Common use of Advances for FF&E Component Clause in Contracts

Advances for FF&E Component. (a) All Project Costs allocated pursuant to the Project Budget to the FF&E Component shall be made from the following sources and in the following order of priority: (i) first, from the Closing Date and until the final Advance from the Second Mortgage Notes Proceeds Account pursuant to clause (ii) below, from funds from time to time on deposit in the Company's Funds Account, until Exhausted; (ii) then, from funds from time to time on deposit in the Second Mortgage Notes Proceeds Account, until the amount remaining in the Second Mortgage Notes Proceeds Account equals but does not exceed the Second Mortgage Notes Interest Reserve Amount; and (iii) then, from funds available to be drawn under the FF&E Facility and the Resort Component Funding Sources, until Exhausted, in such amounts so that after giving effect to the requested Advance, the aggregate amount of all Project Costs allocated pursuant to the Project Budget to the FF&E Component (other than the amounts advanced in connection with the Aircraft under clause (b) below) shall have been Advanced in the following percentages:(A) seventy-five percent (75%) shall have been Advanced from the FF&E Facility, and (B) twenty-five percent (25%) shall have been Advanced from the Resort Component Funding Sources. For purposes of the foregoing calculation it shall be deemed that the amount represented by the FF&E Reimbursement Advance was Advanced by the FF&E Facility and not by the Resort Component Funding Sources. (b) All Project Costs allocated pursuant to the Project Budget to the purchase (or indebtedness incurred to fund the purchase) or refinancing of the Aircraft (including any replacement Aircraft) shall be made from funds available to be drawn under the FF&E Facility (to the extent provided therein).

Advances for FF&E Component. (a) All Project Costs allocated pursuant to the Project Budget to the FF&E Component shall be made from the following sources and in the following order of priority: (i) first, from the Closing Date and until the final Advance from the Second Mortgage Notes Proceeds Account pursuant to clause (iiiii) below, from funds from time to time on deposit in the Company's Company Funds Account, until Exhausted; (ii) then, from funds from time to time on deposit in the Second Mortgage Notes Proceeds Account, until the amount remaining in the Second Mortgage Notes Proceeds Account equals but does not exceed the Second Mortgage Notes Interest Reserve Amount; and (iii) then, from funds available to be drawn under the FF&E Facility and the Resort Component Funding Sources, until Exhausted, in such amounts so that after giving effect to the requested Advance, the aggregate amount of all Project Costs allocated pursuant to the Project Budget to the FF&E Component (other than the amounts advanced in connection with the Aircraft under clause (b) belowrefinancing of the Aircraft) shall have been Advanced in the following percentages:(Apercentages: (A) seventy-five percent (75%) shall have been Advanced from the FF&E Facility, and (B) twenty-five percent (25%) shall have been Advanced from the Resort Component Funding Sources. For purposes of the foregoing calculation it shall be deemed that the amount represented by the FF&E Reimbursement Advance was Advanced by the FF&E Facility and not by the Resort Component Funding Sources. (b) All Project Costs allocated pursuant to the Project Budget to the purchase (or indebtedness incurred to fund the purchase) or refinancing of the Aircraft (including any replacement Aircraft) shall be made from funds available to be drawn under the FF&E Facility (to the extent provided therein)Facility.

Advances for FF&E Component. (a) All Project Costs allocated pursuant to the Project Budget to the FF&E Component shall be made from the following sources and in the following order of priority: (i) first, from the Closing Date and until the final Advance from the Second Mortgage Notes Proceeds Account pursuant to clause (iiiii) below, from funds from time to time on deposit in the Company's Company Funds Account, until Exhausted; (ii) then, from funds from time to time on deposit in the Second Mortgage Notes Proceeds Account, until the amount remaining in the Second Mortgage Notes Proceeds Account equals but does not exceed the Second Mortgage Notes Interest Reserve AmountExhausted; and (iii) then, from funds available to be drawn under the FF&E Facility and the Resort Component Funding Sources, until Exhausted, in such amounts so that after giving effect to the requested Advance, the aggregate amount of all Project Costs allocated pursuant to the Project Budget to the FF&E Component (other than the amounts advanced in connection with the Aircraft under clause (b) belowrefinancing of the Aircraft) shall have been Advanced in the following percentages:(Apercentages: (A) seventy-five percent (75%) shall have been Advanced from the FF&E Facility, and (B) twenty-five percent (25%) shall have been Advanced from the Resort Component Funding Sources. For purposes of the foregoing calculation it shall be deemed that the amount represented by the FF&E Reimbursement Advance was Advanced by the FF&E Facility and not by the Resort Component Funding Sources. (b) All Project Costs allocated pursuant to the Project Budget to the purchase (or indebtedness incurred to fund the purchase) or refinancing of the Aircraft (including any replacement Aircraft) shall be made from funds available to be drawn under the FF&E Facility (to the extent provided therein)Facility.