Common use of Personnel Expenses Clause in Contracts

Personnel Expenses. All wages and salaries and other employee-related expenses of all employees of Advisor or its Affiliates to the extent engaged in the management, administration, operations, and marketing of the Company, including taxes, insurance and benefits relating to such employees, but excluding personnel expenses reimbursable under any other agreement, such as the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004. Portfolio G&A Expenses. Those categories of portfolio general and administrative costs budgeted for 2011 and presented to the Board of Directors on December 15, 2010, plus certain personnel expenses related to property management services that are not reimbursable under the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Property or Properties. Any real property or properties transferred or conveyed to the Company or the Partnership, either directly or indirectly. Property Manager. Any entity that has been retained to perform and carry out at one or more of the Properties property management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property. REIT. A “real estate investment trust” under Sections 856 through 860 of the Code. Sale or Sales. (i) Any transaction or series of transactions whereby: (A) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including the transfer of any Property that is the subject of a ground lease, and including any event with respect to any Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (B) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Company or the Partnership in any joint venture in which it is a co-venturer or partner; or (C) any joint venture in which the Company or the Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including any event with respect to any Property which gives rise to insurance claims or condemnation awards, but (ii) not including any transaction or series of transactions specified in clause (i) (A), (i) (B), or (i) (C) above in which the proceeds of such transaction or series of transactions are reinvested in one or more Properties within 180 days thereafter. Shares. The Company's shares of common stock, par value $0.01 per share.

Personnel Expenses. All wages and salaries and other employee-related expenses of all employees of Advisor or its Affiliates to the extent engaged in the management, administration, operations, and marketing of the Company, including taxes, insurance and benefits relating to such employees, but excluding personnel expenses reimbursable under any other agreement, such as the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004. Portfolio G&A Expenses. Those categories of portfolio general and administrative costs budgeted for 2011 and presented to the Board of Directors on December 15, 2010, plus certain personnel expenses related to property management services that are not reimbursable under the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Property or Properties. Any real property or properties transferred or conveyed to the Company or the Partnership, either directly or indirectly. Property Manager. Any entity that has been retained to perform and carry out at one or more of the Properties property management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property. REIT. A “real estate investment trust” under Sections 856 through 860 of the Code. Sale or Sales. (i) Any transaction or series of transactions whereby: (A) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including the transfer of any Property that is the subject of a ground lease, and including any event with respect to any Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (B) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Company or the Partnership in any joint venture in which it is a co-venturer or partner; or (C) any joint venture in which the Company or the Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including any event with respect to any Property which gives rise to insurance claims or condemnation awards, but (ii) not including any transaction or series of transactions specified in clause (i) (A), (i) (B), or (i) (C) above in which the proceeds of such transaction or series of transactions are reinvested in one or more Properties within 180 days thereafter. Shares. The Company's shares of common stock, par value $0.01 per share.

Personnel Expenses. All wages and salaries and other employee-related expenses of all employees of Advisor or its Affiliates to the extent engaged in the management, administration, operations, and marketing of the Company, including taxes, insurance and benefits relating to such employees, but excluding personnel expenses reimbursable under any other agreement, such as the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Portfolio G&A Expenses. Those categories of portfolio general and administrative costs budgeted for 2011 and presented to 2012, as approved by the Board of Directors on December 15, 2010Directors, plus certain personnel expenses related to property management services that are not reimbursable under the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Property or Properties. Any real property or properties transferred or conveyed to the Company or the Partnership, either directly or indirectly. Property Manager. Any entity that has been retained to perform and carry out at one or more of the Properties property management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property. REIT. A “real estate investment trust” under Sections 856 through 860 of the Code. Sale or Sales. (i) Any transaction or series of transactions whereby: (A) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including the transfer of any Property that is the subject of a ground lease, and including any event with respect to any Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (B) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Company or the Partnership in any joint venture in which it is a co-venturer or partner; or (C) any joint venture in which the Company or the Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including any event with respect to any Property which gives rise to insurance claims or condemnation awards, but (ii) not including any transaction or series of transactions specified in clause (i) (Ai)(A), (i) (Bi)(B), or (i) (Ci)(C) above in which the proceeds of such transaction or series of transactions are reinvested in one or more Properties within 180 days thereafter. Shares. The Company's shares of common stock, par value $0.01 per share.

Personnel Expenses. All wages and salaries and other employee-related expenses of all employees of Advisor or its Affiliates to the extent engaged in the management, administration, operations, and marketing of the Company, 5 including taxes, insurance and benefits relating to such employees, but excluding personnel expenses reimbursable under any other agreement, such as the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Portfolio G&A Expenses. Those categories of portfolio general and administrative costs budgeted for 2011 and presented to 2012, as approved by the Board of Directors on December 15, 2010Directors, plus certain personnel expenses related to property management services that are not reimbursable under the Master Property Management, Leasing and Construction Management Agreement, dated October 22, 2004, and any successor agreement. Property or Properties. Any real property or properties transferred or conveyed to the Company or the Partnership, either directly or indirectly. Property Manager. Any entity that has been retained to perform and carry out at one or more of the Properties property management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property. REIT. A “real estate investment trust” under Sections 856 through 860 of the Code. Sale or Sales. (i) Any transaction or series of transactions whereby: (A) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including the transfer of any Property that is the subject of a ground lease, and including any event with respect to any Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (B) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Company or the Partnership in any joint venture in which it is a co-venturer or partner; or (C) any joint venture in which the Company or the Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Property or portion thereof, including any event with respect to any Property which gives rise to insurance claims or condemnation awards, but (ii) not including any transaction or series of transactions specified in clause (i) (Ai)(A), (i) (Bi)(B), or (i) (Ci)(C) above in which the proceeds of such transaction or series of transactions are reinvested in one or more Properties within 180 days thereafter. Shares. The Company's shares of common stock, par value $0.01 per share.