Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget (the "CAPITAL BUDGET") prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Lease Agreement (Ashford Hospitality Trust Inc), Account Agreement (Ashford Hospitality Trust Inc)
Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget (the "“CAPITAL BUDGET"”) prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Lease Agreement (Capital Lodging), Lease Agreement (Gadsden Growth Properties, Inc.)
Capital Budget. Not later than forty-five (45) days prior to the commencement of each Lease Year, Lessee shall prepare and submit to Lessor a capital improvement budget for the Lease Year (the "CAPITAL BUDGET"“Capital Budget”) prepared in accordance with the Uniform System to the extent applicable, and shall set forth the proposed Capital Expenditures for the ensuing Lease Year.
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
