Common use of Guest Ledger Clause in Contracts

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 (1/2) 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 11.2.9), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ashford Hospitality Trust Inc)

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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 one-half (1/2½) 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 11.2.911.2.11), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Carey Watermark Investors Inc)

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 one-half (1/2½) 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 11.2.911.2(j)), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Westin Hotels LTD Partnership)

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 (1/2) 50% 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 11.2.910.2.7), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Lightstone Value Plus Real Estate Investment Trust V, Inc.)

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 one-half (1/2½) 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 11.2.9XI.B.10), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (DiamondRock Hospitality Co)

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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 (( 1/2) of all amounts charged to the Guest Ledger for the room night which includes the Cut-Off Time net of any occupancy or sales tax due with respect thereto (other than any restaurant or bar charges on the Guest Ledger which shall be prorated in accordance with Section 11.2.911.2.11), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Chesapeake Lodging Trust)

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 (( 1/2) of all amounts charged to the Guest Ledger for the room night which includes the Cut-Off Time net of any occupancy or sales tax due with respect thereto (other than any restaurant or bar charges on the Guest Ledger which shall be prorated in accordance with Section 11.2.911.2.10), and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Highland Hospitality Corp)

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 one-half (1/2) 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 for such room night which shall be are otherwise prorated in accordance with under Section 11.2.9), 10.1) and Purchaser shall be entitled to retain all deposits made and amounts collected with respect to for such Guest Ledger.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Westin Hotels LTD Partnership)

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