Common use of Limitations on Reimbursement of Expenses Clause in Contracts

Limitations on Reimbursement of Expenses. Excluded from the allowable reimbursement hereunder shall be: (i) Overhead, rent or depreciation, utilities, capital equipment, and other administrative items of the Manager; and (ii) salaries, fringe benefits and other administrative items incurred or allocated to any executive officer or board member of the Manager or the Sub-Manager (or any individual performing such services), any executive officer or board member of the Company who is also an executive officer, board member of employee of the Manager or the Sub-Manager, or a holder of 10% or greater equity interest in the Manager or the Sub-Manager (or any person having the power to direct or cause the direction of the Manager or the Sub-Manager, whether by ownership of voting securities, by contract or otherwise).