WORKING CAPITAL AND FIXED ASSET SUPPLIES Sample Clauses

WORKING CAPITAL AND FIXED ASSET SUPPLIES. 7.01 Working Capital and Inventories -------------------------------
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WORKING CAPITAL AND FIXED ASSET SUPPLIES. 7.01 Working Capital and Inventories ------------------------------- The parties recognize that Seller shall sell to Owner, who shall in turn provide to Management Company, as agent, the initial Working Capital and Inventories for the Inns. Management Company believes that the level of initial Working Capital so provided should be reasonably sufficient for each Inn to operate as a fully functioning Fairfield Inn as of the Effective Date (or in the case of the Development Inns, as of the their purchase dates) and for a period of at least six (6) months thereafter. Owner shall from time to time thereafter promptly advance, upon request of Management Company, any additional funds necessary to maintain Working Capital and Inventories at levels reasonably determined by Management Company to be necessary to satisfy the needs of each Inn as its operation may from time to time require. Funds so advanced for Working Capital shall be utilized by Management Company on behalf of Owner for the purposes of this Agreement pursuant to cash-management policies established for the Fairfield Inn system, but Owner shall be the beneficial owner of all such funds throughout the term of this Agreement. Upon Termination with respect to any Inn or Inns, Management Company shall return to Owner any unused Working Capital (including Inventories), except for Inventories purchased by Management Company pursuant to Section 10.02.
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WORKING CAPITAL AND FIXED ASSET SUPPLIES. 6.01 Working Capital and Inventories ------------------------------- Owner shall from time to time promptly advance, upon request of Management Company, any funds necessary to maintain Working Capital and Inventories at levels reasonably determined by Management Company to be necessary to satisfy the needs of each Hotel as its operation may from time to time require. Funds so advanced for Working Capital shall be utilized by Management Company on behalf of Owner for the purposes of this Agreement pursuant to cash-management policies established for the other Marriott full-service hotels owned, leased or managed by Management Company or another Marriott Affiliate in the United States, but Owner shall be the beneficial owner of all such funds throughout the term of this Agreement. Upon Termination with respect to any Hotel or Hotels, Management Company shall return to Owner any unused Working Capital (including Inventories), except for Inventories purchased by Management Company pursuant to Section 9.02.
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WORKING CAPITAL AND FIXED ASSET SUPPLIES. 7.01 Working Capital and Inventories ------------------------------- Tenant shall provide the funds to initially supply the Hotel with the amount of Working Capital and Inventories which Tenant determines, in its reasonable business judgment, to be needed for the operation of the Hotel, presently estimated to be Six Hundred Forty Thousand Dollars ($640,000) for Working Capital (and Inventories). During the term hereof, Tenant shall maintain Working Capital at levels which it reasonably believes to be necessary for the operational requirements of the Hotel. All replacements to Inventories shall be funded from Gross Revenues and shall constitute a Deduction from Gross Revenues in determining Operating Profit. The Working Capital and Inventories of the Hotel shall be the property of Tenant during the term of this Lease and upon Termination.
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WORKING CAPITAL AND FIXED ASSET SUPPLIES. 6.01 Working Capital --------------- Owner has, prior to the Amendment Date, provided to Manager funds for Working Capital. Owner and Manager agree that, immediately prior to the Amendment Date, a portion of such Working Capital funds in the amount of Fifty Thousand Dollars ($50,000) was deemed to be held by Manager pursuant to the new separate management agreement for the Bossier City Inn, and the balance of the Working Capital funds supplied by Owner shall continue to be held by Manager pursuant to the terms hereof. Owner shall from time to time hereafter advance within fifteen (15) days after receipt of Manager's written request any additional funds necessary to maintain Working Capital at levels determined by Manager to be necessary to satisfy the needs of each Inn as its operation may from time to time require. In the event Owner fails to advance additional Working Capital within said fifteen (15) day period, Manager may, in addition to any other rights or remedies available to it at law or in equity: (i) retain the required amounts from any portion of Operating Profit otherwise to be retained by Owner, (ii) make a Manager Loan to Owner in accordance with Section 5.05, and (iii) terminate this Agreement upon not less than thirty (30) days written notice to Owner. Funds so advanced for Working Capital shall be utilized by Manager on behalf of Owner for the purposes of this Agreement pursuant to cash- management policies established for the System. With the exception of the outstanding balance of all Working Capital advances by Manager made as Manager Loans, Owner shall be the beneficial owner of all such funds throughout the term of this Agreement. Upon Termination with respect to any Inn or Inns, Manager shall return to Owner any unused Working Capital, except for Inventories purchased by Manager pursuant to Section 9.02 and except for the outstanding balance of all Working Capital advances by Manager made as Manager Loans.
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WORKING CAPITAL AND FIXED ASSET SUPPLIES. 6.01 Working Capital and Inventories ------------------------------- Lessee shall from time to time after the Execution Date, within thirty (30) days of a request by Manager, advance any funds necessary to maintain Working Capital and Inventories at levels reasonably determined by Manager to be necessary to satisfy the needs of each Inn as its operation may from time to time require. Funds so advanced for Working Capital shall be utilized by Manager on behalf of Lessee for the purposes of this Agreement pursuant to cash- management policies established for the System, but Lessee shall be the beneficial owner of all such funds throughout the term of this Agreement. Upon Termination with respect to any Inn or Inns, Manager shall return to Lessee any unused Working Capital and Inventories allocable to such Inn or Inns, except for Inventories purchased by Manager pursuant to Section 9.02.
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WORKING CAPITAL AND FIXED ASSET SUPPLIES 
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