Operator Advances Clause Samples

Operator Advances. The Operators may, but are not required to, advance funds to pay Pre-Opening Expenses and Reimbursables on behalf of Owner (any such advance, an “Operator Advance”). All such Operator Advances that are advanced by the Operators shall be itemized, scheduled and submitted to Owner and reimbursement to the Operators shall be made by Owner either directly or by Owner directing the Operators to withdraw such amounts from the Bank Accounts. All such Operator Advances shall be reimbursed upon the Operators’ written request.

Operator Advances. Operator shall not be obligated to advance any of its own funds to or for the account of Owner or for any Operating Expenses or other expenses of Owner, nor to incur any liability on behalf of Owner unless Owner shall have furnished Operator with funds necessary for the discharge thereof. However, if Operator shall for any reason have advanced funds in payment of Operating Expenses or other expenses of Owner in the maintenance and operation of the Property, Owner shall reimburse Operator on demand for such authorized payments.

Operator Advances. The Operator may, but is not required to, advance funds to pay Pre-Opening Expenses and Reimbursables on behalf of Owner (any such advance, an “Operator Advance”). All such Operator Advances that are advanced by the Operator shall be itemized, scheduled and submitted to Owner and reimbursement to the Operator shall be made by Owner either directly or by Owner directing the Operator to withdraw such amounts from the Bank Accounts, in each case subject to any limitations contained in any Loan Document entered into by Owner and approved by Operator. All such Operator Advances shall be reimbursed upon the Operator’s written request or accrued as a payable by Owner until paid, as applicable.