Guest Ledger definition

Guest Ledger means any and all charges accrued to the open accounts of any guests or customers at the Hotel as of the Cut-Off Time for the use or occupancy of any guest, conference, meeting or banquet rooms or other facilities at the Hotel, any restaurant, bar or banquet services, or any other goods or services provided by or on behalf of the Seller at the Hotel.

Guest Ledger means any and all charges accrued to the open accounts of any guests or customers at the Hotel as of the Cut-Off Time for the use and occupancy of any guest, conference, meeting or banquet rooms or other facilities at the Hotel, any restaurant, bar or banquet services, or any other goods or services provided by or on behalf of Seller.

Guest Ledger means that certain guest ledger dated as of ____________________, 199__, certified by the Seller, a copy of which is attached hereto as Exhibit C. The Guest Ledger shall be updated and recertified as of the Closing Date.

Examples of Guest Ledger in a sentence

• For the period beginning on the day immediately following the Cut-Off Time, such revenues collected from the Guest Ledger shall belong to the Buyer.

• At Closing, the Seller shall receive a credit in an amount equal to: (i) all amounts unpaid as of the Cut-Off Time charged to the Guest Ledger for all room nights up to (but not including) the night during which the Cut-Off Time occurs, and (ii) one-half of all amounts unpaid as of the Cut-Off Time charged to the Guest Ledger for the room night which includes the Cut-Off Time and the Guest Ledger and all amounts charged thereto and unpaid as of the Cut-Off Time shall become the property of the Buyer.

• After the Closing, the Seller shall retain the right to collect all Accounts Receivable other than the Guest Ledger which is addressed in SECTION 9.3(a) (such retained Accounts Receivable, the “Retained Accounts Receivable”).

• EXHIBIT E Form of Assignment and Assumption of Leases, Security Deposits, Reservation Deposits, Guest Ledger Accounts and Service Contracts See Attached.

• Seller and Buyer shall each receive a credit equal to one-half of the amount of Guest Ledger Receivables for the full room night during which the Cutoff Time occurs.

More Definitions of Guest Ledger

Guest Ledger means any accounts receivable of registered guests who have not checked out and who are occupying rooms at the Property, on the evening preceding the Closing and who check in prior to the Transfer Time, including all revenues from the rental of guest rooms at the Property, together with any sales or other taxes thereon.

Guest Ledger means the collection of all open balances, whether secured by some form of payment or unsecured, for all in house Hotel guests remaining as of the Closing Date.

Guest Ledger means all charges accrued to the open accounts of any guests or customers at the Hotels as of the Closing Date for the use or occupancy of any guest, conference or banquet rooms or other facilities at the Hotels, any restaurant, bar or banquet services, or any other goods or services provided by or on behalf of Seller at the Hotels.

Guest Ledger means any and all charges accrued to the open accounts of any guests or customers at any Property as of the Cut-Off Time for the use and occupancy of any guest, conference, meeting or banquet rooms or other facilities at such Property, any restaurant, bar or banquet services, or any other goods or services provided to such guest or customer by or on behalf of any Seller (or a Manager on behalf of Seller).

Guest Ledger means all charges accrued to the open accounts of any guests or customers at the Property as of the Adjustment Time for the use or occupancy of any guest, conference or banquet rooms or other facilities at the Property, any banquet services, or any other goods or services provided at the Property. Representatives of the Operating Partnership and the Contributor shall inspect, prepare a listing, and agree to the balance for each guest room due immediately prior to the Closing. As to all guest charges other than the Guest Ledger, contemporaneous with the Closing, the Contributor shall checkout and xxxx all in-house guests, and the Operating Partnership shall simultaneously re-register and establish new accounts for such guests. Daily guest room revenues received or accrued for room occupancy commencing on or after the Adjustment Time shall be the sole property of the Operating Partnership. (f)

Guest Ledger shall have the meaning set forth in Section 14.2 of this Agreement.

Guest Ledger means any all charges accrued to the open accounts of any guests or customers at the Hotel as of the Cut-Off Time for the use and occupancy of any guest, conference, meeting or banquet rooms or other similar facilities at the Hotel, any restaurant, bar or banquet services, or any other goods or services provided in the Ordinary Course of Business by or on behalf of Seller.