Commitments and Contingencies Restricted Cash Reserves The Company is obligated to maintain cash reserve funds for future capital expenditures at the hotels (including the periodic replacement or refurbishment of furniture, fixtures and equipment ("FF&amp;E")) as determined pursuant to the management agreements, franchise agreements and/or mortgage loan documents. The management agreements, franchise agreements and/or mortgage loan documents require the Company to reserve cash ranging typically from 4.0% to 5.0% of the individual hotels revenues and maintain the reserves in restricted cash reserve escrows. Any unexpended amounts will remain the property of the Company upon termination of the management agreements, franchise agreements or mortgage loan documents. As of September 30, 2017 and December 31, 2016 , approximately $6.7 million and $19.5 million , respectively, was available in the restricted cash reserves for future capital expenditures, real estate taxes and insurance. Lease Commitments In the future, the Company will receive rental income from the Lessees under its lease agreements. The lease agreements contain a specific base rent amount and a percentage rent amount, which is calculated based on a percentage of room revenues, food and beverage revenues, and other revenues at the hotel properties. The lease agreements will expire in 2018 (one hotel), 2019 (26 hotels), and thereafter (nine hotels). As of September 30, 2017, the future minimum lease payments to the Company under the noncancelable operating leases were as follows (in thousands): 2017 $ 22,721 2018 95,343 2019 84,611 2020 (1)  2021 (1)  Thereafter (1)  Total $ 202,675 (1) In 2020, the lease terms for the in-place lease agreements will be reset to market-based rental terms. At that time, the future minimum lease payments to the Company under the noncancelable operating leases will be determined. Litigation Other than the legal proceedings mentioned below, neither the Company nor any of its subsidiaries is currently involved in any regu