Common use of Support Expenses Clause in Contracts

Support Expenses. All reasonable and necessary costs associated with the continued normal operation, preservation and maintenance of the Facility in the manner provided herein during the period commencing on the date on which the Lease terminates as provided therein, including any Lease Termination Date or Cancellation Date, through the date provided in Section 8.30(n) (“Support Expenses”) shall be timely advanced by the Company on behalf of Lessor subject to reimbursement as hereafter set forth. All such Support Expenses advanced by the Company shall be accounted for by the Company and reported to Lessor pursuant to monthly written operating reports certified by an authorized officer of the Company. The Lessor shall reimburse the Company for support expenses actually advanced by the Company together with simple interest thereon at the Base Rate per annum, on the earlier to occur of the date following (i) the termination of this Agreement in accordance with Section 8.30(n), or (ii) the date the Facility is sold by or on behalf of the Lessor (and if this Agreement is terminated by the Lessor prior to the sale of the Facility by the Company on behalf of the Lessor, the Lessor shall use reasonable commercial efforts to sell the Facility as soon as is reasonably practical, taking into account the then existing real estate market and the ability to realize sufficient proceeds to pay in full all of the Lessor Investment, Yield thereon and other amount due and payable under the Lease and the other Operative Documents). Reimbursement under subsection (i) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility under Section 15 of the Lease and reimbursement under subsection (ii) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility by the Lessor as contemplated therein. In no event shall the Lessor be obligated to reimburse the Company for Support Expenses except to the extent of available excess proceeds described above. The Company's right to reimbursement pursuant hereto above shall at all times and in all respects be subject and subordinate to the rights of the Lessor to receive full repayment of the Unrecovered Lessor Investments, including Yield thereon. Notwithstanding anything to the contrary contained herein, the Company shall not be entitled to reimbursement for any costs expended or incurred from the Lease Termination Date or Cancellation Date, as applicable, through the Purchase Closing Date, if extended by the Lessor under Section 15(e) of the Lease, in the event that the Company elects to purchase the Facility and elects to remain in possession of the Facility pursuant to the license referenced in Section 15(e) of the Lease. All such costs shall be the responsibility of the Company and shall represent the license fee payable in consideration of the rights afforded under such license.

Appears in 2 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp)

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Support Expenses. All reasonable and necessary costs associated with the continued normal operation, preservation and maintenance of the Facility in the manner provided herein during the period commencing on the date on which the Lease terminates as provided therein, including any Lease Termination Date or Cancellation Date, through the date provided in Section 8.30(n) (“Support Expenses”) shall be timely advanced by the Company on behalf of Lessor subject to reimbursement as hereafter set forth. All such Support Expenses advanced by the Company shall be accounted for by the Company and reported to Lessor pursuant to monthly written operating reports certified by an authorized officer of the Company. The Lessor shall reimburse the Company for support expenses actually advanced by the Company together with simple interest thereon at the Base Rate per annum, on the earlier to occur of the date following (i) the termination of this Agreement in accordance with Section 8.30(n), or (ii) the date the Facility is sold by or on behalf of the Lessor (and if this Agreement is terminated by the Lessor prior to the sale of the Facility by the Company on behalf of the Lessor, the Lessor shall use reasonable commercial efforts to sell the Facility as soon as is reasonably practical, taking into account the then existing real estate market and the ability to realize sufficient proceeds to pay in full all of the Lessor Investment, Yield thereon and other amount due and payable under the Lease and the other Operative Documents). Reimbursement under subsection (i) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility under Section 15 of the Lease and reimbursement under subsection (ii) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility by the Lessor as contemplated therein. In no event shall the Lessor be obligated to reimburse the Company for Support Expenses except to the extent of available excess proceeds described above. The Company's ’s right to reimbursement pursuant hereto above shall at all times and in all respects be subject and subordinate to the rights of the Lessor to receive full repayment of the Unrecovered Lessor Investments, including Yield thereon. Notwithstanding anything to the contrary contained herein, the Company shall not be entitled to reimbursement for any costs expended or incurred from the Lease Termination Date or Cancellation Date, as applicable, through the Purchase Closing Date, if extended by the Lessor under Section 15(e) of the Lease, in the event that the Company elects to purchase the Facility and elects to remain in possession of the Facility pursuant to the license referenced in Section 15(e) of the Lease. All such costs shall be the responsibility of the Company and shall represent the license fee payable in consideration of the rights afforded under such license.

