Common use of Expenses to be Borne by Agent Clause in Contracts

Expenses to be Borne by Agent. Unless otherwise provided in the Approved Operating Budget or Section 4.01(b) below, expenses incurred in rendering all overall supervisory, management and recordkeeping and other services to be rendered by Agent in connection with the operations of the Property shall be borne by Agent and not charged to Owner. Without limiting the generality of the foregoing provisions of this section, the following expenses and costs incurred by and/or on behalf of Agent shall be at the sole cost and expense of Agent and shall not be reimbursed by Owner: (a) All costs of gross salary and wages, payroll taxes, insurance, workmen’s compensation and other costs of Agent’s corporate office and executive personnel (other than full time or part time personnel whose positions and salaries are specifically authorized in the Approved Operating Budget); (b) All costs incurred as a result of Agent’s breach of this Agreement, and/or the negligence and/or willful misconduct of Agent and/or any one or more of its Affiliates, employees, independent contractors, agents and/or other representatives; (c) Unless otherwise provided in the Approved Operating Budget, all costs of forms, accounting materials, administrative materials, papers, ledgers and other supplies and equipment used in Agent’s corporate office, all costs of Agent’s data processing equipment located at Agent’s corporate office and all costs of data processing provided by computer service companies to Agent’s corporate office; (d) All costs of bonuses, incentive compensation, profit sharing or any pay advances to employees employed by Agent in connection with the operation and management of the Property, except for payments to individuals specifically set forth in the Approved Operating Budget or otherwise approved in writing by Owner in advance; (e) All costs of automobile purchases and/or rentals, unless provided for in the Approved Operating Budget or Approved Capital Budget or the automobile is being provided by Owner; (f) All costs of comprehensive crime insurance purchased by Agent for its own account; (g) All costs of meals, travel and hotel accommodations for Agent’s home or regional office personnel who travel to and from the Property, unless expressly authorized by Owner; and (h) Unless otherwise provided in the Approved Operating Budget, all costs (exclusive of fees that are directly property related, e.g., registration fee) of obtaining and maintaining such licenses, permits, consents and authorizations.

Expenses to be Borne by Agent. Unless otherwise provided in the Approved Operating Budget or Section 4.01(b) below, expenses incurred in rendering all overall supervisory, management and recordkeeping and other services to be rendered by Agent in connection with the operations of the Property shall be borne by Agent and not charged to Owner. Without limiting the generality of the foregoing provisions of this section, the following expenses and costs incurred by and/or on behalf of Agent shall be at the sole cost and expense of Agent and shall not be reimbursed by Owner: (a) All costs of gross salary and wages, payroll taxes, insurance, workmen’s 's compensation and other costs of Agent’s 's corporate office and executive personnel (other than full time or part time personnel whose positions and salaries are specifically authorized in the Approved Operating Budget); (b) All costs incurred as a result of Agent’s 's breach of this Agreement, and/or the negligence and/or willful misconduct of Agent and/or any one or more of its Affiliates, employees, independent contractors, agents and/or other representatives; (c) Unless otherwise provided in the Approved Operating Budget, all costs of forms, accounting materials, administrative materials, papers, ledgers and other supplies and equipment used in Agent’s 's corporate office, all costs of Agent’s 's data processing equipment located at Agent’s 's corporate office and all costs of data processing provided by computer service companies to Agent’s 's corporate office; (d) All costs of bonuses, incentive compensation, profit sharing or any pay advances to employees employed by Agent in connection with the operation and management of the Property, except for payments to individuals specifically set forth in the Approved Operating Budget or otherwise approved in writing by Owner in advance;; and (e) All costs of automobile purchases and/or rentals, unless provided for in the Approved Operating Budget or Approved Capital Budget or the automobile is being provided by Owner; (f) All costs of comprehensive crime insurance purchased by Agent for its own account; (g) All costs of meals, travel and hotel accommodations for Agent’s home or regional office personnel who travel to and from the Property, unless expressly authorized by Owner; and (h) Unless otherwise provided in the Approved Operating Budget, all costs (exclusive of fees that are directly property related, e.g., registration fee) of obtaining and maintaining such licenses, permits, consents and authorizations.