Common use of Accounting, Distributions and Annual Reconciliation Clause in Contracts

Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the "Accounting Period Statement") to Owner showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs, and shall retain any interim amounts due Manager.

Appears in 5 contracts

Samples: Management Agreement (Apple Hospitality Five Inc), Management Agreement (Apple Hospitality Five Inc), Management Agreement (Apple Hospitality Five Inc)

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Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the "Accounting Period Statement") to Owner showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs, and shall retain any interim amounts due Manager.

Appears in 3 contracts

Samples: Management Agreement (Apple Reit Six Inc), Management Agreement (Apple Reit Six Inc), Management Agreement (Apple Reit Six Inc)

Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) 20 days after the close of each Accounting Period, the Manager shall deliver an interim accounting (the "Accounting Period Statement") to the Owner showing setting forth Gross Revenues, DeductionsOperating Expenses, Operating ProfitProfit or Operating Loss, and applications and distributions thereof for the preceding Accounting Period. The Manager shall transfer to the Owner, with each Accounting Period Statement, any interim amounts due to the Owner, subject to Working Capital needs, and shall retain any interim amounts due to the Manager.

Appears in 2 contracts

Samples: Management Agreement (Ridgewood Hotels Inc), Management Agreement (Fountainhead Development Corp Inc)

Accounting, Distributions and Annual Reconciliation. A. (a) Within twenty (20) days after the close of each Accounting Period, Tenant shall cause Manager shall to deliver an interim accounting (the "Accounting Period Statement") to Owner Landlord showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period. Tenant shall cause Manager shall to transfer to OwnerTenant, with each Accounting Period Statement, any interim amounts due OwnerTenant, subject to Working Capital needs, and shall retain any interim amounts due Manager.

Appears in 1 contract

Samples: Lease Agreement (CNL Hospitality Properties Inc)

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Accounting, Distributions and Annual Reconciliation. A. Within twenty (20) days after the close of each Accounting Period, Manager shall deliver an interim accounting (the "Accounting Period Statement") to Owner Owner, prepared in accordance with the Uniform System of Accounts, showing Gross Revenues, Deductions, Operating Profit, Profit and applications and distributions thereof for the preceding Accounting PeriodPeriod and any other information reasonably requested by Owner. Manager shall transfer to Owner, with each Accounting Period Statement, any interim amounts due Owner, subject to Working Capital needs, and shall retain any interim amounts due Managerpayable to Manager pursuant to the terms of this Agreement.

Appears in 1 contract

Samples: Management Agreement (Apple REIT Ten, Inc.)

Accounting, Distributions and Annual Reconciliation. A. (a) Within twenty (20) days after the close of each Accounting Period, Tenant shall cause Manager shall to deliver an interim accounting (the "Accounting Period Statement") to Owner Landlord showing Gross Revenues, Deductions, Operating Profit, and applications and distributions thereof for the preceding Accounting Period. Tenant shall cause Manager shall to transfer to OwnerTenant, with each Accounting Period Statement, any interim amounts due OwnerTenant, subject to Working Capital needs, and shall retain any interim amounts due Manager.

Appears in 1 contract

Samples: Lease Agreement (CNL Income Properties Inc)

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