Fixed Expenses definition

Fixed Expenses means the greater of: (i) the annualized Actual Fixed Expenses for the Mortgaged Property, or (ii) the Underwritten Fixed Expenses.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Fixed Expenses means the sum of (a) Taxes (based on the most current ▇▇▇▇ annualized, subject to adjustment by Lender to take into account any change in assessment that has not yet been reflected in the most current tax ▇▇▇▇) and (b) Insurance Premiums (based on the most current premium annualized). In making the calculations described herein, applicable line items may be adjusted by Lender in its reasonable discretion (a) to accurately reflect the amounts of any extraordinary non-recurring items in the relevant period and to reflect on a pro rata basis those items on an annual or semi-annual basis, (b) to accurately reflect prevailing market conditions and (c) where applicable, to reflect leases (and projected changes to the applicable line items above) which are either (i) anticipated to terminate within the 90 days of the date of calculation or (ii) executed with creditworthy tenants with rent commencement dates scheduled to occur within 90 days of the date of calculation.

Fixed Expenses means bills for which you have to pay the same amount each month. Loans, rent and car payments are all examples of fixed expenses.

Examples of Fixed Expenses in a sentence

• The Personal Property Rent is based on current usage as reflected on the attached Schedule 1 as "Monthly Fixed Expenses".

• All costs and expenses incurred by Owner and Operator in connection with a Tax Contest shall be Fixed Expenses.

• In the event that the Company elects to terminate without cause by providing pay in lieu of notice in the amount as set out above, the Employee shall be entitled to payment of the Base Salary, the Fixed Expenses, and the continuation of benefits under section 10 hereof during the applicable notice period.

• Operator may, within sixty (60) days following its receipt of Lessee’s notice of termination, pay to Lessee an amount which, when added to the actual aggregate amount of the Income Before Fixed Expenses for the Fiscal Year in question, equals the aggregate GOP Threshold for such Fiscal Year.

• For Demand Response Services, the monthly amount due to the Contractor shall be calculated as follows: the Monthly Allocated Fixed Expenses plus the product of the Variable Cost Revenue Hour Rate and the total number of Revenue Hours plus the invoiced value of fuel used for the My Ride service less the total of fares the Contractor is obligated to collect.

• A minimum of __________ dollars ($_____) shall be maintained in a Fixed Expenses and Contingencies Fund, to be replenished monthly as necessary through a Fixed Expenses Assessment against each Co-owner in an amount proportional to each Co-owner’s percentage equity in the Equipment [ALTERNATIVE 1: …in an amount proportional to each Co-owner’s use of the Equipment for the prior month/prior quarter/other.

• All premiums of for insurance coverage obtained pursuant to this Agreement shall constitute Fixed Expenses or Operating Expenses, as applicable.

• Fixed Expenses (described in Section 6.2) will be allocated based upon the Owners' relative ownership interests in the Aircraft.

• Because Fixed Exp▇▇▇▇▇ are variable to a certain degree when revenues increase or decrease from projected levels, it is necessary to modify the "Fixed Expenses" amount for significant revenues changes.

• Tracking Your Fixed Expenses We often have more control over our fixed expenses than we realize.

More Definitions of Fixed Expenses

Fixed Expenses shall refer to all expense items in the "Supplementary Five Year Expense Detail by Department" included in the Company's Forecast Financial Statements dated March 29, 1996 (other than those expenses that vary as a function of the Company's revenue volume or marketing efforts); and the operative amounts thereof for purposes of comparison shall be the sum of the line item amounts budgeted for Q1-Year 1, Q2-Year 1 and Q3-Year 1.

Fixed Expenses means, to the extent not included in Operating Expenses, (a) an amount equal to amounts put into any maintenance or capital expenditure reserve for such period, plus any amounts expended on maintenance, capital improvements or furniture, fixtures and equipment in excess of those paid from the reserves; (b) all personal property taxes, real estate taxes, assessments, and any other ad valorem taxes imposed on or levied in connection with the Hotels, the installations and the furniture, fixtures and equipment and (less refunds, offsets or credits thereof, and interest thereon, if any, received during the period in question); (c) lease payments other than those paid to Apple REIT or its wholly owned subsidiaries; (d) insurance premiums for all insurance maintained by the Borrower, its Affiliates or any manager of the Hotels with respect to the Hotels, including without limitation, property damage insurance, public liability insurance, and such business interruption or other insurance as may be provided for protection against claim, liabilities and losses arising from the use and operation of any Hotel and losses incurred with respect to deductibles applicable to the foregoing types of insurance;(e) common area maintenance charges; (f) legal fees not involving operation of any Hotel; and (g) all management fees, including without limitation any incentive fees payable to any manager of any Hotel.

Fixed Expenses shall be an amount equal to rental fees payable by Licensee under the Lease.

Fixed Expenses means the fixed overhead expenses of running the Acquiror’s business which will be a maximum of $50,000 per month for the first four months following the Close and thereafter will not exceed more than 2.0% of Gross Revenues. Any increase in this number must first be approved by all shareholders. For the purposes of this clause, banking fees are not included which will be paid as incurred.