44 FF&E. Manager is reserving for FF&E on a monthly basis not less than an amount equal to four percent (4%) of adjusted gross revenues with respect to the Property; such reserves are maintained in the Manager FF&E Reserve Account (subject to disbursements therefrom as permitted by the Management Agreement).
Appears in 4 contracts
Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc)
44 FF&E. Manager is reserving for FF&E on a monthly basis not less than an amount equal to four percent (4%) of adjusted gross revenues with respect to the Property; such reserves are maintained in accordance with the terms of the Management Agreement and the requirements of Section 5.1.23, either in (i) the Manager FF&E Reserve Account or (ii) the Manager FF&E Alternative Reserve Account (each subject to disbursements therefrom as permitted by the Management Agreement).
Appears in 4 contracts
Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc)
44 FF&E. Manager is reserving for FF&E on a monthly basis in accordance with the terms of the Management Agreement not less than an amount equal to four percent (4%) of adjusted gross revenues with respect to the Property; such reserves are maintained in the Manager FF&E Reserve Account (subject to disbursements therefrom as permitted by the Management Agreement).
Appears in 2 contracts
Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc)