Expense Reimbursement to the Manager. Costs and expenses incurred by the Manager on behalf of the REIT or its subsidiaries shall be reimbursed in cash monthly to the Manager within five (5) Business Days of receipt by the REIT from the Manager of a statement of such costs and expenses. Cost and expense reimbursement to the Manager shall be subject to adjustment at the end of each calendar year in connection with the annual audit of the REIT.
Expense Reimbursement to the Manager. Costs and expenses incurred by the Manager on behalf of the Fund or its subsidiaries shall be reimbursed in cash monthly to the Manager within five (5) Business Days of receipt by the Fund from the Manager of a statement of such costs and expenses. Cost and expense reimbursement to the Manager shall be subject to adjustment at the end of each calendar year in connection with the annual audit of the Fund.
Expense Reimbursement to the Manager. Expenses incurred by the Manager on behalf of the Company shall be reimbursed monthly to the Manager within 30 days after the end of each month. The Manager shall prepare a statement documenting the expenses of the Company and those incurred by the Manager on behalf of the Company during each month, and shall deliver such statement to the Company within 15 days after the end of each month.
Expense Reimbursement to the Manager. Costs and expenses incurred by the Manager on behalf of the Company or its subsidiaries shall be reimbursed monthly to the Manager or, at the Manager’s election, offset against any funds of the Company in the Company’s account or accounts held by the Manager or otherwise; provided, however, that any such offset rights of the Manager may be revoked in whole or in part from time to time by the Company upon written notice to the Manager; and provided, further, that material costs and expenses incurred by the Manager shall only be reimbursable by the Company to the Manager hereunder if (i) approved by the Board of Directors, or by the Chief Financial Officer of the Company or any other authorized officer of the Company, or (ii) included within a budget adopted by the Board of Directors (either as a particular line item or within a reasonably specific category of budgeted expense). With respect to any approval of the Board of Directors pursuant to the preceding sentence, the Company shall not be required to reimburse any costs or expenses of the Manager unless the Manager has specifically disclosed to the Board of Directors in connection with any such request for pre-approval whether any costs and expenses that are the subject of the request for pre-approval are allocated between the Company, on the one hand, and the Manager’s other clients, on the other hand, and provided such information as the Board of Directors may reasonably request to determine the reasonableness of the Company’s allocable share of those costs and expenses. The Manager shall prepare a written statement in reasonable detail documenting the costs and expenses of the Company and those incurred by the Manager on behalf of the Company during each month, and shall deliver such written statement to the Company within fifteen (15) days after the end of each month. Unless deducted directly by the Manager as aforesaid, the Company shall pay all amounts payable to the Manager pursuant to this Section 7.3 within ten (10) days after the receipt of the written statement without demand, deduction, offset or delay. Cost and expense reimbursement to the Manager shall be subject to adjustment at the end of each calendar year in connection with the annual audit of the Company.
Expense Reimbursement to the Manager. Expenses incurred by the Manager on behalf of the Company shall be reimbursed monthly to the Manager within thirty (30) days after the end of each month. The Manager shall prepare a statement documenting the expenses of the Company and those incurred by the Manager on behalf of the Company during each month, and shall deliver such statement to the Company within fifteen (15) days after the end of the month to which the expenses relate. Expense reimbursement to the Manager shall be subject to adjustment at the end of each fiscal year in connection with the annual audit of the Company. Any amount that may become payable by the Manager pursuant to such an annual adjustment shall be offset against future Management Compensation amounts payable to the Manager pursuant to Section 6 hereof.
Expense Reimbursement to the Manager. Any individual cost or expense exceeding One Hundred Thousand ($100,000) (or such other limit as may be approved by the Board of Directors from time to time) shall be approved by the Board of Directors, unless such item was previously reflected in the Company’s budget approved by the Board of Directors. Costs and expenses incurred by the Manager on behalf of the Company shall be reimbursed monthly to the Manager or, at the Manager’s election, offset against any funds of the Company in the Company’s account or accounts held by the Manager or otherwise. The Manager shall prepare a written statement in reasonable detail documenting the costs and expenses of the Company and those incurred by the Manager on behalf of the Company during each month, and shall deliver such written statement to the Company within fifteen (15) days after the end of each month. Unless deducted directly by the Manager as aforesaid, the Company shall pay all amounts payable to the Manager pursuant to this Section 7.3 within three (3) days after the receipt of the written statement without demand, deduction, offset or delay. Cost and expense reimbursement to the Manager shall be subject to adjustment at the end of each calendar year in connection with the annual audit of the Company.
Expense Reimbursement to the Manager
