Facility Expenses definition

Facility Expenses as used herein shall mean and include all personnel and other expenses incurred in connection with the operation of the Facility, including, without limitation, all expenses described in Section 4 below, but specifically excluding any Management Fees and all Facility Financing.

Facility Expenses shall have the meaning ascribed to such term in the Management Agreements.

Facility Expenses shall include all expenses incurred in the course of the operation of the Facility during the Lease Term including, but not limited to, the Service Fee, the salaries, bonuses, commissions, state and federal payroll and social security tax obligations and benefits paid to or on behalf of the employees of the Facility, any out of pocket costs incurred by [Emeritus/EmeriCare] in preparing the Facility tax returns and any taxes due thereunder and any penalties or interest related to the payment thereof; the cost of all Facility supplies, utilities and equipment; any expenses incurred by [Emeritus/EmeriCare] in billing for services rendered at the Facility and/or in collecting or attempting to collect the accounts receivable of the Facility; and the cost of all insurance premiums due with respect to any insurance policies or programs which provide coverage for the Facility and any deductible, retention amounts or security payments related to claims or potential claims made under such insurance policies.

Examples of Facility Expenses in a sentence

• Payment of the Aggregate Facility Expenses, excluding the Aggregate Base Fee, shall be made in the ordinary course of business.

• If the termination occurs on a day other than the last day of a calendar month, the parties shall exclude such prorated amounts of the Gross Revenues and Facility Expenses (and such other amounts as may be necessary) applicable to such Facility for such calendar month, as mutually agreed in their reasonable judgment, in the calculation of Aggregate Gross Revenues and Aggregate Facility Expenses (and such other amounts as may be necessary) for the calendar month in which the termination occurred.

• The parties agree that so long as a Facility is subject to this Agreement, all Working Capital and all Gross Revenues of such Facility shall be pooled pursuant to this Agreement and disbursed to pay all Aggregate Facility Expenses, fees and other amounts due Manager and TRSes (not including amounts due pursuant to Section 15.05 of the Management Agreements) with respect to the Facilities and that the corresponding provisions of each Management Agreement shall be superseded as provided in Section 3.03.

• Except as set forth in this Section 7.01, the Gross Revenues and Facility Expenses of the Additional Facility earned or incurred prior to the date that an Additional Facility was made subject to this Agreement will be excluded from Aggregate Gross Revenues and Aggregate Facility Expenses unless otherwise agreed by TRSes and Manager.

• All of the on-site personnel of the Facility, including the ---------- community director, business manager and the "wellness director", if applicable, shall be the employees of Manager but the salaries, bonuses, commissions, state and federal payroll and social security tax obligations and benefits paid to or on behalf of such on-site employees shall be deemed to be included in the Facility Expenses and thus shall be paid from the Facility Checking Account.

More Definitions of Facility Expenses

Facility Expenses has the meaning set forth in Section 5(c) hereof.

Facility Expenses means the sum of the following: (A) All expenses of Sunrise, the Tenants and their Affiliates with respect to the facilities leased pursuant to the Continuing Leases, consistently allocated among all properties owned, leased or managed by Sunrise in accordance with its system-wide financial allocations, practices and policies, provided that for purposes of calculating Facility Expenses the following shall be excluded: (i) any management fee payable to the manager or operator (whether or not Sunrise or its Affiliate is the manager or operator); (ii) depreciation; and (iii) amortization; (B) Cash lease payments made by a Tenant (including, without limitation, with respect to the ground lease for the facility known as The Colonnades); and (C) An annual capital expenditure reserve of $2,500 per unit, based on 2011 numbers, which reserve shall be increased by three percent (3%) annually.

Facility Expenses means any expenses or obligations related to the facilities or locations where the Services are performed, which shall include, without limitation, the ongoing expenses, and costs in connection with HVAC maintenance or repair costs, security services, storm and sewer, garbage, housekeeping, data, telecommunications, water, electric, gas or other utilities and any other similar costs or expenses. Facility Expenses also includes any initial, one- time costs or expenses in connection with the Services, which shall include, without limitation, installation of signage, installation of cabling, wiring or other telecommunications infrastructure, or any other fixtures or similar expenses.

Facility Expenses means those costs and expenses directly related to the operating costs of the Facilities, which expenses and payment of expenses shall be administered by the Owner from the Facilities' income derived as further set forth herein. Facility Expenses shall not include debt service and property taxes.

Facility Expenses means for the requisite period, the sum of the following items:

Facility Expenses shall have the meaning assigned to that term in Section 13.3.

Facility Expenses is defined in Section 8.02.