Balance in the FF&E Reserve Account. (a) The insufficiency of any balance in the FF&E Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.
Appears in 27 contracts
Samples: Second Mezzanine Loan Agreement (Harrahs Entertainment Inc), Mezzanine Loan Agreement (Harrahs Entertainment Inc), Mezzanine Loan Agreement (Harrahs Entertainment Inc)
Balance in the FF&E Reserve Account. (a) The insufficiency of any balance in the FF&E Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.
Appears in 8 contracts
Samples: Loan Agreement (Procaccianti Hotel Reit, Inc.), Loan Agreement (Procaccianti Hotel Reit, Inc.), Loan Agreement (Lightstone Value Plus Real Estate Investment Trust V, Inc.)
Balance in the FF&E Reserve Account. (a) The insufficiency of any balance in the FF&E Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents. Upon the termination of a Cash Management Period, provided no Event of Default shall have occurred and be continuing and the requirements set forth in subsections 7.4.1(i) and (ii) are satisfied, any amounts remaining in the FF&E Reserve Fund shall be returned to Borrower.
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Balance in the FF&E Reserve Account. (a) The insufficiency of any balance in the FF&E Reserve Account shall not relieve Borrower and the Owner Parties from its obligation their obligations to fulfill all preservation and maintenance covenants in the Loan DocumentsDocuments with respect to preservation and maintenance.
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