Organization Expense Sample Clauses

The Organization Expense clause defines which costs related to forming and setting up a company or entity will be covered and by whom. Typically, this clause outlines expenses such as legal fees, registration charges, and administrative costs incurred during the initial organization phase, and specifies whether these are paid by the company, its founders, or another party. Its core function is to allocate responsibility for these startup costs, ensuring clarity and preventing disputes over who bears the financial burden of establishing the organization.
Organization Expense. The Partnership shall elect to deduct expenses incurred in organizing the Partnership ratably over a 60-month period as provided in Section 709 of the Code.
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Organization Expense. The parties specifically recognize that LHMI and its Affiliates have incurred legal fees, filing fees, and other out-of-pocket costs for the benefit of Owner, including costs connected with the preparation of applicable agreements, securities law and health care law compliance documentation and filings, fees and expenses of lobbyists, real estate acquisition matters (if any) and formation and registration of Owner (collectively, the "Organization Expenses"), and agree that LHMI shall be reimbursed fully for these amounts. Because LHMI and its Affiliates are receiving some benefits from the legal services provided under this Section 5.4-1 in connection with the preparation of this Agreement, and the Operating Agreement, the Right of First Refusal Agreement, and the Hospital Professional Services Agreement executed by the parties substantially contemporaneously with this Agreement (collectively, the "Definitive Documents"), in addition to those benefits received by Owner, the parties agree that LHMI shall be entitled to be reimbursed by Owner only for seventy-five percent (75%) of the legal fees incurred in the preparation of the Definitive Documents, not to exceed $50,000.
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Related to Organization Expense

  • Organization Expenses All expenses incurred in connection with organization of the Company will be paid by the Company.

  • Organizational Expenses The Partnership shall elect to deduct expenses, if any, incurred by it in organizing the Partnership ratably over a sixty (60) month period as provided in Section 709 of the Code.

  • Transaction Expenses Whether or not the transactions contemplated hereby are consummated, the Company will pay (and indemnify the Purchasers for) all costs and expenses (including reasonable attorneys’ fees of a single special counsel hired by the Purchasers and, if reasonably required by the Required Holders, local or other counsel) incurred by the Purchasers, and each other holder of a Bond in connection with such transactions (including in connection with the filing or recordation of all financing statements and instruments as may be required by the Purchasers or the Trustee in connection with this Agreement or any Bond Document, or any amendment thereto, including, without limitation, all documentary stamps, recordation and transfer taxes and other costs and taxes incident to recordation of any document or instrument in connection herewith) and in connection with any amendments, waivers or consents under or in respect of this Agreement or the Bonds (whether or not such amendment, waiver or consent becomes effective), including: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement, the other Bond Documents or the Bonds or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement, the other Bonds Documents or the Bonds, or by reason of being a holder of any Bond, (b) the costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Bonds and (c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO provided, that such costs and expenses under this clause (c) shall not exceed $3,500. If required by the NAIC, the Company shall obtain and maintain at its own cost and expense a Legal Entity Identifier (LEI). The Company will pay, and will save each Purchaser harmless from, all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than those retained by the Purchasers). The Company agrees to save harmless and indemnify each Purchaser from and against any liability resulting from the failure to reimburse such Purchaser for any required documentary stamps, recordation and transfer taxes, recording costs, or any other expenses incurred by such Purchaser in connection with this Agreement which are required by the terms of this Agreement to be paid or reimbursed by the Company.

  • Acquisition Expenses Any and all expenses incurred by the Company, the Advisor, or any Affiliate of either in connection with the selection, acquisition or development of any Asset, whether or not acquired, including, without limitation, legal fees and expenses, travel and communications expenses, costs of appraisals, nonrefundable option payments on property not acquired, accounting fees and expenses, and title insurance premiums.

  • Relocation Expenses ‌ 9.5.1 Relocation expenses shall be paid when a kaimahi normal place of work is moved to a location out of the local area and the kaimahi elects to relocate within 12 months of the change of workplace. 9.5.2 Kaimahi shall be paid actual and reasonable costs of relocation, such costs to include: a) provision of temporary accommodation pending acquisition of permanent accommodation, for up to three months. b) packing, freight and storage of furniture and personal effects. c) travel costs for the kaimahi immediate family and other dependent members of the household. d) legal fees and land agents’ commission in respect of both the sale of a home at the former location and the purchase of a home at the new location (home shall include land purchased for the purpose of building a house). e) any penalty attached to the early repayment of the mortgage. 9.5.3 Where relocation expenses are paid the maximum payment shall be $25,000. 9.5.4 In any case other than specified in sub-clause (a) a payment towards relocation expenses may be made by agreement at the time of making the appointment. 9.5.5 Clause 9.5.3 does not apply to kaimahi based at the former Otago division whose provisions are laid out in the applicable schedule; or to TOPNZ who have no entitlement to relocation expenses.