Reassessment of Required Deposit. If at any time Lender reasonably determines that the Advance Bookings Reserve Funds then on deposit in the Advance Bookings Reserve Account are less than the aggregate of all then unearned or otherwise refundable Advance Bookings Deposits, Lender may, if a Marriott Management Period no longer exists, notify Borrower of such determination and of the amount estimated by Lender to make-up such deficiency as reasonably determined by Lender. Within ten (10) days after such notice from Lender, Borrower shall deliver (or cause to be delivered) the deficiency amount to Lender, and Lender shall deposit the same in the Advance Bookings Reserve Account and hold and administer same in accordance with this Agreement.
Appears in 2 contracts
Sources: Loan Agreement (CNL Hotels & Resorts, Inc.), Mezzanine Loan Agreement (CNL Hotels & Resorts, Inc.)