Appears in 2 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp)

Support Expenses. All reasonable and necessary costs associated with the continued normal operation, preservation and maintenance of the Facility Equipment during the period and in the manner provided herein during the period commencing on the date on which the Lease terminates as provided therein, including any Lease Termination Date or Cancellation Date, through the date provided in Section 8.30(n) specified by this Article III ("Support Expenses") shall be timely advanced by the Company on behalf of the Lessor subject to reimbursement as hereafter set forth. All such Support Expenses advanced by the Company shall be accounted for by the Company and reported to the Lessor pursuant to monthly written operating reports certified by an authorized officer of the Company. The Lessor shall reimburse the Company for support expenses Support Expenses actually advanced by the Company with respect to any Equipment, together with simple interest thereon at a rate per annum equal to the Base Rate per annumRate, on the earlier to occur of the date following (i) the termination of this Agreement as to such Equipment in accordance with Section 8.30(n)8.4 hereof, or (ii) the date the Facility such Equipment is sold by or on behalf of the Lessor (and if this Agreement is terminated by the Lessor prior to the sale of the Facility such Equipment by the Company Acquisition Agent on behalf of the Lessor, the Lessor shall use reasonable commercial efforts to sell the Facility such Equipment as soon as is reasonably practical, taking into account the then existing real estate market for equipment of like kind and the ability to realize sufficient proceeds to pay in full all of the Lessor Investment, Yield thereon Non-Recourse Amount and other amount due and payable under the Lease and the other Operative Documents). Reimbursement under subsection (i) of this Section 8.30(l3.2(h) with respect to any Equipment shall be reimbursed made by the Lessor solely out of available any excess of the net proceeds from of the sale of such Equipment Schedule to a Third Party over the Facility under Non-Recourse Amount for such Equipment, pursuant to Section 15 15(a)(ii)(B)(2) of the Lease and reimbursement under subsection (iiLease, provided that the Final Rent Payment or Completion Costs Payment, as applicable, has been made, pursuant to Section 15(a)(ii)(B)(1) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility by the Lessor as contemplated thereinLease). In no event shall the Lessor be obligated to reimburse the Company for Support Expenses except to the extent of available excess proceeds described above. The Company's right to reimbursement pursuant hereto to (i) above shall at all times and in all respects be subject and subordinate to the rights of the Lessor to receive full repayment of the Unrecovered Final Rent Payment or the Completion Costs Payment, as applicable, and all other amounts payable to the Lessor Investments, including Yield thereonunder the Lease. Notwithstanding anything to the contrary contained herein, the Company Lessor shall not be entitled to reimbursement for any costs expended or incurred from the Lease Termination Date or Cancellation Date, as applicable, through the Purchase Closing DateDate for such Equipment, if extended by the Lessor under Section 15(e) of the Lease, in the event that the Company elects to purchase the Facility such Equipment and elects to remain in possession of the Facility such Equipment pursuant to the license referenced in Section 15(e) of the Lease. All such costs shall be the responsibility of the Company and shall represent the license fee payable in consideration of the rights afforded under such license.

Appears in 1 contract

Samples: Master Lease Agreement (Coca Cola Bottling Co Consolidated /De/)

