Common use of Capital Reserve Account Clause in Contracts

Capital Reserve Account. (a) Crow has reserved for capital expenditures at the Hotel (the "Capital Reserve Account") the initial amount of $-0-. Crow shall not be obligated to fund such initial amount, if any, of the Capital Reserve Account as of the Effective Date, but shall be required to fund such initial amount, if any, at or prior to the Closing, and, in connection therewith, Crow may satisfy its obligations by, and to the extent of, Crow's expenditure, pursuant to the following provisions of this Section 6.6, of funds required to be included in ----------- the Capital Reserve Account as such initial amount, if any. (b) In addition to the foregoing, during the period from the Effective Date to the Closing Date, Crow shall: (i) fund the Capital Reserve Account in the amount of four percent (4%), on a monthly basis, of gross revenues of the Property (as defined in the Management Agreement), which monies shall become and be a part of the Capital Reserve Account, and (ii) expend the Capital Reserve Account pursuant to a schedule reflecting sound hotel management practices and in accordance with the 1997 capital expenditures budget adopted pursuant to the Management Agreement and previously provided to Patriot (the "Capital Expense

Capital Reserve Account. (a) Crow has reserved for capital expenditures at the Hotel (the "Capital Reserve Account") the initial amount of $-0-3,656,000.00. Crow shall not be obligated to fund such initial amount, if any, of the Capital Reserve Account as of the Effective Date, but shall be required to fund such initial amount, if any, at or prior to the Closing, and, in connection therewith, Crow may satisfy its obligations by, and to the extent of, Crow's expenditure, pursuant to the following provisions of this Section 6.6, of funds required to be included in ----------- the Capital Reserve Account as such initial amount, if any. (b) In addition to the foregoing, during the period from the Effective Date to the Closing Date, Crow shall: (i) fund the Capital Reserve Account in the amount of four percent (4%), on a monthly basis, of gross revenues of the Property (as defined in the Management Agreement), which monies shall become and be a part of the Capital Reserve Account, and (ii) expend the Capital Reserve Account pursuant to a schedule reflecting sound hotel management practices and in accordance with the 1997 capital expenditures budget adopted pursuant to the Management Agreement and previously provided to Patriot (the "Capital Expense

Capital Reserve Account. (a) Crow has reserved for capital expenditures at the Hotel (the "Capital Reserve Account") the initial amount of $-0-. ________________.* Crow shall not be obligated to fund such initial amount, if any, of the Capital Reserve Account as of the Effective Date, but shall be required to fund such initial amount, if any, at or prior to the Closing, and, in connection therewith, Crow may satisfy its obligations by, and to the extent of, Crow's expenditure, pursuant to the following provisions of this Section 6.6, of funds ----------- required to be included in ----------- the Capital Reserve Account as such initial amount, if any. (b) In addition to the foregoing, during the period from the Effective Date to the Closing Date, Crow shall: (i) fund the Capital Reserve Account in the amount of four percent (4%), ,** on a monthly basis, of gross revenues of the Property (as defined in the Management Agreement), which monies shall become and be a part of the Capital Reserve Account, and (ii) expend the Capital Reserve Account pursuant to a schedule reflecting sound hotel management practices and in accordance with the 1997 capital expenditures budget adopted pursuant to the Management Agreement and previously provided to Patriot (the "Capital Expense

Capital Reserve Account. (a) Crow has reserved for capital expenditures at the Hotel (the "Capital Reserve Account") the initial amount of $-0-. Crow shall not be obligated to fund such initial amount, if any, of the Capital Reserve Account as of the Effective Date, but shall be required to fund such initial amount, if any, at or prior to the Closing, and, in connection therewith, Crow may satisfy its obligations by, and to the extent of, Crow's expenditure, pursuant to the following provisions of this Section 6.6, of funds required to be included in ----------- the Capital Reserve Account as such initial amount, if any. (b) In addition to the foregoing, during the period from the Effective Date to the Closing Date, Crow shall: (i) fund the Capital Reserve Account in the amount of four three percent (43%), on a monthly basis, of gross revenues of the Property (as defined in the Management Agreement), which monies shall become and be a part of the Capital Reserve Account, and (ii) expend the Capital Reserve Account pursuant to a schedule reflecting sound hotel management practices and in accordance with the 1997 capital expenditures budget adopted pursuant to the Management Agreement and previously provided to Patriot (the "Capital Expense