Basic Expenses definition

Basic Expenses means the estimated aggregate amount of expenses, as set forth in the Budget, to be incurred by the Association during the applicable Fiscal Year:
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Basic Expenses means the estimated aggregate amount of expenses as set forth in the Budget, to be incurred by the Club during the applicable fiscal year (a) to operate, manage, maintain, administer, improve and repair the Property, including the Units, the Common Area and the Common Furnishings, (b) to provide for reserves to ensure payment when due of the cost of capital expenditures relating to the repair or restoration of the Units and/or the Common Area and the repair and replacement of Common Furnishings or for such other purposes as are required by good business practice (the "Reserve Expenses"), (c) to provide for a fund to account for the possibility that some Maintenance Fees may not be paid on a current basis, and (d) to provide for the payment of the fee of the Managing Agent. Without limiting the generality of the foregoing, "Basic Expenses" shall include: all charges, costs and expenses whatsoever incurred by or on behalf of the Club for or in connection with (i) the administration and operation of the Property (ii) taxes assessed against the Club, the Property and/or the Common Furnishings and the maintenance fees and other similar govern-mental charges levied on or attributable to the Property, including, without limitation any added value, hotel transient occupancy tax or any governmental charge levied in lieu thereof (iii) insurance, including fire and other casualty and liability insurance, obtained pursuant to this Declaration, (iv) any liability whatsoever for loss or damage arising out of or in connection with the Property or any fire, accident or nuisance therein, (v) cost of repair reinstatement, rebuilding and replacement of the Property and/or the Common Furnishings therein, (vi) the cost of all basic utility services, including water, electricity, garbage disposal, telephone and any other similar service attributable to the Units and the Common Areas, (vii) the unpaid share of any Maintenance Fee levied during the previous fiscal year against any Member who has defaulted in payment thereof to the extent that the same becomes uncollectable, and (viii) wages, accounting and legal fees, management fees, maid service, and cleaning fees, and other necessary expenses of upkeep, maintenance, management and operation actually incurred with respect to the Property. Basic Expenses shall not include any expenses constituting a Personal Charge. Basic Expenses for any applicable fiscal year subsequent to the 1986 fiscal year shall not exceed 120% of the Basi...
Sample 1
Basic Expenses means the estimated aggregate amount of expenses, as set forth in the Budget, to be incurred by the Club during the applicable Fiscal Year (a) to operate, manage, maintain, improve and repair the Club Maintained Property, including the interiors of the Villas, and the Common Furnishings therein, and to administer the Club Membership program; (b) to provide for the payment of those expenses payable by the equitable owner of the Property which cannot be segregated and equitably allocated exclusively to the Club Maintained Property or the Annexable Property; (c) to provide for the collection of funds on an annual basis over the useful life of improvements to the Club Maintained Property in an amount sufficient to meet the Reserve Expenses; (d) to provide for a contingency fund in the event that some Assessments may not be paid on a current basis; (e) to provide for the payment of the fees of the Managing Agent for services rendered with respect to the operation of the Club program and the Club Maintained Property; (f) to pay the costs of maintaining and operating the Access Road, including any governmental fees charged for use of the Access Road; and (g) any trustee’s fees charged under the Trust Agreement. Without limiting the generality of the foregoing, Basic Expenses shall include: (1) all charges, costs, and expenses whatsoever incurred by the Club for or in connection with the maintenance, administration and operation of the Club Maintained Property; (2) taxes assessed against the Club Maintained Property and the Common Furnishings therein; (3) assessments and other similar governmental charges levied on or attributable to the Club Membership program; (4) insurance obtained pursuant to the Declaration; (5) any liability whatsoever for loss or damage arising out of or in connection with the Club Membership program or any fire, accident, or nuisance within the Property; (6) cost of repair, reinstatement, rebuilding and replacement of the Buildings, the Villas and the Club Maintained Property or the Common Furnishings therein; (7) the cost of all basic utility services, including water, electricity, natural gas, garbage disposal, telephone and any other similar service attributable to the Club Maintained Property; (8) the unpaid share of any Assessment levied during the previous Fiscal Year against any Membership for which a default in payment thereof has occurred, to the extent that the same becomes uncollectible; (9) the cost of maintenance, insurance an...
Sample 1

Examples of Basic Expenses in a sentence

  • Each Owner hereby agrees that any amount assessed and collected in excess of the amount required to meet the Basic Expenses (other than Reserve Expenses) shall be applied to reduce the amount assessed to meet the Basic Expenses for the next succeeding Fiscal Year.

  • Three tiers of usage of the Welsh Procurement card are envisaged: Tier 1 – Travel, Subsistence and Basic Expenses specifically or Tier 2 –Department Level (including Travel, Subsistence and Expenses).

  • RK Finance Minister’s Order No.613 of December 4, 2015 adopted the Regulation on Granting Access for Individuals Included in the List of Entities and Individuals Linked to Financing of Terrorism and Extremism to Frozen Funds for Covering Basic Expenses.

  • ILC will inform VA promptly of such dismissal and the date thereof.Policies regarding the payment of fees are stated in the Basic Expenses and Fees section of this catalog.

  • Each Member hereby agrees that in the event the Board shall determine at any time during the Fiscal Year that the Budget is, or will be, in excess of the amounts needed to meet the Basic Expenses (other than Reserve Expenses) for such Fiscal Year, the Board shall have the authority, exercisable in its sole discretion, to cause to be prepared an estimate of the amount of such excess, which excess shall then be deposited in the Reserve Account as a contribution to reserves.

