Common use of Accounts, Expenditures Clause in Contracts

Accounts, Expenditures. A. Manager will deposit all funds derived from operation of the Resort in bank accounts (the "Operating Accounts") in a bank or banks, identified and selected by Owner, subject to Manager's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable pett▇ ▇▇▇h funds shall be maintained at the Resort. B. All payments made by Manager hereunder shall be made from the Operating Accounts or pett▇ ▇▇▇h funds. Manager shall not be required to make any advance or payment with respect to the Resort except out of such funds, and Manager shall not be obligated to incur any liability or obligation with respect to the Resort. In any event, if any such liability or obligation is incurred by Manager with respect to the Resort, Manager shall have the option to deduct such amounts from Owner's share of Operating Profit if Owner has not fully reimbursed Manager for said amounts within ten (10) days after Owner's receipt of notice from Manager that said amounts are due. C. Debts and liabilities incurred by Manager as a result of its operation and management of the Resort pursuant to the terms hereof, whether asserted before or after Termination, will be paid by Owner to the extent funds are not available for that purpose from Gross Receipts. The provisions of this Section 4.03.C shall survive Termination.

Accounts, Expenditures. A. Manager will deposit all All funds derived from operation of the Resort Hotel shall be deposited by Manager in bank accounts (the "“Operating Accounts"”) established by Manager in a bank or banks, identified and selected banks designated by Owner, subject to Manager's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable pett▇ ▇▇▇h ▇▇ cash funds shall be maintained at the ResortHotel. B. All payments made by Manager hereunder shall be made from the Operating Accounts or pett▇ Accounts, ▇▇▇h ▇▇ cash funds, or from the FF&E Reserve (in accordance with Section 5.02). Manager shall not be required to make any advance or payment with respect to the Resort Hotel except out of such funds, and Manager shall not be obligated to incur any liability or obligation with respect to the ResortHotel. In any event, if any such liability or obligation is incurred by Manager with respect to the ResortHotel, Manager shall have the option to deduct such amounts from Owner's ’s share of Operating Profit if Owner has not fully reimbursed Manager for said amounts within ten (10) days after Owner's ’s receipt of notice from Manager that said amounts are due. C. Debts and liabilities incurred by Manager as a result of its operation and management of the Resort Hotel pursuant to the terms hereof, whether asserted before or after Termination, will be paid by Owner to the extent funds are not available for that purpose from Gross ReceiptsRevenues. The provisions of this Section 4.03.C 4.03.C. shall survive Termination.

Accounts, Expenditures. A. Manager will deposit all funds derived from operation of the Resort in bank accounts (the "Operating Accounts") in a bank or banks, identified and selected by Owner, subject to Manager's reasonable approval. Withdrawals from said Operating Accounts shall be made solely by representatives of Manager whose signatures have been authorized. Reasonable pett▇ ▇▇▇h funds shall be maintained at the Resort. B. All payments made by Manager hereunder shall be made from the Operating Accounts or pett▇ ▇▇▇h funds. Manager shall not be required to make any advance or payment with respect to the Resort except out of such funds, and Manager shall not be obligated to incur any liability or obligation with respect to the Resort. In any event, if any such liability or obligation is incurred by Manager with respect to the Resort, Manager shall have the option to deduct such amounts from Owner's share of Operating Profit if Owner has not fully reimbursed Manager for said amounts within ten (10) days after Owner's receipt of notice from Manager that said amounts are due. C. Debts and liabilities incurred by Manager as a result of its operation and management of the Resort pursuant to the terms hereof, whether asserted before or after Termination, will be paid by Owner to the extent funds are not available for that purpose from Gross ReceiptsRevenues. The provisions of this Section 4.03.C shall survive Termination.