Expenditures and Payments Sample Clauses
Expenditures and Payments. A. Marriott, on behalf of and in coordination with the Managers pursuant to their obligations under the Management Agreements, and in each instance subject to the provisions of this Agreement, shall make expenditures, to the extent of the sufficiency of funds available therefor pursuant to this Agreement, for all Aggregate Deductions, and then, to reimburse Marriott or any Affiliate for expenditures to the extent such expenditures have constituted a Manager Reserve Advance pursuant to any of the Management Agreements. Payments made to reimburse Marriott or any Affiliate for expenditures to the extent that such expenditures have constituted a Manager Reserve Advance shall be deducted from Aggregate Operating Profit prior to any other deduction or distribution therefrom except for distributions of Aggregate Tenant’s Priority.
B. Tenant irrevocably directs Marriott to pay and Marriott agrees to pay (or repay, as applicable), from Aggregate Operating Profit, without notice, demand or request therefor, but in each instance subject to the provisions of this Agreement: (i) Aggregate Tenant’s Priority, to Tenant when due and payable hereunder, to the extent of the sufficiency of Aggregate Operating Profit therefor, (ii) distributions to Tenant, Marriott and/or the Managers with respect to the Tenant Advances, Additional Marriott Advances and Additional Manager Advances, (iii) distributions to the Managers with respect to the Aggregate First Incentive Management Fee, (iv) distributions to Tenant to replenish any Security Deposit Advances, (v) distributions to the Managers with respect to the Aggregate Second Incentive Management Fee, and (vi) distributions to Tenant of the remaining balance, if any, in each of the foregoing instances set forth in this Section 4.02.B(i) through (vi), at the time interim distributions are made pursuant to Section 3.01, and to the extent of the sufficiency of and in the order of distribution of Aggregate Operating Profit pursuant to Section 2.02.A.
Expenditures and Payments. The following is an example that can be adapted to locally customary provisions.
Expenditures and Payments. A. For so long as this Agreement remains in full force and effect, the Owners irrevocably direct the Manager pursuant to its obligations under the Management Agreements, and in each instance subject to the provisions of this Agreement, to make, expenditures for all Aggregate Facility Expenses, including, without limitation, retention of the Aggregate Base Management Fee (excluding the Aggregate Subordinate Management Fee). All payments made by the Manager hereunder with respect to the Properties shall be made from authorized bank accounts, ▇▇▇▇▇ cash funds, or Pooled Working Capital.
B. Owner irrevocably directs the Manager to pay and the Manager agrees to pay, from Aggregate Facility Profit, without notice, demand or request therefor, but in each instance subject to the provisions of this Agreement, any distributions provided for in Section 2.02.A, at the time interim distributions are made pursuant to Section 2.02B, and to the extent of the sufficiency of and in the order of distribution of Aggregate Facility Profit pursuant to Section 2.02.A and subject to any adjustments pursuant to Section 3.02.
Expenditures and Payments a. Payments made by the Commission to the Grantee pursuant to the Contract are conditioned upon the availability to the Commission of funds authorized for expenditure in the manner and for the purpose provided herein. The Commission is not liable for any purchases or work entered into by the Grantee prior to the effective date of this Contract.
b. 1) Fixed cost and reimbursable payments are conditioned upon receipt and approval by the Project Manager of the Deliverable(s) specified in the Scope of Work and an applicable, accurate, and complete payment request prepared by the Grantee.