Common use of Cost and Expense Clause in Contracts

Cost and Expense. A. Insurance premiums and any costs or expenses with respect to the insurance described in Section 12.01 shall be Operating Expenses in determining Operating Profit. B. Upon Termination of this Agreement, an escrow fund in an amount reasonably acceptable to Management Company shall be established from Gross Revenues (or, if Gross Revenues are not sufficient, with funds provided by TRS) to cover the amount of any costs which will eventually have to be paid by either TRS or Management Company with respect to insurance premiums, if any, not fully billed and paid for prior to Termination and pending or contingent claims, including those which arise after such Termination for causes arising during the Term of this Agreement. Upon the final disposition of all such pending or contingent claims, any unexpended funds remaining in such escrow shall be paid to TRS.

Cost and Expense. A. Insurance premiums and any costs or expenses with respect to the insurance described in Section 12.01 shall be Operating Expenses treated as Deductions in determining Operating Profit. B. Upon Termination of this Agreement, an escrow fund in an amount reasonably acceptable to Management Company shall be established from Gross Revenues (or, if Gross Revenues are not sufficient, with funds provided by TRSOwner) to cover the amount of any costs which will eventually have to be paid by either TRS Owner or Management Company with respect to insurance premiums, if any, not fully billed and paid for prior to Termination and pending or contingent claims, including those which arise after such Termination for causes arising during the Term of this Agreement. Upon the final disposition of all such pending or contingent claims, any unexpended funds remaining in such escrow shall be paid to TRSOwner.

Cost and Expense. A. Insurance premiums and any costs or expenses with respect to the insurance described in Section 12.01 shall be Operating Expenses treated as Deductions in determining Operating Profit. B. Upon Termination of this Agreement, an escrow fund in an amount reasonably acceptable to Management Company shall be established from Gross Revenues (or, if Gross Revenues are not sufficient, with funds provided by TRSOwner) to cover the amount of any costs which will eventually have to be paid by either TRS Owner or Management Company with respect to insurance premiums, if any, not fully billed and paid for prior to Termination and pending or contingent claims, including those which arise after such Termination for causes arising during the Term term of this Agreement. Upon the final disposition of all such pending or contingent claims, any unexpended funds remaining in such escrow shall be paid to TRSOwner.