FF&E Expenditures definition

FF&E Expenditures means amounts expended for the purchase, replacement and/or installation of FF&E at the Properties.

FF&E Expenditures means expenditures for the repair, replacement or acquisition (as appropriate) of furniture, fixtures and equipment for the Premises, so long as such repairs, replacements or acquisitions would be capitalized as an asset for accounting purposes under GAAP.

FF&E Expenditures shall have the meaning set forth in the Mortgage Loan Agreement.

Examples of FF&E Expenditures in a sentence

• For the avoidance of doubt, any funds disbursed from the FF&E Reserve and spent on and/or as reimbursement for the costs of Capital Expenditures that constitute Permitted FF&E Expenditures shall be applied toward the Minimum Cap Ex Requirements.

• Borrowers shall pay to Lender on each Payment Date an amount equal to three percent (3%) of the Gross Income from Operations of the Hotel/Casino Property for the immediately preceding calendar month, to be applied in accordance with this Agreement to the costs of FF&E Expenditures and FF&E Expenditures Work required to be made to the Hotel/Casino Property during the calendar year (collectively, the “Replacements”).

• Tenant shall be entitled to use FF&E Reserve Funds solely for the purpose of paying for (or reimbursing Tenant for) the cost of Permitted FF&E Expenditures.

• Amounts so deposited with Administrative Agent shall be disbursed (if at all) as provided in Section 17.3(b) below only for the payment of Approved FF&E Expenditures.

• For example, (i) funds held in the Tax Escrow Account shall not be used to pay for FF&E Expenditures; and (ii) funds held in the FF&E Reserve Account shall not be used to pay for Insurance Premiums.

More Definitions of FF&E Expenditures

FF&E Expenditures for any period shall mean the amount expended for FF&E Work in, at or to the Property.

FF&E Expenditures for any period shall mean amounts expended for FF&E as set forth in the Approved Annual Budget.

FF&E Expenditures means, individually or collectively as the context indicates, amounts expended from time to time with respect to FF&E at the Property.

FF&E Expenditures means, for any period, the amount expended for the purchase of furniture, fixtures or equipment.

FF&E Expenditures shall not include any program of capital improvements involving an addition to the Improvements, or designed to substantially upgrade or change the nature or image of the Improvements (as opposed to a renovation or refurbishing which might take place as part of the normal or cyclical upkeep of the Improvements).

FF&E Expenditures means all renovations, refurbishing, replacements of, or additions to, FF&E, and any special projects designed to maintain the Improvements in a condition consistent with the condition thereof as of the Closing Date, including without limitation, renovation of the guest room areas, public space, food and beverage facilities, spa or recreational facilities, which projects will generally comprise replacements of, or additions to, FF&E, but may include revisions and alterations in the Improvements. The term “FF&E Expenditures” shall not include any program of capital improvements involving an addition to the Improvements, or designed to substantially upgrade or change the nature or image of the Improvements (as opposed to a renovation or refurbishing which might take place as part of the normal or cyclical upkeep of the Improvements).

FF&E Expenditures means costs incurred in connection with (i) the repair and replacement of FF&E and (ii) at any time that the current Property Management Contracts are in full force and effect, “Routine Capital Expenditures” as defined therein or other expenditures to be made from the Marriott FF&E Reserve Account.