General and Administrative Costs. The Borrower shall ensure that the payment of all the general and administrative costs of the Borrower and the Owners in connection with the ownership and operation of the Ships (including, without limitation, the payment of the management fees pursuant to the Management Agreements) shall be fully subordinated to the payment obligations of the Borrower and the Owners under this Agreement and the other Finance Documents throughout the Security Period.
General and Administrative Costs. The costs described in Clause 2.9(c).
General and Administrative Costs. The costs described in Section 2.6.1 and the charge described in Section 2.6.2 of this Accounting Procedure.
General and Administrative Costs. General and Administrative Costs include those that have been incurred for the general operation and administration of the Corporation, and other expenses of a general character, including but not limited to Costs relating to: administrative offices that serve the Corporation; Corporation-wide financial management, business services, budget and planning, and personnel management; operations of the Corporation’s central management information systems; general management of the Corporation, such as strategic direction and member affairs, Board functions, accounting, procurement, and legal services; operation and maintenance expense; depreciation and use allowances; and interest costs. General and Administrative Costs do not include Costs that relate solely to, or are incurred by, the Corporation for CPA Member Services or as a result of any specific Project or Project Contract. The intent of the Members is to ensure that all Costs incurred by the Corporation that are directly related to CPA Member Services will only be paid by the Members receiving such services or for any specific Project will be paid only by the Project Participants of that specific Project. As such, when an activity or cost generally included within the General and Administrative Cost category benefits CPA Member Services, a specific Project or Project Contract, or is performed or budgeted for a specific Project or Project Contract, an appropriate adjustment shall be made to assure that the proper portion of the Cost of such activity is categorized and allocated as CPA Member Services costs to a Member receiving such service, or as a Direct Project Cost to the Project Participants, subject to Cost allocation under the applicable Project Contract. The Members intend that all Costs of the Corporation that are not directly assigned for recovery to CPA Member Services, a specific Project or Project Contract will be recovered as General and Administrative Costs.
General and Administrative Costs. General and Administrative Costs are expenditures incurred on general administration and management primarily and principally related to Petroleum Operations in or in connection with the Contract Area, and shall include:
2.6.1 main office, field office and general administrative expenditures in Bangladesh including supervisory, accounting and employee relations services;
2.6.2 an annual overhead charge for services rendered by the parent company or an Affiliate to support and manage Petroleum Operations under this Contract, and for staff advice and assistance including financial, legal, accounting and employee relations services, but excluding any remuneration for services charged separately under this Accounting Procedure, provided that:-
(i) for the period from the Effective Date until the date on which the first Development Plan under this Contract is approved by the Government, this annual charge shall be the Contractor’s verifiable expenditure but shall in no event be greater than the following percentages of the total Yearly Expenditure incurred during the Contract Year in or in connection with the Contract Area and qualifying for recovery pursuant to Section 3 herein: Yearly Expenditure in any Contract year (in million US$) Annual overhead charge over 5 1% of Yearly Expenditure in excess of US$ 5 million
(ii) from the date on which the first Development Plan is approved, the charge shall be at an amount or rate to be agreed on between the Parties and stated in the Development Plan.
2.6.3 All General and Administrative Costs shall be regularly allocated as specified in Sections 2.2.5, 2.3.5 and 2.4 to Exploration Costs, Development Costs and Production Costs respectively, and shall be separately shown under each of these cost categories.
General and Administrative Costs. Costs described in Article V, Section 4 are incurred for the common objectives of all Members of the Corporation, and are not incurred specifically in connection with a particular Project, Project Contract, or Member Service and shall be allocated to, and recovered from, each Member on a pro rata basis in accordance with the following formula: Member CPA’s Annual Retail Electricity Load divided by all Member CPAs’ Annual Retail Electricity Load; and
General and Administrative Costs. Royalty, License fee, surface rentals etc.
General and Administrative Costs a) Each Member will be allocated General and Administrative Costs on a pro rata basis in accordance with the following formula: Member CPA’s Annual Retail Electricity Load divided by all Member CPAs’ Annual Retail Electricity Load.
General and Administrative Costs. The costs described in sub-section 2.5(a) and the charge described in sub- section 2.5(b).
General and Administrative Costs are costs incurred for the common objectives of all CPCNH Members that are not incurred specifically in connection with a particular Project, Project Contract, or Member Service. Typical costs in this category, which may be fully or partially defined as General and Administrative Costs, include:
a) Administrative offices.
b) CPCNH-wide financial management.
c) Business services.
d) Budget and planning.
e) Personnel management.
f) Central management information systems and operations.
g) General management of CPCNH, such as for strategic direction and Member affairs, Board functions, accounting, procurement, and legal services; operation and maintenance expense; depreciation and use allowances; and interest costs.
