Parties have no control over an Act of God, thus they’re not legally bound to fulfill contract responsibilities.Īctivities: An entertainment organizer in a hotel, resort, or cruise ship.Īdjusted Gross Operating Profit (AGOP): A measure of gross operating profit used to determine how much of your income is minus the hotel management base fee.Īdvance Order: Order placed prior the move-in date for an exhibition.Īdvance Rates: Discounted rates to entice guests to book in advance.Īffinity Group: A group formed around a common interest where members are usually of the same organization.Īgenda: The items or unfoldings that comprise the “to-do list” or schedule of an event.Īgent: Someone who acts on behalf of another and has been bestowed the power to act. Your complete hotel terms dictionary: AĪbove the Line: Commission received from advertising like T.V., radio, posters, and press.Īcceleration Clause: Contract provision that accelerates deposit payment or increases prepayment in case of default or lack of credit.Īccommodation: 1) Service or space provided to a guest 2) Action taken to enable event participation for the disabledĪct of God: Natural disaster that could not have been predicted at the time of the contract signing. Submitted by professionals in the hotel and planner side of hospitality, these were the most common hotel terms, acronyms, and abbreviations that professionals need to know. In order to successfully conduct business with others outside of your realm of the industry, a mutual understanding of vocabulary is essential - whether you’re an expert event planner or a hotel sales manager, and every role in between. However, each sector has its own “lingo” that isn’t familiar to all those in the hospitality industry. These teams work together to generate business ending in a boost of revenue and sales –and to put on stunning events. More Definitions of Financial Accommodationįinancial Accommodation has the meaning given to that term in the Securities and Futures Ordinance “F.O.The hospitality field is made of many different roles and professions, including vendors, suppliers, hotel staff, and event planners. The representations made and warranties given by you under this clause or otherwise under this Agreement, unless otherwise stated, are deemed to be repeated with reference to the facts and circumstances then existing when you request, and when you are given, any Financial Accommodation under a Facility, and on the last day of each Interest Period.Īt balance date, in accordance with the Local Government Funding Authority Multi-Issuer Deed, the Available Financial Accommodation will be more than 110% of External Indebtedness. Permitted Financial Accommodation means financial accommodation: (a) to any Group Company (b) to allow its customers to acquire goods and services on extended terms in the ordinary course of business (c) deposits made in ordinary course of business arrangements with a bank or financial institution or (d) to which the Noteholders have given their prior written consent by way of Ordinary Resolution. The Loan Documents are a contract to extend a Financial Accommodation (as such term is used in the Bankruptcy Code) for Borrower’s benefit.įor those employees, the limit on remuneration is five times the maximum Canada Pension Plan pensionable earnings (this would amount to a limit of approximately $250,000 in 2012), and remuneration excludes any bonuses or amounts based on profits.
Examples of Financial Accommodation in a sentence
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