  • The Basic Expenses reflected in the reduced total Budget shall then be allocated among the Owners as provided in Section 5.4 hereof.

  • Some common expenses could be:• rent• cell phone• internet• food• personal items, like shampoo and clothing• transportationList these under Basic Expenses.

  • Aerial view of proposed Spring Creek (Oak) fish barrier project area 12Figure A-1.

  • The Basic Expenses reflected in the reduced total Budget shall then be allocated among the Members as provided in Section 5.05 below.

  • The Residential Association shall have the power and duty to determine, levy, collect and enforce Residential Assessments against the Unit Owners in the manner provided in ARTICLE VI and ARTICLE VII hereof in order to pay the Residential Basic Expenses and do all things necessary to enforce each Unit Owner’s obligations hereunder.

Related to Basic Expenses

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Basic living expenses means the cost of basic food, shelter, and any other expenses of a Domestic Partner which are paid at least in part by a program or benefit for which the partner qualified because of the Domestic Partnership. The individuals need not contribute equally or jointly to the cost of these expenses as long as they agree that both are responsible for the cost.

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • Election expenses means expenses incurred, whether before, during or after the election, on account of, or in respect of, the conduct or management of the election.

  • Transition Expenses The reasonable costs (including reasonable attorneys’ fees) of the Backup Servicer incurred in connection with the transferring the servicing obligations under this Agreement and amending this Agreement to reflect such transfer in an amount not to exceed $100,000.

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Distribution Expenses means the reasonable costs, excluding overhead, incurred by ZIOPHARM that are directly and reasonably allocable to the distribution of a ZIOPHARM Product with respect to a particular country where such ZIOPHARM Product has been launched, excluding any costs included as a deduction in calculating Net Sales.

  • Claim Expenses means reasonable documented attorneys’ fees and all other reasonable documented out-of-pocket costs, expenses and obligations (including experts’ fees, travel expenses, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim, including any Action relating to a claim for indemnification or advancement brought by an Indemnified Party as contemplated in Section 7.5.

  • Trust Expenses means any liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Trust.

  • Reimbursable Expenses means all assignment-related costs [such as travel, translation, report printing, secretarial expenses, subject to specified maximum limits in the Contract].

  • Common Expenses means expenditures made by or financial liabilities of the association, together with any allocations to reserves.

  • Cash Expenses means, for any period, the operating expenses for the operation of the Property as set forth in an Approved Annual Budget to the extent that such expenses are actually incurred by Borrower minus any payments into the Tax and Insurance Escrow Fund.

  • Class Expenses means expenses incurred by a particular Class in connection with a shareholder services arrangement or a distribution plan that is specific to such Class or any other differing share of expenses or differing fees, in each case pursuant to a plan adopted by the Trust pursuant to Rule 18f-3 under the 1940 Act, as such plan or Rule may be amended from time to time;

  • Liquidation Expenses With respect to a Mortgage Loan in liquidation, unreimbursed expenses paid or incurred by or for the account of the Master Servicer or the related Servicers, such expenses including (a) property protection expenses, (b) property sales expenses, (c) foreclosure and sale costs, including court costs and reasonable attorneys’ fees, and (d) similar expenses reasonably paid or incurred in connection with liquidation.

  • REIT Expenses means (i) costs and expenses relating to the formation and continuity of existence and operation of the General Partner and any Subsidiaries thereof (which Subsidiaries shall, for purposes hereof, be included within the definition of General Partner), including taxes, fees and assessments associated therewith, any and all costs, expenses or fees payable to any director, officer, or employee of the General Partner, (ii) costs and expenses relating to any public offering and registration of securities by the General Partner and all statements, reports, fees and expenses incidental thereto, including, without limitation, underwriting discounts and selling commissions applicable to any such offering of securities, and any costs and expenses associated with any claims made by any holders of such securities or any underwriters or placement agents thereof, (iii) costs and expenses associated with any repurchase of any securities by the General Partner, (iv) costs and expenses associated with the preparation and filing of any periodic or other reports and communications by the General Partner under federal, state or local laws or regulations, including filings with the Commission, (v) costs and expenses associated with compliance by the General Partner with laws, rules and regulations promulgated by any regulatory body, including the Commission and any securities exchange, (vi) costs and expenses associated with any 401(k) plan, incentive plan, bonus plan or other plan providing for compensation for the employees of the General Partner, (vii) costs and expenses incurred by the General Partner relating to any issuing or redemption of Partnership Interests, and (viii) all other operating or administrative costs of the General Partner incurred in the ordinary course of its business on behalf of or in connection with the Partnership.

  • Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.

  • Basic Costs means all direct and indirect costs and expenses incurred in connection with the Building as more fully defined in Exhibit C attached hereto.

  • Insured Expenses Expenses covered by an Insurance Policy or any other insurance policy with respect to the Mortgage Loans.

  • Liquidity Expenses means all Liquidity Obligations other than (i) the principal amount of any Drawings under the Liquidity Facilities and (ii) any interest accrued on any Liquidity Obligations.

  • Administration Expenses means all fees, disbursements, expenses, costs, taxes and any other amounts incurred or payable by the Plaintiffs, Class Counsel or otherwise for the approval, implementation and operation of this Settlement Agreement, including the costs of notices, but excluding Class Counsel Fees and Class Counsel Disbursements.

  • Current Expenses means operating costs other than personal services and shall not

  • Indemnification Expenses shall have the meaning set forth in Section 6.11(a).

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk’s office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replace- ments and office automation and information technol- ogy equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.