F&B Revenue definition

F&B Revenue means the actual food and beverage revenue as determined from the most recent operating statement for the Property at the time of determination, to the extent such revenue is deemed recurring and sustainable, determined on a trailing 12-month basis, computed in accordance with accounting principles reasonably acceptable to Lender; provided, however, that in no event will F&B Revenue exceed 5% of Underwritten Revenue.
View Source
F&B Revenue. Gross revenue from the sale of food and beverages, including alcoholic beverages, whether to individuals, groups or transients, at the Facility, including cancellation and attrition but excluding the following:
View Source

Examples of F&B Revenue in a sentence

  • Deemed F&B Revenue – one hundred percent (100%) of the amount that would have been charged by Manager in the ordinary course of business for food and beverage or other services and amenities not discounted; provided, however, in calculating Deemed Revenue for the purposes of this Agreement, Manager shall not include any amount of Deemed F&B Revenue which exceeds the Deemed F&B Cap.

  • The Hotel is relying upon The University’s usage of the agreed upon Room Night Commitment and the Agreed Event F&B Revenue as outlined in Exhibit A and/or B.

  • ASSOCIATION ACRONYM must provide Hotel ample notice of the date(s), time(s), and number of covers with respect to the function(s) it wishes to schedule in providing the Agreed Event F&B Revenue and will provide final guarantees of this information no later than 72 hours prior to the scheduled time for each such function (any such guaranteed function, a “Guaranteed Function”).

  • By the tenth (10th) day of each month, Franchisee agrees to prepare and send Hyatt a statement for the previous month, certified by Franchisee’s chief financial or principal accounting officer, listing Gross Rooms Revenue, Gross F&B Revenue, other Hotel revenues, room occupancy rates, reservation data, the amounts currently due under Article VI, and other information that Hyatt deems useful in connection with the Hotel System.

  • The University agrees to provide Hotel with written notice of any decision to cancel or to otherwise essentially abandon its use of the Room Night Commitment and/or Agreed Event F&B Revenue (a “Cancellation”) within five (5) business days of such decision.

  • If The University fails to provide Hotel with the full Agreed Event F&B Revenue, The University will pay Hotel within thirty (30) days, as liquidated damages and not as a penalty, the difference between the Agreed Event F&B Revenue and the Actual Event Food and Beverage Revenue received by Hotel.

  • Deemed F&B Cap – an amount equal to twenty-two percent (22%) of this sum of (a) Deemed Standard Room Revenue, (b) Deemed Suite Revenue, (c) Deemed F&B Revenue and (d) the aggregate amount of all other Comps provided by Manager, whether such Comps are for food and/or beverage, services, amenities and/or entertainment owned and operated by Owner, Manager and/or a Third Party Operator (i.e., Comps for the Theater, Spa & Fitness Center, retail outlets, nightclubs and/or ultra-lounge).

  • Franchisee acknowledges that the Royalty Fee is based on Gross F&B Revenue, not on the lease payments or other revenues that Franchisee would receive from any restaurant operator.

  • If American Association of Avian Pathologists fails to (i) provide Hotel with the full Agreed Event F&B Revenue; or (ii) use all of the covers at any Guaranteed Function; or (iii) provide Hotel with any increase in the Agreed Event F&B listed in the Banquet Event Order, American Association of Avian Pathologists will pay Hotel within thirty (30) days, as liquidated damages and not as a penalty.

  • Deemed Revenue – collectively, Deemed F&B Revenue (in an amount not to exceed the Deemed F&B Cap), Deemed Suite Revenue and Deemed Standard Room Revenue.