Common use of Practice Expenses Clause in Contracts

Practice Expenses. The term "Practice Expenses" shall mean all expenses incurred in the operation of the medical practice of Practice at the Medical Offices (as defined in Section 3.1) or otherwise, whether by Manager or by Practice, including, but not limited to: (a) depreciation, amortization, salaries, benefits and other direct costs of all employees and independent contractors of Practice (but not including salaries, benefits or other direct costs of Practice Employees (as defined in Section 1.5) or Physician Shareholders (as defined in Section 1.4)); (b) rent and other obligations under leases or subleases for the Medical Offices and equipment used by Practice; (c) personal property taxes and intangible taxes assessed against assets used by Practice (d) charitable contributions budgeted and approved by Manager and Practice; (e) interest expense on indebtedness of or specifically related to the medical practice of Practice, including, without limitation, capital expenditures; (f) utility expenses relating to the Medical Offices; (g) subject to the limitation of Section 3.18, twelve and one-half percent (12- 1/2%) of Net Practice Revenues (as defined in Section 1.2), such amount to be retained by Manager as payment for its services and non-allocable costs incurred by Manager attributable to the provision of management services; (h) other expenses incurred by Practice or Manager in carrying out their respective obligations under this Agreement, except as otherwise provided herein; (i) amounts paid by Manager in reimbursement of Practice, pursuant to Section 4.1, for salaries and benefits paid by Practice for those individuals described in Section 1.5(b); and (j) any reserves reasonably deemed prudent by Manager for anticipated costs or expenses of the medical practice of Practice.

Practice Expenses. The term "Practice Expenses" shall mean all direct expenses incurred in the operation of the medical practice of Practice at the local central billing office serving the Practice (the "CBO") and at the "Medical Offices Offices" (as defined in Section 3.1) or otherwise), whether by Manager or by Practice, including, but not limited to: (a) depreciation, amortizationdepreciation and amortization (as hereinbelow provided), salaries, benefits and other direct costs of all employees and independent contractors of Practice (but not including salaries, benefits or other direct costs of "Practice Employees Employees" (as defined in Section 1.5) ), other than leased Practice Employees, if any, or "Physician Shareholders Partners" (as defined in Section 1.4)); (b) rent and other obligations under leases or subleases for the Medical Offices Offices, CBO, off-site storage and equipment used by PracticePractice (including, but not limited to, all leases acquired or assigned in connection with the acquisition of the shares under the "Stock Purchase Agreements", as defined in Section 1.8); (c) personal property taxes, use taxes and intangible taxes assessed against assets used by Practice at a Medical Office or CBO; (d) charitable contributions budgeted and approved by Manager and Practice; (e) interest expense on indebtedness of or specifically related to the medical practice and/or expansion of Practice, including, without limitation, interest expense in connection with capital expenditures; , provided if funded by Manager such interest charge will be at the same rate as Manager's senior borrowing rate, (f) utility expenses relating to the CBO and Medical Offices; (g) subject to the limitation of Section 3.18, twelve and one-half percent (12- 1/2%) of Net Practice Revenues (management fees as defined provided in Section 1.2), such amount to be retained by Manager as 5.3 in payment for its services and non-allocable costs incurred by Manager attributable to the provision of management services; (h) expenses associated with the termination, freezing or other administration of any "Corporation Plan" as defined in any Stock Purchase Agreement; (i) other expenses incurred by Practice or Manager in carrying out their respective obligations under this Agreement, except as otherwise provided herein; (ij) amounts paid by Manager in reimbursement of Practice, Practice pursuant to Section 4.1, 4.1 for salaries and benefits paid by Practice for those individuals described in Section 1.5(b); (k) costs of employees and agents providing personal services to particular Physician Partners or Practice Employees; (jl) any reserves reasonably deemed prudent by Manager Advisory Board for anticipated costs or expenses of the medical practice of Practice; (m) the cost of the "Mediator" to the extent provided in Section 11.1(b) below; and (n) 50% of travel and travel related expenses for a period not to exceed six (6) months following the commencement of service under this Agreement (the "Transitional Period") for employees of Manager's corporate office for work at the CBO and Medical Offices in connection with the integration of Practice's operational systems with and into Manager's operational systems. For purposes of calculating the depreciation component of Practice Expenses under subsection (a) above, the parties agree that (i) depreciation shall be charged on a straight-line basis in accordance with GAAP over a seven-year period in the amounts of $1,833,225 with respect to the depreciable personal property on the books of the "Corporations" when acquired under the Stock Purchase Agreement with the Original Partners (as the same may be amended, the "Original Stock Purchase Agreement") (including, without limitation, assets acquired by any such Corporation from Physicians Domain, Inc.) (and whether or not subsequently abandoned) and (ii) depreciation with respect to capitalized items acquired by Manager after the date of the Original Agreement pursuant to Section 3.3(b) and depreciable property acquired pursuant to acquisition of assets or stock of other practices which merge into or with Practice after the date of this Agreement shall be charged as Practice Expenses on a straight-line basis in accordance with GAAP. For purposes of calculating the amortization component of Practice Expenses under subsection (a) above, the parties agree that amortization shall be charged on a straight-line basis in accordance with GAAP over a 25-year period with respect to goodwill on the books of the Corporations when acquired under the Stock Purchase Agreements, or on the books of any other corporations or entities acquired after the date of this Agreement with respect to other practices which merge into or with Practice.

