Additional Marriott Advances definition

Additional Marriott Advances means Additional Marriott Advances under the Pooling Agreement, and if the Pooling Agreement does not apply to any Hotel, then the portion of such Additional Marriott Advances determined to be allocable to such Hotel in accordance with the Pooling Agreement.
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Additional Marriott Advances means all advances made by Marriott pursuant to Sections 3.03, 4.03 (to the extent described therein as deemed Additional Marriott Advances) and 5.01.B of this Agreement, together with simple interest at the rate of nine percent (9%) per annum on the outstanding balance thereof from time to time.
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Examples of Additional Marriott Advances in a sentence

  • Upon expiration of the entire term of each Management Agreement and expiration of the entire term of the Lease (in each instance including with respect to any exercised renewals), and provided that such expiration did not result from a default by Tenant under any Management Agreement, Tenant shall have no further liability for repayment of Additional Marriott Advances made pursuant to this Agreement.

  • Tenant Aggregate Operating Loss Advances shall be repaid in accordance with Section 2.02.A(2) hereof, and Additional Marriott Advances shall be repaid in accordance with Section 2.02.A(2) hereof.

  • If a Marriott Guaranty Termination Event has occurred, then Marriott and/or its Affiliates may, without any obligation and in its or their sole and absolute discretion, fund up to the Post-Guaranty Termination Threshold, and any such amounts funded by Marriott and/or its Affiliates following such Marriott Guaranty Termination Event shall be deemed Additional Marriott Advances and/or Additional Manager Advances (as applicable).

  • Any Tenant Aggregate Operating Loss Advances and/or Additional Marriott Advances and/or Additional Manager Advances shall be repaid in accordance with Section 2.02.A(4) hereof.

  • Upon expiration of the entire Term of this Agreement and expiration of the Lease in accordance with their respective terms (and not as a result of a Default or Event of Default), Tenant shall have no further liability for repayment of Additional Manager Advances, Additional Marriott Advances, and any other advances made by Marriott or Manager pursuant to this Agreement or the Pooling Agreement.

  • Upon expiration of the entire term of each Management Agreement, and following the completion of the final accounting provided for in Section 11.11.A of each Management Agreement and the distributions provided for therein, and provided that such expiration did not result from a default by any Tenant under any Management Agreement, Tenants shall have no further liability for repayment of Additional Marriott Advances made pursuant to this Agreement.

Related to Additional Marriott Advances

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Equipment Advance is defined in Section 2.1.1.

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Loan Advance The meaning specified in Section 2.2(a).

  • Tranche C Term Loan as defined in Section 2.1.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • Tranche B Term Loan as defined in Section 2.1.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Tranche B Advance has the meaning specified in Section 2.01(b).