Accounting and Interim Payment. A. Manager shall submit monthly, pursuant to Section 15.02, an interim accounting to Lessee showing Gross Revenues, Deductions, House Profit, Gross Operating Profit and Net Operating Income before Debt Service.
Accounting and Interim Payment. A. Within twenty (20) days after the close of each Accounting Period, Management Company shall submit an accounting to TRS showing Gross Revenues, Operating Expenses, Operating Profit, and distributions thereof for such Accounting Period. Management Company shall retain any periodic Base Management Fee and Incentive Fee due Management Company and, after taking into account the Working Capital needs of the Hotel in accordance with the terms of this Agreement, shall transfer to TRS with each accounting any Operating Profit or other sums then available for distribution to TRS. In addition to the periodic Base Management Fee and Incentive Fee, Management Company shall be entitled to retain to pay or reimburse itself from the Operating Accounts Out-of-Pocket Expenses and any amounts advanced by Management Company for the payment of Operating Expenses or other amounts in accordance with this Agreement.
Accounting and Interim Payment. A. Subject to Section 6.01 C above, within twenty (20) days after the close of each Accounting Period, Management Company shall submit an accounting to Owner showing Gross Revenues, Deductions, Operating Profit, and distributions thereof for such Accounting Period. Management Company shall transfer to Owner with each accounting any Operating Profit or other sums then available for distribution to Owner and shall retain any periodic Base and Incentive Management Fees due Management Company. Such interim accountings shall be in the form of statements reasonably approved by Owner.
Accounting and Interim Payment. A. Within twenty (20) days after the close of each Accounting Period, Manager shall submit an interim accounting to Owner showing Gross Revenues, Deductions, Operating Profit, and applications thereof with respect to the Inns. Manager shall transfer with each accounting any interim amounts due Owner and shall retain any interim amounts due Manager (as described in Section 5.01 hereof). Each accounting will be prepared on a consolidated basis rather than on an individual inn basis.
Accounting and Interim Payment. Article VI - Pre-Opening ------------------------
Accounting and Interim Payment. A. Within twenty (20) days after the close of each Accounting Period after the Effective Date, Tenant shall submit an interim accounting to Landlord showing Gross Revenues and Deductions, Operating Profit and other information necessary in determining the rental hereunder. Tenant shall transfer with each accounting any interim amounts due Landlord pursuant to Section 5.02. Minimum Rental for any Partial Fiscal Year shall be prorated.
Accounting and Interim Payment. A. Within twenty (20) days after the close of each Accounting Period, Management Company shall submit an interim accounting to Owner showing, in reasonable detail, the amount (and calculation where appropriate) of Gross Revenues, Deductions, FF&E Reserve contributions and expenditures, Operating Profit, Ground Rent, Cash Flow Available for Incentive Management Fee and (with respect to 1993 through 1996) Owner's Net Cash Flow, and all retentions, distributions and other applications thereof with respect to the Inns. Management Company shall transfer with each accounting any interim amounts due Owner and shall retain any interim management fees due Management Company (as described in this Article V). Each accounting will be prepared on a consolidated basis rather than on an individual Inn basis. Management Company shall also prepare an accounting showing Gross Revenues, Deductions and Operating Profit on an individual Inn basis.
Accounting and Interim Payment. A. Within twenty (20) days after the close of each Accounting Period, Management Company shall submit an accounting to each Owner showing Gross Revenues, Deductions, Operating Profit, amounts expended from each Reserve, statistics on use, occupancy and discounts and in all respects in conformance with Article 10 of the Operating Agreement. Such accounting shall be in the same form as Exhibit F attached hereto unless otherwise mutually agreed upon by the parties. As required under Article 10 of the Operating Agreement, Gross Revenues, Deductions, and Operating Profit shall be reported separately for the Hotel Facility and Conference Center Facility and any Shared Expenses (as that term is defined in the Operating Agreement) shall be reported on the accounting of each Facility. Management Company shall transfer to Owners with each accounting any Operating Profit or other sums then available for distribution to the Hotel Facility Owner or Conference Center Facility Owner, as the case may be, and shall retain any periodic Hotel Base Management Fee and Conference Center Base Management Fee and any Hotel Incentive Fee and Conference Center Incentive Fee due Management Company. Such reports shall also include an itemized comparison of all costs and expenses incurred during such Accounting Period and during the Fiscal Year through the end of such Accounting Period with the Annual Operating Projection for such Fiscal Year, with a narrative explanation of any variations.
Accounting and Interim Payment. Article VI - Working Capital and Fixed Asset Supplies -----------------------------------------------------
Accounting and Interim Payment. 15 6.03 Reimbursements to Management Company.............................15 6.04
