CASH ALLOCATION ON THE DISTRIBUTION DATE. The allocation between Manor Care and Choice of all domestic and international cash bank balances, short-term investments and outstanding checks and drafts of Manor Care and its subsidiaries recorded per the books of Manor Care and its subsidiaries shall be in accordance with the following: (i) all cash received in, and deposits of cash, checks, drafts or short-term investments made to, depositary accounts as of the close of business on the Distribution Date shall be remitted to Manor Care; and (ii) all pett▇ ▇▇▇h of the Lodging Business shall be allocated to Choice on the Distribution Date; and (iii) all Liabilities for payment of outstanding checks or drafts drawn on or prior to the Distribution Date on accounts allocated to Choice pursuant to Section 2.07(b) shall be paid by Choice.
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Sources: Distribution Agreement (Choice Hotels Holdings Inc)
CASH ALLOCATION ON THE DISTRIBUTION DATE. The allocation between Manor Care and Choice of all domestic and international cash bank balances, short-term investments and outstanding checks and drafts of Manor Care and its subsidiaries recorded per the books of Manor Care and its subsidiaries shall be in accordance with the following:
(i) all cash received in, and deposits of cash, checks, drafts or short-term investments made to, depositary accounts as of the close of business on the Distribution Date shall be remitted to Manor Care; and
(ii) all pett▇ ▇▇▇h ▇▇ cash of the Lodging Business shall be allocated to Choice on the Distribution Date; and
(iii) all Liabilities for payment of outstanding checks or drafts drawn on or prior to the Distribution Date on accounts allocated to Choice pursuant to Section 2.07(b) shall be paid by Choice.
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