Reimbursement to Company. The Company shall not reimburse the Advisor during any fiscal quarter for Operating Expenses that, in the four consecutive fiscal quarters then ended (the “Expense Year”), exceed the 2%/25% Guidelines for such year (the “Excess Amount”), unless the Independent Directors determine that such excess was justified, based on unusual and non-recurring factors which they deem sufficient, in which case the Excess Amount may be reimbursed. Any Excess Amount paid to the Advisor during a fiscal quarter without the Independent Directors determining that such expenses were justified shall be repaid to the Company. Within 60 days after the end of any fiscal quarter of the Company for which total Operating Expenses for the Expense Year exceed the 2%/25% Guidelines and the Independent Directors determined that such expenses were justified, there shall be sent to the Shareholders a written disclosure of such fact, together with an explanation of the factors the Independent Directors considered in determining that such excess expenses were justified. Such determination shall be reflected in the minutes of the meetings of the Board of Directors. The Company will not reimburse the Advisor or its Affiliates for services for which the Advisor or its Affiliates are entitled to compensation in the form of a separate fee.
Reimbursement to Company. To the extent allowed by applicable law, Employee agrees to reimburse the Company for any amounts due as a result of the Employment, including, but not limited to, any unused business expense advances, charges for Company property that Employee fails to return when requested or that Employee lost or damaged as the result of a dishonest, willful or grossly negligent act, and any other charges incurred that are payable to the Company. Employee agrees to enter into a repayment arrangements and execute instruments or documents as may be provided by Company to effectuate this provision.
Reimbursement to Company. In the event the Company has provided the Executive any split dollar death benefit under separate agreement, the Executive shall annually pay to the Company an amount equal to the Executive’s economic benefit determined under such agreement.
Reimbursement to Company. If the Company has paid any amounts as DAMAGES and/or CLAIMS EXPENSES in satisfaction of any CLAIMS in excess of the applicable limit of liability, or has paid DAMAGES and/or CLAIMS EXPENSES within the amount of applicable deductible, the NAMED INSURED shall be liable to the Company for any and all such amounts and, upon demand, shall pay such amounts to the Company.
Reimbursement to Company. Riccxxxxxx xxxees that if he resigns his employment with the Company, or if his employment is terminated for Cause (as defined in Section 7(a) below), within 12 months after the beginning of the Term (as stated in Section 1 above): [a] The Company shall have no obligation to provide any remaining reimbursement to Riccxxxxxx xxx Relocation Expenses (as defined, respectively, in Section 3(g)); [b] Riccxxxxxx xxxll reimburse the Company pro rata for any sums provided to him for Relocation Expenses (as defined in Section 3(g)), computed on the basis of the number of days remaining in the period between the date of Riccxxxxxx'x xxxignation or termination for Cause, and the first anniversary of the beginning of the Term; [c] Riccxxxxxx xxxll reimburse the Company for the full amount of the Sign-on Bonus and any relocation Bonus (as defined, respectively in Sections 3(d) and 3(f)) paid to Riccxxxxxx xx of the date of his resignation or termination for Cause; [d] Riccxxxxxx xxxhorizes the Company to deduct from any compensation earned but unpaid to him under Sections 3(a), 3(b) or 3(c) as of the date of his resignation or termination for Cause, all or any part of any reimbursement that Riccxxxxxx xxx owe to the Company under Sections 3(i)[b] or 3(i)[3] above.
Reimbursement to Company. (i) The Company shall not reimburse the Advisor during any fiscal quarter for Operating Expenses that, in the four consecutive fiscal quarters then ended (the “Expense Year”), exceed the 2%/25% Guidelines for such year (the “Excess Amount”), unless the Independent Directors determine that such excess was justified, based on unusual and non-recurring factors which they deem sufficient, in which case the Excess Amount may be reimbursed. Any Excess Amount paid to the Advisor during a fiscal quarter without the Independent Directors determining that such expenses were justified shall be repaid to the Company. Within 60 days after the end of any fiscal quarter of the Company for which total Operating Expenses for the Expense Year exceed the 2%/25% Guidelines and the Independent Directors determined that such expenses were justified, there shall be sent to the Stockholders a written disclosure of such fact, together with an explanation of the factors the Independent Directors considered in determining that such excess expenses were justified. Such determination shall be reflected in the minutes of the meetings of the Board of Directors. 13 (ii) The Company shall reimburse the Advisor for the cumulative Organization and Offering Expenses in connection with all Offerings in an amount equal to 2.5% of Gross Proceeds from the sale of Shares in all Offerings. The Advisor or an Affiliate of the Advisor shall be responsible for the cumulative Organization and Offering Expenses incurred in connection with all Offerings that exceed 2.5% of Gross Proceeds from the sale of Shares in all Offerings. For purposes of this Section 10.03, “Organization and Offering Expenses” excludes selling commissions, dealer manager fees and distribution and stockholder servicing fees. ARTICLE 11
