Shareholder Expense Sample Clauses

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Shareholder Expense. The term "Shareholder Expense" shall be limited to the following expenses, as such expenses are more specifically described in Exhibit 1.18: (a) Shareholders' salaries, benefits, payroll taxes, and other direct costs (including professional dues, subscriptions, continuing education expenses, severance payments, entertainment, and travel costs for continuing education or other business travel but excluding business travel requested by Business Manager, which shall be an Office Expense, and excluding any other expense of a Shareholder approved as an Office Expense in advance by the Parties); (b) those portions of leasehold obligations of the Business Manager which are deemed in excess of fair market value as set forth in Exhibit 1.31; (c) to the extent not covered by insurance and subject to the advance provisions contained herein, the defense costs of any litigation brought against the Practice or the Professionals by any third party and any liability judgment assessed against the Practice or the Professionals; (d) certain equipment expenses described in Section 3.2(d); (e) interest on any funds advanced to the Practice by Business Manager to the extent that Business Manager is a net lender in accordance with the terms of this Agreement; (f) "tail" coverage malpractice insurance expenses for the Shareholders and any malpractice insurance expenses of any Professional which are in excess of those which are customary and reasonable; (g) any income taxes or franchise tax of the Practice; and (h) consulting, accounting, or legal fees which relate solely to the Shareholders. The Practice shall reimburse the Business Manager for any Shareholder Expense incurred by the Business Manager.Unless an expense is expressly designated as a Business Expense, an Office Expense or a Practice Expense in this Business Management Agreement or in any exhibit hereto, all expenses incurred by the Practice shall be considered a Shareholder Expense. Notwithstanding the above, the Practice may require certain Professionals to pay certain expenses incurred for them specifically.
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Shareholder Expense. The term "Shareholder Expense" shall be limited to the following expenses: (a) Shareholder's salaries, benefits, payroll taxes, and other direct costs (including professional dues, subscriptions, continuing education expenses, severance payments, entertainment, and travel costs for continuing education or other business travel but excluding business travel requested by Professional Business Manager, which shall be an Office Expense and excluding any other expense of a Shareholder approved as an Office Expense in advance by the Parties); (b) "tail" coverage malpractice insurance expenses for the Shareholder and any malpractice insurance expenses of any Professional which are in excess of those which are customary and reasonable; and (c) consulting, accounting, or legal fees which relate solely to the Shareholder. The Practice shall reimburse the Professional Business Manager for any Shareholder Expense incurred by the Professional Business Manager. Unless expressly designated as a Management Fee, a Professional Business Manager Expense, an Office Expense, or a Practice Expense in this Professional Business Management Agreement or in any exhibit hereto or in any written agreement of the Parties, any expense incurred by the Practice shall be considered a Shareholder Expense. Notwithstanding the above, the Practice may require certain Professionals to pay certain expenses incurred for them specifically. Nothing in this Section shall create personal liability on the part of the Practice's Shareholder.
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Shareholder Expense. The term "Shareholder Expense" shall be limited to the following expenses: (a) Shareholders' salaries, benefits, payroll taxes, and other direct costs as provided in the President's Employment Agreement (including professional dues, subscriptions, continuing education expenses, severance payments, and entertainment and travel costs for continuing education or other business travel but excluding business travel requested by Professional Business Manager, which shall be an Office Expense, and excluding any other expense of a Shareholder approved as an Office Expense in advance by the Parties); (b) "tail" coverage malpractice insurance expenses for the Shareholders and any malpractice insurance expenses of any Professional which are in excess of those which are customary and reasonable; and (c) consulting, accounting, or legal fees which relate solely to the Shareholders. The Practice shall reimburse the Professional Business Manager for any Shareholder Expense incurred by the Professional
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Shareholder Expense. The term “Shareholder Expense” shall be limited to the following expenses: (a) Shareholders’ salaries, benefits, payroll taxes, and other direct costs (including professional dues, subscriptions, continuing education expenses, severance payments, entertainment, and travel costs for continuing education or other business travel but excluding business travel requested by Retail Business Manager, which shall be a Dispensary Expense and business travel requested by Professional Business Manager which shall be an Office Expense, and excluding any other expense of a Shareholder approved as a Dispensary Expense or Office Expense in advance by the Parties); accounting, or legal fees which relate solely to the Shareholders.
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Shareholder Expense. The term “Shareholder Expense” shall be limited to the following expenses: (a) Shareholders’ salaries, benefits, payroll taxes, and other direct costs as provided in the President’s Employment Agreement (including professional dues, subscriptions, continuing education
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Related to Shareholder Expense

  • Shareholders’ Fees The Transfer Agent shall be entitled to charge the Fund’s shareholders directly, and may redeem shares of the Fund held in a shareholder’s Account to satisfy such charges, in accordance with the following provisions:

  • Shareholders’ Equity Permit Gannett’s Total Shareholders’ Equity at any time to be less than $3,500,000,000.

  • STOCKHOLDERS' EQUITY As at any date of determination, the sum of (a) the capital accounts including common stock and preferred stock, but excluding treasury stock of the Borrower plus (b) the earned surplus and capital surplus of the Borrower (excluding adjustments to translate foreign assets and liabilities for changes in foreign exchange rates made in accordance with Financial Accounting Standards Board Statement No. 52), as determined in accordance with GAAP.

  • Distributions to Shareholders (a) The Trustees shall from time to time distribute ratably among the Shareholders of any class of Shares, or any series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, such proportion of the net profits, surplus (including paid-in surplus), capital, or assets held by the Trustees as they may deem proper or as may otherwise be determined in accordance with this Declaration. Any such distribution may be made in cash or property (including without limitation any type of obligations of the Trust or any assets thereof) or Shares of any class or series or any combination thereof, and the Trustees may distribute ratably among the Shareholders of any class of shares or series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, additional Shares of any class or series in such manner, at such times, and on such terms as the Trustees may deem proper or as may otherwise be determined in accordance with this Declaration. (b) Distributions pursuant to this Section 9.2 may be among the Shareholders of record of the applicable class or series of Shares at the time of declaring a distribution or among the Shareholders of record at such later date as the Trustees shall determine and specify. (c) The Trustees may always retain from the net profits such amount as they may deem necessary to pay the debts or expenses of the Trust or to meet obligations of the Trust, or as they otherwise may deem desirable to use in the conduct of its affairs or to retain for future requirements or extensions of the business. (d) Inasmuch as the computation of net income and gains for Federal income tax purposes may vary from the computation thereof on the books, the above provisions shall be interpreted to give the Trustees the power in their discretion to distribute for any fiscal year as ordinary dividends and as capital gains distributions, respectively, additional amounts sufficient to enable the Trust to avoid or reduce liability for taxes.

  • Minimum Shareholders’ Equity The Borrower will not permit Shareholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than $500,000,000 plus 25% of the net proceeds of the sale of Equity Interests by the Borrower and its Subsidiaries after the Ninth Amendment Effective Date (other than proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).