Remittance to Owner. Contemporaneously with furnishing the Financial Statements for each calendar month to Owner pursuant to Section 4.09, the Operators shall remit to Owner, subject to applicable Laws and the Related Contracts, from the Bank Accounts, an amount by which the total funds in the Bank Accounts exceed the sum of working capital and the current amount on deposit in the Capital Expenditures Fund.
Remittance to Owner. Upon the expiration or termination of this Agreement, after payment of all Operating Expenses for which bills were received to such date, Operator’s Management Fee, Reimbursable Expenses, the Centralized Service Charges, any Termination Fee and any other amounts then due and payable to Operator and/or its Affiliates, and after withholding a reasonable amount determined by Operator to be necessary to pay for any continuing liabilities or payables that may become due following such termination, all remaining amounts in: (i) the Reserve and (ii) the Operating Account, shall be transferred by Operator to Owner.
Remittance to Owner. On or before the 10th day of each month, Manager shall remit to Owner the net profit, if any, shown on the preceding month's income and expense report less budgeted expenses and $5,000.00, for each property which shall be retained by Manager as a reserve to pay expenses that are anticipated but not yet due.
Remittance to Owner. Broker shall, as promptly as practicable, remit monthly rent, net of monies owed to Broker and monies expended for maintenance, repairs, decorations, or replacement to the subject Property, after receipt of rent from tenant.
Remittance to Owner. On or before the last day of each calendar month, Licensee shall remit to Owner for the immediately preceding calendar month (for example, the payment for the month of November will be due on or before December 31), or fraction thereof, during the Term, an amount equal to the Available Funds (as hereafter defined) from Beverage Operations conducted during such immediately preceding calendar month or fraction thereof. As used herein, the term “Available Funds” means for any monthly period, the Beverage Revenues actually received by Licensee during such period minus (a) $500 and (b) Licensee Expenses paid or accrued by Licensee during such period. Notwithstanding anything to the contrary herein, Licensee’s obligation to pay any sum to Owner under this Agreement shall be limited to the Available Funds, Licensee shall have no obligation to advance or supply any other funds for any such payment to Owner, nor shall Owner have recourse to any assets of Licensee other than the Available Funds for the payment or satisfaction of any sum due to Owner under this Agreement.
Remittance to Owner. Contemporaneously with furnishing the monthly statement for each calendar month pursuant to Section 7.4 hereof, Hyatt shall remit to Owner out of the operating accounts an amount (the "Owner's Remittance Amount") by which the total funds then in the operating accounts as of the date of distribution exceed $300,000 (said amount to be adjusted on an annual basis by increases in CPI from the date hereof). At such time Hyatt, if Owner shall so request, shall also provide Owner with Hyatt's good faith estimate of the approximate amount of the next monthly distribution of Owner's Remittance Amount. Hyatt shall not be deemed to have made any representation, warranty or covenant with respect to its estimate of the amount of funds to be available for distribution to Owner, nor shall Hyatt be liable to Owner (or deemed in breach hereunder) if the actual amount available for distribution is materially more or less than the estimated amount. In no event shall Hyatt be required to make a distribution of Owner's Remittance Amount which would reduce the balance in the operating accounts below $300,000 (as adjusted). However, if Hyatt shall determine it is unable to distribute all amounts in excess of $300,000 (as adjusted) on any distribution date, it may retain additional amounts if it shall provide to Owner a written explanation, in reasonable detail, as to the reasons for such lesser distribution and Owner shall approve such retention, which approval shall not be unreasonably withhold. (Notwithstanding the foregoing, during the initial twelve months of the Term, Hyatt shall be obligated to distribute on a monthly basis all funds in the operating accounts except those which Hyatt reasonably determines shall be required to operate the Hotel in accordance with the terms and conditions of this Agreement, and Owner's approval shall not be required if the amount of such distribution is less than the amount of the excess over $300,000 of the funds in the operating accounts.) Each remittance shall be paid to Owner at Owner's address then in effect hereunder for receipt of notices hereunder by Owner, or at such other place as Owner may, from time to time, designate in a notice to Hyatt.
Remittance to Owner. After payment of Gross Operating Expenses, Fees and the transfer to the Reserve, Operator shall remit to Owner on or before the twentieth (20th) day of each calendar month any balance in the Agency Account, less needed Working Capital.
