Common use of Payment of Operating Expenses Clause in Contracts

Payment of Operating Expenses. (i) Provided that no Event of Default has occurred and is continuing, and provided that all amounts required to be deposited into the Sub-Accounts set forth in Sections 2.11(d)(i) through (vi) for the Current Interest Accrual Period have been deposited therein, Lender shall transfer within two Business Days thereafter at Borrowers’ sole cost and expense, to an account designated by the Borrowers, all amounts contained in the Hotel Operating Sub-Accounts up to an amount equal to the amount set forth in the Approved Budget for such Interest Accrual Period provided, however, that the aggregate withdrawals from the Hotel Operating Sub-Account pursuant to this Section 2.11(f)(i) for any Interest Accrual Period shall not exceed the amount set forth in the Approved Budget for such Interest Accrual Period (except to the extent set forth in subsection (ii), below).

Payment of Operating Expenses. (i) Provided that no Event of Default has occurred and is continuing, and provided that all amounts required to be deposited into the Sub-Accounts set forth in Sections 2.11(d)(i) through (vi) for the Current Interest Accrual Period have been deposited therein, Lender shall transfer within two Business Days thereafter at Borrowers’ ' sole cost and expense, to an account designated by the Borrowers, all amounts contained in the Hotel Operating Sub-Accounts up to an amount equal to the amount set forth in the Approved Budget for such Interest Accrual Period provided, however, that the aggregate withdrawals from the Hotel Operating Sub-Account pursuant to this Section 2.11(f)(i) for any Interest Accrual Period shall not exceed the amount set forth in the Approved Budget for such Interest Accrual Period (except to the extent set forth in subsection (ii), below).

Payment of Operating Expenses. (i) Provided that no Event of Default has occurred and is continuing, and provided that all amounts required to be deposited into the Sub-Accounts set forth in Sections 2.11(d)(i) through (vi) for the Current Interest Accrual Period have been deposited therein, Lender shall transfer within two Business Days thereafter at Borrowers’ Borrower’s sole cost and expense, to an account designated by the BorrowersBorrower, all amounts contained in the Hotel Operating Sub-Accounts up to an amount equal to the amount set forth in the Approved Budget for such Interest Accrual Period provided, however, that the aggregate withdrawals from the Hotel Operating Sub-Account pursuant to this Section 2.11(f)(i) for any Interest Accrual Period shall not exceed the amount set forth in the Approved Budget for such Interest Accrual Period (except to the extent set forth in subsection (ii), below).