Manager FF&E Reserve Account definition

Manager FF&E Reserve Account means the “Reserve Fund” as defined in the Management Agreement.
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Examples of Manager FF&E Reserve Account in a sentence

  • Manager is reserving for FF&E on a monthly basis not less than an amount equal to four percent (4%) of adjusted gross revenues with respect to the Property; such reserves are maintained in the Manager FF&E Reserve Account (subject to disbursements therefrom as permitted by the Management Agreement).

  • Manager is reserving for FF&E on a monthly basis not less than an amount equal to four percent (4%) of adjusted gross revenues with respect to the Property; such reserves are maintained in accordance with the terms of the Management Agreement and the requirements of Section 5.1.23, either in (i) the Manager FF&E Reserve Account or (ii) the Manager FF&E Alternative Reserve Account (each subject to disbursements therefrom as permitted by the Management Agreement).

  • 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 four percent (4%) of adjusted gross revenues with respect to the Property, such reserves to be maintained in the Manager FF&E Reserve Account.

  • Borrower shall cause Manager to reserve for FF&E on a monthly basis in accordance with the Management Agreement, such reserves to be maintained in the Manager FF&E Reserve Account.

  • The parties acknowledge and agree that Owner will retain title to and ownership of all amounts on deposit in the Manager FF&E Reserve Account or Manager FF&E Alternative Reserve Account Manager nor Owner’s Agent will acquire title to, legal or beneficial ownership of, any property interest in such amounts (except, with respect to the Manager, such rights as are provided for in the Management Agreement) (“Account Funds”).

  • Manager is reserving for FF&E on a monthly basis in accordance with the terms of the Management Agreement not less than an amount equal to four percent (4%) of gross revenues with respect to the Property; such reserves are maintained in the Manager FF&E Reserve Account (subject to disbursements therefrom as permitted by the Management Agreement).

  • In addition, except for the amounts funded from the Hyatt Herald Square Manager FF&E Reserve Account pursuant to the immediately preceding sentence, all amounts needed to complete the work under the Capital Plan shall be funded from Borrower’s equity.