Timing of and Limitations on Reimbursements. (a) Expenses incurred by the Advisor on behalf of the Company and the Operating Partnership and payable pursuant to this Article X shall be reimbursed no less frequently than monthly to the Advisor. The Advisor shall prepare a statement documenting the expenses of the Company and the Operating Partnership during each quarter, and shall deliver such statement to the Company within 45 days after the end of each quarter. Subject to the Excess Expense Guidelines, the Company or the Operating Partnership may advance funds to the Advisor for expenses the Advisor anticipates will be incurred by the Advisor within the current month and any such advances shall be deducted from the amounts reimbursed by the Company or the Operating Partnership to the Advisor.
Appears in 19 contracts
Samples: Advisory Agreement (Griffin Capital Essential Asset REIT, Inc.), Advisory Agreement (Griffin Capital Essential Asset REIT II, Inc.), Advisory Agreement (Griffin Capital Essential Asset REIT II, Inc.)
