Compensation, Reimbursement, Organization Expenses. The Manager shall not be entitled to compensation from the Company for services rendered to the Company as such. Upon the submission of appropriate documentation the Manager shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred on behalf, or at the request, of the Company.
Compensation, Reimbursement, Organization Expenses. (a) The compensation of the Governors shall be fixed from time to time by the Member. Upon the submission of appropriate documentation each Governor shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Governor on behalf of the Company or at the Company’s request.
(b) The Company may reimburse any entity for the legal expenses reasonably incurred in connection with the formation, organization and capitalization of the Company, including the legal fees incurred in connection with negotiating and drafting this Operating Agreement.
(c) The Governor shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized under the sixty (60) month period beginning with the month in which the Company begins business to the extent that such expenses constitute “organizational expenses” of the Company within the meaning of Section 709(b)(2) of the Code or other applicable Section of the Code.
Compensation, Reimbursement, Organization Expenses. (a) The compensation of the Managers, if any, shall be fixed from time to time by the Management Board.
(b) The Managers shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized under the sixty (60) month period beginning with the month in which the Company begins business to the extent that such 44 expenses constitute "organizational expenses" of the Company within the meaning of Section 709(b)(2) of the Code.
Compensation, Reimbursement, Organization Expenses. (a) The compensation of the Managers shall not exceed $2000 per year, and no Manager shall be prevented from receiving such compensation by reason of the fact that he or she is also a Member. No Member shall be entitled to compensation from the Company for services rendered to the Company as a Member unless otherwise agreed to by the Company. Upon the submission of appropriate documentation, each Class A Member shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Class A Member on behalf of the Company or at the Company's request.
(b) The Company shall reimburse the Managers and Class A Members for the legal expenses reasonably incurred by them in connection with the formation, organization and capitalization of the Company, including the legal fees incurred in connection with the preparation of this Agreement and other actions in connection with the organization, operation, and liquidation of the Company.
(c) The Managers shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized over the 60-month period beginning with the month in which the Company begins business to the extent that such expenses constitute "organizational expenses" of the Company within the meaning of Code Section 709(b)(2).
Compensation, Reimbursement, Organization Expenses. (a) The compensation of the Managers shall be fixed from time to time by the Members, and no Manager shall be prevented from receiving such compensation by reason of the fact that he is also a Member. No Member shall be entitled to compensation from the Company for services rendered to the Company as such. Upon the submission of appropriate documentation each Member shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Member on behalf of the Company or at the Company's request.
(b) The Company shall reimburse the Managers and Members for the legal expenses reasonably incurred by them in connection with the formation, organization and capitalization of the Company, including the legal fees incurred in connection with the preparation of this Agreement and other actions in connection with the organization, operation, and liquidation of the Company. AUAP acknowledges that Circle G asserts that it has incurred approximately $3,320,000.00 in out-of-pocket expenses to date on behalf of the Company (excluding legal fees due to in connection with the pre-development phase of the Company). AUAP shall have the right to audit these expenses and, if they were incurred for the benefit of the Company, the Company will (i) pay up to $250,000.00 of the same contemporaneously with the acquisition of the Elvis Property and (ii) carry the balance on its books as an outstanding loan accruing interest at the rate of 7.5% per annum. This loan amount shall be repaid by the Company on a pari-passu basis with all other loans made by Members to the Company. Other than (i) expenses approved in the above-referenced audit and (ii) legal fees incurred in connection with the pre-development phase of the Company in an amount no greater than $50,000.00, Circle G shall indemnify and hold the Company harmless from and against any and all other costs, obligations or expenses incurred by Circle G in connection with the Property or allegedly on behalf of the Company.
(c) The Managers shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized over a sixty (60) month period beginning in the month in which the Company begins its business operations to the extent that such expenses constitute "organizational expenses" of the Company within the meaning of Code Section 709(b) (2).
Compensation, Reimbursement, Organization Expenses. (a) The Managers with the concurrence of Members holding at least a Majority Interest, may from time-to-time establish the compensation to be paid to the Managers and any officer, employee, or agent. Such compensation shall be paid from the Company’s revenue before the Company makes any distributions to the Members.36 No Person shall be prevented from receiving such compensation by reason of the fact that he or she is also a Member of the Company.37
(b) The Company shall reimburse its Managers, Members, and others who incur expenses on behalf of the Company as the Managers may from time-to-time authorize. It is not intended that the reimbursement of a Manager, Member or other Person result in a profit, however, reimbursement may include an overhead charge not to exceed 10% of the amount of the expenses to be reimbursed.
Compensation, Reimbursement, Organization Expenses. (a) No Manager shall be entitled to compensation from the Company for services provided to the Company as a Manager. Upon the submission of appropriate documentation each Manager shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Manager on behalf of the Company or at the Company's request.
(b) The Company shall make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized under the 60-month period beginning with the month in which the Company begins business to the extent that such expenses constitute "organizational expenses" of the Company within the meaning of Code Section 709(b)(2).
Compensation, Reimbursement, Organization Expenses. (a) Except as provided in Section 5.12(c), the Manager shall not be compensated for its services to the Company, except as approved by both Navigant and Och-Ziff Partners. Upon the submission of appropriate documentation each Member shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred on behalf, or at the request, of the Company.
(b) Upon the submission of appropriate documentation the Company shall reimburse Och-Ziff Partners and NII for their legal expenses reasonably incurred by them in connection with the formation, organization and capitalization of the Company, including the legal fees incurred in connection with negotiating and drafting this Agreement and any ancillary document; provided that such reimbursement shall not exceed $65,000 for either Och-Ziff Partners (collectively) or NII.
(c) NII shall be reimbursed for expenses it incurs in connection with shared services (including without limitation, ticket fulfillment, payroll, human resources, accounting, 24-hour services, facilities, rent, utilities, administrative costs, and third party expenses). Such reimbursement shall be on a per transaction, per call, per person or other reasonable basis, provided that the terms of any such reimbursement are not less favorable to the Company than could be obtained from an unrelated party.
(d) The Manager shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized under the 60-month period beginning with the month in which the Company begins business to the extent that such expenses constitute "organizational expenses" of the Company within the meaning of Code Section 709(b)(2).
Compensation, Reimbursement, Organization Expenses. No Manager or Member shall be entitled to compensation from the Company for services rendered to the Company as such. Upon the submission of appropriate documentation each Member shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Member on behalf of the Company or at the Company's request. [Notwithstanding the foregoing sentence, it is agreed that the Company shall reimburse Xxxxxxxx for closing expenses in the approximate amount of $___________ and shall pay Xxxxxxxx a bonus in the amount of $______________.]
Compensation, Reimbursement, Organization Expenses. (a) The compensation of the Governors shall be fixed from time to time by the affirmative vote of the Member(s) holding at least a Majority Interest. Upon the submission of appropriate documentation each Governor shall be reimbursed by the Company for reasonable out-of-pocket expenses incurred by such Governor on behalf of the Company or at the Company’s request.
(b) The Company may reimburse any entity for the legal expenses reasonably incurred in connection with the formation, organization and capitalization of the Company, including the legal fees incurred in connection with negotiating and drafting this Operating Agreement.
(c) The Governor shall cause the Company to make an appropriate election to treat the expenses incurred by the Company in connection with the formation and organization of the Company to be amortized under the sixty (60) month period beginning with the month in which the Company begins business to the extent that such expenses constitute “organizational expenses” of the Company within the meaning of Section 709(b)(2) or other applicable Section of the Code.
