Common use of Safe Deposit Boxes Clause in Contracts

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to guests in the Hotel who have safe deposit boxes advising them of the sale of the Hotel to Purchaser and the procedures to be followed pursuant to this Section 5.6.1. On the Closing Date, Seller shall deliver to Purchaser all keys to the safe deposit boxes in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative to be agreed upon between Purchaser and Seller. Purchaser shall be responsible for all boxes once the seal is broken, and for the contents of all boxes which are verified. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Date, the seal of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.1.

Safe Deposit Boxes. On the day prior Prior to the Closing Date, Seller shall endeavor to send written notice to guests or tenants or other persons who to Seller’s or its Manager’s knowledge have possessions locked in safe-deposit boxes at the Hotel who have safe deposit boxes advising them of the sale of the Hotel (excluding in-room safes) to Purchaser Buyer and requesting removal of the contents thereof or the removal thereof and concurrent re-deposit of such contents pursuant to new safe deposit agreements with Buyer. Seller and Buyer shall have representatives present when the boxes are opened and the procedures contents thereof shall be inventoried. If the guest does not timely respond to be followed pursuant to this Section 5.6.1. On the Closing DateSeller’s notice, Seller shall deliver to Purchaser all keys to the safe deposit boxes box may, if Seller, in its sole discretion, so agrees, be broken open in the presence of Seller and Buyer and the contents inventoried and re-deposited in a new “safe deposit” box. Buyer shall be solely responsible for all items in the Hotel, all receipts and agreements relating to such ’s safe deposit boxes, and a complete list of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative to be agreed upon between Purchaser and Seller. Purchaser shall be responsible for all boxes once the seal is broken, and for the contents of all boxes which are verifiedhad been so inventoried, removed and re-deposited and Buyer hereby agrees to indemnify, defend and hold Seller harmless from and against any and all liability therefor. Seller shall be responsible hereby agrees to indemnify and hold Buyer harmless from and against any and all liability for any claims pertaining to any property allegedly deposited in a safe deposit arising prior to the Closing Date, Date relating to such items not listed on the seal inventory. The provisions of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.17.17 shall survive the Closing.

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to notify all guests in of the Hotel who have safe deposit boxes advising them of the pending sale of the Hotel to Purchaser and requesting the procedures to be followed pursuant to this Section 5.6.1. On removal and verification of the Closing Date, Seller shall deliver to Purchaser all keys to the contents of such safe deposit boxes within three days thereafter. Seller may have a representative present at the Hotel during such period for the purpose of viewing such removal and verification. Boxes of guests not responding to the written notice shall be listed at the end of such three day period. Such boxes shall be opened on the following day in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list presence of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative Purchaser to be agreed upon between Seller and Purchaser and Sellerthe contents thereof shall be recorded. Any property contained in the safe deposit boxes and so recorded and thereafter remaining in the hands of Purchaser shall be responsible for all boxes once the seal is brokenresponsibility of Purchaser; and Purchaser hereby agrees to indemnify, defend and for the contents save and hold Seller harmless from and against any Claim or obligation arising out of all boxes which are verifiedor with respect to such recorded property. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Datefor, the seal of which was not broken. Each of Seller and Purchaser shall indemnify indemnify, defend and hold the other Purchaser harmless from and against all claims against, any Claim arising with respect to property placed in the safe deposit boxes before the Closing that is not listed in said inventory. Subject to Sections 5.4 and losses arising from such indemnifying party’s obligations under 5.5, the indemnities set forth in this Section 5.6.18.3(a) shall survive the Closing.

