Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget (the “CAPITAL BUDGET”) prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Lease Agreement (Gadsden Growth Properties, Inc.), Lease Agreement (Capital Lodging)
Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget for the Lease Year (the “CAPITAL BUDGETCapital Budget”) prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Capital Budget. Not later than forty-five sixty (4560) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget (the “"CAPITAL BUDGET”") prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Yearthis Section 4.
Appears in 2 contracts
Samples: Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Bristol Hotels & Resorts Inc)
Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget (the “"CAPITAL BUDGET”") prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Credit Agreement (Ashford Hospitality Trust Inc), Lease Agreement (Ashford Hospitality Trust Inc)
