Operations Settlement Sample Clauses
The Operations Settlement clause defines the procedures and responsibilities for reconciling and finalizing operational transactions between parties. Typically, it outlines how and when parties must report, verify, and settle accounts related to shared operations, such as the delivery of goods, provision of services, or financial exchanges. By establishing clear timelines and methods for resolving discrepancies, this clause ensures accurate record-keeping and timely resolution of outstanding balances, thereby minimizing disputes and promoting smooth business operations.
Operations Settlement. A final accounting prepared by Sellers’ and Buyer’s accountants in the period between eight o’clock p.m. (local time) on the day prior to the Closing Date and eight o’clock a.m. (local time) on the Closing Date, the results of which shall be incorporated into the closing statement.
Operations Settlement. The items listed in subclauses (a) through (c) of this Section 4.2 shall be determined by the Operations Settlement. Any amounts determined to be due and owing to Sellers pursuant to the Operations Settlement shall be paid for by Buyer, by cashier’s or certified check payable directly (and not by way of endorsement) to Sellers (or to a “qualified intermediary” designated by Sellers) or by wiring of federal funds to the account designated by Sellers (or by a “qualified intermediary” designated by Sellers), no later than 12:00 noon (Central Time) on the day immediately following the Closing Date. Each party shall bear its own costs of participation in the preparation of the Operations Settlement.
Operations Settlement. Room Revenues for the night prior to the Closing Date (e.g., if the Closing Date is June 15, 2005, Room Revenues for the period of time commencing on the evening of June 14, 2005 and ending on the morning of June 15, 2005), prepaid deposits for confirmed reservations, hotel facilities and services for periods after the Transfer Time; and the purchase price for the Tray Ledgers, House Funds and Accounts Receivable shall be determined by the Operations Settlement. As the Closing Date's financial results are necessary for completion of the Operations Settlement, Buyer agrees to the Hotel's employees' completion of posting of financial activity, all schedules, credit card billings, and all other activities normally associated with the dail▇ ▇▇▇▇▇▇ty of the Hotels. Any amounts determined to be due and owing to Sellers by Buyer or to Buyer by Sellers pursuant to the Operations Settlement shall be incorporated into the Closing Statements but to the extent that any of the foregoing information is unavailable or is found to be inaccurate, the same shall be handled as a post-closing adjustment, the obligations of which shall survive the Closing.
Operations Settlement. Room Revenues for the night prior to the Closing Date (e.g., if the Closing Date is June 15, 2005, Room Revenues for the period of time commencing on the evening of June 14, 2005 and ending on the morning of June 15, 2005), prepaid deposits for confirmed reservations, hotel facilities and services for periods after the Closing; and the purchase price for the Tray Ledgers, House Funds and Accounts Receivable shall be determined by the Operations Settlement. As the Closing Date’s financial results are necessary for completion of the Operations Settlement, CNL agrees to the Contributed Hotel’s employees’ completion of posting of financial activity, all schedules, credit card ▇▇▇▇▇▇▇▇, and all other activities normally associated with the daily activity of the Contributed Hotels. Any amounts determined to be due and owing to Wolf or any applicable Affiliate of Wolf by the Partnership or to the Partnership by Wolf or any applicable Affiliate of Wolf pursuant to the Operations Settlement shall be incorporated into the Closing Statements but to the extent that any of the foregoing information is unavailable or is found to be inaccurate, the same shall be handled as a post-closing adjustment, the obligations of which shall survive the Closing.
Operations Settlement. Room Revenues for the night of the Closing Date; prepaid deposits for confirmed reservations for Hotel/Casino facilities and services for periods after the Transfer Time; and the purchase price for the Tray Ledger shall be determined by the Operations Settlement. Any amounts determined to be due and owing to Seller pursuant to the Operations Settlement shall be paid for by Buyer, by cashier’s or certified check payable directly to Seller (and not by way of endorsement) or by wiring of federal funds to the account designated by Seller, no later than 12:00 noon (Central Time) on the day immediately following the Closing Date.
Operations Settlement. The items listed in subclauses (a) through (c) of this Section 9.02 shall be determined by the Operations Settlement. Any amounts determined to be due and owing to HHLV pursuant to the Operations Settlement shall be paid for by Speakeasy, by cashier’s or certified check payable directly (and not by way of endorsement) to HHLV or by wiring of federal funds to the account designated by HHLV, no later than 12:00 noon (Las Vegas Time) on the day immediately following the Termination Date. Each party shall bear its own costs of participation in the preparation of the Operations Settlement.
Operations Settlement. The parties hereby agree that:
Operations Settlement. As soon as reasonably practicable prior to the Closing Date, the parties shall conduct, or cause to be conducted, a preliminary operations settlement (“Operations Settlement”). The Operations Settlement shall contain the parties’ best estimate of the amounts of items to be prorated and adjusted pursuant to this Agreement (including the prorations and the items set forth below):
Operations Settlement as defined in Section 10.1.1.
Operations Settlement a. At least two (2) Business Days prior to the Closing, Seller shall prepare and deliver to Purchaser an estimated accounting for the Property, as of the Transfer Time, of each of the items listed in subclauses (i) through (iii) of this Section 2.8(a) (the “Estimated Operations Statement”), which shall be estimated in good faith by Seller based on its books and records. The Estimated Purchase Price payable by Purchaser at the Closing pursuant to Section 2.5(b)(i) shall be increased by the net value of the items set forth in the Estimated Operations Statement (the “Estimated Operations Payment”). The items listed in subclauses (i) through (iii) of this Section 2.8(a) shall be considered part of the Estimated Operations Statement; provided that any items included in the Estimated Operations Statement shall not be included in the sample statement of Net Working Capital to avoid duplication.