Safe Deposit Boxes Sample Clauses
The Safe Deposit Boxes clause outlines the terms and conditions under which tenants or customers may rent and use safe deposit boxes provided by a bank or other institution. Typically, this clause specifies the procedures for accessing the boxes, the responsibilities of both the institution and the renter regarding the contents, and any limitations on liability for loss or damage. For example, it may clarify that the institution does not insure the contents and that access is limited to authorized individuals. The core function of this clause is to establish clear rules and allocate responsibility, thereby reducing disputes and managing risk related to the use of safe deposit boxes.
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Safe Deposit Boxes. On the Closing Date, Seller shall cause the delivery to Purchaser of all of Tenant’s or Owner’s keys to the safe deposit boxes in the hotel operated from the Real Property, together with all receipts and agreements relating to such safe deposit boxes. Tenant and Owner shall be deemed to have delivered the same to the extent such materials are in Manager’s possession on the Closing Date. Immediately after the Closing Date, Purchaser shall send written notices to those Persons who have safe deposit boxes, advising them of the sale of the Property to Purchaser and requesting the removal and verification of the contents of their safe deposit boxes within three (3) days after the Closing Date and advising that such boxes may be opened if no response is made within such period. Seller shall have a representative at the Property during such period. All such removals and verifications during said three (3) days shall be under the supervision of a representative or representatives to be agreed upon between Purchaser and Seller. The boxes of guests who have not responded to such written notice by so removing and verifying the contents thereof shall remain unopened and shall be listed at the end of such three (3) day period, which list shall be signed by Seller’s and Purchaser’s respective representatives. The boxes of guests who have not responded shall be opened at the end of the third (3rd) day after the Closing Date in the presence of a representative or representatives to be agreed upon between Purchaser and Seller and the contents recorded. Any such contents so recorded and thereafter remaining in the hands of Manager or Purchaser and the contents of any unopened boxes shall be the responsibility of the Purchaser and Purchaser hereby agrees to indemnify and hold the Seller Indemnitees harmless from and against any and all losses, costs, liens, claims, liabilities or damages (including, but not limited to, reasonable attorneys’ fees and disbursements) arising in connection therewith. Seller shall remain responsible for any claims pertaining to property allegedly deposited in safe deposit boxes prior to the Closing Date, opened during the said three (3) day period but missing from said boxes when opened, and Seller agrees to indemnify and hold the Purchaser Indemnitees harmless from and against any and all losses, costs, liens, claims, liabilities or damages (including, but not limited to, reasonable attorneys’ fees and disbursements) arising in connection therew...
Safe Deposit Boxes. On the Closing Date, the Seller shall cause the Manager to make available to the Purchaser at the Hotel all receipts and agreements in the Manager’s possession relating to all safe deposit boxes in use at the Hotel, other than safes or lockboxes, if any, located inside individual guest rooms in Hotel. During the Study Period, the Seller and the Purchaser shall mutually agree upon a procedure to provide notice to each Hotel guest utilizing a safe deposit box on the Closing Date about the sale of the Property and to cause each such Hotel guest to adhere to the procedure set forth in the notice so that a proper inventory can be prepared and an orderly transition made. From and after the Closing, the Seller and the Manager shall be relieved of any and all responsibility in connection with each said box, and the Purchaser shall indemnify, defend and hold the Seller and the Manager and harmless from and against any claim, liability, cost or expense (including reasonable attorneys’ fees) with respect to such safety deposit box arising after the Closing. The Seller hereby agrees to hold the Purchaser harmless from any other liability or claims with respect to such safe deposit boxes arising prior to the Closing Date. The provisions of this Section 7.7 shall survive the Closing.
Safe Deposit Boxes. As of the Close of Escrow, Buyer shall indemnify and hold harmless Seller against all Losses with respect to the contents of any safety deposit boxes in use at the Hotel. As of the Close of Escrow, Seller shall assign to Buyer all claims and causes of action against the Manager with respect to any Losses relating to said safety deposit boxes. Seller agrees to submit to Seller's insurance any claims for Losses which arose from acts or omissions prior to the Closing Date to the extent coverage is available under said insurance and provide Buyer with the proceeds therefrom provided Buyer is not in default under this SECTION 5.8. The provisions of this SECTION 5.8 shall survive the Closing.
