Property Costs. As to each Project, all New Site Capital Expenditures and, -------------- without duplication, all costs that will be incurred by the Borrower in connection with the acquisition of the Land, the construction of the Improvements, and the carrying of the Property through the Completion Date, including without limitation all Indirect Costs.
Property Costs. All obligations of Sellers in respect of Property Costs relating to the Properties to the extent arising at or after the Effective Time, including such Property Costs that would otherwise constitute Cure Costs;
Property Costs. The Lessee, as Construction Agent, will maintain a record of the Property Cost for each Site, and shall certify the same periodically to the Lessor, the Agent and the Participants from time to time upon request.
Property Costs. “Property Costs” means, determined without duplication, (i) capital expenditures incurred in the ownership or operation of the Assets, (ii) where applicable, such costs and capital expenditures charged in accordance with the relevant operating agreement, unit agreement, pooling agreement, pre-pooling agreement, pooling order or similar instrument, or if none, charged to the Assets on the same basis as charged on the date of this Agreement, and (iii) overhead costs charged to the Assets under the relevant operating agreement, unit agreement, pooling agreement, pre-pooling agreement, pooling order or similar instrument by unaffiliated third parties, and (iv) obligations to pay working interests, royalties, overriding royalties, or other Suspense Funds, all of which are addressed elsewhere in this Agreement. For the purposes of calculating the adjustments to the Purchase Price under Section 2.3, Property Taxes, right-of-way fees, insurance premiums and Property Costs (excluding delay rentals, lease bonuses, minimum royalties, option payments, lease extension payments and shut-in royalties) that are paid periodically or otherwise cover services or deliveries for a period shall be prorated based on the number of days in the applicable period falling before, or at and after, the Effective Time, except that production, severance, and similar Taxes shall be prorated based on the number of units actually produced, purchased or sold or proceeds of sales, as applicable, before, or at and after, the Effective Time. Subject to the preceding sentence, determination of whether Property Costs are attributable to the period before or after the Effective Time shall be based on when services are rendered, when goods are delivered, or when the work is performed.
Property Costs. The innovative approach to be adopted in the use of the accommodation will result in a net reduction in the overall footprint (the Denburn Health Centre is presently 75% unoccupied) and it is anticipated that revenue running costs of the buildings will be managed within existing resources. The annual property costs of the current service reflect those of the 3 buildings currently in operation – Denburn Health Centre, Northfield Surgery and Mastrick Clinic. All of the other options show a significantly reduced annual cost. This is because the other options allow for the closure of Denburn Health Centre. While several of the other options also include opening new premises, these will be significantly smaller than the Denburn Health Centre, which though now largely unoccupied, still incurs significant Rates and Heating costs.
Property Costs. On a line by line and total basis, the Property costs shown on the Loan Budget are true, correct and complete, and represent the total of all costs, expenses and fees which Borrower expects to pay or may be or become obligated to pay to construct the Improvements, and to lease-up and operate the Property until the Conversion Date.
Property Costs. Neither the Construction Agent nor the Lessee shall incur, or shall cause or permit any Lessee Person to incur, any Property Costs that, when added to the aggregate Property Costs then incurred to date, would exceed the Aggregate Commitments.
Property Costs. In the ordinary course of business during the period of its ownership, such Seller has paid all Property Costs attributable to the period of time prior to the Effective Time as such Property Costs became due, and such Property Costs are being paid in a timely manner before the same become delinquent, except such Property Costs as are disputed in good faith by such Seller in a timely manner and for which such Seller shall retain responsibility.
Property Costs. On a line by line and total basis, the Improvements costs shown on the Sworn Construction Cost Statement shall be true, correct and complete in all material respects, and represent the total of all costs, expenses and fees which Borrower expects to pay or may be or become obligated to pay to construct the Improvements.
Property Costs. Borrower shall not pay any Property Costs from any amounts on deposit in, or required to be deposited into, the Remittance Account or the Collection Account other than (i) payment of Monthly Operating Expenses in accordance with Section 3.05 and (ii) payment of any such amounts out of Available Income.
