Excess Operating Expenses. (a) In the event that Owner incurs any Operating Expenses in excess of Approved Operating Expenses (excluding Restricted Payments and any Incentive Management Fees) (“
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (W2007 Grace Acquisition I Inc), Mezzanine Loan Agreement (American Realty Capital Hospitality Trust, Inc.)
Excess Operating Expenses. (a) In the event that Owner Borrower incurs any Operating Expenses in excess of Approved Operating Expenses (excluding any Restricted Payments and any Incentive Management Fees) (“
Appears in 2 contracts
Samples: Loan Agreement (W2007 Grace Acquisition I Inc), Loan Agreement (American Realty Capital Hospitality Trust, Inc.)