Allocated Expenses Sample Clauses
The Allocated Expenses clause defines how costs and expenses related to a particular agreement or project are distributed among the involved parties. Typically, it specifies which expenses are shared, which are borne individually, and the method for calculating each party’s share—such as administrative fees, operational costs, or third-party charges. This clause ensures transparency and fairness in cost allocation, preventing disputes by clearly outlining financial responsibilities.
Allocated Expenses. Reference is made to the Fund Accountant Expense Allocation Methodology (the “Methodology”) as prepared and presented by HFMC to the Board and reviewed by ▇▇▇▇▇▇ ▇. ▇▇▇▇ & Co., Inc., or any successor to such consultant as may be appointed or engaged by the members of the Board who are not “Interested Persons” of the Funds, as that term is defined under the 1940 Act (the “Consultant”). Expenses allocated to HFMC by its parent company, Hartford Funds Management Group, Inc., pursuant to the Methodology, are referred to as the “Allocated Expenses.” For the avoidance of doubt, Allocated Expenses include only those expenses the allocation of which is consistent with the Methodology most recently presented to and reviewed by (i) the Board or (ii) at the direction of the Board, the Consultant.
Allocated Expenses. Reference is made to the Transfer Agency Expense Methodology (the “Methodology”) as prepared by ▇▇▇▇▇, presented to the Board and reviewed by the consultant appointed or engaged by the members of the Board who are not “Interested Persons” of the Funds, as that term is defined under the Investment Company Act of 1940, as amended (the “Consultant”). Expenses allocated to HASCO by its parent company, Hartford Funds Management Group, Inc., pursuant to the Methodology, are referred to as the “Allocated Expenses.” For the avoidance of doubt, Allocated Expenses include only those expenses the allocation of which is consistent with the Methodology most recently presented to and reviewed by (i) the Board or (ii) at the direction of the Board, the Consultant.
Allocated Expenses. (a) For each officer, employee or consultant of Provider that provides Services to LMC (each, an “Employee”), LMC shall be allocated an amount (the “Employee Compensation”) equal to his or her aggregate salary, bonus and health, retirement and other benefits multiplied by his or her LMC Percentage (as defined below). The “LMC Percentage” with respect to any Employee will equal the estimate of the relative amount of time that such Employee will spend providing Services to LMC over a defined period of time. LMC will pay the Provider the aggregate Employee Compensation so allocated to it under this Section 2.1(a), together with such other costs and expenses as may be incurred by the Provider in connection with the provision of Services to LMC hereunder (collectively with the aggregate Employee Compensation but exclusive of any Out-of-Pocket Costs (as defined below), the “Allocated Expenses”). The Allocated Expenses will be more fully set forth in, or determined from time to time in the manner set forth in, Schedule 2.1 attached hereto, as such Schedule may be periodically amended and revised by the parties. It is intended that the payments by LMC to Provider under this Agreement in respect of Allocated Expenses are equivalent to those which LMC would pay to a third party on an arm’s length basis for the same services.
(b) The LMC Percentage applicable to each Employee and the Allocated Expenses will be determined by the Provider, in consultation with LMC, on or about each December 15th during the Term based on the anticipated Services to be provided by Employees to LMC during the upcoming fiscal year, among other things deemed relevant by the parties. The Provider and LMC will review and evaluate the LMC Percentages and Allocated Expenses for reasonableness semi-annually during the Term, and will negotiate in good faith to reach agreement on any appropriate adjustments to the LMC Percentages and Allocated Expenses based on such review and evaluation, including: (i) adjustments that reflect changes to the Employee Compensation of each Employee; (ii) adjustments that reflect changes to any other costs or expenses included in the Allocated Expenses; (iii) adjustments that reflect changes in the allocable percentages of time spent by particular Employees providing Services to LMC; and (iv) agreeing on the appropriate effective date (which may be retroactive) of any such adjustment to the LMC Percentages and Allocated Expenses.
Allocated Expenses. Allocated Expenses for any Fiscal Year shall be apportioned among the Portfolio, the Replacement Portfolio, the Properties, the TMC Common and the TMC Preferred based on the ratio of the gross revenues from each category of assets to the total gross revenue of the Company (excluding gross revenue attributable to the Trusts Portfolio) for such Fiscal Year. Amounts so apportioned (hereinafter "Portfolio Allocated Expenses," "Replacement Portfolio Allocated Expenses," "Properties Allocated Expenses," "TMC Common Allocated Expenses," and "TMC Preferred Allocated Expenses," respectively) shall be allocated in accordance with Sections 8.1(a), 8.1(d), 8.2(a), 8.3(a) and 8.4(a), respectively, among the Members.
Allocated Expenses. Allocated Expenses for any Fiscal Year shall be apportioned among the Investment Portfolio, the UPREIT Portfolio, the Fixed Income Portfolio, the TMC Common and the TMC Preferred based on the ratio of the gross revenues from each category of assets to the total gross revenue of the Company (treating as gross revenues for this purpose the net income allocated to the Members hereunder attributable to distributions to the Company on assets in the UPREIT Portfolio and on any other assets of the Company consisting of partnership interests, and excluding gross revenue attributable to the Trusts Portfolio) for such Fiscal Year. Amounts so apportioned (hereinafter "Investment Portfolio and UPREIT Portfolio Allocated Expenses," "Fixed Income Allocated Expenses," "TMC Common Allocated Expenses," and "TMC Preferred Allocated Expenses," respectively) shall be allocated in accordance with Sections 8.1(a), 8.2(a) and 8.3(a), respectively, among the Members.
Allocated Expenses. Manager has executed an agreement with the City of Galveston to construct, manage, and operate the Galveston Island Convention Center. As a further inducement to Manager to enter into this Agreement, Manager may use Hotels’ employees and resources of the Hotels, including but not limited to equipment, vehicles, supplies, etc., in order to minimize Manager’s costs, expenses and overhead in the execution and/or performance of its duties under the terms of its agreement with the City of Galveston. Manager shall reimburse Owner for Manager’s use of Hotels’ employees and resources, including but not limited to equipment, vehicles, supplies, etc., as agreed between the parties. Manager shall account to Owner on a monthly basis for the use of such resources, if any.
Allocated Expenses. Each Subscribing Producer's allocated expense percentage shall be calculated by dividing its number of open claims as of September 30, 1983, by the aggregate of all open claims as of September 30, 1983, for all Subscribing Producers.
Allocated Expenses. 7 XII. Payment of Allocated and Unallocated Expenses Following Exhaustion of Limits . . . . . . . . . . . . . . . . . . . . . 8 XIII. Start-Up Costs of Facility . . . . . . . . . . . . . . . . . . 8 XIV.
Allocated Expenses. In addition to the expenses and Management Fee referred to in Sections 7.1 and 7.2, Owner shall be allocated its pro rata share of the Manager’s expenses relating to the Manager’s corporate departments specified on Schedule 7.3(a). In addition, Owner shall be allocated its pro rata share of the direct expenses specified on Schedule 7.3(b). Additional detail regarding Manager’s corporate departments and the additional expenses described in this Section 7.3 are specified on Schedule 7.3(c).
Allocated Expenses. 26 SECTION 8.6 OTHER TMC MEMBERS AND TRUSTS...................................................26 SECTION 8.7