Reservation Deposits definition
Examples of Reservation Deposits in a sentence
Buyer shall receive a proration credit equal to the aggregate amount of all outstanding Reservation Deposits.
Additional terms and provisions governing Reservation Deposits and cancellation for inclement weather and travel insurance are set forth in Addendum No. 1 to this Lease.
On the date of Closing, the aggregate amount of any Reservation Deposits or other advance payments and deposits (as determined by Buyer and Seller) received by Seller (which shall be retained by Seller) shall be credited against the Purchase Price.
On the date of Closing, the aggregate amount of any Reservation Deposits or other advance payments and deposits received by Seller (which shall be retained by Seller) shall be credited against the Purchase Price for the benefit of Purchaser.
The following shall not be included in the Property to be sold hereunder: Tax deposits, utility deposits and other deposits, except for transferable utility deposits, which are to be apportioned as herein provided, and except for Reservation Deposits which are credited against the Purchase Price in accordance with Section 4.9.
Each of New Hotel Owner and New Operating Tenant shall indemnify and hold each of SHR and DTRS harmless from and against any actual out-of-pocket losses resulting from claims by, and liabilities to, future guests or other persons or entities which have made deposits pertaining to the application or return of the Reservation Deposits or other advance payments to the extent Seller such Reservation Deposits or other advance payments and deposits are included on the Balance Sheet.
Buyer shall execute a receipt for any Reservation Deposits or other advance payments and deposits for which Buyer receives a credit against the Purchase Price, and shall indemnify and hold Seller harmless from and against all claims by, and liabilities to, future guests pertaining to the application or return of the Reservation Deposits or other advance payments and deposits for which Buyer receives a credit against the Purchase Price, in accordance with this Section 4.9.
Upon termination of the Term -as defined below-, if the parties have not executed the PSA, all Reservation Deposit(s) will be retained by the Developer and will not be refunded to the Prospective Buyer.
Buyer shall receive a proration credit equal to the aggregate amount of all outstanding Reservation Deposits with respect to each Hotel.
New Operating Tenant shall be responsible for the aggregate amount of any Reservation Deposits or other advance payments and deposits to the extent such Reservation Deposits or other advance payments and deposits are included on the Balance Sheet.