Safe Deposit Boxes. On the Closing Date, Seller shall cause the Manager to make available to Purchaser at the Hotel all receipts and agreements in the Manager’s possession relating to all safe deposit boxes in use at the Hotel, other than safes or lockboxes, if any, located inside individual guest rooms in Hotel. During the Study Period, Seller and Purchaser shall mutually agree upon a procedure to provide notice to each Hotel guest utilizing a safe deposit box on the Closing Date about the sale of the Property and to cause each such Hotel guest to adhere to the procedure set forth in the notice so that a proper inventory can be prepared and an orderly transition made. From and after the Closing, Seller and the Manager shall be relieved of any and all responsibility in connection with each said box, and Purchaser shall indemnify, defend and hold Seller and the Manager and harmless from and against any claim, liability, cost or expense (including reasonable attorneys’ fees) with respect to such safety deposit box arising after the Closing. Seller hereby agrees to hold Purchaser harmless from any other liability or claims with respect to such safe deposit boxes arising prior to the Closing Date. The provisions of this Section 6.7 shall survive the Closing.
Safe Deposit Boxes. On the date which is two (2) Business Days prior to the Closing Date, Hersha Owner shall cause a notice to be sent to all the Hotel’s guests who have items in the Hotel’s safe/safety deposit boxes advising them of the pending sale of the Hotel and requesting their removal and verification of their property within such boxes on the day which is one (1) day prior to the Closing Date. As part of the Closing, the Parties shall jointly inventory the contents of the safety boxes, and on the Closing Date, Hersha Owner shall make available to Owner JV at the Hotel all receipts and agreements in Hersha Owner’s possession or control relating to all safe deposit boxes in use at the Hotel, other than safes or lockboxes, if any, located inside individual guest rooms in the Hotel. From and after the Closing, Hersha Owner shall be relieved of any and all responsibility in connection with each said box, and Owner JV shall indemnify and defend Hersha Owner and Hersha Lessee and any affiliate thereof and hold them harmless from and against any claim, liability, cost or expense (including reasonable attorneys’ fees) incurred by them, to the extent relating to items in such safety deposit boxes as of the Closing Date that were jointly inventoried as provided for in this Agreement. Hersha Owner shall indemnify, defend and hold harmless Owner JV and its affiliates from any other liability, claim, cost or expense (including reasonable attorneys’ fees) to the extent relating to any such safety deposit box arising or attributable to the period prior to the Closing Date.
Safe Deposit Boxes. The Credit Union offers safe deposit boxes for qualifying consumer and business members at select branch locations of the Credit Union, subject to availability. You will be required to accept the terms and conditions of a separate Safe Deposit Box Rental Agreement prior to being provided a safe deposit box. In the event of any conflict between the terms and conditions of this Agreement and the terms of the Safe Deposit Rental Agreement, the terms of the Safe Deposit Rental Agreement shall govern. Safe deposit boxes will not be offered to non- members of the Credit Union, or members that are not in good standing. Upon termination of your membership any safe deposit box rental that you may have with the Credit Union must also be closed. In the event of any closing or relocation of any Credit Union branch location with safe deposit boxes, the Credit Union is under no requirement to move said box or contents or to continue offering safe deposit box services. Upon the physical closure of any branch for any reason the Credit Union will make reasonable access to Safe Deposit Boxes available (through appointments when possible).
Safe Deposit Boxes. On the day prior to the Closing Date, Seller shall send written notice to guests in the Hotel who have safe deposit boxes advising them of the sale of the Hotel to Purchaser and the procedures to be followed pursuant to this Section 5.6.1. On the Closing Date, Seller shall deliver to Purchaser all keys to the safe deposit boxes in the Hotel, all receipts and agreements relating to such safe deposit boxes, and a complete list of the name and room number of each depositor. Each box in use by a Hotel guest shall then be sealed by representatives of Seller and Purchaser. At Purchaser’s option, guests may be requested to remove and verify the contents of the sealed boxes prior to the Close of Escrow. All such removals and verifications shall be under the supervision of a representative to be agreed upon between Purchaser and Seller. Purchaser shall be responsible for all boxes once the seal is broken, and for the contents of all boxes which are verified. Seller shall be responsible for any claims pertaining to any property allegedly deposited in a safe deposit prior to the Closing Date, the seal of which was not broken. Each of Seller and Purchaser shall indemnify and hold the other harmless from and against all claims and losses arising from such indemnifying party’s obligations under this Section 5.6.1.
Safe Deposit Boxes. Each of Seller and its Subsidiaries is in compliance, in all material respects, with the terms and conditions of the Safe Deposit Agreements.
Safe Deposit Boxes. The Safe Deposit Boxes do not hold contents subject to escheatment as of the Closing Date.
Safe Deposit Boxes. As soon as practicable after receipt of all required regulatory approvals, the Seller shall notify by letter renters of Safe Deposit Boxes located at the Branch of the disposition of their Safe Deposit Boxes as of the Closing Date. In the event of removal of such boxes to a new location, the Parties agree to cooperate in the safe and lawful transfer of such boxes. The costs and expenses incurred in the transfer and security of such boxes will be borne by Buyer. All key or other deposits related to the Safe Deposit Boxes which are held by Seller shall be transferred to Buyer as of the Closing Date as part of the Closing.