Gross Rental Proceeds definition

Gross Rental Proceeds means all proceeds received by Manager directly attributable to rental of the Unit pursuant to this Agreement other than any applicable bed, excise, sales or similar taxes collected on behalf of and required to be remitted to governmental authorities and other third parties. Gross Rental Proceeds specifically includes resort fees and all revenue, including commissions, actually received from Online Travel Agents (OTAs) with respect to rental of the Unit. Further, Gross Rental Proceeds shall not include, and Unit Owner has no right or claim to, any amounts paid by Resort Guests for additional fees and charges, local and long distance phone service, extra maid or other service, food and beverage services, use of or services provided at the Amenities, events or reservations booked by or through Manager, airport transportation, any forfeited rental deposits, interest on advance booking deposits or other items not customarily included in the rental rate for the Unit, and such sums are not part of Gross Rental Proceeds and are the sole property of Manager. Manager shall, from the Management Fee, pay the cost of credit card fees and other outside costs associated with credit card transactions for the Unit and the cost of commissions, including, but not limited to, commissions for wholesalers, travel agents, and large groups.
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Gross Rental Proceeds means all proceeds received by Manager directly attributable to the rental of the Unit (including any forfeited rental deposits) pursuant to this Agreement other than any amounts adjusted for applicable bed, excise, sales or similar taxes collected on behalf of and required to be remitted to governmental authorities and other third parties. Gross Rental Proceeds shall not include, and Owner has no right or claim to, any amounts paid by Leisure Guests for resort fees, check-in/front desk fees, local and long distance phone service, internet, pay-per-view or other premium cable service, extra maid or other service, spa services, food and beverage services, use of or services provided at any Project amenities, events or reservations booked by or through Manager, transportation, or other items not customarily included in the rental rate for the Unit.
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Examples of Gross Rental Proceeds in a sentence

  • Taxes collected from guests/paid to the tax authorities are not considered part of Gross Rental Proceeds.

  • Manager may, in its sole discretion, apply one hundred percent (100%) of Unit Owner’s portion of the Gross Rental Proceeds to decrease any delinquent account or monies owed Manager at the time of, or in connection with the termination of this Agreement.

  • Notwithstanding anything contained in this Agreement to the contrary, the amounts received by Unit Owner as Unit Owner’s Share of Proceeds will be solely derived from the rental of the Unit and not from the rental of any other unit in the Rental Program and in no event will the Gross Rental Proceeds derived from renting the Unit through the Rental Program be pooled with the gross rental proceeds received by Manager for other units participating in the Rental Program.

  • Manager agrees to pay Unit Owner the remaining amount of Gross Rental Proceeds, i.e., fifty five percent (55%).

  • At the end of each month during the Term, Manager will determine the Gross Rental Proceeds earned during that month and from such sums, will pay Manager for any minor maintenance items as provided for in Section 4(h), and will pay Manager the Management Fee incurred during such month when applicable.

  • As compensation for the management services provided under this Agreement, Unit Owner agrees to pay Manager a fee equal to forty five percent (45%) of Gross Rental Proceeds (the “Management Fee”).

  • Such minor maintenance and repair will be brought to the attention of the Unit Owner, and Manager may reimburse itself for the cost of such minor maintenance items from Gross Rental Proceeds pursuant to Section 3(k) above.

  • If the Gross Rental Proceeds are insufficient to cover the Unit Owner Costs, the Monthly Statement will reflect such fact and Unit Owner must remit the balance due to Manager (the “Unit Owner Cost Deficiency”) within sixty (60) days after delivery of the Monthly Statement.

  • Gross Rental Proceeds specifically includes resort fees and all revenue, including commissions, actually received from Online Travel Agents (OTAs) with respect to rental of the Unit.

  • The foregoing charges are collectively referred to as the “Unit Owner Costs.” After the payments of the Unit Owner Costs, Manager will remit to Unit Owner any remaining Gross Rental Proceeds (“Unit Owner’s Share of Proceeds”) for such month by the 10th business day of the next month, together with a written statement (a “Monthly Statement”) demonstrating how Manager arrived at Unit Owner’s Share of Proceeds.