FF&E Reserve Amount definition

FF&E Reserve Amount has the meaning set forth in Section 17.3 hereof.
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FF&E Reserve Amount means, as applied to any Hotel with respect to any fiscal period of the Partnership, an amount equal to four percent (4%) of the aggregate gross revenue derived from such Hotel. Schedule 4 Ashford Hospitality Limited Partnership/Marriott Crystal City Gateway Agreement of Purchase and Sale
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FF&E Reserve Amount means, for any calendar month, an amount equal to the greater of (a) four percent (4.0%) of Actual Operating Revenue of the Hotel Unit for such calendar month or (b) the amount of the “Reserve Fund Contribution” (as defined in the Hotel Management Agreement) required to be deposited by Borrower into the Hotel Manager FF&E Reserve pursuant to the Hotel Management Agreement for such month.
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Examples of FF&E Reserve Amount in a sentence

  • Borrower shall cause Manager to reserve for FF&E on a monthly basis in accordance with the Management Agreement not less than an amount equal to the Monthly FF&E Reserve Amount, such reserves to be maintained in the Hotel Bank Accounts (as defined in the Management Agreement) (subject to disbursements therefrom as permitted by the Management Agreement), provided however, this Section 5.1.22 shall not affect Borrower’s obligations hereunder to set aside reserves for FF&E.

  • In the event that any Property is released pursuant to Section 2.2, Section 2.4 or Section 7.1(l) subsequent to a determination of the Monthly FF&E Reserve Amount, the Monthly FF&E Reserve Amount shall be appropriately adjusted in accordance with the definition thereof.

  • In addition to the foregoing, on each Payment Date from and after the Payment Date occurring in December, 2005, the Borrower shall deposit or monies shall be transferred in accordance with Section 9.4 hereof from the Deposit Account into the FF&E Reserve Account in an amount equal to the aggregate of (i) the Monthly FF&E Reserve Amount and (ii) any Monthly FF&E Reserve Amount (or portion thereof) from a prior Payment Date that was not deposited in the FF&E Reserve Account, if any.

  • Manager shall reserve for FF&E on a monthly basis in accordance with the terms of the Management Agreement not less than an amount equal to the Monthly FF&E Reserve Amount; such reserves are maintained in the Hotel Bank Accounts (as defined in the Management Agreement) (subject to disbursements therefrom as permitted by the Management Agreement).

  • Lender will, in accordance with Section 3.1.6 hereof, instruct the Cash Management Bank to transfer from the Holding Account the Monthly FF&E Reserve Amount to the FF&E Reserve Account.

  • In the event that any Mortgaged Property is released pursuant to Section 2.2 or Section 7.1(k) subsequent to a determination of the Monthly FF&E Reserve Amount, the Monthly FF&E Reserve Amount shall be appropriately adjusted in accordance with the definition thereof.

  • Provided no Event of Default has occurred and is continuing, Lender shall make disbursements (but no more frequently than one each calendar month and, other than any final disbursement, the total amount of any request shall not be less than $25,000) from the FF&E Reserve Account (but not in an amount more than the FF&E Reserve Amount on deposit from time to time) to reimburse Borrower or Manager or to provide funds to Borrower or Manager for the acquisition or replacement of FF&E.

  • If and to the extent Approved Property Manager fails to reserve such funds, then Borrower shall deposit into the FF&E Reserve Account the difference between the monthly reserves in respect of FF&E under the Approved Property Management Agreement and the Monthly FF&E Reserve Amount.

  • On a monthly basis, Borrowers or Operating Lessee shall, or shall cause Manager to, deposit into the “FF&E Reserve” under the Management Agreement (the “Manager FF&E Reserve”) the FF&E Reserve Amount.

  • On each Payment Date, Administrative Agent, at the direction of the Required Lenders given at least two Business Days prior to each such Payment Date, shall deposit into the FF&E Reserve Account from amounts on deposit in the Cash Management Account an amount equal to the Monthly FF&E Reserve Amount.


More Definitions of FF&E Reserve Amount

FF&E Reserve Amount means, for any calendar month, an amount equal to the following percentages of Gross Revenues for such calendar month:
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FF&E Reserve Amount means, for any calendar month, an amount equal to the greater of (a) four percent (4.0%) of Actual Operating Revenue of the Hotel Unit for such calendar month or (b) the amount of the “Reserve Fund Contribution” (as defined in the Hotel Management Agreement) required to
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