IHG PR, INC.,
INTERCONTINENTAL HOTELS GROUP RESOURCES, INC. AND MANAGER AS THE SAME MAY BE
AMENDED, SUPPLEMENTED OR REPLACED FROM TIME TO TIME IN ACCORDANCE WITH THE TERMS
THEREOF.
1.55
"DISBURSEMENT RATE"
SHALL MEAN A PER ANNUM RATE EQUAL TO THE
GREATER OF (I) THE SUM OF THE PER ANNUM RATE FOR FIFTEEN (15) YEAR U.S. TREASURY
OBLIGATIONS AS PUBLISHED IN THE WALL STREET JOURNAL, PLUS FOUR HUNDRED THIRTY
(430) BASIS POINTS AND (II) NINE AND FIVE-TENTHS PERCENT (9.5%).
1.56
"EFFECTIVE DATE"
SHALL MEAN FEBRUARY 16, 2005 WITH RESPECT TO ALL
HOTELS OTHER THAN THE AUSTIN HOTEL, FOR WHICH THE "EFFECTIVE DATE" SHALL MEAN
MAY 31, 2005, AND THE BALTIMORE
9
HOTEL, FOR WHICH THE "EFFECTIVE DATE" SHALL MEAN JANUARY 6, 2006.
1.57
"ENVIRONMENTAL NOTICE"
SHALL HAVE THE MEANING GIVEN SUCH TERM IN
SECTION 24.2(A).
1.58
"EXPIRATION DATE"
SHALL MEAN THE DATE ON WHICH THE TERM SHALL
EXPIRE.
1.59
"FISCAL MONTH"
SHALL MEAN EACH CALENDAR MONTH IN THE TERM OR EACH
PARTIAL CALENDAR MONTH IN THE TERM.
1.60
"FISCAL YEAR"
SHALL MEAN EACH CALENDAR YEAR IN THE TERM AND EACH
PARTIAL CALENDAR YEAR IN THE TERM.
1.61
"FURNITURE, FIXTURES AND EQUIPMENT" OR "FF&E"
SHALL MEAN,
COLLECTIVELY, ALL FURNITURE, FURNISHINGS AND EQUIPMENT (EXCEPT OPERATING
EQUIPMENT AND REAL PROPERTY FIXTURES INCLUDED IN THE DEFINITION OF BUILDINGS)
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, INTERCONTINENTAL, CROWNE PLAZA
OR HOLIDAY INN, AS APPLICABLE, HOTEL, INCLUDING EQUIPMENT FOR KITCHENS,
LAUNDRIES, DRY CLEANING FACILITIES, BARS, RESTAURANTS, PUBLIC ROOMS, COMMERCIAL
SPACE, PARKING AREAS, AND RECREATIONAL FACILITIES; (III) ALL PORTIONS OF THE
BALTIMORE CENTRAL PLANT AS ARE NOT INCLUDED IN THE DEFINITION OF BUILDINGS WITH
RESPECT TO THE BALTIMORE HOTEL; AND (IV) ALL OTHER FURNISHINGS AND EQUIPMENT
HEREAFTER LOCATED AND INSTALLED IN OR ABOUT THE BUILDINGS WHICH ARE USED IN THE
OPERATION OF THE BUILDINGS AS HOTELS IN ACCORDANCE WITH THE STANDARDS SET FORTH
IN THIS AGREEMENT.
1.62
"GOVERNMENT AGENCIES"
SHALL MEAN ANY COURT, AGENCY, AUTHORITY,
BOARD (INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL PROTECTION, PLANNING AND
ZONING), BUREAU, COMMISSION, DEPARTMENT, MINISTRY, REGULATORY BODY, OFFICE OR
INSTRUMENTALITY OF ANY NATURE WHATSOEVER OF ANY GOVERNMENTAL OR
QUASI-GOVERNMENTAL UNIT OF THE UNITED STATES OR CANADA OR ANY STATE, PROVINCE,
COUNTY, MUNICIPALITY OR ANY POLITICAL SUBDIVISION OF ANY OF THE FOREGOING,
WHETHER NOW OR HEREAFTER IN EXISTENCE, HAVING JURISDICTION OVER OWNER, ANY OF
THE SITES OR ANY OF THE HOTELS.
10
1.63
"GROSS REVENUES"
SHALL MEAN FOR ANY PERIOD WITH RESPECT TO EACH
HOTEL, ALL REVENUES AND INCOME OF ANY NATURE DERIVED DIRECTLY OR INDIRECTLY FROM
SUCH HOTEL OR FROM THE USE OR OPERATION THEREOF, WHETHER OR NOT SUCH REVENUES
AND INCOME ARE DERIVED FROM GOODS AND SERVICES PROVIDED AT THE HOTEL OR
OFF-SITE, INCLUDING, WITHOUT LIMITATION: ROOM SALES; FOOD AND BEVERAGE SALES