Reserve for Replacement of FF&E. The Reserve shall be funded pursuant to Section 7.2, and Manager shall use amounts in the Reserve to cover the cost of FF&E expenditures and Capital Improvements, as described in Section 4.4 in conjunction with the Approved Capital Budget. All FF&E, Capital Improvements and the Reserve shall be the property of Owner.
Appears in 5 contracts
Samples: Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Hotel Management Agreement (Procaccianti Hotel Reit, Inc.), Management Agreement (Procaccianti Hotel Reit, Inc.)
Reserve for Replacement of FF&E. The Reserve shall be funded pursuant to Section 7.2, and Manager shall use amounts in the Reserve to cover the cost of FF&E expenditures and Capital Improvements, as described in Section 4.4 in conjunction accordance with the Approved Capital Budget. All FF&E, Capital Improvements and the Reserve shall be the property of Owner.
Appears in 1 contract
Samples: Management Agreement
