Security and Reservation Deposits. At Closing, Seller will deliver to Purchaser an amount equal to all security deposits paid to and then held by Seller under the Leases (to the extent that Seller has not otherwise (a) returned the security deposit to a tenant under a Lease, or (b) otherwise applied the security deposit pursuant to any provision of a Lease permitting same), reservation deposits theretofore paid to and then held by Seller with respect to guest rooms and/or other facilities at the Property for periods after Closing, and all credit balances with respect to guests at the Property.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)
Security and Reservation Deposits. At Closing, Seller will deliver to Purchaser an amount equal to all security deposits paid to and then held by Seller under the Leases (to the extent that Seller has not otherwise (a) returned the security deposit to a tenant under a Lease, or (b) otherwise applied the security deposit pursuant to any provision of a Lease permitting same), reservation deposits theretofore paid to and then held by Seller with respect to guest rooms and/or other facilities at the Property for periods after Closing, and all credit balances with respect to guests at the Property.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)
