Recurring Replacement Expenditures definition

Recurring Replacement Expenditures means expenditures related to capital repairs, replacements and improvements performed at the Property from time to time.

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Recurring Replacement Expenditures means Capital Expenditures for furniture, Fixtures and Equipment to be located at the Property from time to time, as determined in accordance with GAAP, which are set forth in the Approved Annual Budget.

Recurring Replacement Expenditures means expenditures related to the replacement of furniture, fixtures and equipment located at, or used in connection with, the operation of the Trust Property from time to time.

Examples of Recurring Replacement Expenditures in a sentence

Borrower hereby agrees to pay all Recurring Replacement Expenditures with respect to the Property (without regard to the amount of money then available in the Recurring Replacement Reserve Sub-Account or the Recurring Replacement Reserve Escrow Account).
Provided that no Event of Default shall have occurred, all funds deposited into the Recurring Replacement Reserve Escrow Account shall be held by Lender pursuant to the provisions of this Security Instrument and shall be applied in payment of Recurring Replacement Expenditures.
Provided that no Event of Default shall have occurred and be continuing, all funds deposited into the Recurring Replacement Reserve Escrow Account shall be held by Lender pursuant to the provisions of this Security Instrument and shall be applied in payment of Recurring Replacement Expenditures.
Upon the occurrence of an Event of Default, Lender may draw on the Delivered Letter of Credit and apply the sums received towards the payment of Recurring Replacement Expenditures or towards payment of the Debt or any other charges affecting all or any portion of the Property, as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided.
Provided that no Event of Default shall exist, all funds deposited into the Recurring Replacement Reserve Escrow Account shall be held by Lender pursuant to the provisions of this Agreement and shall be applied in payment of Recurring Replacement Expenditures.
Borrower hereby agrees to pay all Recurring Replacement Expenditures with respect to each of the Projects (subject to the amount of money then on deposit in the Recurring Replacement Reserve Sub-Account or the Recurring Replacement Reserve Escrow Account and/or on deposit in the Cash Collateral Escrow Account and available for such purpose pursuant to this Agreement).
Borrower hereby agrees to pay all Recurring Replacement Expenditures with respect to the Property (without regard to the amount of money then available in the Recurring Replacement Reserve Sub-Account).
Provided that no Event of Default shall have occurred, all funds deposited into the Central Account relating to Recurring Replacement Expenditures shall be held by Mortgagee pursuant to the provisions of this Mortgage and shall be applied in payment of Recurring Replacement Expenditures.
Mortgagor hereby agrees to pay all Recurring Replacement Expenditures with respect to the Property (without regard to the amount of money then available in the Recurring Replacement Reserve Sub-Account or the Recurring Replacement Reserve Escrow Account).
As used herein, “Material Alteration” shall mean any alteration affecting structural elements of the applicable Project the cost of which exceeds $500,000; provided, however, that in no event shall (i) any Recurring Replacement Expenditures, (ii) any Reletting Expenditures or (iii) alterations performed as part of a restoration after a Casualty or Condemnation, constitute a Material Alteration.

More Definitions of Recurring Replacement Expenditures

Recurring Replacement Expenditures means expenditures related to capital repairs, replacements and improvements performed at the Trust Property from time to time.