Common use of Payment Source Clause in Contracts

Payment Source. It is the intent of the parties that the Management Fee hereunder due shall be payable from revenues generated by the Hotel. However, it is acknowledged by the parties that in order to meet the requirements of Rev. Proc. 2017-13 and Section 1.2 hereof, should there be insufficient revenues to make a Management Fee payment when due, such payment (i) may be paid by the Corporation from any available moneys or (ii) deferred. If deferred, such payment along with any reasonable interest or late payment fees shall be paid no later than the end of five years after the original due date of the payment, unless there is delivered to the Corporation an approving opinion of nationally recognized bond counsel that such period may be extended without adversely affecting the tax-exemption of interest on the Bonds and any other tax-exempt outstanding obligations that financed or refinanced the Hotel.