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to notify all guests in of the Hotel who have safe deposit boxes advising them of the pending sale of the Hotel to Purchaser Property and requesting the procedures to be followed pursuant to this Section 5.6.1. On removal and verification of the Closing Date, Seller shall deliver to Purchaser all keys to the contents of such safe deposit boxes within three days thereafter. Seller may have a representative present at the Hotel during such period for the purpose of viewing such removal and verification. Boxes of guests not responding to the written notice shall be listed at the end of such three day period. Such boxes shall be opened on the following day in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list presence of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative Purchaser to be agreed upon between Seller and Purchaser and Sellerthe contents thereof shall be recorded. Any property contained in the safe deposit boxes and so recorded and thereafter remaining in the hands of Purchaser shall be responsible for all boxes once the seal is brokenresponsibility of Purchaser; and Purchaser hereby agrees to indemnify, defend and for the contents save and hold Seller harmless from and against any Claim or obligation arising out of all boxes which are verifiedor with respect to such recorded property. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Datefor, the seal of which was not broken. Each of Seller and Purchaser shall indemnify indemnify, defend and hold the other Purchaser harmless from and against all claims and losses against, any Claim arising from such indemnifying party’s obligations under with respect to property placed in the safe deposit boxes before the Closing that is not listed in said inventory. The indemnities set forth in this Section 5.6.15.3(a) shall survive the Closing.

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to guests in the Hotel who have safe deposit boxes advising them of the sale of the Hotel to Purchaser and the procedures to be followed pursuant to this Section 5.6.1. On the Closing Date, Seller shall deliver to Purchaser Buyer all keys to the any safe deposit boxes in at the Hotel, all receipts and agreements relating to such safe deposit boxes, boxes and a complete list of safe deposit boxes which are then being used, which list shall contain the name and room number of each depositor. Each box in use by a Hotel If any guest shall then rent any safe deposit box after Seller shall have given to Buyer such keys, Buyer shall be sealed by representatives of Seller and Purchasersolely responsible for all property deposited into such safe deposit box. At Purchaser’s option, guests may be requested to remove and verify On the contents of the sealed boxes day immediately prior to the Close Closing Date, Seller shall send a written notice to guests at the Hotel who then are utilizing safe deposit boxes, advising them of Escrowthe pending sale of the Hotel to Buyer and the procedures to be followed pursuant to this Paragraph and requesting the removal and verification of the contents thereof on the day immediately preceding the Closing Date. All such removals and verifications shall be under the joint supervision of a representative to be agreed upon between Purchaser Buyer and Seller, and the contents recorded. Purchaser Any property in safe deposit boxes as of the Closing Date (whether or not so recorded) shall be responsible for all boxes once the seal is broken, responsibility of Buyer. The obligations of Buyer and for the contents of all boxes which are verified. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Date, the seal of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.1Paragraph shall survive the Closing.

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to notify all guests in of the Hotel who have safe deposit boxes advising them of the pending sale of the Hotel to Purchaser and requesting the procedures to be followed pursuant to this Section 5.6.1. On removal and verification of the Closing Date, Seller shall deliver to Purchaser all keys to the contents of such safe deposit boxes within three days thereafter. Seller may have a representative present at the Hotel during such period for the purpose of viewing such removal and verification. Boxes of guests not responding to the written notice shall be listed at the end of such three day period. Such boxes shall be opened on the following day in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list presence of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative Purchaser to be agreed upon between Seller and Purchaser and Sellerthe contents thereof shall be recorded. Any property contained in the safe deposit boxes and so recorded and thereafter remaining in the hands of Purchaser shall be responsible for all boxes once the seal is brokenresponsibility of Purchaser; and Purchaser hereby agrees to indemnify, defend and for the contents save and hold Seller harmless from and against any Claim or obligation arising out of all boxes which are verifiedor with respect to such recorded property. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Datefor, the seal of which was not broken. Each of Seller and Purchaser shall indemnify indemnify, defend and hold the other Purchaser harmless from and against all claims and losses against, any Claim arising from such indemnifying party’s obligations under with respect to property placed in the safe deposit boxes before the Closing that is not listed in said inventory. The indemnities set forth in this Section 5.6.18.3(a) shall survive the Closing.

