Common use of Reimbursement for Operating Expenses Clause in Contracts

Reimbursement for Operating Expenses. (a) Subject to Section 14.6(b) below, the Company may reimburse the Advisor or its Affiliates, at the end of each fiscal quarter, for goods and services, including impact monitoring services and Acquisition Expenses. The Advisor may be reimbursed for the administrative services necessary to the prudent operation of the Company; provided, the reimbursement shall be the lower of the Advisor’s actual cost or the amount the Company would be required to pay Persons other than the Advisor’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no reimbursement shall be permitted for services for which the Advisor is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) rent or depreciation, utilities, capital equipment and similar items; and (ii) salaries, fringe benefits and similar items incurred or allocated to any controlling person of the Advisor. For purposes of this Section 14.6, “controlling person” means persons with responsibilities similar to those of an executive, or a member of the Board of Directors, or any person who holds more than 10% of the Advisor’s equity securities or who has the power to control the Advisor.

Reimbursement for Operating Expenses. (a) Subject Unless otherwise provided in any resolution adopted by the Board of Managers, and subject to Section 14.6(b) below, the Company may reimburse the Advisor or its Affiliates, at the end of each fiscal quarter, for goods and services, including including, but not limited to, impact monitoring services and Acquisition Expenses. The Advisor may be reimbursed for the administrative services necessary to the prudent operation of the Company; provided, the reimbursement shall be the lower of the Advisor’s actual cost or the amount the Company would be required to pay Persons other than the Advisor’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no reimbursement shall be permitted for services for which the Advisor is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) rent or depreciation, utilities, capital equipment and similar items; and (ii) salaries, fringe benefits benefits, travel expenses and similar items incurred or allocated to any controlling person of the Advisor. For purposes of this Section 14.6, “controlling person” means persons with responsibilities similar to those of an executive, or a member of the Board of DirectorsManagers, or any person who holds more than ten percent (10% %) of the Advisor’s equity securities or who has the power to control the Advisor.

Reimbursement for Operating Expenses. (a) All expenses of a Manager and/or a Company Administrator shall be billed to and paid by the Company. Subject to Section 14.6(b13.6(b) below, the Company may reimburse the Advisor a Manager or its Affiliates, at the end of each fiscal quartermonth, for the actual costs of goods and servicesservices as provided for in writing pursuant to a Management Agreement, including impact monitoring services including, without limitation, the reimbursement of all third party reimbursable expenses permitted thereunder. A Company Administrator and Acquisition Expenses. The Advisor its Affiliates may be reimbursed for the administrative services necessary to the prudent operation of the CompanyCompany as provided for in writing pursuant to an administrative services or similar agreement; provided, the reimbursement shall be the lower of the Advisor’s Company Administrator 's actual cost or the amount the Company would be required to pay Persons other than the AdvisorCompany Administrator’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no No reimbursement shall be permitted for services for which the Advisor a Manager or a Company Administrator, as applicable, is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) overhead, rent or depreciation, utilities, capital equipment and similar itemsother administrative items of the Manager and/or Company Administrator; and (ii) salaries, fringe benefits benefits, travel expenses and similar other administrative items incurred or allocated to any controlling person of the Advisor. For purposes of this Section 14.6, “controlling person” means persons with responsibilities similar to those of an executive, or a member of the Board of Directors, or any person who holds more than 10% of the Advisor’s equity securities or who has the power to control the AdvisorControlling Person.

Reimbursement for Operating Expenses. (a) All expenses of a Manager and/or a Company Administrator shall be billed to and paid by the Company. Subject to Section 14.6(b13.6(b) below, the Company may reimburse the Advisor a Manager or its Affiliates, at the end of each fiscal quartermonth, for the actual costs of goods and servicesservices as provided for in writing pursuant to a Management Agreement, including impact monitoring services including, without limitation, the reimbursement of all third party reimbursable expenses permitted thereunder. A Company Administrator and Acquisition Expenses. The Advisor its Affiliates may be reimbursed for the administrative services necessary to the prudent operation of the CompanyCompany as provided for in writing pursuant to an administrative services or similar agreement; provided, the reimbursement shall be the lower of the AdvisorCompany Administrator ’s actual cost or the amount the Company would be required to pay Persons other than the AdvisorCompany Administrator’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no No reimbursement shall be permitted for services for which the Advisor a Manager or a Company Administrator, as applicable, is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) overhead, rent or depreciation, utilities, capital equipment and similar itemsother administrative items of the Manager and/or Company Administrator; and (ii) salaries, fringe benefits benefits, travel expenses and similar other administrative items incurred or allocated to any controlling person of the Advisor. For purposes of this Section 14.6, “controlling person” means persons with responsibilities similar to those of an executive, or a member of the Board of Directors, or any person who holds more than 10% of the Advisor’s equity securities or who has the power to control the AdvisorControlling Person.

Reimbursement for Operating Expenses. (a) Subject to Section 14.6(b) below, the Company may reimburse the Advisor or its Affiliates, at the end of each fiscal quarter, for goods and services, including impact monitoring services and Acquisition Expenses. The Advisor may be reimbursed for the administrative services necessary to the prudent operation of the Company; provided, the reimbursement shall be the lower of the Advisor’s actual cost or the amount the Company would be required to pay Persons other than the Advisor’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no reimbursement shall be permitted for services for which the Advisor is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) rent or depreciation, utilities, capital equipment and similar items; and (ii) salaries, fringe benefits and similar items incurred or allocated to any controlling person Controlling Person of the Advisor. For purposes of this Section 14.6, “controlling personControlling Person” means persons with responsibilities similar to those of an executive, or a member of the Board of Directors, or any person who holds more than 10% of the Advisor’s equity securities or who has the power to control the Advisor.

Reimbursement for Operating Expenses. (a) All expenses of a Manager and/or a Company Administrator shall be billed to and paid by the Company. Subject to Section 14.6(b13.6(b) below, the Company may reimburse the Advisor a Manager or its Affiliates, at the end of each fiscal quartermonth, for the actual costs of goods and servicesservices as provided for in writing pursuant to a Management Agreement, including impact monitoring services including, without limitation, the reimbursement of all third party reimbursable expenses permitted thereunder. A Company Administrator and Acquisition Expenses. The Advisor its Affiliates may be reimbursed for the administrative services necessary to the prudent operation of the CompanyCompany as provided for in writing pursuant to an administrative services or similar agreement; provided, the reimbursement shall be the lower of the Advisor’s Company Administrator ‘s actual cost or the amount the Company would be required to pay Persons other than the AdvisorCompany Administrator’s Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. Except as otherwise provided herein, no No reimbursement shall be permitted for services for which the Advisor a Manager or a Company Administrator, as applicable, is entitled to compensation by way of a separate fee. (b) Excluded from the allowable reimbursement shall be: (i) overhead, rent or depreciation, utilities, capital equipment and similar itemsother administrative items of the Manager and/or Company Administrator; and (ii) salaries, fringe benefits benefits, travel expenses and similar other administrative items incurred or allocated to any controlling person of the Advisor. For purposes of this Section 14.6, “controlling person” means persons with responsibilities similar to those of an executive, or a member of the Board of Directors, or any person who holds more than 10% of the Advisor’s equity securities or who has the power to control the AdvisorControlling Person.