Replacement Expenditures definition

Replacement Expenditures means Capital Expenditures performed at the Property from time to time which are not set forth in the Approved Annual Budget.
View Source
Replacement Expenditures shall have the meaning set forth in the Mortgage Loan Agreement.
View Source
Replacement Expenditures means, individually or collectively, as the context requires, FF&E Expenditures (which shall exclude any FF&E Expenditures with respect to any Marriott Managed Properties unless all FF&E funds reserved by Marriott Manager under the applicable Management Agreement by and between Operating Lessee and Marriott Manager with respect to such Marriott Managed Property have been expended in full) and the Required Capital Improvements.
View Source

Examples of 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.

  • Amounts on deposit in the Replacement Reserve Account that are not expended in any given Fiscal Year shall be available to be disbursed in accordance with Section 7.3.2 below for the cost of Replacement Expenditures in any subsequent Fiscal Year provided that any such non-expended balance shall not be deemed to reduce Borrower’s obligation to make the full amount of the Replacement Reserve Monthly Deposit during any subsequent Fiscal Year as and when due under this Section 7.3.1.

  • Provided that no Event of Default shall have occurred, all funds deposited into the Capex Trap Escrow Account shall be held by Lender pursuant to the provisions of this Security Instrument and shall be applied in payment of Replacement Expenditures.

  • 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).

  • Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacement Expenditures.

Related to Replacement Expenditures

  • Recurrent Expenditure means any expenditure on the establishment, conduct, administration and maintenance of the Academy which does not fall within the categories of capital expenditure set out at clause 36. The Secretary of State shall pay two separate and distinct grants in respect of Recurrent Expenditure: General Annual Grant (“GAG”) and Earmarked Annual Grant (“EAG”).

  • Independent expenditure means an expenditure by a person:

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • local expenditures means expenditures in the currency of the Borrower or for goods or services supplied from the territory of the Borrower; and

  • Planned Expenditures shall have the meaning provided in the definition of the term Excess Cash Flow.