Safe Deposit Boxes. On the day prior Prior to the Closing Date, Seller shall endeavor to send written notice to guests or tenants or other persons who to Seller’s or its Manager’s knowledge have possessions locked in safe-deposit boxes at the Hotel who have safe deposit boxes advising them of the sale of the Hotel (excluding in-room safes) to Purchaser Buyer and requesting removal of the contents thereof or the removal thereof and concurrent re-deposit of such contents pursuant to new safe deposit agreements with Buyer. Seller and Buyer shall have representatives present when the boxes are opened and the procedures contents thereof shall be inventoried. If the guest does not timely respond to be followed pursuant to this Section 5.6.1. On the Closing DateSeller’s notice, Seller shall deliver to Purchaser all keys to the safe deposit boxes box may, if Seller, in its sole discretion, so agrees, be broken open in the presence of Seller and Buyer and the contents inventoried and re-deposited in a new “safe deposit” box. Buyer shall be solely responsible for all items in the Hotel, all receipts and agreements relating to such ’s safe deposit boxes, and a complete list of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative to be agreed upon between Purchaser and Seller. Purchaser shall be responsible for all boxes once the seal is broken, and for the contents of all boxes which are verifiedhad been so inventoried, removed and re-deposited and Buyer hereby agrees to indemnify, defend and hold Seller harmless from and against any and all liability therefor. Seller shall be responsible hereby agrees to indemnify and hold Buyer harmless from and against any and all liability for any claims pertaining to any property allegedly deposited in a safe deposit arising prior to the Closing Date, Date relating to such items not listed on the seal inventory. The provisions of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.16.4.17 shall survive the Closing.

Safe Deposit Boxes. On the day prior Prior to the Closing Date, Seller ------------------ shall endeavor to send written notice to guests or tenants or other persons who to Seller's or its Manager's knowledge have possessions locked in safe-deposit boxes at the Hotel who have safe deposit boxes advising them of the sale of the Hotel (excluding in-room safes) to Purchaser Buyer and requesting removal of the contents thereof or the removal thereof and concurrent re-deposit of such contents pursuant to new safe deposit agreements with Buyer. Seller and Buyer shall have representatives present when the boxes are opened and the procedures contents thereof shall be inventoried. If the guest does not timely respond to be followed pursuant to this Section 5.6.1. On the Closing DateSeller's notice, Seller shall deliver to Purchaser all keys to the safe deposit boxes box may, if Seller, in its sole discretion, so agrees, be broken open in the presence of Seller and Buyer and the contents inventoried and re-deposited in a new "safe deposit" box. Buyer shall be solely responsible for all items in the Hotel, all receipts and agreements relating to such 's safe deposit boxes, and a complete list of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative to be agreed upon between Purchaser and Seller. Purchaser shall be responsible for all boxes once the seal is broken, and for the contents of all boxes which are verifiedhad been so inventoried, removed and re-deposited and Buyer hereby agrees to indemnify, defend and hold Seller harmless from and against any and all liability therefor. Seller shall be responsible hereby agrees to indemnify and hold Buyer harmless from and against any and all liability for any claims pertaining to any property allegedly deposited in a safe deposit arising prior to the Closing Date, Date relating to such items not listed on the seal inventory. The provisions of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.17.18 shall survive the Closing.

Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to notify all guests in of the Hotel who have safe deposit boxes advising them of the pending sale of the Hotel to Purchaser Property and requesting the procedures to be followed pursuant to this Section 5.6.1. On removal and verification of the Closing Date, Seller shall deliver to Purchaser all keys to the contents of such safe deposit boxes within three days thereafter. Seller may have a representative present at the Hotel during such period for the purpose of viewing such removal and verification. Boxes of guests not responding to the written notice shall be listed at the end of such three day period. Such boxes shall be opened on the following day in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list presence of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative Purchaser to be agreed upon between Seller and Purchaser and Sellerthe contents thereof shall be recorded. Any property contained in the safe deposit boxes and so recorded and thereafter remaining in the hands of Purchaser shall be responsible for all boxes once the seal is brokenresponsibility of Purchaser; and Purchaser hereby agrees to indemnify, defend and for the contents save and hold Seller harmless for, from and against any Claim or obligation arising out of all boxes which are verifiedor with respect to such recorded property. Seller shall be responsible for for, and shall indemnify, defend and hold Purchaser harmless for, from and against, any claims pertaining Claim arising with respect to any property allegedly deposited placed in a the safe deposit prior to boxes before the Closing Date, the seal of which was that is not brokenlisted in said inventory. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under The indemnities set forth in this Section 5.6.17.3(a) shall survive the Closing.