Common use of Overhead of the Managing Member Clause in Contracts

Overhead of the Managing Member. The Managing Member shall pay, and the Series Members shall not bear, the cost of all of the ordinary overhead and administrative expenses of the Managing Member including, without limitation, all costs and expenses on account of rent, utilities, insurance, office supplies, office equipment, secretarial expenses, stationery, charges for furniture, fixtures and equipment, payroll taxes, travel, entertainment and, except as set forth in Section 6.2, salaries and bonuses.

Overhead of the Managing Member. The Managing Member shall pay, pay and the Series Members shall not bear, bear the cost of all of the ordinary overhead and administrative expenses of the Managing Member including, without limitation, all costs and expenses on account of rent, utilities, insurance, office supplies, office equipment, secretarial expenses, stationery, charges for furniture, fixtures and equipment, payroll taxes, travel, entertainment and, except as set forth in Section 6.2, salaries and bonuses.