Approved Operating Expense means an operating expense of the Property set forth on the Approved Annual Budget.
Approved Operating Expense means an Operating Expense of the applicable Individual Property set forth on the Approved Annual Budget.
Approved Operating Expense means an operating expense of the applicable Individual Property set forth on the Annual Budget or, if a Trigger Period is continuing, the Approved Annual Budget. For the avoidance of doubt, (i) only management fees and sub-management fees equal to or less than the Management Fee Cap shall be considered an Approved Operating Expense; (ii) only Sponsor Corporate Expenses equal to or less than $6,000,000 (in the aggregate in any twelve month period) shall be deemed Approved Operating Expenses and (iii) only DDR Shared Services Fees equal to or less than the DDR Shared Services Fee Cap (in the aggregate in any twelve month period) shall be deemed Approved Operating Expenses.
Examples of Approved Operating Expense in a sentence
These costs are used in calculating the Approved Operating Expense (AOE), one of the factors in calculating some State aid to the school district.
The sum of Selected Operating Aid per pupil multiplied by TAPU plus Incentive Operating Aid may not exceed 95 percent of the district's Approved Operating Expense used for aid calculations in the current school year.
These costs are used in calculating the Approved Operating Expense (AOE), one of the factors in calculating overall State aid to the school district.
Approval by the Director shall constitute authorization for the withdrawal of funds from the Revenue Account for payment of the Approved Operating Expense and Parking Tax.
Table 1: 2018-19 Wealth, Expenditure, Revenue, and Aid Data Ranked by Approved Operating Expense Per Pupil Deciles for All Major Districts Excluding New York City AOE/TAPU Deciles (upper limit shown)DECILE AVERAGE* 2018-19Enrollment AOE per TAPU for Exp.
More Definitions of Approved Operating Expense
Approved Operating Expense means an Operating Expense or capital expense of the applicable Individual Property set forth on the Approved Annual Budget, provided, however, that the amount of any management fees to be included as an Approved Operating Expense shall not exceed an amount equal to (x) in the case of any Affiliated Manager, two percent (2%) of Gross Rents or (y) in the case of any other Manager, three percent (3%) of Gross Rents regardless of the amount set forth for management fees on the Approved Annual Budget.
Approved Operating Expense means an operating expense of or capital expense for the Property set forth on the Approved Annual Budget, subject to line item variances of up to five percent (5%) per line item which variances shall not be subject to Lender’s consent or approval.
Approved Operating Expense means an operating expense of the Property (i) set forth on the Approved Annual Budget, (ii) for real estate taxes, Insurance Premiums, electric, gas, oil, water, sewer or other utility service, (iii) actual property management fees due and payable to the Manager under the Management Agreement, such amount not to exceed two and three quarters percent (2.75%) of Net Rental Income or (iv) that has been approved by Administrative Agent, such approval not to be unreasonably withheld or delayed.
Approved Operating Expense means during a Cash Management Period, operating expenses incurred by any Borrower that are (i) included in the Approved Operating Budget for the current calendar month, (ii) for Real Estate Taxes, Insurance Premiums, electric, gas, oil, water, sewer or other utility service to a Property, (iii) Emergency Expenditures or (iv) approved in writing by Lender which approval shall not be unreasonably withheld, conditioned, or delayed.
Approved Operating Expense means an operating expense of the Property set forth on the Approved Annual Budget. "Assignment of Management Agreement" shall mean that certain Conditional Assignment of Management Agreement dated as of thedate hereof among Lender, Borrower and Manager, as the same may be amended, restated, replaced, extended, renewed, supplemented orotherwise modified from time to time.
Approved Operating Expense means an operating expense of the applicable Individual Property set forth on the Annual Budget or, if a Trigger Period is continuing, the Approved Annual Budget. For the avoidance of doubt, only management fees and sub management fees equal to or less than the Management Fee Cap shall be considered an Approved Operating Expense.
Approved Operating Expense means an operating expense of the Property set forth on the Approved Annual Budget. “Assignment of Leases” shall mean that certain first priority Assignment of Leases and Rents, dated as of the date hereof, from Borrower, as assignor, to Lender, as assignee, assigning to Lender all of Borrower’s interest in and to the Leases and Rents of the Property as security for the Loan, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. “Assignment of Management Agreement” shall mean that certain Conditional Assignment of Management Agreement dated as of the date hereof among Lender, Borrower and Manager, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. “ATR” shall mean Technical Aid Corporation d/b/a Advantage Technical Resourcing American, Inc., as tenant under the ATR Lease with respect to the ATR Premises. “ATR Lease” shall mean that certain Lease Agreement between Xxxxxxxx, as landlord, and ATR, as tenant, dated as of April 30, 2007, as amended by that certain Amendment dated October 16, 2007, that certain Second Amendment dated March 14,m 2012, that certain Third Amendment dated July 3, 2015, that certain Fourth Amendment dated July 29, 2015, that certain Fifth Amendment dated April 18, 2017, that certain Sixth Amendment dated July 25, 2019, and as the same may be further amended, restated, replaced, supplemented or otherwise modified from time to time in accordance with this Agreement. “ATR Premises” shall mean that portion of the Property leased to ATR pursuant to the ATR Lease. “ATR Tenant Improvements” shall mean the tenant improvement work being performed in the ATR Premises, as approved by Lender in accordance with the terms and provisions of this Agreement. “ATR Tenant Improvement Reserve Funds” shall have the meaning set forth in Section 7.5.1 hereof. “Award” shall mean any compensation paid by any Governmental Authority in connection with a Condemnation in respect of all or any part of the Property. “Bail-In Action” shall have the meaning set forth in Section 10.23 hereof. “Bail-In Legislation” shall have the meaning set forth in Section 10.23 hereof. “Bankruptcy Code” shall mean Title 11 U.S.C. § 101 et seq., and the regulations adopted and promulgated pursuant thereto (as the same may be amended from time to time). “Bankruptcy Action” shall mean the occurrence of any one or more the of the following: with respect to any Person (i) such Person files...