Manager’s Cost to Be Reimbursed Sample Clauses

Manager’s Cost to Be Reimbursed. After payment by Manager, Manager may be reimbursed out of the Account for costs of the gross salary and wages or pro rata share thereof, federal and state unemployment taxes, social security taxes, group medical and health insurance premiums, worker’s compensation insurance, Owner’s Share of Eligible Severance Payments (as defined below) and other benefits or burdens of Manager’s employees required to properly, adequately, safely and economically manage, operate and maintain the Properties in accordance with this Agreement, provided that such employees have been identified by position and enumerated in an approved budget. As used herein: (1) an “Eligible Severance Payment” shall mean any severance payment made by Manager to any Reimbursable Staff Member (as defined below) in connection with the termination of such Reimbursable Staff Member’s employment that resulted either from Owner’s termination of this Agreement, the sale of an individual property, or Owner’s request that such Reimbursable Staff Member no longer be an on-site employee of Manager at the Property (unless such request was made for cause); (2) a “Reimbursable Staff Member” shall mean any employee of the Manager who, prior to the termination of such employee’s employment, worked as an employee of the Manager at the Property; and (3) the “Owner’s Share of Eligible Severance Payments” shall mean one hundred percent (100%) of all Eligible Severance Payments that are allocable to the Property, based on each such terminated Reimbursable Staff Member’s tenure working for Manager relative to the time such Reimbursable Staff Member worked as an on-site employee of Manager at the Property. In no event shall Manager be reimbursed by Owner for costs attributable to losses arising from negligence or fraud on the part of Manager or Manager’s employees.
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Manager’s Cost to Be Reimbursed. After payment by Manager, Manager may be reimbursed out of the Account for costs of the gross salary and wages or pro rata share thereof, federal and state unemployment taxes, social security taxes, group medical and health insurance premiums, worker’s compensation insurance, Owner’s Share of Eligible Severance Payments (as defined below) and other benefits or burdens of Manager’s employees required to properly, adequately, safely and economically manage, operate and maintain the Properties in accordance with this Agreement, provided that such employees have been identified by position and enumerated in an approved budget. As used herein: (1) an “Eligible Severance Payment” shall mean any severance payment made by Manager to any Reimbursable Staff Member (as
Sample 1

Related to Manager’s Cost to Be Reimbursed

  • Reimbursement of Travel Expenses If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

  • Expense Reimbursements To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

  • Fees, Expenses and Reimbursement (a) So long as the Administrator provides Administrative Services to the Company, it shall be entitled to receive reasonable and customary fees for such services as well as out-of-pocket expenses as may be agreed to by the Administrator and the Company pursuant to a separate written agreement.

  • Expense Reimbursement The Executive shall be entitled to receive reimbursement for all appropriate business expenses incurred by him in connection with his duties under this Agreement in accordance with the policies of the Company as in effect from time to time.

  • Expenses Reimbursement State Street shall be entitled to receive from the Fund on demand reimbursement for its cash disbursements, expenses and charges, excluding salaries and usual overhead expenses, as set forth in Schedule A.

  • Business Expense Reimbursements During the Term, the Company shall promptly reimburse Executive for Executive’s reasonable and necessary business expenses in accordance with the Company’s then-prevailing policies and procedures for expense reimbursement (which shall include appropriate itemization and substantiation of expenses incurred).

  • Reimbursement of Fee Waivers and Expense Reimbursements If on any day during which the Advisory Agreement is in effect, the estimated annualized Fund Operating Expenses of the Fund for that day are less than the Operating Expense Limit, the Adviser shall be entitled to reimbursement by a Fund of the investment advisory fees waived or reduced, and any other expense reimbursements or similar payments remitted by the Adviser to the Fund pursuant to Section 1 hereof (the “Reimbursement Amount”) within three years after the year in which the Adviser waived or reduced investment advisory fees or reimbursed expenses, to the extent that the Fund’s annualized Operating Expenses plus the amount so reimbursed equals, for such day, the Operating Expense Limit, provided that such amount paid to the Adviser will in no event exceed the total Reimbursement Amount and will not include any amounts previously reimbursed.

  • Cost Reimbursement This payment method is based on an approved budget and submission of a request for reimbursement of expenses Xxxxxxx has incurred at the time of the request;

  • Compensation and Expense Reimbursement A. Client will pay the Company, as compensation for the services provided for in this Agreement and as reimbursement for expenses incurred by Company on Client's behalf, in the manner set forth in Schedule A annexed to this Agreement which Schedule is incorporated herein by reference.

  • Managers Compensation Any or all Managers may receive such reasonable compensation for their services, whether in the form of salary or otherwise, with expenses, if any, as the Board may reasonably determine. Any such compensation and expense will be paid by the Member.

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