Description of Related Party Transactions Sample Clauses

Description of Related Party Transactions. The Company rents an office building owned by Shoppers Drive, LLC (SD). SD is owned by the Company shareholders. The shareholders have effective control over SD’s operating and financial policies. SD incurred $46,381 of expenses to maintain the building. The Company occupied 92% of the total building. Additionally, SD’s Facilities Capital Cost of Money (FCCM) for the building was $33,580 for the year. The rent expense recorded in the Company’s financial records includes $339,090 in payments to SD. from the indirect cost schedule, as follows: The Company excluded $265,526 of the rent expense SD’s allowable cost of ownership for the property: Total expenses $46,381 Plus: Facilities Capital Cost of Money $33,580 Equals: Cost of Ownership $79,961 Multiplied by: Allocation Factor 92% Equals: Cost of Ownership $ 73,564 Company’s adjustment for costs in excess of allowable cost of ownership: Additionally, the Company rents an office building owned by Stony Spring Circle, LLC (SSC). SSC is owned by the Company shareholders. The shareholders have effective control over SSC’s operating and financial policies. SSC incurred $43,852 of expenses to maintain the building. The Company occupied 100% of the total building. Additionally, SD’s Facilities Capital Cost of Money (FCCM) for the building was $7,282 for the year. The rent expense recorded in the Company’s financial records includes $67,432 in payments to SSC. The Company excluded $16,298 of the rent expense from the indirect cost schedule, as follows: SSC’s allowable cost of ownership for the property: Total expenses $43,852 Plus: Facilities Capital Cost of Money $ 7,282 Equals: Cost of Ownership $51,134 Multiplied by: Allocation Factor 100% Equals: Cost of Ownership $51,134 Company’s adjustment for costs in excess of allowable cost of ownership: Additionally, the Company rents an office building owned by 0000 Xxxxx Xxxxx, LLC (EP). EP is owned by the Company shareholders. The shareholders have effective control over EP’s operating and financial policies. EP incurred $17,333 of expenses to maintain the building. The Company occupied 100% of the total building. Additionally, EP’s Facilities Capital Cost of Money (FCCM) for the building was $12,271 for the year. The rent expense recorded in the Company’s financial records includes $67,908 in payments to EP. The Company excluded $38,304 of the rent expense from the indirect cost schedule, as follows: EP’s allowable cost of ownership for the property: Total expenses $1...
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Related to Description of Related Party Transactions

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Entire Agreement This DPA and the Service Agreement constitute the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior communications, representations, or agreements, oral or written, by the Parties relating thereto. This DPA may be amended and the observance of any provision of this DPA may be waived (either generally or in any particular instance and either retroactively or prospectively) only with the signed written consent of both Parties. Neither failure nor delay on the part of any Party in exercising any right, power, or privilege hereunder shall operate as a waiver of such right, nor shall any single or partial exercise of any such right, power, or privilege preclude any further exercise thereof or the exercise of any other right, power, or privilege.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Definitions As used in this Agreement:

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.

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