Approved FF&E Expenses definition

Approved FF&E Expenses means FF&E Expenses incurred by Owner and either (a) included in the Approved Annual Budget or (b) approved by Lender and Mortgage Lender, which approval shall not be unreasonably withheld, conditioned or delayed; provided that any FF&E Expenses included in Approved Scheduled PIP Expenses shall not constitute Approved FF&E Expenses.
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Approved FF&E Expenses means (i) Approved Capital Expenditures and (ii) FF&E Expenses incurred by Borrower or Master Tenant, which (a) are included in the Approved Annual Budget for the current calendar month or (b) approved by Lender, which approval shall not be unreasonably withheld or delayed.
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Approved FF&E Expenses means (i) FF&E Expenses incurred by Owner and either (a) included in the Approved Annual Budget or (b) approved by Lender and Mortgage Lender, which approval shall not be unreasonably withheld, conditioned or delayed and (ii) New/Renewal Flagging Costs for which PIP Dedicated FF&E Reserve Funds have been dedicated in accordance with Section 4.34(e)(ii) of the Mortgage Loan Agreement; provided that any FF&E Expenses included in Approved Scheduled PIP Expenses shall not constitute Approved FF&E Expenses.
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Examples of Approved FF&E Expenses in a sentence

  • Each draw request for Approved FF&E Expenses shall be accompanied by (y) invoices, receipts or other evidence reasonably satisfactory to Administrative Agent verifying the costs for which FF&E Reserve Funds are being requested and (z) if required by Administrative Agent, affidavits, lien waivers and/or releases from all parties who furnished materials and/or services in connection with the requested payment.

  • Borrower and Operating Tenant shall at all times maintain, preserve and protect all franchises and trade names, and Borrower and Operating Tenant shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for Approved FF&E Expenses, Approved Capital Expenses and alterations performed in accordance with Section 5.4.2 and normal replacement of Equipment with Equipment of equivalent value and functionality).

  • Approved FF&E Expenses shall not be duplicative of Approved Capital Expenses.

  • During a Cash Trap Period, any such disbursement of more than $10,000 to pay (rather than reimburse) Approved FF&E Expenses or Approved Capital Expenses (other than Identified Capital Expenses) may, at Lender’s option, be made by joint check payable to Borrower and the payee on such Approved FF&E Expenses or Approved Capital Expenses.

  • Subject to the terms of this Schedule 2 and Section 2.3(c), so long as no uncured Event of Default exists, Administrative Agent shall make disbursements from the FF&E Reserve Account for Approved FF&E Expenses that are actually due and payable, to the extent funds are available in the FF&E Reserve Account.


More Definitions of Approved FF&E Expenses

Approved FF&E Expenses means amounts expended by Borrower or Operating Lessee for FF&E and either
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