OTHER EXPENSES PAID BY MANAGER AND REIMBURSED AS AN OPERATING EXPENSE OF THE PROJECT Sample Clauses

OTHER EXPENSES PAID BY MANAGER AND REIMBURSED AS AN OPERATING EXPENSE OF THE PROJECT. Manager shall promptly notify Owner in writing (each, a “Budget Excess Notice”) if the expense incurred for any line item of any major controllable expense set forth in an Approved Budget is expected to exceed the budgeted amount by more than 5% of the amount set forth in the applicable Approved Budget (each, a “Budget Excess Expense”). Upon receipt of a Budget Excess Notice, Owner shall, within ten (10) Business Days, approve or disapprove such Budget Excess Expense. Should Owner approve the Budget Excess Expense, Manager shall be reimbursed for incurring such expense on Owner’s behalf, should Owner disapprove such Budget Excess Expense, Owner shall direct Manager to take alternative steps. Notwithstanding the prior sentence, with respect to any Budget Excess Expense (other than property taxes, insurance expenses, or utility expenses) which has been incurred prior to Owner’s approval or disapproval of such Budget Excess Expense, if Manager’s incurrence of such Budget Excess Expense is not a result of Manager’s gross negligence or willful misconduct in operating the Project or otherwise performing its obligations under the Agreement, then Manager shall be reimbursed for incurring such expense on Owner’s behalf. Owner shall reimburse Manager for pre-approved out-of-town travel to the Project and certain other pre-approved property expenses only in accordance with and to the extent expressly set forth in the Approved Budget. Owner shall not reimburse Manager for in-house attorney or charges for outside legal services or expenses unless either pre-approved by Owner or set forth in the Approved Budget. All out-of- town travel expenses must comply with the policies established from time-to-time by Owner. Owner shall also pay directly from Operating Account or reimburse Manager for all reasonable, Project-related expenses, such expenses set forth in the Approved Budget, including but not limited to costs of on-site telephone systems, stationery and office supplies, on-site telephone expenses (both base charges and long- distance charges), on-site photocopying costs, and postage charges.
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Related to OTHER EXPENSES PAID BY MANAGER AND REIMBURSED AS AN OPERATING EXPENSE OF THE PROJECT

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expense Limit The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.

  • General Expenses You authorize the Manager to charge your account with your Underwriting Percentage of all expenses of a general nature incurred by the Manager and Co-Managers under the applicable AAU in connection with the Offering, including the negotiation and preparation thereof, or in connection with the purchase, carrying, marketing and sale of any securities under the applicable AAU and any Intersyndicate Agreement, including, without limitation, legal fees and expenses, transfer taxes, costs associated with approval of the Offering by the NASD and the costs of currency transactions (including forward and hedging currency transactions) entered into to facilitate settlement of the purchase of Securities permitted under Section 3.1 hereof.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Operating Expenses The Lessor shall have no obligation to provide any services, perform any acts, or pay expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises. The Lessee hereby agrees to pay one-hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term “Operating Expenses” shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Total Operating Expenses All costs and expenses paid or incurred by the Corporation, as determined under generally accepted accounting principles, that are in any way related to the operation of the Corporation or to corporate business, including Asset Management Fees and other operating fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Property, (viii) distributions made with respect to interests in the Operating Partnership, and (ix) other fees and expenses connected with the acquisition, Disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property). Notwithstanding the definition set forth above, any expense of the Corporation which is not part of Total Operating Expenses under the NASAA REIT Guidelines shall not be treated as part of Total Operating Expenses for purposes hereof.

  • Rent and Operating Expenses Section 4.1 Basic Rent Section 4.2 Operating Expenses Section 4.3

  • Expenses Paid by Manager The Manager hereby agrees to pay all expenses of the Fund, including the Fund's management and investment advisory fee and the Fund's dividend disbursing, administrative and accounting services fee (but excluding taxes and brokerage fees and commissions, if any) that exceed 1.25% of the Fund's average daily net assets on an annual basis up to the amount of the management and investment advisory fee payable by the Fund to the Manager. All other expenses shall be paid by the Fund. From time to time and subject to discontinuance at any time, the Manager may voluntarily assume certain expenses of the Fund. Organizational costs borne by the Manager to the Fund will be amortized and reimbursed to the Manager by the Fund over a 60-month period.

  • Non-Reimbursable Expenses In addition to the non-reimbursable items set forth above in this Policy, the following is a non- exhaustive list of expenses that will not be reimbursed by Williamson County: 10.1 Alcoholic beverages/tobacco products 10.2 Personal phone calls

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