Transfers to Reserve for FF&E. Commencing on the Commencement Date and continuing thereafter during the remainder of the Term, Manager shall deposit monthly into the Reserve for FF&E an amount equal to the amounts required by Lender and/or by Licensor; provided that in no event will the amounts to be deposited monthly into the Reserve be less than an amount equal to such amounts required by the Owner’s lender or the Franchisor.
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.)
Transfers to Reserve for FF&E. Commencing on the Commencement Date and continuing thereafter during the remainder of the Term, Manager shall deposit monthly into the Reserve for FF&E an amount equal to the amounts required by Lender and/or or as determined by Licensor; provided that in no event will the amounts to be deposited monthly into the Reserve be less than an amount equal to such amounts required by the Owner’s lender or the Franchisor.
Appears in 1 contract
Samples: Management Agreement
