Borrower Expenses means all cash expenses of the Borrower, and all cash expenses of the Trust reimbursed or otherwise funded by the Borrower, in each case excluding fees paid to the Manager and permitted hereunder.
Borrower Expenses means the sum of (a) operation and maintenance expenses of the Borrower, determined at $[***] per kW (escalating at [***]% per annum) of installed nameplate capacity, prorated for any capacity not available for a full year, (b) administrative expenses of the Borrower, determined at $[***] per kW of installed nameplate capacity and (c) insurance (including property and business interruption insurance) expenses of the Borrower determined at a price per kW of installed nameplate capacity based on the premiums at the time of a Borrowing for a Current Project as set forth in the Sizing Model.
Borrower Expenses means, for purposes of the use of such term in the Flow of Funds, Aircraft Asset Expenses, Operating Expenses and Related Expenses; provided that Borrower Expenses as used in the Flow of Funds shall not include (a) Borrower Income Tax Expenses (to the extent a separate allocation is provided therefor in the Flow of Funds), (b) expenses that have been or are properly payable or reimbursable with funds withdrawn from the Maintenance Reserve Account or the Security Deposit Account, or with the application of funds received from an insurance payment or other third party payment relating to casualty or condemnation (and in either such case such funds are actually available to the Borrower for such purposes and, for the avoidance of doubt, such expenses shall be Borrower Expenses to the extent such funds are not actually available to the Borrower for such purpose), (c) any expenses and costs attributable to Approved Asset Improvements, which costs (assuming satisfaction of all applicable conditions precedent and other requirements of this Agreement) could properly be the subject of reimbursement through an Improvement Advance, or (d) Overhead Expenses (as defined in the Servicing Agreement).
Examples of Borrower Expenses in a sentence
Borrower shall pay any Lender Party, on such Lender Party's demand, any and all Borrower Expenses which such Lender Party may pay in connection with the provisions hereof.
The proceeds of the Loans and the Letters of Credit shall be used solely for the purposes permitted under the Governing Agreements and the Constituent Documents of the Borrower Parties, including, if and to the extent permitted under the Governing Agreements, to finance investment activities, to provide working capital, to pay Borrower Expenses and for other permitted purposes (including, for the avoidance of doubt, to pay dividends or distributions on its outstanding equity interest).
The Borrower shall use the proceeds of the Borrowing to pay for Permitted Borrower Expenses in accordance with the Operating Budget payable over the next two Fiscal Quarters.
Notwithstanding the foregoing, Operating Expenses shall in no event include (w) the Management Fee; (x) any Borrower Expenses, (y) any general or administrative expenses of the Manager; or (z) any depreciation or amortization expense with respect to the Containers or generator sets in the Borrower Fleet.
If a directory is given, the program will examine all files in that directory to see if they are appropriate.
More Definitions of Borrower Expenses
Borrower Expenses. For any Collection Period, all out-of-pocket, reasonable costs and expenses of the Borrower payable to third parties during such Collection Period (including costs and expenses permitted to be paid to, or by, the Manager, in connection with the conduct of the Borrower’s business), in each case determined on an accrual basis, including but not limited to the following:
Borrower Expenses means (a) taxes, registration, registered office and filing fees, if any, of the Borrower or any Subsidiary, (b) indemnification obligations paid or payable by Borrower or any Subsidiary to Borrower’s or any Subsidiary’s directors or managers under its Organic Documents, and (c) any other fees or expenses (including indemnities) paid or payable by Borrower or any Subsidiary to any other Person and not prohibited under, or incurred pursuant to or in connection with, the Transaction Documents.
Borrower Expenses has the meaning set forth in Section 9.14(a).
Borrower Expenses means, for purposes of the use of such term in the Flow of Funds, Aircraft Asset Expenses, Operating Expenses and Related Expenses; provided that Borrower Expenses as used in the Flow of Funds shall not include (a) Borrower Income Tax Expenses, (b) expenses that have been or are properly payable or reimbursable with funds withdrawn from the Supplemental Rent Account or the Security Deposit Account, or with the application of funds received from an insurance payment or other third party payment relating to casualty or condemnation (and in either such case such funds are actually available to the Borrower for such purposes and, for the avoidance of doubt, such expenses shall be Borrower Expenses to the extent such funds are not actually available to the Borrower for such purpose), or (c) Overhead Expenses (as defined in the Servicing Agreement).
Borrower Expenses shall have the meaning set forth in Section 101 of the Loan Agreement.
Borrower Expenses means the sum of (a) operation and maintenance expenses of the Borrower, determined at $[***] per kW (escalating at [***]% per annum) of installed nameplate capacity, prorated for any capacity not available for a full year, (b) administrative expenses of the Borrower, determined at $[***] per kW of installed nameplate capacity and (c) insurance (including property and business interruption insurance) expenses of the Borrower determined at per kW of installed nameplate capacity based on the premiums at the time of a Borrowing for a Current Project as set forth in the Sizing Model.
Borrower Expenses means any out-of-pocket expenses for overhead and similar operating costs incurred by the Borrower Group Companies in the ordinary course of business that are unrelated to any particular Aircraft. For the avoidance of doubt, Borrower Expenses shall not include any amount payable on the Loans, Subordinated Indebtedness or under any Derivatives Agreement, nor any Parent expenses or overhead allocated by the Parent to any Borrower Group Company, nor any Servicing Fees, Servicer Administrative Fees or Sales Fees, and Borrower Expenses shall in any event not exceed $150,000 per annum.