Hotel Operating Accounts definition

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.
Sample 1Sample 2Sample 3
Hotel Operating Accounts is defined in Section 7.1(f).
Sample 1Sample 2
Hotel Operating Accounts shall have the meanings set forth in Section 7.1.4 of the Agreement.
Sample 1

Examples of Hotel Operating Accounts in a sentence

  • Promptly following the funding of the reserve required in Section 25.10(a) and the termination of this Agreement, Manager shall relinquish all control of the Hotel Operating Accounts and FF&E Funds to Owner, and Manager shall have no further rights with respect to such accounts or funds.

  • 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).

  • 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.

  • 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.

  • 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.


More Definitions of Hotel Operating Accounts

Hotel Operating Accounts is defined in Section 5.2(f).
Sample 1

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 unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • 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 has the meaning given in Paragraph 4.1, 4.2(A) or 4.2(B) (as applicable) of Part A of 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 3.04 (a) 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;

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”

  • 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 Servicing Agreement with respect to the Mortgage Loans.

  • Management Accounts Date means 30 September 2017;

  • 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 any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • 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, aggregated balance sheet of the Group as at the Locked Box Date, in the agreed form;