Guest Ledger Sample Clauses

Guest Ledger. Subject to (f) below, all accounts receivable of registered guests at the Hotel who have not checked out and were occupying rooms as of the Cutoff Time, shall be prorated as provided herein.

Guest Ledger. All revenues received or to be received from transient guests on account of room rents for the period prior to and including the Cut-Off Time shall belong to the Seller. At Closing, the Seller shall receive a credit in an amount equal to: (i) all amounts unpaid as of the Cut-Off Time charged to the Guest Ledger for all room nights up to (but not including) the night during which the Cut-Off Time occurs, and (ii) one-half of all amounts unpaid as of the Cut-Off Time charged to the Guest Ledger for the room night which includes the Cut-Off Time and the Guest Ledger and all amounts charged thereto and unpaid as of the Cut-Off Time shall become the property of the Buyer. For the period beginning on the day immediately following the Cut-Off Time, such revenues collected from the Guest Ledger shall belong to the Buyer. In the event that an amount less than the total amount due from a guest is collected and guest continued in occupancy after the Cut-Off Time, such amount shall be applied first to any amount owing by such person to the Seller and thereafter to such person’s amounts accruing to the Buyer.

Guest Ledger. A copy of the guest ledger dated as of the Proration Time showing all Guest Ledger Receivables and certified by Seller (a) to be a true, correct and complete copy of the guest ledger provided to Seller by Manager; and (b) to Seller's Knowledge, to be true, correct and complete;

Guest Ledger. Subject to the requirements of Section 9.15, all revenues received or to be received from transient guests on account of room rents, facilities occupied and the use of the Property (including without limitation parking areas, mini-bar sales, phone and other communication charges and the like) for the period prior to but excluding the Cut-Off Time shall belong to Seller. At Closing, Seller shall receive a credit in an amount equal to: (i) all amounts charged to the Guest Ledger for all room nights up to (but not including) the night during which the Cut-Off Time occurs, and (ii) one half ( 1⁄2) of all amounts charged to the Guest Ledger for the room night which includes the Cut-Off Time. For the period beginning on the day immediately following the Cut-Off Time, such revenues collected from the Guest Ledger shall belong to Buyer and Buyer shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger. For the period beginning on the day immediately following the Cut-Off Time, revenues collected from the Guest Ledger shall belong to Buyer. In the event that an amount less than the total amount due from a guest is collected and such guest continued in occupancy after the Cut-Off Time, such amount shall be pro-rated over the period of such guest’s stay. The provisions of this subsection 9.7(a) will survive the Closing for 180 days.

Guest Ledger. At Closing, Seller shall receive a credit in an amount equal to: (i) all amounts charged to the Guest Ledger for all room nights up to (but not including) the night during which the Cut-Off Time occurs, and (ii) one half (½) of all amounts charged to the Guest Ledger for the room night which includes the Cut-Off Time (other than any restaurant or bar charges on the Guest Ledger, which shall be prorated in accordance with Section 11.2.8 hereof, and any Function Revenues, which shall be prorated in accordance with Section 11.2.12 hereof), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to the Guest Ledger.

Guest Ledger. At the applicable Closing, Sellers will receive a credit in an amount equal to all amounts charged to the Guest Ledger for all room nights up to the night during which the Cut-Off Time occurs (other than any restaurant or bar charges on the Guest Ledger which will be prorated in accordance with Appendix 8.1(b)(ii) below), and Purchaser will be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger. All room revenue for the night during which the Cut-Off Time occurs will be split equally between the applicable Seller and the Purchaser.

Guest Ledger. All revenues received or to be received from transient guests on account of room rents for the period prior to and including the Cut-Off Time shall belong to Seller. At Closing, Seller shall receive a credit in an amount equal to: (i) all amounts charged to the Guest Ledger for all room nights up to (but not including) the night during which the Cut-Off Time occurs, and (ii) one-half of all amounts charged to the Guest Ledger for the room night which includes the Cut-Off Time. For the period beginning on the day immediately following the Cut- Off Time, such revenues collected from the Guest Ledger shall belong to Buyer. In the event that an amount less than the total amount due from a guest is collected and the guest continues in occupancy after the Cut-Off Time, such amount shall be applied first to any amount owing by such person to Seller and thereafter to such person’s amounts accruing to Buyer. The parties’ obligations under this subsection 10.3(a) shall survive the Closing without limitation.

Guest Ledger as to each Hotel, all charges accrued to the open accounts of any guests or customers of such Hotel as of the Apportionment Time for the use or occupancy of any guest, conference or banquet rooms or other facilities at such Hotel, and restaurant, bar or banquet services, or any other goods or services provided by or on behalf of the applicable Seller at such Hotel.

Guest Ledger. With respect to the Asset, at Closing Seller shall receive a credit in an amount equal to the Guest Ledger balances as of the close of business the night before the Closing Date. Purchaser shall be entitled to retain all payments made for such Guest Ledger on or after the Closing Date. Purchaser shall receive a credit for 50% of room revenues and any applicable taxes on such room revenues posted into the Guest Ledger the night before the Closing Date.