Additional Marriott Advances definition

Additional Marriott Advances means Additional Marriott Advances under the Pooling Agreement, and if the Pooling Agreement does not apply to any Hotel, then the portion of such Additional Marriott Advances determined to be allocable to such Hotel in accordance with the Pooling Agreement.

Additional Marriott Advances means all advances made by Marriott pursuant to Sections 3.03, 4.03 (to the extent described therein as deemed Additional Marriott Advances) and 5.01.B of this Agreement, together with simple interest at the rate of nine percent (9%) per annum on the outstanding balance thereof from time to time.

Examples of Additional Marriott Advances in a sentence

• Upon expiration of the entire term of each Management Agreement and expiration of the entire term of the Lease (in each instance including with respect to any exercised renewals), and provided that such expiration did not result from a default by Tenant under any Management Agreement, Tenant shall have no further liability for repayment of Additional Marriott Advances made pursuant to this Agreement.

• Tenant Aggregate Operating Loss Advances shall be repaid in accordance with Section 2.02.A(2) hereof, and Additional Marriott Advances shall be repaid in accordance with Section 2.02.A(2) hereof.

• Any Tenant Aggregate Operating Loss Advances and/or Additional Marriott Advances and/or Additional Manager Advances shall be repaid in accordance with Section 2.02.A(4) hereof.

• Upon expiration of the entire term of each Management Agreement, and following the completion of the final accounting provided for in Section 11.11.A of each Management Agreement and the distributions provided for therein, and provided that such expiration did not result from a default by any Tenant under any Management Agreement, Tenants shall have no further liability for repayment of Additional Marriott Advances made pursuant to this Agreement.