FF&E Reserve definition

FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

FF&E Reserve shall have the meaning set forth in Section 2.7.

Examples of FF&E Reserve in a sentence

• In addition, notwithstanding anything to the contrary contained herein, for purposes of determining the amount of any required FF&E Reserve Fund deposits (and for purposes of calculating such amount, monthly, based on the formula set forth in the first sentence of this Section 7.3.1), Revenues shall include Revenue from the Hotel Component and the Casino Component but shall not include non-Hotel or Casino related Revenues (e.g., Rents from retail tenants).

• Notwithstanding anything to the contrary contained herein, in no event shall Borrower be required to maintain in the FF&E Reserve Account an amount in excess of the aggregate amount of all FF&E deposits required to be made in the preceding calendar year (as determined, for purposes of this sentence, utilizing the monthly formula set forth in the preceding sentence).

• Funds deposited into the FF&E Reserve shall be disbursed in accordance with the Approved Capital Budget.

• Each month during the Term, Management Company shall transfer into the FF&E Reserve an amount equal to one twelfth (1/12) of the FF&E Reserve Payment.

• Transfers into the FF&E Reserve shall be made on or before the fifteenth (15th) day of each month.

More Definitions of FF&E Reserve

FF&E Reserve means, with respect to any Asset or Assets for any trailing 12 month period, an amount equal to 4% of the total revenues generated from the operation of such Asset or Assets for such period.

FF&E Reserve means, for any period and with respect to a given Property or Hotel Pool, an amount equal to the amount that the Operating Agreement or any Ancillary Agreement for such Property or Hotel Pool requires the Operator to reserve during such period for (i) replacements and renewals to such Property’s or Hotel Pool’s furnishings, fixtures and equipment, (ii) routine repairs and maintenance to buildings which are normally capitalized under GAAP and (iii) major repairs, alterations, improvements, renewals or replacements to building structures, roofs or exterior façade, or for mechanical, electrical, HVAC, plumbing or vertical transportation systems.

FF&E Reserve means the reserve established pursuant to Section 6.4.

FF&E Reserve. As defined in Section 9.5(a).

FF&E Reserve means, for any Real Estate for any period, an amount equal to four percent (4%) of Gross Revenues from such Real Estate for such period.

FF&E Reserve. An amount equal to five percent (5%) of Gross Revenues for each Accounting Period.

FF&E Reserve shall have the meaning set forth in Section 8.02 A. ------------