Excess FF&E Value definition
Excess FF&E Value shall have the meaning given such term in paragraph (e) of Schedule 22.2. -------------
Excess FF&E Value of any Excess FF&E shall be the fair market value of such Excess FF&E (“Excess FF&E FMV”) plus the aggregate amount of out-of-pocket transactional costs (including, without limitation, reasonable attorneys’ fees and any ad valorem, sales, transfer, transaction, or similar tax, levy, or other governmental charge) incurred by such purchaser in connection with its purchase of such Excess FF&E. The “Market Leasing Factor” (with there to be a separate Market Leasing Factor for each whole number of years of expected useful life of Excess FF&E) shall be determined by an independent valuation expert, acceptable to both Landlord and Tenant, who shall determine the Market Leasing Factors based on the median of the leasing rates of at least three nationally recognized companies engaged in the business of leasing similar FF&E or personal property and equipment. The cost of such expert shall be borne by Landlord. Notwithstanding anything to the contrary contained in this paragraph 3, Tenant’s annual Rent as reduced by operation of this paragraph shall not be less than the Minimum Rent provided for in Article 3 of this Lease.