Utility and Other Deposits. At Closing, Seller shall receive a credit for all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service Contract, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Morgans Hotel Group Co.), Purchase and Sale Agreement (Pebblebrook Hotel Trust), Purchase and Sale Agreement (LaSalle Hotel Properties)
Utility and Other Deposits. At Closing, to the extent to which Purchaser is entitled to receive the benefit thereof, Seller shall receive a credit for all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service ContractOperating Agreement, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Procaccianti Hotel Reit, Inc.)
Utility and Other Deposits. (a) At Closing, Seller shall receive a credit for all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service ContractContract which are transferred to Buyer at Closing, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 1 contract
Utility and Other Deposits. At Closing, Seller shall be entitled to receive a credit for and retain all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service Contract, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Morgans Hotel Group Co.)
Utility and Other Deposits. (a) At Closing, Seller shall receive a credit for all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service ContractContract and Seller shall assign to Purchaser all right, title and interest in and to such refundable cash or other deposits, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 1 contract
Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Pebblebrook Hotel Trust)
Utility and Other Deposits. (a) At Closing, Seller shall receive a credit for all refundable cash or other deposits posted with utility companies serving the Property or any governmental agencies or authorities or posted pursuant to any Service ContractOperating Agreement, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits.
Appears in 1 contract
Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Ashford Hospitality Trust Inc)
