FF&E Reserves definition
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.
The Aggregate Owner’s Priority, the Pooled FF&E Reserves and the Aggregate Owner’s Residual Payment shall be allocated among Owners as Owners shall determine in their sole discretion and Managers shall have no responsibility or liability in connection therewith.
Any waiver, reduction or adjustment by the Administrative Agent of the FF&E Reserves required by the Senior Credit Agreement shall be binding on the FF&E Agent, GE Capital and the Participants.
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 one hundred thousand dollars ($100,000) which amount represents the Company’s good faith estimate of the Company’s current assets shown on the Hotel balance sheet (exclusive of any FF&E Reserves) less the Company’s current liabilities shown on the Hotel balance sheet at the close of business on the Closing Date.