Limitation on Expenses. (a) If Operating Expenses under this Agreement and the Management Agreement during the 12-month period ending on the last day of any fiscal quarter of CPA: 16 exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of CPA: 16 during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and neither the Operating LLC nor CPA: 16 shall be liable for payment therefor. CPA: 16 may defer the payment or distribution to the Advisor and the Special General Partner of fees, expenses and distributions that would, if paid or distributed, cause Operating Expenses during such 12-month period to exceed the foregoing limitations; provided, however, that in determining which items shall be paid and which may be deferred, priority will be given to the payment of distributions to the Special General Partner over the payment to the Advisor of amounts due under this Agreement.
Limitation on Expenses. (a) Within 60 days after the end of any fiscal quarter, if Operating Expenses of the Company during the 12-month period ending with the last month of such quarter exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of the Company during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and the Company shall not be liable for payment therefor.
Limitation on Expenses. (a) If Operating Expenses of the Company during the 12-month period ending on the last day of any fiscal quarter of the Company exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of the Company during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and the Company shall not be liable for payment therefor.
Limitation on Expenses. (a) If Operating Expenses during the 12-month period ending on the last day of any fiscal quarter of CPA: 17 exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of CPA: 17 during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Advisor and neither the Operating Partnership nor CPA: 17 shall be liable for payment therefor. CPA: 17 may defer the payment or distribution to the Advisor and the Special General Partner of fees, expenses and distributions that would, if paid or distributed, cause Operating Expenses during such 12-month period to exceed the foregoing limitations; provided, however, that in determining which items shall be paid and which may be deferred, priority will be given to the payment of distributions to the Special General Partner over the payment to the Advisor of amounts due under this Agreement.
Limitation on Expenses. Contractor shall not invoice the JBE, and the JBE shall not reimburse Contractor, for expenses of any type that exceed in the aggregate during the term of any Statement of Work the amount of $ .
Limitation on Expenses. (a) If the aggregate Operating Expenses of the Company under this Agreement and the Advisory Agreement during the 12-month period ending on the last day of any fiscal quarter of the Company exceed the greater of (i) two percent of the Average Invested Assets during the same 12-month period or (ii) 25% of the Adjusted Net Income of the Company during the same 12-month period, then subject to paragraph (b) of this Section 13, such excess amount shall be the sole responsibility of the Manager and the Company shall not be liable for payment therefor.
Limitation on Expenses. (a) Subsection 13(a) of the Advisory Agreement shall be amended and restated in its entirety as follows:
Limitation on Expenses. The Company shall not incur Actual Transaction Expenses in excess of the amount set forth on Schedule 3.19 of the Company Disclosure Schedule, without the prior written consent of Parent.
Limitation on Expenses. Contractor shall not invoice the Judicial Council, and the Judicial Council shall not reimburse Contractor, for expenses of any type that are not authorized under this Agreement.
Limitation on Expenses. The indemnification obligations of the Borrower pursuant to this Section 10.6 shall be, in the case of any expenses and reimbursement obligations incurred by the Secured Parties Representative, limited to the reasonable out-of-pocket expenses (including reasonable out-of-pocket fees and expenses of legal counsel) so incurred.
