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 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.
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.
Examples of Approved Operating Expense in a sentence
All fees payable to the Management Consultant shall be an Approved Operating Expense.
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.
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.
Variation in yield shall not be looked upon as non-conforming, as long as the variation is within the limits acceptable by GMP’s.
The EBP is open to accepting data from other jurisdictions as part of the data collection process.
More Definitions of Approved Operating Expense
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 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 (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 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 Property set forth on the Approved Annual Budget. “Assignment of Leases” shall mean, each individually and/or collectively, as the context may require, those certain first priority Assignments of Leases and Rents, each dated as of the date hereof, from the applicable Borrower, as assignor, to Lender, as assignee, as any of the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. “Assignment of Management Agreement” shall mean that certain Assignment of Management Agreement and Subordination of Management Fees dated as of the date hereof among Lender, Borrower and Manager, as the same may be amended, restated, replaced, extended, renewed, supplemented or otherwise modified from time to time. “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. “Bank” shall be deemed to refer to the bank or other institution maintaining the Clearing Account pursuant to the Clearing Account Agreement. “Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy”, as amended from time to time, and any successor statute or statutes and all rules and regulations from time to time promulgated thereunder, and any comparable foreign laws relating to bankruptcy, insolvency or creditors’ rights. “Bankruptcy Event” shall mean the occurrence of any one or more of the following: (i) Borrower or any SPE Component Entity shall commence any case, proceeding or other action (A) under the Bankruptcy Code and/or any Creditors Rights Laws seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, liquidation or dissolution or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets; (ii) Borrower or any SPE Component Entity shall make a general assignment for the benefit of its creditors; (iii) any Restricted Party (or Affiliate thereof) files, or joins or colludes in the filing of, (A) an involuntary petition against Borrower or any SPE Component Entity under the Bankruptcy Code or any other Creditors Rights Laws, or solicits or causes to be solicited or colludes with petitioning creditors for any involuntary petition under the Bankruptcy Code or any other Creditors Rights Laws against Borrower or any SPE Component Enti...
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 Site Centers Shared Services Fees equal to or less than the Site Centers Shared Services Fee Cap (in the aggregate in any twelve month period) shall be deemed Approved Operating Expenses.
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.