Support Expenses. All reasonable and necessary costs associated ---------------- with the continued normal operation, preservation and maintenance of the Facility during the period and in the manner provided herein during the period commencing on the date on which the Lease terminates as provided therein, including any Lease Termination Date or Cancellation Date, through the date provided in Section 8.30(n) specified by this Article III ("Support Expenses") shall be timely advanced by the Company on behalf of Lessor subject to reimbursement as hereafter set forth. All such Support Expenses advanced by the Company shall be accounted for by the Company and reported to Lessor pursuant to monthly written operating reports certified by an authorized officer of the Company. The Lessor shall reimburse the Company for support expenses actually advanced by the Company together with simple interest thereon at the Base Rate per annum, on the earlier to occur of the date following (i) the termination of this Agreement in accordance with Section 8.30(n)8.4 hereof, or (ii) the date the Facility is sold by or on behalf of the Lessor (and if this Agreement is terminated by the Lessor prior to the sale of the Facility by the Company Acquisition/Construction Agent on behalf of the Lessor, the Lessor shall use reasonable commercial efforts to sell the Facility as soon as is reasonably practical, taking into account the then existing real estate market and the ability to realize sufficient proceeds to pay in full all of the Lessor Investment, Yield thereon and other amount due and payable under the Lease Lease, the Investment Agreement and the other Operative Documents). Reimbursement under subsection (i) of this Section 8.30(l3.2(k) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility under Section 15 of the Lease and reimbursement under subsection (ii) of this Section 8.30(l3.2(k) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility by the Lessor as contemplated therein. In no event shall the Lessor be obligated to reimburse the Company for Support Expenses except to the extent of available excess proceeds described above. The Company's right to reimbursement pursuant hereto above shall at all times and in all respects be subject and subordinate to the rights of the Lessor to receive full repayment of the Unrecovered Lessor InvestmentsAdvances (and the Lease Participants to receive full repayment of their Lease Participant Advances), including Yield thereon. Notwithstanding anything to the contrary contained herein, the Company shall not be entitled to reimbursement for any costs expended or incurred from the Lease Termination Date or Cancellation Date, as applicable, through the Purchase Closing Date, if extended by the Lessor under Section 15(e) of the Lease, in the event that the Company elects to purchase the Facility and elects to remain in possession of the Facility pursuant to the license referenced in Section 15(e) of the Lease. All such costs shall be the responsibility of the Company and shall represent the license fee payable in consideration of the rights afforded under such license.

Appears in 1 contract

Samples: Support Agreement (Us Xpress Enterprises Inc)

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Support Expenses. All reasonable and necessary costs associated with the continued normal operation, preservation and maintenance of the Facility in the manner provided herein during the period commencing on the date on which the Lease terminates as provided therein, including any Lease Termination Date or Cancellation Date, through the date provided in Section 8.30(n) (“Support Expenses”) shall be timely advanced by the Company on behalf of Lessor subject to reimbursement as hereafter set forth. All such Support Expenses advanced by the Company shall be accounted for by the Company and reported to Lessor pursuant to monthly written operating reports certified by an authorized officer of the Company. The Lessor shall reimburse the Company for support expenses actually advanced by the Company together with simple interest thereon at the Base Rate per annum, on the earlier to occur of the date following (i) the termination of this Agreement in accordance with Section 8.30(n), or (ii) the date the Facility is sold by or on behalf of the Lessor (and if this Agreement is terminated by the Lessor prior to the sale of the Facility by the Company on behalf of the Lessor, the Lessor shall use reasonable commercial efforts to sell the Facility as soon as is reasonably practical, taking into account the then existing real estate market and the ability to realize sufficient proceeds to pay in full all of the Lessor Investment, Yield thereon and other amount due and payable under the Lease and the other Operative Documents). Reimbursement under subsection (i) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility under Section 15 of the Lease and reimbursement under subsection (ii) of this Section 8.30(l) shall be reimbursed by the Lessor solely out of available excess proceeds from the sale of the Facility by the Lessor as contemplated therein. In no event shall the Lessor be obligated to reimburse the Company for Support Expenses except to the extent of available excess proceeds described above. The Company's ’s right to reimbursement pursuant hereto above shall at all times and in all respects be subject and subordinate to the rights of the Lessor to receive full repayment of the Unrecovered Lessor Investments, including Yield thereon. Notwithstanding anything to the contrary contained herein, the Company shall not be entitled to reimbursement for any costs expended or incurred from the Lease Termination Date or Cancellation Date, as applicable, through the Purchase Closing Date, if extended by the Lessor under Section 15(e) of the Lease, in the event that the Company elects to purchase the Facility and elects to remain in possession of the Facility pursuant to the license referenced in Section 15(e) of the Lease. All such costs shall be the responsibility of the Company and shall represent the license fee payable in consideration of the rights afforded under such license.

Appears in 1 contract

Samples: Investment and Participation Agreement (Protective Life Insurance Co)

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