FF&E Reserves definition

FF&E Reserves means, for any period and with respect to any Hotel Property, an amount equal to 4.0% of Gross Operating Revenues of such Hotel Property.

FF&E Reserves means, for any period and with respect to a Property, an amount equal to the greater of (a) 4.0% of total gross revenues for such Property for such period and (b) the aggregate amount of reserves in respect to furniture, fixtures and equipment required under any Property Management Agreement or Franchise Agreement applicable to such Properties for such period. If the term FF&E Reserves is used without reference to a specific Property, then the amount shall be determined on an aggregate basis with respect to all Properties of the Parent and its Subsidiaries and a proportionate share of all Properties of all Unconsolidated Affiliates.

FF&E Reserves means 4% of total revenues.

Examples of FF&E Reserves in a sentence

• The Borrower shall cause to be maintained the FF&E Reserves pursuant to the terms of the Operating Leases.

• In addition, certain related term loans require AHIP to deposit reserves for FF&E Reserves, cash collateral, property taxes and insurance premiums.

• All House Cash and FF&E Reserves shall be available to the Purchaser at the Property at Closing.

• The term “Purchased Working Capital” shall mean the agreed upon sum of fifty thousand dollars ($50,000) which amount represents the Partnership’s good faith estimate of the Partnership’s current assets shown on the Hotels’ balance sheet (exclusive of any FF&E Reserves) less the Partnership’s current liabilities shown on the Hotels’ balance sheet at the close of business on the Closing Date.

• For the Virginia Portfolio, the FF&E Reserves for three of the four properties were waived for the initial 12 months and waived for the initial 24 months for the fourth property.

More Definitions of FF&E Reserves

FF&E Reserves means, for any period and with respect to a Property, an amount equal to the greater of (a) 4.00% of total gross revenues for such Property for such period and (b) the aggregate amount of reserves in respect to furniture, fixtures and equipment required under any Property Management Agreement or Franchise Agreement applicable to such Property for such period. If the term FF&E Reserves is used without reference to a specific Property, then the amount shall be determined on an aggregate basis with respect to all Properties of the Parent Guarantor and its Subsidiaries and the applicable Ownership Share of all Properties of all Unconsolidated Affiliates of the Parent Guarantor.

FF&E Reserves means such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s reasonable discretion with respect to Eligible FF&E (including, without limitation, (a) to reflect the impediments to the Administrative Agent’s ability to realize upon Eligible FF&E, (b) to reflect claims and liabilities that the Administrative Agent determines will need to be satisfied in connection with the realization upon the Eligible FF&E, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect the Eligible FF&E or (d) to reflect costs and expenses associated with the Eligible FF&E (including, without limitation, maintenance, utilities, insurance and security) and including any such costs and expenses that the Administrative Agent reasonably determines may need to be paid in connection with the realization upon the Eligible FF&E).

FF&E Reserves as defined in the Operating Agreements.

FF&E Reserves has the meaning ascribed to such term in Section 5.04.A “Final Statement” has the meaning ascribed to such term in Section 11.09.A.

FF&E Reserves means, with respect to any Borrowing Base Property or Person for any period, and without duplication, an assumed reserve for FF&E and other capital expenditures equal to four percent (4%) of Gross Revenues of such Borrowing Base Property or Person for such period.

FF&E Reserves means, with respect to any Property, reserves for capital improvements and other capital expenditures equal to the greater of (i) the assumed reserves stipulated in the Management Agreement with respect to such Property and (ii) four percent (4.00%) of the aggregate gross revenue from operations of such Property for such time period.

FF&E Reserves means amounts reserved to pay expenses relating to (a) the general acquisition and installation of FF&E, (b) the replenishment of FF&E and (c) the completion of certain work to be performed by Borrower under the Franchise Agreement relating to FF&E.