Pooled Reserves. It is understood and agreed that so long as the PR Property is a Pooled FF&E Hotel, funds deposited in the Reserve Account pursuant to this Agreement and the FF&E Reserve under PR Lease shall be maintained and used on a consolidated basis such that all amounts to be deposited in the Reserve Account and the FF&E Reserve shall be deposited in a single account and Manager and PR Tenant may apply any funds therein to any of the Pooled FF&E Hotels in accordance with the terms of this Agreement and PR Lease.
Appears in 4 contracts
Samples: Management Agreement (Hospitality Properties Trust), Management Agreement (Hospitality Properties Trust), Purchase and Sale Agreement (Hospitality Properties Trust)
Pooled Reserves. It is understood and agreed that that, subject to Section 5.2(h), so long as the PR Property is a Pooled FF&E Hotel, funds deposited in the Reserve Account pursuant to this Agreement and the FF&E Reserve under PR Lease shall be maintained and used on a consolidated basis such that all amounts to be deposited in the Reserve Account and the FF&E Reserve shall be deposited in a single account and Manager and PR Tenant may apply any funds therein to any of the Pooled FF&E Hotels in accordance with the terms of this Agreement and PR Lease.
Appears in 1 contract
Samples: Management Agreement (Hospitality Properties Trust)
