Hotel Value definition
Hotel Value means, with respect to any Hotel Property, at any date, the value thereof to be calculated as follows:
Hotel Value means, at any time, (x) the aggregate Property Allocated Values of all Hotel Properties less (y) 10% of the aggregate Property Allocated Values of
Hotel Value means, with respect to the first Calendar Year, the sum of: (a) [Insert BOV AMOUNT], plus (b) the amount by which Capital Expenditures exceed the Imputed FF&E Reserve for the first Calendar Year. Thereafter, Hotel Value for each Calendar Year shall increase by the amount by which Capital Expenditures for such Calendar Year, cumulative from the Commencement Date, exceed the Imputed FF&E Reserve.
Examples of Hotel Value in a sentence
As of the end of any calendar quarter, the outstanding principal amount under the Notes plus the total amount of outstanding Letters of Credit to exceed the sum of (i) 65% of Office Value plus (ii) 55% of Hotel Value.
For any calendar quarter, the ratio of (i) the aggregate of Property Net Operating Income for all Hotel Properties for such quarter and the three (3) immediately preceding calendar quarters to (ii) the product of (x) the ratio of Hotel Value to Total Value, each as of the end of such quarter, multiplied by (y) the outstanding principal amount of the Notes plus the total amount of outstanding Letters of Credit as of the end of such quarter, to be less than 15%.
More Definitions of Hotel Value
Hotel Value means, with respect to any Hotel Property, at any date, the
Hotel Value. Subordinate Indebtedness", or "Adjusted EBITDA", but not the definitions that are used in such definitions, or (h) release the Parent from its obligations under the Guaranty; and provided, -------- further, that no amendment, waiver or consent shall, unless in writing and signed by the Documentation Agent, the Administrative Agent, or any Issuing Bank in addition to the Banks required above to take such action, affect the rights or duties of the Documentation Agent, the Administrative Agent, or such Issuing Bank, as the case may be, under this Agreement or any other Credit Document. In addition, none of the following decisions shall be made without the written consent of the Super Majority Banks: