Pre-Opening Expenses Sample Clauses

Pre-Opening Expenses. The term “Pre-Opening Expenses” shall have the meaning set forth in Section 2.03.01.
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Pre-Opening Expenses. Costs, charges, and expenses related to the opening of the Food Service operation, immediately prior and/or during the first semester of the contract, only as pre‐ approved by University.
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Pre-Opening Expenses. Vendor will fund one‐time Pre‐Opening Expenses (“Pre‐ Opening Expenses”) on behalf of the Dining Services Program, at Vendor’s sole expense and only as approved by University. Pre‐opening Expenses include, but are not limited to, travel, meals, lodging, opening promotions and advertising, accounting and operating manuals and systems, interviewing and relocation, salaries and fringe benefits, crew training, and other expenses related to preparing for, and commencing services for the 2019‐20 academic year. Pre‐Opening Expenses shall not exceed $ and shall not be included in the amortization schedule.
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Pre-Opening Expenses. Owner shall provide all funds to pay any amounts or, as applicable, reimburse any deficiencies arising in connection with the following pre-opening expenses in accordance with a pre-opening budget prepared by Management Company and approved by Owner prior to the opening of the Hotel:
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Pre-Opening Expenses. The expenses relating to much activities ("Pre-Opening Expenses ") shall include, but not be limited to: salaries and wages (including those of personnel of Tenant and its affiliated companies); costs of interim office space; professional fees; telephone expenses; staff hiring and training costs; travel and moving expenses; costs of entertainment and opening celebrations including food, beverages and the room accounts of invitees; the cost of heat, light, power and clean-up expenses not chargeable to the cost of the project; advertising, public relations and promotional expenses; employee benefits and meals prior to the Opening Date; classified advertising, agency fees, recruitment costs and other associated miscellaneous expenses. Tenant has prepared and submitted an estimate (the "Pre-Opening Estimate") of the Pre-Opening Expenses to Landlord, which Landlord has approved. Any Pre-Opening Expenses in excess of the Pre-Opening Estimate reasonably incurred by Tenant shall be borne by Landlord. END OF ARTICLE VI
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Pre-Opening Expenses. 14 Project ................................................... 14
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Pre-Opening Expenses. A. The expenses relating to such activities ("Pre-Opening Expenses") shall include, but not be limited to, salaries and wages (including those of personnel of the Management Company and its affiliated companies), costs of interim office space, professional fees, telephone expenses, staff hiring and training costs, travel and moving expenses, costs of opening celebrations, the cost of beat, light and power not chargeable to the cost of constructing the Hotel, advertising and promotion expense, and miscellaneous expenses. Except as otherwise specifically provided in subsection B hereof, all Pre-Opening Expenses shall be borne exclusively by Management Company and shall not be reimbursed by Owner or treated as a deduction from Operating Profit.
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Pre-Opening Expenses. At least one (1) year prior to the projected Opening Date, and thereafter as necessary, Manager shall prepare and submit to Owner, for Owner’s review and comment, a budget containing an estimate (or revised estimates, as the case may be) of the total Pre-Opening Expenses. Manager shall consider Owner’s comments to such budget(s) in good faith and implement such comments where appropriate. In the event the Opening Date is delayed or postponed from the original date established therefor, such estimates shall be subject to revision to reflect any increases in Pre-Opening Expenses occasioned by such delay or postponement. Owner shall notify Manager in advance of any impending delay or postponement of the Opening Date to enable Manager (to the extent reasonably practicable) to reduce the increases in Pre-Opening Expenses occasioned thereby. It is understood, however, that to the extent that such a delay or postponement of the Opening Date causes increased Pre-Opening Expenses that cannot reasonably be avoided, Owner shall promptly pay such increased Pre-Opening Expenses pursuant to Section 5.4 of this Addendum, regardless of the fact that such delay or postponement may be the result of Force Majeure. For purposes of the preceding sentence, the term “increased Pre-Opening Expenses” shall include all out-of-pocket cancellation penalties in the event Manager must cancel reservations made for Guest Rooms, meeting rooms and other Hotel facilities as a result of such delay or postponement of the Opening Date. Manager shall use reasonable efforts to implement all pre-opening activities in an efficient, business-like manner so as to maximize the effectiveness of such activities and the spending of the budget for the Pre-Opening Expenses.
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Pre-Opening Expenses. Pre-opening Expenses Pre-Closing Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Total Pre-opening Staffing Staff Base Operations Manager 1 $ 225,000 Slot Manager 1 $ 100,000 $ 4,166 $ 8,333 $ 8,333 $ 8,333 $ 8,333 $ 37,498 Finance Director 1 $ 150,000 12,500 12,500 12,500 12,500 12,500 62,500 Marketing Director 1 $ 100,000 Database Manager 1 $ 80,000 Talent Manager 1 $ 125,000 10,415 10,415 10,415 31,245 IT Director 1 $ 150,000 12,500 12,500 12,500 12,500 12,500 62,500 Security Director 1 $ 100,000 8,333 8,333 16,666 Surveillance Director 1 $ 125,000 10,415 10,415 10,415 10,415 41,660 Staff A - Salaried 18 $ 35,000 48,462 48,462 Staff B - Hourly 225 $ 15,600 135,000 135,000 Subtotal Pre-opening Wages $ 0 $ 0 $ 0 $ 0 $ 29,166 $ 43,748 $ 54,163 $ 62,496 $ 245,958 $ 435,531 Fringe Benefits 7,292 10,937 13,541 15,624 61,490 108,883 Total Pre-opening Wages $ 0 $ 0 $ 0 $ 0 $ 36,458 $ 54,685 $ 67,704 $ 78,120 $ 307,448 $ 544,414 Drug Screening/Compliance 3,000 2,000 12,500 7,500 25,000 Total Pre-opening Staffing $ 0 $ 0 $ 0 $ 3,000 $ 36,458 $ 56,685 $ 80,204 $ 85,620 $ 307,448 $ 569,414 Pre-opening Staff Activities Staff $/Unit Meals, manuals, t-shirts etc. 150 $ 243 36,450 36,450 Uniforms 150 $ 225 33,750 33,750 Development Fees 75,000 25,000 25,000 25,000 25,000 25,000 25,000 225,000 Related Expenses 20,000 9,041 10,959 10,000 12,500 12,500 12,500 12,500 12,500 112,500 Total Pre-opening Staff Activities $ 20,000 $ 84,041 $ 35,959 $ 35,000 $ 37,500 $ 37,500 $ 37,500 $ 37,500 $ 82,700 $ 407,700 Supplies - Gaming (In Marketing Budget) New Chip Series Players Club Cards Paper (Boca, etc) Total Pre-opening Gaming Supplies $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Forms 27,500 27,500 55,000 Supplies - Facility 12,500 12,500 25,000 Inventory - F&B 50,000 50,000 Pre-Opening Marketing 25,000 75,000 75,000 50,000 15,000 10,000 250,000 Total Pre-opening Expenses $ 20,000 $ 84,041 $ 35,959 $ 63,000 $ 148,958 $ 169,185 $ 167,704 $ 178,120 $ 490,148 $ 1,357,114 Note: Estimated Working Capital / Minimum Bankroll of $2,500,000 to be replaced with operating cash, and not included in pre-opening expense estimates EXHIBIT A ASSIGNMENT AND ASSUMPTION This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in t...
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Related to Pre-Opening Expenses

  • Closing Expenses Seller shall pay for the preparation of the Special Warranty Deed, such deed to substantially conform to the provisions of the deed attached hereto as Exhibit B and incorporated by this reference herein. Seller shall provide and pay for all other documents necessary to perform Seller's obligations under this Contract, its attorney’s fees and for the "Grantor’s Tax". Buyer shall pay for (a) recording the Deed and for preparation and recording of all instruments required to secure the balance of the Purchase Price unpaid at Closing, (b) all recordation and transfer taxes, other than the "Grantor's Tax," (c) its attorney’s fees, (d) all costs of a title examination, a title report, a title commitment and one or more title insurance policies, and (e) all other Closing costs, including without limitation, fees to the Settlement Agent.

  • Marketing Expenses Certain marketing expenses, such as Selected Dealer conferences, may be advanced to Selected Dealer and later deducted from the portion of the Dealer Manager Fee re-allowed to that Selected Dealer. If the offering of Shares in a Feeder Fund is not consummated, Selected Dealer will repay any such advance to the extent not previously expended on marketing expenses. Any such advance shall be deducted from the maximum amount of the Dealer Manager Fee that may otherwise be re-allowable to Selected Dealer. Notwithstanding anything herein to the contrary, as to any Feeder Fund, Selected Dealer will not be entitled to receive any Dealer Manager Fee and/or Distribution and Shareholder Servicing Fee which would cause the aggregate amount of selling commissions, dealer manager fees, Distribution and Shareholder Servicing Fees and other forms of underwriting compensation (as defined in accordance with applicable FINRA rules) received by the Dealer Manager and all Selected Dealers to exceed 10.0% of the gross proceeds raised from the sale of Shares in the Feeder Fund’s primary offering.

  • 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.

  • Moving Expenses Reimbursements and procedures will be in accordance with the Department of Administrative Services, Chief Human Resource Office Policy 40.055.10, and its successors. Changes in this policy will be automatically incorporated into this contract Article.

  • 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 Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant 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 Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, 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 Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Tax Expenses Tenant shall pay to Landlord Tenant’s Share of all Tax Expenses applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant’s Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within ten (10) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. “Tax Expenses” means, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any governmental, school, agricultural, lighting or other improvement district) as against any legal or equitable interest of Landlord in the Premises, Project or Park or any other tax, fee, or excise, however described, including, but not limited to, any tax resulting from the recordation of any parcel or subdivision map with respect to the Park and/or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of Tax Expenses. “Tax Expenses” shall not include (a) any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, (b) any penalty or fee imposed solely as a result of Landlord’s failure to pay Tax Expenses when due, and (c) any items included as Operating Expenses. In the event that a parcel or subdivision map with respect to the Park or a portion of the Park is recorded by Landlord, Tenant’s Share of Tax Expenses shall be commensurately revised to reflect any increases or decreases that may result from the impact of such parcel or subdivision map.

  • 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”).

  • Taxes and Operating Expenses All real estate taxes, charges and assessments affecting the Property (“Taxes”), all charges for water, electricity, sewer rental, gas, telephone, fuel oil and all other utilities (“Operating Expenses”), to the extent not paid directly by tenants, and all common area maintenance charges billed to tenants on an estimated basis (“CAM Charges”) shall be prorated on a per diem basis as of the date of Closing. Buyer shall be entitled to all income and responsible for all expenses for the period beginning at 12:01 a.m. (Central Time Zone (U.S.A.)) on the date of Closing, except as set forth herein. If any Taxes have not been finally assessed as of the date of Closing for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills therefor, and shall be re-adjusted when and if final bills are issued. If any Operating Expenses or CAM Charges cannot conclusively be determined as of the date of Closing, then the same shall be adjusted at Closing based upon the most recently issued bills thus far, and readjusted within 120 days after the end of the calendar year in which the Closing occurs or as soon thereafter as final adjustment figures are available. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general, subject to proration on a per diem basis as of the Closing Date. If Seller is presently prosecuting tax abatement proceedings, after the Closing, Seller shall continue to be authorized to prosecute such proceedings, and shall be entitled to its pro rata share of any such abatement proceeds. Buyer agrees after the Closing, to the extent reasonably necessary for Seller to continue to prosecute such proceedings, to reasonably cooperate with Seller, to pay its pro rata share of any costs attributable to such proceedings and also agrees to promptly endorse or pay over to Seller any abatement amounts for such years received by Buyer, less applicable costs incurred by Buyer. To the extent that such refunds are paid to Seller and are due to tenants, Seller does hereby covenant and agree that it shall, upon receipt thereof, reimburse tenants for their applicable share of such refunds. Notwithstanding anything to the contrary contained herein, all reimbursable expenses shall be reconciled at Closing, such that if Seller has collected sums in excess of its reimbursable expenses under the Leases, Seller shall pay such excess to Buyer. In the event that such reconciliation shows that Seller has collected less than its incurred reimbursable expenses under the Leases, Buyer shall remit the shortfall to Seller, when and to the extent actually collected from tenants (with such collections applied first to amounts due with respect to the month in which Closing occurs, and then to any amounts due Buyer with respect to the period of time following the Closing, and then to Seller with respect to any amounts due to Seller with respect to the period of time prior to the Closing) not later than the expiration of one hundred twenty (120) days after the calendar year in which the Closing occurs with respect to the budgeting of such expenses under the Leases.

  • 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.

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