Extraordinary Expense definition
Extraordinary Expense shall have the meaning set forth in Section 5.1.11(e) hereof.
Extraordinary Expense means an extraordinary operating expense or capital expense not set forth in the Approved Annual Budget or allotted for in the Recurring Replacement Reserve Sub-Account.
Extraordinary Expense means an operating expense or capital expenditure with respect to the Property that (i) is not set forth on the Annual Budget and (ii) is not subject to payment by withdrawals from the Replacement Reserve. Borrower shall deliver promptly to Lender a reasonably detailed explanation of such proposed Extraordinary Expense for the approval of Lender (such approval not to be unreasonably withheld or delayed).
Examples of Extraordinary Expense in a sentence
In the event that, during any Trigger Period, B▇▇▇▇▇▇▇ proposes to incur an extraordinary operating expense or capital expense that is not consistent with the Approved Annual Budget (each an “Extraordinary Expense”), Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Expense for L▇▇▇▇▇’s approval, such approval not to be unreasonably withheld, conditioned or delayed.
More Definitions of Extraordinary Expense
Extraordinary Expense means an extraordinary operating expense or extraordinary capital expenditure not set forth in the Annual Budget.
Extraordinary Expense. As defined in the Indenture.
Extraordinary Expense means, with respect to any Fiscal Year, any operating expense in excess of $250,000 or capital expenditure in excess of $250,000 that was not set forth in the Approved Annual Budget for such Fiscal Year.
Extraordinary Expense shall have the meaning set forth in Section 4.1.6(d).
Extraordinary Expense means (a) a material extraordinary operating expense or capital expense not set forth in the Approved Annual Budget or allotted for in the Recurring Replacement Reserve Sub-Account and (b) the excess of Operating Expenses over those set forth in the Approved Annual Budget for Interest Accrual Periods prior to the Interest Accrual Period in which such determination is being made resulting from revenues which have increased over those set forth in the Approved Annual Budget for which, with respect to items set forth in this clause (b) no Lender approval is required.
Extraordinary Expense shall have the meaning set forth in SECTION 2.6.2(b).
Extraordinary Expense means an expense over $500 for any particular service