Uniform System of Accounts for Hotels definition

Uniform System of Accounts for Hotels means the accounting standards printed in the then most recently revised edition of A Uniform System of Accounts for Hotels, as adopted by the Hotel Association of New York City, Inc. and the American Hotel and Motel Association, as amended or changed from time to time by the Hotel Association of New York City, Inc. and the American Hotel and Motel Association (or other appropriate board or committee of both Associations), except that any accounting principle or practice required or permitted to be changed by the Hotel Association of New York City, Inc. and the American Hotel and Motel Association (or other appropriate board or committee of both Associations) in order to continue as an accounting standard or practice may be so changed only so long as such required or permitted change will not have the effect of permitting Borrower’s and Guarantor’s compliance with any financial covenants or performance tests contained in this Agreement when without such change, such parties would not so comply.
Sample 1Sample 2Sample 3
Uniform System of Accounts for Hotels means the Uniform System of Accounts For Hotels (9th Revised Edition 1996), as published by the Hotel Association of New York City, Inc.
Sample 1Sample 2
Uniform System of Accounts for Hotels means the Eleventh Revised Edition of that publication and is referred to in Section 5.05. ​
Sample 1Sample 2

Examples of Uniform System of Accounts for Hotels in a sentence

  • Anything in this Section 7 or otherwise in this Agreement to the contrary notwithstanding, however, nothing herein shall constitute a waiver or limitation of any rights that the Company may have under any federal or state securities laws.

  • You will maintain accounting books and records in accordance with generally accepted accounting principles and the American Hotel & Motel Association Uniform System of Accounts for Hotels, as amended, subject to this Agreement and other reasonable accounting standards we may specify from time to time.

  • Manager shall keep the books and records for the Hotel in all material respects in accordance with the Uniform System of Accounts for Hotels, on an accrual basis in accordance with generally accepted accounting principles consistently applied.

  • All property level (but not upper-tier or consolidated) monthly and other operating statements to be delivered by or on behalf of Borrower hereunder shall be (and all accompanying Officer’s Certificates shall state that they have been) prepared based upon the Uniform System of Accounts for Hotels, current edition.

  • The Uniform System of Accounts for Hotels (9th Revised Edition, 1996) as published by the American Hotel and Lodging Association, with such later revisions as may be agreed to by both Lessor and Lessee.

  • Borrower will furnish to Lender annually, within 90 days after each calendar year, a complete copy of Borrower’s annual audited financial statements prepared by a “big four” accounting firm or a regional accounting firm reasonably acceptable to Lender, each in accordance with GAAP and the Uniform System of Accounts for Hotels and containing balance sheets and statements of profit and loss for Borrower and the Property in such detail as Lender may reasonably request.

  • All property level (but not upper-tier or consolidated) monthly and other operating statements to be delivered by or on behalf of Borrower or Leasehold Pledgor hereunder shall be (and all accompanying Officer’s Certificates shall state that they have been) prepared based upon the Uniform System of Accounts for Hotels, current edition.

  • All property level (but not upper-tier or consolidated) monthly and other operating statements to be delivered by or on behalf of Borrower or Operating Lessee hereunder shall be (and all accompanying Officer’s Certificates shall state that they have been) prepared based upon the Uniform System of Accounts for Hotels, current edition.

  • For the purpose of determining the Management Fee, the term “Gross Revenue” shall be as determined by the Uniform System of Accounts for Hotels as published by the American Hotel and Lodging Association, as it may be in effect from time to time.

  • All budgeting, planning and accounting records and reports prepared by Manager will be based upon generally accepted accounting principles consistently applied and the Uniform System of Accounts for Hotels, copyrighted by the Hotel Association for New York City, 8th edition of 1986, as amended from time to time (the "Uniform System of Account for Hotels") and shall, to the extent practical, be coordinated with the Partnership's books and records.


More Definitions of Uniform System of Accounts for Hotels

Uniform System of Accounts for Hotels means the Ninth Revised Edition of that publication and is referred to in Section 5.05.
Sample 1Sample 2
Uniform System of Accounts for Hotels means the Uniform System of Accounts for Lodging Industry (Ninth Revised Edition, 1996); such term shall not be deemed to include any subsequent revisions of the Uniform System of Accounts for Hotels.
Sample 1

Related to Uniform System of Accounts for Hotels

  • Uniform System of Accounts means the most recent edition of the Uniform System of Accounts for Hotels as adopted by the American Hotel and Motel Association.

  • Uniform System means the Uniform System of Accounts for the Lodging Industry, Tenth Revised Edition 2006, as published by the Education Institute of the American Hotel & Motel Association, as revised from time to time to the extent such revision has been or is in the process of being generally implemented within such Uniform System of Accounts.

  • Operation of a System of Records means performance of any of the activities associated with maintaining the SOR, including the collection, use, maintenance, and dissemination of records.

  • System of records means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual.

  • System of records on individuals, as used in this clause, means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual.

  • System Operations means the Power Producer's operation; maintenance and repair of the System performed in accordance the requirement herein.

  • System Operator means the person who is the system operator under the Act;

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Electronic and Information Resources Accessibility Standards means the accessibility standards for electronic and information resources contained in 1 Texas Administrative Code Chapter 213.

  • Reliability Standards means the criteria, standards, rules and requirements relating to reliability established by a Standards Authority.

  • Uniform Standards of Professional Appraisal Practice means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

  • Auditing Profession Act ’ means the Auditing Profession Act, 2005 (Act No. 26 of 2005);

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Independent System Operator means a person that may receive or has received, by transfer pursuant

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Prudent Electrical Practices means those practices, methods and acts that would be implemented and followed by prudent operators of electric energy generating facilities in the Western United States, similar to the Facility, during the relevant time period, which practices, methods and acts, in the exercise of prudent and responsible professional judgment in the light of the facts known at the time the decision was made, could reasonably have been expected to accomplish the desired result consistent with good business practices, reliability and safety. Prudent Electrical Practices shall include, at a minimum, those professionally responsible practices, methods and acts described in the preceding sentence that comply with manufacturers’ warranties, restrictions in this Agreement, and the requirements of Governmental Authorities, WECC standards, the CAISO and Laws. Prudent Electrical Practices also includes taking reasonable steps to ensure that: