Examples of PIP Plans in a sentence
Amounts deposited from time to time in the PIP Reserve Account pursuant to this Section 6.6.1 are referred to herein as the “PIP Reserve Funds” and shall be disbursed to fund PIP Alterations at the Properties from time to time in accordance with the PIP Plans and the terms and provisions of Section 6.6.2 hereof.
Borrower agrees that if any Franchisor requires any PIPs in connection with new franchise agreements or amendments to existing Franchise Agreements contemplated in Section 4.3(c) hereof, Borrower shall deliver such PIPs, the related PIP Budgets, and any modifications to the PIP Plans or PIP Budgets (if applicable) to Lender for its reasonable approval in accordance with the requirements of the Loan Documents.
After all of the PIP Alterations have been completed in accordance with the PIP Plans and Borrowers shall have provided evidence reasonably satisfactory to Lender that the applicable Franchisors have accepted the PIP Alterations as complete, any PIP Reserve Funds remaining on deposit in the PIP Reserve Account shall be deposited into the FF&E Account for application in accordance the terms of Section 6.5 hereof.
In 2004, the Westfield Group introduced two new equity linked incentive plans – the EDA and the PIP Plans.
The timelines for completion of the PIP Plans and the PIP Completion Date, each shown on Exhibit P-3, attached hereto and made a part hereof, is an accurate indication of the expected timeline and deadline for completing the applicable PIP Plan as currently required by the applicable Franchisor.
The timelines for completion of the PIP Plans and the PIP Completion Date, each shown on Exhibit P-3, attached hereto and made a part hereof, is an accurate indication of the timeline and deadline for completing the applicable PIP Plan as currently required by the applicable Franchisor.
Pandemic preparedness plans Pandemic preparedness plans such as Pandemic Influenza Preparedness (PIP) Plans and National Action Plans for Health Security will likely be reviewed.
Lender hereby approves the PIP Budgets related to the PIP Plans for following Properties, which form a part of Schedule P-2 attached hereto and are expected to commence within sixty (60) days of the date hereof: (i) Courtyard Dalton, Georgia, (ii) Courtyard Houston, Texas, (iii) Homewood Suites Augusta, Georgia, (iv) Homewood Suites Orlando, Florida, and (v) Residence Inn Jacksonville, Florida (collectively, the “Closing-Approved PIP Budgets”).
Each of the copies of the PIP Plans attached as Exhibit P-1 and PIP Budgets attached as Exhibit P-2 are true, correct and complete as of the date hereof.
Borrower’s estimate of the PIP Budget, as well as the anticipated PIP start dates and the PIP Completion Dates for the PIP Plans is attached as Schedule 2.5(g)-2 hereto.