Monthly FF&E Reserve Amount definition

Monthly FF&E Reserve Amount means the monthly deposit for FF&E required pursuant to Section 7.3 of this Agreement.

Monthly FF&E Reserve Amount means an amount determined by Lender (based upon the most recent monthly operating statements delivered pursuant hereto) equal to 4% of Hotel Revenue.

Monthly FF&E Reserve Amount. An amount equal to: (A) with respect to the first (1st) five (5) deposits into the FF&E Reserve, Three Million One Hundred Eighty-Six Thousand One and No/100 Dollars ($3,186,001.00); and (B) thereafter, the quotient of (i) the sum of (a) five percent (5%) of the Net Revenue from the Facility attributable to guest rooms, food and beverage for the prior Fiscal Year, plus (b) two percent (2%) of all other Net Revenue from the Facility for the prior Fiscal Year, divided by (ii) twelve (12).

Examples of Monthly FF&E Reserve Amount in a sentence

• Borrower shall cause Manager to reserve for FF&E on a monthly basis in accordance with the Management Agreement not less than an amount equal to the Monthly FF&E Reserve Amount, such reserves to be maintained in the Hotel Bank Accounts (as defined in the Management Agreement) (subject to disbursements therefrom as permitted by the Management Agreement), provided however, this Section 5.1.22 shall not affect Borrower’s obligations hereunder to set aside reserves for FF&E.

• Lender will, in accordance with Section 3.1.6 hereof, instruct the Cash Management Bank to transfer from the Holding Account the Monthly FF&E Reserve Amount to the FF&E Reserve Account.

• On each Payment Date from and after the Payment Date occurring in June, 2007, the Borrower shall deposit or monies shall be transferred in accordance with Section 9.4 hereof from the Deposit Account into the FF&E Reserve Account in an amount equal to the Monthly FF&E Reserve Amount.

• Manager shall reserve for FF&E on a monthly basis in accordance with the terms of the Management Agreement not less than an amount equal to the Monthly FF&E Reserve Amount; such reserves are maintained in the Hotel Bank Accounts (as defined in the Management Agreement) (subject to disbursements therefrom as permitted by the Management Agreement).

• In addition to the foregoing, on each Payment Date from and after the Payment Date occurring in December, 2005, the Borrower shall deposit or monies shall be transferred in accordance with Section 9.4 hereof from the Deposit Account into the FF&E Reserve Account in an amount equal to the aggregate of (i) the Monthly FF&E Reserve Amount and (ii) any Monthly FF&E Reserve Amount (or portion thereof) from a prior Payment Date that was not deposited in the FF&E Reserve Account, if any.

More Definitions of Monthly FF&E Reserve Amount

Monthly FF&E Reserve Amount means an amount determined by Administrative Agent (based upon the most recent monthly operating statements delivered pursuant hereto) equal to 3% of Operating Income.

Monthly FF&E Reserve Amount means, for any Property, as of any specified date, the excess, if any, of (a) 4.0% of gross revenues of each Property, for the calendar month then most recently ended, as such gross revenues are computed in accordance with the applicable Property Management Agreement, over (b) the amount paid, reserved or withheld by the applicable Property Manager in accordance with the terms of the applicable Property Management Agreement for capital expenditures in respect of FF&E for the same calendar month (it being expressly agreed by the parties hereto for purposes hereof that a mere book entry of an amount shall not be deemed to be the payment, reserve or withholding of such amount).

Monthly FF&E Reserve Amount means as of any specified date, 4.0% of Gross Hotel Revenues of the Property for the calendar month then most recently ended plus 2.0% of the Gross Casino Revenues for the calendar month then most recently ended.

Monthly FF&E Reserve Amount means, with respect to each Payment Date, an amount equal to (i) 4% times (ii) the Operating Income of the Property for the calendar month ending two months prior to the calendar month in which such Payment Date occurs.

Monthly FF&E Reserve Amount means, with respect to the Mortgaged Properties, with respect to each Payment Date, an amount equal to (x) 1/12 times (y) 4.0% times (z) the aggregate Operating Income of the Mortgaged Properties (excluding Operating Income for any Mortgaged Properties that have been released from the Liens of the Loan Documents in accordance with this Agreement) during the immediately preceding 12-month period, or such greater amount as may be required to be reserved for such purposes pursuant to the terms of the Approved Franchise Agreements or Approved Management Agreements with respect to the Mortgaged Properties.

Monthly FF&E Reserve Amount means, for any Property, as of any specified date, the excess, if any, of (a) 4.0% (5% after the tenth anniversary of the applicable Property Management Agreement) of gross revenues of each Property, for the calendar month then most recently ended, as such gross revenues are computed in accordance with the applicable Property Management Agreement, over (b) the amount paid, reserved or withheld by the applicable Property Manager in accordance with the terms of the applicable Property Management Agreement for capital expenditures in respect of FF&E for the same calendar month (it being expressly agreed by the parties hereto for purposes hereof that a mere book entry of an amount shall not be deemed to be the payment, reserve or withholding of such amount).

Monthly FF&E Reserve Amount shall have the meaning set forth in Section 16.3.1.