Examples of FF&E Reserve Account in a sentence

The FF&E Reserve Account shall be an interest bearing account with interest benefiting the Borrower or Operating Lessee, as applicable.
Borrower shall and/or shall cause Operating Lessee to cause Manager to make monthly deposits into the FF&E Reserve Account as and when required and in the amounts required pursuant to the Management Agreement (the “ Monthly FF&E Deposit”).
So long as a Default exists, Administrative Agent shall have the right to apply all amounts on deposit, or subsequently deposited while such Default exists, in the FF&E Reserve Account, in its sole discretion and in any order Administrative Agent deems fit to the repayment of the Loan and other amounts owing to Lenders under the Loan Documents and/or to cure such Default.
Funds on deposit in the FF&E Reserve Account may be used by Manager as described in and as permitted by the Management Agreement.
Funds to meet the FF&E Reserve will firstly be withdrawn from the Operating Account, to the extent there are available funds after required payments and commitments and, to the extent of any shortfall, Landowner will pay the shortfall into the FF&E Reserve Account within fifteen (15) Business Days of the Poshtel advising it of the shortfall.

More Definitions of FF&E Reserve Account

FF&E Reserve Account means an account established for a reserve for replacements, substitutions and additions to the FF&E.

FF&E Reserve Account means funds available for the repair, replacement or refurbishment of FF&E, which funds shall be provided by, and under the control of, Tenant through monthly payment into an account established on the Commencement Date by Tenant and maintained by Tenant during the Lease Term.

FF&E Reserve Account means, with respect to each Collateral Property, an account into which the FF&E Reserve shall be deposited from time to time as provided in Section 8.20.

FF&E Reserve Account has the meaning ascribed to such term in Section 5.04.A.

FF&E Reserve Account as defined in Section 2.1(a)(ii).

FF&E Reserve Account means the account established pursuant to Section 2.11(d).

FF&E Reserve Account. Each Reserve Account shall be a custodial account established by Lender and shall not constitute a trust fund. At Lender’s option, funds deposited into a Reserve Account may be commingled with other money held by Lender or its servicer. Borrower acknowledges and agrees that the Reserve Accounts are subject to the sole dominion, control and discretion of Lender, its authorized agents or designees, subject to the terms hereof. Borrower shall not have the right to make any withdrawal from any Reserve Account.