FF&E Expenses definition

FF&E Expenses means the costs of FF&E actually incurred by Borrower or Operating Lessee in accordance with the terms of the Management Agreement.
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FF&E Expenses means expenses that are for fixtures, furnishings, equipment, furniture, and other items of tangible personal property now or hereafter located in or on the Property or the Improvements or used in connection with the use, occupancy, operation and maintenance of all or any part of the hotel located on the Property, other than stocks of food and other supplies held for consumption in normal operation but including, without limitation, appliances, machinery, equipment, signs, artwork, office furnishings and equipment, guest room furnishings, and specialized equipment for kitchens, laundries, bars, restaurant, public rooms, health and recreational facilities, linens, dishware, all partitions, screens, awnings, shades, blinds, floor coverings, hall and lobby equipment, heating, lighting, plumbing, ventilating, refrigerating, incinerating, elevators, escalators, air conditioning and communication plants or systems with appurtenant fixtures, vacuum cleaning systems, call or beeper systems, security systems, sprinkler systems and other fire prevention and extinguishing apparatus and materials; reservation system computer and related equipment; all equipment, manual, mechanical or motorized, for the construction, maintenance, repair and cleaning of, parking areas, walks, underground ways, truck ways, driveways, common areas, roadways, highways and streets; and the Vehicles (as defined in the Uniform System of Accounts).
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FF&E Expenses means the costs incurred in connection with Capital Expenditures and the repair and replacement of furniture, fixtures and Equipment and other personal property (other than goods held for consumption).
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Examples of FF&E Expenses in a sentence

  • On or before February 1 in the years 2000, 2001 and 2002, Borrower shall deliver to Lender an Officer’s Certificate setting forth the amount of FF&E Expenses for the prior calendar year.

  • Borrower shall deposit additional FF&E Funds in the amount by which the sum of such FF&E Expenses and the deposits of General Repair Funds and FF&E Funds made during such period is less than (i) Thirty Million and No/100 Dollars ($30,000,000) with respect to 1999, (ii) Fifteen Million and No/100 Dollars ($15,000,000) with respect to 2000, and (iii) Twenty Million and No/100 Dollars ($20,000,000) with respect to 2001.

  • Lender shall disburse FF&E Funds only for the payment of FF&E Expenses.

  • If the funds in the Capital Expense and FF&E Reserve Subaccount shall exceed the amounts due for Approved Capital and FF&E Expenses pursuant to the terms 16 26 hereof, Lender may return (or if no Default or Event of Default exists, shall return) any excess to the applicable Borrower or, if future payments hereunder are then required, credit such excess against such future payments.

  • 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).

  • Within ten (10) business days following submission in writing of a request therefor by Borrower, Lender shall provide to Borrower from the FF&E Reserve Account (to the extent of funds available therein) funds sufficient to pay FF&E Expenses, provided that such request is accompanied by invoices evidencing such FF&E Expenses sufficient to permit Lender to determine that such funds are being disbursed to pay FF&E Expenses and a certification by Borrower that such funds will be used to pay FF&E Expenses.

  • With respect to FF&E costs and expenses of the Inn that are required to paid from the Reserve pursuant to Article 5.02 of the Management Agreement ("FF&E Expenses") and costs and expenses for major repairs, renovations, alternations, and improvements to the Inn required to be funded solely by Lessee pursuant to Article 5.03 of the Management Agreement ("CapEx Expenses"), Management Company shall pay such FF&E Expenses and CapEx Expenses from the Reserve.

  • Any such disbursement of more than $10,000 to pay (rather than reimburse) Approved Capital and FF&E Expenses may, at Lender's option, be made by joint check payable to Borrowers and the payee on such Approved Capital and FF&E 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 FF&E Expenses

FF&E Expenses. – means the costs of FF&E actually incurred by Borrower, Operating Lessee or Manager in accordance with the Annual Budget, provided that Manager may incur expenses in accordance with the Management Agreement.
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FF&E Expenses the cost of repair and/or replacement of the FF&E.
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Related to FF&E Expenses

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Common Expenses means expenditures made by or financial liabilities of the association, together with any allocations to reserves.

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • Current Expenses means operating costs other than personal services and shall not