as well as from the Hotel.
Gross Hotel Revenues. All revenues and receipts derived from operating a property including but not limited to: income (before commissions and discounts for prompt or cash payments) from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals; net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from sale of furniture, fixtures and equipment no longer necessary to the operation); service charges not distributed to employees in lieu of gratuities; and proceeds from business interruption or other loss of income insurance. Gross Hotel Revenues shall not include gratuities to employees; federal state, or municipal excise, sales, use or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; other insurance proceeds; condemnation proceeds; or any proceeds from any sale of properties.
Gross Hotel Revenues means all revenues and receipts of every kind derived from operating such Borrowing Base Asset or Borrowing Base Assets, as the case may be, and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind (including rentals from timeshare marketing and sales desks); license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Borrowing Base Asset or Borrowing Base Assets); service charges, to the extent not distributed to the employees at such Borrowing Base Asset or Borrowing Base Assets as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance; provided, however, that Gross Hotel Revenues shall not include gratuities to employees of such Borrowing Base Asset or Borrowing Base Assets; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance proceeds (other than proceeds from business interruption or other loss of income insurance); condemnation proceeds; or any proceeds from any sale of such Borrowing Base Asset or Borrowing Base Assets.
Gross Hotel Revenues. The gross receipts and revenues of Tenant, Kimpton (so long as Kimpton is the Operator) or any Affiliate of Tenant or any entity in which Tenant or any Affiliate of Tenant has any material direct or indirect ownership or equity interest resulting from guest room rental, health club memberships and fees, telephone services, laundry and valet services, fees collected for use of the Premises as a film location or the like, revenues arising from the use of or sublicense by Tenant of the IP Rights, and all other rents, fees or income made in, upon, or from the Hotel or the other rights and interests granted to Tenant by Landlord pursuant to this Lease. Gross Hotel Revenues shall be determined in accordance with generally accepted accounting principles and the Uniform System, but shall not include (1) any amounts included in Gross Food and Beverage Revenues and (2) Excluded Revenues. Gross Hotel Revenues shall include rents from Subleases (other than Restaurant Leases), but not the gross receipts or revenues received by the Space Tenants under such Subleases, provided, that, if Tenant enters into a Sublease (other than a Restaurant Lease) with an Affiliate, the gross receipts received by such Affiliate under such Sublease shall be included in Gross Hotel Revenues (unless otherwise included within the definition of Excluded Revenues) and the rent received by Tenant under such Sublease shall be excluded from Gross Hotel Revenues. Gross Revenues: Collectively, the Gross Hotel Revenues and the Gross Food and Beverage Revenues. Hazardous Materials: Collectively, (i) petroleum, (ii) asbestos, (iii) polychlorinated biphenyls, (iv) radioactive materials, (v) radon gas or (vi) any chemical, material or substance defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous waste,” “restricted hazardous waste” or “toxic substances” or words of similar impact under any applicable environmental laws, including but not limited to, Federal Water Pollution Act, as amended, 33 U.S.C. § 1251 et seq., the Resource Conservation and Recovery Act, as amended, 42 U.S.C. § 6901 et seq., the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601 et seq., the Hazardous Materials Transportation Act, as amended, 49 U.S.C. § 1801 et seq., and Applicable Laws of the District of Columbia.