BETWEEN SUCH ACCOUNTING PRINCIPLES AND
ACCOUNTING PRINCIPLES.
1.24
"CONSUMER PRICE INDEX"
SHALL MEAN THE CONSUMER PRICE INDEX FOR ALL
URBAN CONSUMERS, U.S. CITY AVERAGE, PUBLISHED BY THE UNITED STATES BUREAU OF
LABOR STATISTICS.
1.25
"CONTROLLING INTEREST"
SHALL MEAN THE POSSESSION, DIRECTLY OR
INDIRECTLY, OF THE POWER TO DIRECT OR CAUSE THE DIRECTION OF THE BUSINESS,
MANAGEMENT OR POLICIES OF SUCH PERSON.
1.26
"DEBT SERVICE COVERAGE RATIO"
SHALL MEAN, WITH RESPECT TO ANY LOAN
OR OTHER DEBT SECURED BY AN AUTHORIZED MORTGAGE, THE QUOTIENT OBTAINED BY
DIVIDING (A) THE NOI OF THE PROPERTIES SECURING SUCH LOAN OR OTHER DEBT FOR THE
TWELVE (12) MONTHS ENDING ON SUCH DATE BY (B) REGULARLY SCHEDULED INTEREST AND
PRINCIPAL PAYMENTS PROJECTED TO BE PAID THEREUNDER DURING THE FIRST (1ST) TWELVE
(12) MONTHS AFTER THE FIRST DAY OF THE MONTH NEXT AFTER THE DATE ON WHICH SUCH
AUTHORIZED MORTGAGE IS GRANTED DIVIDED.
1.27
"DEPOSIT"
SHALL HAVE THE MEANING GIVEN SUCH TERM IN SECTION 17.5.
1.28
"DISBURSEMENT RATE"
SHALL MEAN A PER ANNUM RATE EQUAL TO THE
GREATER OF (I) THE SUM OF THE PER ANNUM RATE FOR TWENTY (20) YEAR U.S. TREASURY
OBLIGATIONS AS PUBLISHED IN THE WALL STREET JOURNAL, PLUS THREE HUNDRED (300)
BASIS POINTS AND (II) TEN PERCENT (10%).
1.29
"EFFECTIVE DATE"
SHALL MEAN THE DATE HEREOF.
1.30
"ENVIRONMENTAL LAWS"
SHALL HAVE THE MEANING GIVEN SUCH TERM IN
SECTION 24.2(B).
1.31
"ENVIRONMENTAL NOTICE"
SHALL HAVE THE MEANING GIVEN SUCH TERMS IN
SECTION 24.2(A).
1.32
"EXPIRATION DATE"
SHALL MEAN THE DATE ON WHICH THE TERM SHALL
EXPIRE.
4
1.33
"FISCAL MONTH"
SHALL MEAN EACH CALENDAR MONTH IN THE TERM OR EACH
PARTIAL CALENDAR MONTH IN THE TERM.
1.34
"FISCAL YEAR"
SHALL MEAN EACH CALENDAR YEAR IN THE TERM AND EACH
PARTIAL CALENDAR YEAR IN THE TERM.
1.35
"FURNITURE, FIXTURES AND EQUIPMENT" OR "FF&E"
SHALL MEAN,
COLLECTIVELY, ALL FURNITURE, FURNISHINGS AND EQUIPMENT (EXCEPT OPERATING
EQUIPMENT AND REAL PROPERTY FIXTURES) NOW OR HEREAFTER LOCATED AND INSTALLED IN
OR ABOUT THE HOTELS WHICH ARE USED IN THE OPERATION THEREOF AS HOTELS IN
ACCORDANCE WITH THE STANDARDS SET FORTH IN THIS AGREEMENT, INCLUDING, WITHOUT
LIMITATION (I) OFFICE FURNISHINGS AND EQUIPMENT; (II) SPECIALIZED HOTEL
EQUIPMENT NECESSARY FOR THE OPERATION OF ANY PORTION OF THE BUILDING AS A
STAYBRIDGE SUITES HOTEL, INCLUDING EQUIPMENT FOR KITCHENS, LAUNDRIES, DRY
CLEANING FACILITIES, BARS, RESTAURANTS, PUBLIC ROOMS, COMMERCIAL SPACE, PARKING
AREAS, AND RECREATIONAL FACILITIES; AND (III) ALL OTHER FURNISHINGS AND
EQUIPMENT HEREAFTER LOCATED AND INSTALLED IN OR ABOUT THE BUILDINGS WHICH ARE
USED IN THE OPERATION OF THE BUILDINGS AS A STAYBRIDGE SUITES HOTEL IN
ACCORDANCE WITH THE STANDARDS SET FORTH IN THIS AGREEMENT.
1.36
"GOVERNMENT AGENCIES"
SHALL MEAN ANY COURT, AGENCY, AUTHORITY,
BOARD (INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL PROTECTION, PLANNING AND
ZONING), BUREAU, COMMISSION, DEPARTMENT, OFFICE OR INSTRUMENTALITY OF ANY NATURE
WHATSOEVER OF ANY GOVERNMENTAL OR QUASI-GOVERNMENTAL UNIT OF THE UNITED STATES
OR ANY STATE OR ANY COUNTY OR ANY POLITICAL SUBDIVISION OF ANY OF THE FOREGOING,
WHETHER NOW OR HEREAFTER IN EXISTENCE, HAVING JURISDICTION OVER OWNER, THE SITES
OR THE HOTELS.
1.37
"GROSS