Overhead and Profit The percentage for overhead and profit to be used in calculating additive changes in the Work (not including changes covered by unit prices) shall not exceed the percentages for each category listed below. Said percentages for overhead and profit shall be applied only on the net cost of the changed Work, (i.e., the difference in cost between original and revised Work).
Budget 1. The Grantee budget for grant activities for the 2022 Summer Program and State fiscal year 2023 is $494,864. Any funds received under this grant will not be used to supplant funds normally budgeted for programs or service of the same or similar type.
Closing Costs and Prorations Taxes and assessments for the current year, if any, shall be prorated between the prior owner of the Personal Property and Buyer as of the date of closing. Seller shall pay one-half (½) of Closing Agent’s closing and escrow fees. Buyer shall pay one-half (½) of Closing Agent’s closing and escrow fees. In addition, Buyer shall pay all other closing costs, including but not limited to: (1) recording fees for the cost of recording the State Deed; (2) the cost for any title insurance purchased at Buyer’s option; (3) lender fees, if any, together with all associated recording fees, if any; and (4) any other cost, fee, or expense which may be reasonably required in order for the transaction to close.
Annual Budget Prior to the date hereof, Borrower has submitted and Lender has approved an Annual Budget for the 2015 calendar year (the “Approved Initial Budget”). Borrower shall submit to Lender by November 1 of each year the Annual Budget relating to the Properties for the succeeding Fiscal Year. During the continuance of a Trigger Period, Lender shall have the right to approve each Annual Budget (which approval shall not be unreasonably conditioned, delayed or withheld so long as no Event of Default is continuing). An Annual Budget approved by Lender during a Trigger Period or any Annual Budget submitted prior to the commencement of a Trigger Period, shall each hereinafter be referred to as an “Approved Annual Budget”. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.3(a). If Lender has the right to approve an Annual Budget pursuant to this Section 6.8.3, neither Borrower nor Manager shall change or modify the Annual Budget that has been approved by Lender without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed so long as no Event of Default is continuing). The “Monthly Budgeted Amount” for each Monthly Payment Date shall mean the monthly amount set forth in the Approved Annual Budget for Operating Expenses and Capital Expenditures for the Interest Period related to such Monthly Payment Date. If during any Trigger Period, Borrower has submitted an Annual Budget and such Annual Budget has not been approved prior to the commencement of the calendar year to which such budget relates then the previous Approved Annual Budget shall continue to be deemed to be the Approved Annual Budget for that calendar year, except that the line item for Capital Expenditures shall not exceed the Capital Expenditures set forth in the Approved Initial Budget.
Operating Costs The Assuming Institution agrees, during its period of use of any Leased Data Management Equipment, to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of any existing Leased Data Management Equipment leases entered into by the Failed Bank, including without limitation the timely payment of all rent, taxes, fees, charges, maintenance, utilities, insurance and assessments.
Depreciation The Company treats Memorabilia and Collectibles assets as collectible and therefore will not depreciate or amortize the SERIES #LonzoBallUCLAJersey going forward. Schedules to Twelfth Amendment to Limited Liability Company Agreement – Collectable Sports Assets, LLC – Page 125 of 205 Schedule XLVI to Twelfth Amendment to Collectable Sports Assets, LLC Amended and Restated Limited Liability Company Agreement Series Designation of #EMBIIDFIRST50POINTGAMEJERSEY, a series of Collectable Sports Assets, LLC Capitalized terms used but not defined herein have the meanings assigned to such terms in the Limited Liability Company Agreement of Collectable Sports Assets, LLC, as in effect as of the effective date set forth below (the “Agreement”). References to Sections and Articles set forth herein are references to Sections and Articles of the Agreement. Name of Series #EMBIIDFIRST50POINTGAMEJERSEY, a series of Collectable Sports Assets, LLC, a Delaware limited liability company Date of establishment June 28, 2021 Managing Member CS Asset Manager, LLC, a Delaware limited liability company, is appointed as the Managing Member of #EMBIIDFIRST50POINTGAMEJERSEY with effect from the effective date hereof and shall continue to act as the Managing Member of #EMBIIDFIRST50POINTGAMEJERSEY until dissolution of #EMBIIDFIRST50POINTGAMEJERSEY pursuant to Section 11.1(b) or its removal and replacement pursuant to Section 4.3 or ARTICLE X. Initial Member CS Asset Manager, LLC, a Delaware limited liability company Series Asset The Series Assets of #EMBIIDFIRST50POINTGAMEJERSEY shall comprise the asset as further described in Schedule 1 attached hereto, which will be acquired by #EMBIIDFIRST50POINTGAMEJERSEY through that certain Consignment Agreement dated as of June 15, 2021, as it may be amended from time to time, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by #EMBIIDFIRST50POINTGAMEJERSEY from time to time, as determined by the Managing Member in its sole discretion. Asset Manager CS Asset Manager, LLC, a Delaware limited liability company. Management Fee As stated in Section 7.1 of the Agreement. Issuance Subject to Section 6.3(a)(i), the maximum number of #EMBIIDFIRST50POINTGAMEJERSEY Interests the Company can issue may not exceed the purchase price, in the aggregate, of $50,000. Number of #EMBIIDFIRST50POINTGAMEJERSEY Interests held by the Managing Member and its Affiliates The Managing Member must purchase a minimum of 0.5% and may purchase additional #EMBIIDFIRST50POINTGAMEJERSEY Interests (including in excess of 10%), in its sole discretion, through the Offering. Broker Dalmore Group, LLC, a New York limited liability company. Brokerage Fee Up to 1.00% of the gross proceeds of the Interests from #EMBIIDFIRST50POINTGAMEJERSEY sold at the Initial Offering of the #EMBIIDFIRST50POINTGAMEJERSEY Interests (excluding the #EMBIIDFIRST50POINTGAMEJERSEY Interests acquired by any Person other than Investor Members). Schedules to Twelfth Amendment to Limited Liability Company Agreement – Collectable Sports Assets, LLC – Page 126 of 205 Other rights Holders of #EMBIIDFIRST50POINTGAMEJERSEY Interests shall have no conversion, exchange, sinking fund, redemption or appraisal rights, no preemptive rights to subscribe for any securities of the Company and no preferential rights to distributions of #EMBIIDFIRST50POINTGAMEJERSEY Interests. Officers There shall initially be no specific officers associated with #EMBIIDFIRST50POINTGAMEJERSEY, although, the Managing Member may appoint Officers of #EMBIIDFIRST50POINTGAMEJERSEY from time to time, in its sole discretion. Aggregate Ownership Limit As stated in Section 1.1. Minimum Interests One (1) Interest per Member. Schedule 1 DESCRIPTION OF SERIES #EmbiidFirst50PointGameJersey Investment Overview · Upon completion of the SERIES #EmbiidFirst50PointGameJersey Offering, SERIES #EmbiidFirst50PointGameJersey will purchase a Jxxx Embiid Game Worn Jersey 2/19/21 First 50 point game (The “Underlying Asset” with respect to SERIES #EmbiidFirst50PointGameJersey, as applicable), the specifications of which are set forth below.
DIRECT PERSONNEL EXPENSE 4.1. Direct Personnel Expense of employees engaged on the Project by the ARCHITECT/ENGINEER includes ARCHITECT/ENGINEERS, other engineers, designers, job captains, draftsmen, specification writers and typists, in consultation, research and design in producing Drawings, Specifications and other documents pertaining to the Project, and in services during construction at the site.
