Owner’s Source of Funds for Capital Expenses Sample Clauses

Owner’s Source of Funds for Capital Expenses. Notwithstanding any provision to the contrary contained in this Agreement, until the Bonds are no longer Outstanding, (i) Owner’s obligations to provide funds for Capital Expenses shall be limited to funds in the Senior FF&E Reserve Fund, the Subordinate FF&E Reserve Fund, the Operating Expense Reserve Fund, and the Surplus Revenue Fund and (ii) the availability of funds for Capital Expenses or any other expenses shall be limited to the extent provided in the Indenture. In any event, Manager shall exercise commercially reasonable efforts consistent with the Operating Standard to schedule and budget for Capital Expenses in a fashion that permits funding solely from the Senior FF&E Reserve Fund (to the extent available under the Indenture) and the Subordinate FF&E Reserve Fund. After the Bonds are no longer Outstanding, Owner’s obligations to provide funds for Capital Expenses shall continue to be limited to funds in the Senior FF&E Reserve Fund, the Subordinate FF&E Reserve Fund, the Operating Expense Reserve Fund and the Surplus Revenue Fund, to the extent that such funds continue to be used by Owner.
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