Capital Replacements. A. An independent and segregated replacement reserve account will be created in the name of Owner (the "Capital Replacement Reserve Account'). The Capital Replacement Reserve Account will be funded by transferring on the tenth (10th) of each month a sum equal to the percentage identified on Schedule I of the Gross Revenue of the preceding month.
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Capital Replacements. A. An independent and segregated replacement reserve account will be created in the name of Owner (the "Capital Replacement Reserve Account'). .") The Capital Replacement Reserve Account will be funded by transferring on the tenth (10th) of each month a sum equal to the percentage identified on Schedule I of the Gross Revenue of the preceding month. All funds will be held in an interest bearing account.
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Capital Replacements. A. An independent and segregated replacement reserve account will be created in the name of Owner (the "Capital Replacement Reserve Account'"). The Capital Replacement Reserve Account will be funded by transferring on the tenth (10th) of each month a sum equal to the percentage identified on Schedule I of the Gross Revenue of the preceding month.. HOTEL/MOTEL MANAGEMENT AGREEMENT - Page 2 --------------------------------
Appears in 1 contract
Samples: Motel Management Agreement (Ameri First Financial Group Inc)
Capital Replacements. A. An independent and segregated replacement reserve account will be created in the name of Owner (the "Capital Replacement Reserve Account'"). The Capital Replacement Reserve Account will be funded by transferring on the tenth (10th) of each month a sum equal to the percentage identified on Schedule I of the Gross Revenue of the preceding month.
Appears in 1 contract
Samples: Motel Management Agreement (Ameri-First Financial Group Inc)
