Budgeted Operating Expenses definition
Budgeted Operating Expenses means, for any period, the Operating Expenses budgeted for such period as set forth in the Approved Budget or Interim Budget, as applicable.
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses budgeted for such calendar month as set forth in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that, the Budgeted Operating Expenses shall exclude any Operating Expenses which are to be paid in relation to the Hotel Property in accordance with the Approved Hotel Operating Agreement from the Manager Accounts or the Approved FF&E Account and during the continuance of a Trigger Period such greater amount as described in item (ii) above shall in no event exceed 105% of the amount specified in clause (i) of this definition without the prior written consent of Lender, not to be unreasonably withheld, delayed or conditioned, provided that no such consent shall be required in connection with expenditures for non‑discretionary items and expenditures required to be made by reason of the occurrence of any emergency (i.e., an unexpected event that threatens imminent harm to persons or property at the Property) and with respect to which it would be impracticable, under the circumstances, to obtain Lender's prior consent thereto.
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that during the continuance of a Trigger Period such greater amount, excluding amounts spent on Non-Discretionary Items, may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed.
Examples of Budgeted Operating Expenses in a sentence
For example: Total 2011 Budgeted Operating Expenses divided by Total 2010 CISPRI Weighted Barrels.
During the continuance of a Cash Flow Sweep Period, Borrower shall not accept any remittance from the Mortgage Loan Cash Management Account in respect of Property expenditures that are not Budgeted Operating Expenses unless approved by Lender in writing.
The Issuer may make changes to the Operating Budget at the time of the addition of any Additional Data Centers to reflect the Budgeted Operating Expenses reasonably determined by the applicable Manager for such Additional Data Centers, with the Budgeted Operating Expenses for the calendar month and year of such addition being adjusted pro rata based on the period from the date of addition of such Additional Data Centers through the last day of such calendar month or such year, as applicable.
However if the payments by Tenant for Budgeted Operating Expenses for the previous year exceeded the actual aggregate amount incurred by Landlord, then Tenant may deduct the excess amount from the next monthly payment of Base Monthly Rent due from Tenant.
The Manager shall adjust the Budgeted Operating Expenses for any Additional Data Centers added within a Collection Period pro rata based on the period from the date of addition of such Additional Data Centers through the last day of such Collection Period and the Budgeted Operating Expenses for any Additional Data Centers, as reasonably determined by the Manager at the time of addition of such Additional Data Centers.
More Definitions of Budgeted Operating Expenses
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower’s and/or Operating Lessee’s actual Operating Expenses for such month, except that during the continuance of a Trigger Period such greater amount may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed.
Budgeted Operating Expenses means with respect to any calendar month, (i) an amount equal to the operating expenditures for such calendar month in the Approved Budget, or (ii) such greater amount as shall equal Borrower’s actual operating expenditures for such month, provided that such greater amount may in no event exceed 105% of the amount specified in clause (i) without the prior written consent of Lender, which, so long as no Event of Default has occurred and is continuing, shall not be unreasonably withheld or delayed.
Budgeted Operating Expenses means the average monthly operating expenses of the Rig set out in the Budget.
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that during the continuance of a Cash Trap Period such greater amount may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed, except no such consent or limitation shall apply to non-discretionary items such as insurance, utilities and charges under the Declaration or By-Laws.
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower’s actual Operating Expenses for such month, as notified by Borrower to Lender in writing not less than 10 Business Days prior to the applicable Payment Date, except that during the continuance of a Trigger Period, Initial Cash Flow Reserve Period or Mezzanine Loan Event of Default such greater amount may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then applicable Approved Annual Budget with respect to such line item for such calendar month, in each case without the prior written consent of Lender, not to be unreasonably withheld, delayed or conditioned.
Budgeted Operating Expenses. ’ means any invoiced and anticipated ordinary fees (being amounts accrued in respect of fees due for payment on a date other than a Note Payment Date as calculated in accordance with the notice provided by the Cash Administrator to the Issuer on the Closing Date and each Calculation Date thereafter) and expenses and any tax due and payable to any taxing authority having the power to tax the Issuer (including the Irish Revenue Commissioners but excluding in respect of any payment of the Issuer Profit Amount) incurred in respect of each Note Payment Date and payable by the Issuer on each Note Payment Date (or on such other date as they may fall due) to any Operating Creditor under the terms of the Transaction Documents to which they are a party or, following the date on which a Note Enforcement Notice is delivered by the Trustee, to any Secured Party.
Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses budgeted for such calendar month as set forth in the then-applicable Annual Budget, or (ii) such greater amount as shall equal Borrower’s actual Operating Expenses for such month, except that during the continuance of a Trigger Period such greater amount shall in no event exceed 110% of the amount specified in clause (i) of this definition without the prior written consent of Lender, not to be unreasonably withheld, delayed or conditioned, provided that no such consent shall be required in connection with expenditures for non-discretionary items (e.g. line expenses for Taxes, insurance premiums, governmental compliance and regulatory charges, utility expenses, ground rent and expenses necessary to maintain the Borrower in good standing within each jurisdiction in which it does business) and expenditures required to be made by reason of the occurrence of any emergency (i.e., an unexpected event that threatens imminent harm to persons or property at or adjacent to any of the Properties) and with respect to which it would be impracticable, under the circumstances, to obtain Lender’s prior consent thereto, which line items shall be adjusted to reflect actual increases in such expenses and shall not require Lender approval hereunder.