Hotel Operating Accounts definition

Hotel Operating Accounts means those accounts maintained by the applicable Property Owner or Property Manager pursuant to the Property Management Agreements into which all Rents from the applicable Property are deposited.
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Hotel Operating Accounts means those accounts maintained by the applicable Issuer or Property Manager pursuant to the Property Management Agreements into which all Rents from the applicable Property are deposited.
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Hotel Operating Accounts is defined in Section 7.1(f).
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Examples of Hotel Operating Accounts in a sentence

  • Lessee may also establish one or more “sweep” accounts into which funds from one or more Hotel Operating Accounts may be deposited.

  • Any costs and expenses reimbursed pursuant to this Section shall constitute Operating Expenses and shall be paid out of the Hotel Operating Accounts to Operator.

  • Lessee may also establish one or more "sweep" accounts into which funds from one or more Hotel Operating Accounts may be deposited.

  • Lessee hereby grants Lessor, and shall cause Operator to grant to Lessor where the applicable account is maintained by or in the name of the Operator, a first priority security interest in and to all Hotel Operating Accounts for the purpose of securing the performance by Lessee of its obligations under this Lease.

  • The cost of indemnification pursuant to this Section 10 shall be borne solely by Manager and shall not be charged to or paid out of the Hotel Operating Accounts or any other fund or account of the Owner.

  • The reserve will be funded first by withdrawals by Manager from the Hotel Operating Accounts; second from the FF&E Funds; and third, if the foregoing sources of funds are insufficient, then by Owner within 10 days after receipt of Manager’s notice of the necessary amounts.

  • Checks or other documents of withdrawal from the Hotel Operating Accounts may be made for any purpose authorized under this Agreement.

  • Any account management agreement (or similar agreement) governing the Hotel Operating Accounts or the FF&E Funds shall reflect the requirement set forth in this Section 25.10(b).

  • If Owner shall be included under Manager’s chain-wide policies of insurance, or under Manager’s self-insurance program, such participation will be terminated as of the effective date of termination of this Agreement, and Manager shall have the right to reimburse itself for such premiums which may have accrued to the date of termination by withdrawing the appropriate amount thereof from the Hotel Operating Accounts.

  • So long as the Management Agreement remains in effect, Borrower and Lender agree that Hotel Manager shall continue to maintain the Hotel Operating Accounts, including signing or otherwise authorizing checks or other documents of withdrawal therefrom, and perform all of its other responsibilities pursuant to the Management Agreement, including collecting all Operating Revenues and paying all Operating Expenses and the debt service on the Loan.


More Definitions of Hotel Operating Accounts

Hotel Operating Accounts. The term “Hotel Operating Accounts” shall have the meanings set forth in Section 7.1.4 of the Agreement.
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Hotel Operating Accounts is defined in Section 5.2(f).
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Related to Hotel Operating Accounts

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Management Accounts means, in relation to any Reporting Period, the Franchisee’s management accounts which: (a) comply with paragraph 3.10 of Schedule 13 (Information and Industry Initiatives); and (b) are required to be delivered to the Secretary of State by the Franchisee in accordance with paragraphs 3.2 and 3.3 of Schedule 13 (Information and Industry Initiatives);

  • Project Accounts means the Revenue Account, the Operating Account, the Maintenance Capital Expense Account, the Debt Service Reserve Account, the Insurance and Condemnation Proceeds Accounts and the Extraordinary Proceeds Account, including any sub-account within such accounts.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Completion Accounts means the consolidated balance sheet of the Group as at the Completion Date to be prepared in accordance with Schedule 8 (Completion Accounts);

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Energy Accounts means the regional energy accounts/state energy accounts as specified in the Grid Code issued by the appropriate agency for each Month (as per their prescribed methodology), including the revisions and amendments thereof;

  • deposits townsite means the townsite to be established on or near the mining areas pursuant to this Agreement;

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Management Accounts Date means 30 September 2010;

  • Collection Accounts As defined in Section 3.10(a).

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Locked Box Accounts means the unaudited accounts of the Group, consisting of a balance sheet as at the Locked Box Date in the Agreed Form;

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.