Guest Ledgers definition
Guest Ledgers means all charges accrued to the open accounts of any guests or customers at the Hotel including, without limitation, the “city ledger” as of the Cut-off Time for the use or occupancy of any guest, conference, or banquet rooms or other facilities at the Hotel, any restaurant, bar or banquet services, or any other goods or services provided by or on behalf of Owner at the Hotel.
Examples of Guest Ledgers in a sentence
At Closing, Facilitator shall receive a credit for all Accounts Receivable (other than the Guest Ledgers which is addressed in Section 10.2(a)), and Purchaser shall be entitled to all amounts collected for such Accounts Receivable.
As to room charges and other income due from guests of the hotel in occupancy through the morning of the Closing Date (“Guest Ledger”), such Guest Ledgers shall be the property of the Purchaser and shall be credited to Seller except for the last night’s room revenues which shall be handled as provided in Section 12(b).