Annual Budget; Operating Agreement Annual Budgets. (a) Mezzanine Borrower shall cause Mortgage Borrower, or shall cause Mortgage Borrower to cause Master Lessee to deliver to Mezzanine Lender the Annual Budget for Mezzanine Lender’s review, but not approval, prior to the expiration of each Fiscal Year. Any proposed modifications to such Annual Budget shall be delivered to Mezzanine Lender for its review, but not approval. Notwithstanding the foregoing, while an 80% Trigger Approval Period shall exist, Mezzanine Lender shall have the right to approve all aspects of the Annual Budget relating to expenditures for FF&E, which approval shall not be unreasonably withheld, delayed or conditioned.
Appears in 7 contracts
Samples: Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc)
