Organization Costs Clause Samples
The Organization Costs clause defines which expenses related to the formation and setup of an entity or project will be covered and by whom. Typically, this clause outlines the types of costs considered as organizational, such as legal fees, registration charges, and initial administrative expenses, and specifies whether these costs are reimbursed or borne by a particular party. Its core function is to allocate responsibility for these initial expenses, ensuring clarity and preventing disputes over who pays for the costs of getting the organization up and running.
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Organization Costs. For salaries, provide copies of certified timesheets with employee and supervisor signature documenting hours worked and proof employee was paid (paystubs, earning statements, and payroll expenditure reports), Expense items need to have copies of invoices, receipts and cancelled checks, credit card statements, bank statements for proof of payment. All documentation for reimbursement amounts must be clearly visible and defined (i.e., highlighted, underlined, and/or circled on the required supporting documentation).
Organization Costs. The Company shall be responsible and pay for all fees, expenses and costs incurred in establishing and forming the Company, including, but not limited to, organizational fees, legal fees and accounting fees.
Organization Costs. The Company has adopted the provisions of AICPA Statement of Position 98-5, "Reporting on the Costs of Start-Up Activities" whereby all organization and initial costs incurred with the incorporation and initial capitalization of the Company were charged to operations as incurred.
Organization Costs. All legal fees, other fees, costs and expenses incurred by or on behalf of the Company in connection with the Channahon Facility as well as any initial marketing and management expenses in connection therewith, including reasonable travel and entertainment expenses and accounting and other costs and expenses incident thereto, except legal fees and expenses of the individual Shareholders, whenever incurred shall be paid the Company.
Organization Costs. Each Member shall pay its own costs and expenses (including without limitation legal fees and, if applicable, the fees of the Special Consultant) incurred by such Member in connection with the formation of the Company and the negotiation and documentation of this Agreement and any of the TPG Services Agreements. However, each Member shall be reimbursed for any reasonable out-of-pocket costs and expenses actually incurred in connection with the business and affairs of the Company to the extent provided for in the applicable Project Budget or then applicable Annual Budget.
Organization Costs. (a) The Partnership from time to time shall pay directly or shall reimburse the General Partner and the Limited Partners for any payment by them of the following fees and expenses in connection with the acquisition of the Properties and the organization of the Partnership ("ORGANIZATION COSTS"): (i) all reasonable fees and expenses incurred by them (including fees for outside legal services) in connection with the preparation and filing of all certificates, opinions and documents required pursuant to Sections 1.2 and 1.6, (ii) all reasonable fees and expenses of legal counsel to the General Partner and other third parties retained by the General Partner in connection with the negotiation, preparation and execution of this Agreement and all related documents, (iii) all fees and expenses incurred by the Limited Partners in obtaining reports of outside consultants and advisors relating to the determination of appropriate insurance coverage for the Partnership, (iv) all fees and expenses of engineers and other outside consultants retained by the Limited Partners in connection with their decision to enter into this Agreement, (v) all reasonable fees and expenses of legal counsel to the Limited Partners in connection with the negotiation, preparation and execution of this Agreement and all related documents, (vi) all reasonable fees and expenses of legal counsel to the Limited Partners in connection with the Limited Partners' consideration of any waiver of their rights under this Agreement or any proposed amendment or supplement to Agreement and (vii) that certain PLACEMENT FEE (as herein called) in the amount of $50,000 due and owing to EnCap Investments L.C. by the General Partner.
(b) The Partnership from time to time shall pay directly or shall reimburse the General Partner and the Limited Partners for any payment by them of the following fees and expenses (the "TAYL▇▇ ▇▇▇NDMENT COSTS"): (i) all reasonable fees and expenses of Netherland Sewe▇▇ & ▇ssociates,Inc. in connection with the evaluation of the Tayl▇▇ ▇▇▇perties, (ii) all reasonable fees and expenses of the environmental consultant retained by the General Partner in connection with the environmental review of the Tayl▇▇ ▇▇▇perties, (iii) all reasonable fees and expenses of legal counsel to the General Partner in connection with the negotiation, preparation and execution of this Agreement and all related documents, (iv) all fees and expenses of engineers and other outside consultants retained by the L...
Organization Costs. The Partnership from time to time shall pay directly or shall reimburse the General Partner and the Limited Partners for any payment by them of the following fees and expenses in connection with the organization of the Partnership ("ORGANIZATION COSTS"): (a) all reasonable fees and expenses incurred by them (including fees for outside legal services) in connection with the preparation and filing of all certificates, opinions and documents required pursuant to SECTIONS 1.2 and 1.6, (b) all reasonable fees and expenses incurred by the Limited Partners in obtaining reports of outside consultants and advisors relating to the determination of appropriate insurance coverage for the Partnership, (c) all reasonable fees and expenses of engineers and other outside consultants retained by the Limited Partners in connection with their decision to enter into this Agreement, (d) all reasonable fees and expenses of legal counsel to the Limited Partners in connection with (i) the negotiation, preparation and execution of this Agreement and all related documents and (ii) the review of title and the transfer of the Subject Properties to the Partnership, (e) all reasonable fees and expenses of legal counsel to the Limited Partners in connection with the Limited Partners' consideration of any waiver of their rights under this Agreement or any proposed amendment or supplement to this Agreement and (f) that certain PLACEMENT FEE (as herein called) in the amount of $100,000 due and owing to EnCap Investments L.C. by the General Partner.