Practice Expenses. The term "Practice Expenses" shall mean all expenses incurred in information below marked by * and [ ] has been omitted pursuant to a request for confidential treatment. The omitted portion has been separately filed with the operation of the medical practice of Practice at the Medical Offices (as defined in Section 3.1) or otherwise, whether by Manager or by Practice, including, but not limited to: (a) Commission. depreciation, amortization, salaries, benefits and other direct costs of all employees and independent contractors of Practice (but not including salaries, benefits or other direct costs of Practice Employees (as defined in Section 1.5) or Physician Shareholders (as defined in Section 1.4)); (b) rent and other obligations under leases or subleases for the Medical Offices and equipment used by Practice; (c) personal property taxes and intangible taxes assessed against assets used by Practice (d) charitable contributions budgeted and approved by Manager and Practice; (e) interest expense on indebtedness of or specifically related to the medical practice of Practice, including, without limitation, capital expenditures; (f) utility expenses relating to the Medical Offices; (g) subject to the limitation of Section 3.18, twelve and one-half percent (12- 1/2%) [*] of Net Practice Revenues (as defined in Section 1.2), such amount to be retained by Manager as payment for its services and non-allocable costs incurred by Manager attributable to the provision of management services; (h) other expenses incurred by Practice or Manager in carrying out their respective obligations under this Agreement, except as otherwise provided herein; (i) amounts paid by Manager in reimbursement of Practice, pursuant to Section 4.1, for salaries and benefits paid by Practice for those individuals described in Section 1.5(b); and (j) any reserves reasonably deemed prudent by Manager for anticipated costs or expenses of the medical practice of Practice.

Practice Expenses. The term "Practice Expenses" shall mean all expenses incurred in the operation of the medical practice of Practice at the Medical Offices (as defined in Section 3.1) or otherwise, whether by Manager or by Practice, including, but not limited to: (a) depreciationdepreciation (including without limitation depreciation on the assets acquired from HMFM Partnership, a Florida partnership), amortization, salaries, benefits and other direct costs of all employees and independent contractors of Practice (but not including salaries, benefits or other direct costs of Practice Employees (as defined in Section 1.5) or Physician Shareholders (as defined in Section 1.4)); (b) rent and other obligations under leases or subleases for the Medical Offices and equipment used by Practice; (c) personal property taxes, use taxes and intangible taxes assessed against assets used by Practice Practice; (d) charitable contributions budgeted and approved by Manager and Practice; (e) interest expense on indebtedness of or specifically related to the medical practice of Practice, including, without limitation, capital expenditures, provided if funded by Manager such interest charge will be at the same rate as Manager's senior borrowing rate, and no interest will be charged with respect to the assets acquired from HMFM Partnership, a Florida partnership; (f) utility expenses relating to the Medical Offices; (g) subject to the limitation of Section 3.18, twelve and one-half percent (12- 12 1/2%) of Net Practice Revenues (as defined in Section 1.2), such amount to be retained by Manager as its management fee in payment for its services and non-allocable costs incurred by Manager attributable to the provision of management services; (h) other expenses incurred by Practice or Manager in carrying out their respective obligations under this Agreement, except as otherwise provided herein; (i) amounts paid by Manager in reimbursement of Practice, pursuant to Section 4.1, for salaries and benefits paid by Practice for those individuals described in Section 1.5(b); and (j) any reserves reasonably deemed prudent by Manager for anticipated costs or expenses of the medical practice of Practice.