Initial Costs of Operation definition

Initial Costs of Operation means all Costs of Operations of the Casino prior to the Commencement Date pursuant to this Agreement.
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Initial Costs of Operation means all Costs of Operation advanced to the Tribe pursuant to Section 2.8 and 6.2, prior to the opening of the Facility to the public, including, but not limited to, advance payments or deposits to providers of goods and services, cash for bankrolls and slot hoppers, pre-opening payroll, cash for payment of prizes, legal, licensing, marketing, employee hiring and training, all costs associated with grand opening events and any "fun" nights held prior to the public opening of the Facility, and funding for the establishment and operation of the Tribal Gaming Commission pursuant to the terms of Section 4.6.6 of the Management Agreement between the Tribe and KAR entered on June 11, 1999. Initial Costs of Operation shall also include any costs incurred by either party for reasonable and necessary travel expenses incurred subsequent to the execution of the May 5, 2000 Memorandum of Agreement until the Commencement Date for officers and employees of LKAR or affiliates and authorized representatives of the Tribe in connection with the Project, and in obtaining regulatory approval of this Amended Memorandum Agreement (but not any license fees or costs, including costs pertaining to background investigations of LKAR or its employees, in connection with licensing by either NIGC or Tribal Gaming Commission, nor those costs incurred by the parties, prior to execution, in negotiating the May 5, 2000 Memorandum of Agreement, or any amendments thereto).
Sample 1
Initial Costs of Operation means all Costs of Operation advanced to the Tribe pursuant to Section 2.8 of the Development Agreement and 5.2 of this Management Agreement, prior to the opening of the Facility to the public, including, but not limited to, advance payments or deposits to providers of goods and services, cash for bankrolls and slot hoppers, pre-opening payroll, cash for payment of prizes, legal, licensing, marketing, employee hiring and training, and all costs associated with grand opening events and any "fun" nights held prior to the public opening of the Facility. Initial Costs of Operation shall also include any costs incurred by either party for reasonable and necessary expenses incurred subsequent to the execution of this Management Agreement for officers and employees of Manager and authorized representatives of the Tribe in connection with the Project, and in obtaining regulatory approval of this Management Agreement (but not any license fees or costs of Manager or its employees in connection with licensing with either the NIGC or Gaming Commission, nor those costs incurred by the parties, prior to execution, in negotiating this Management Agreement).
Sample 1

Examples of Initial Costs of Operation in a sentence

  • Developer shall provide the Tribe with monthly reports of all advances for Initial Costs of Operation that shall compare actual advances with the budget for Initial Costs of Operation prepared pursuant to Section 5.1(b) of the Management Agreement.

  • The initial operating budget for the Facility and the Enterprise shall contain an amount approved by Manager and the Tribe which Developer/Manager agrees to arrange for a lender to advance, or advance directly to the Tribe, for Initial Costs of Operation as a component of the Facility Loan in accordance with Section 2.5 of this Memorandum of Agreement.

  • Advances under the Facility Note for Initial Costs of Operation will be arranged by Developer with a lender, or made directly by Developer to the Tribe, upon written request by the Tribe within the budget for Initial Costs of Operation approved pursuant to Section 6.1(b) and if supported by invoices or other documentation as Developer may reasonably require.

  • Advances under the Facility Note for Initial Costs of Operation will be arranged by LKAR with a Lender, or made directly by LKAR to the Tribe, upon written request by the Tribe within the budget for Initial Costs of Operation approved pursuant to Section 6.1(b) and if supported by invoices or other documentation as LKAR may reasonably require.

  • The budget for the Enterprise's Initial Costs of Operation shall contain amounts approved by Manager and the Tribe, which amounts shall be included as pre-opening costs and not as Costs of Gaming Operations or Costs of Incidental Operations.

  • LKAR shall provide the Tribe with monthly reports of all advances for Initial Costs of Operation that shall compare actual advances with the budget for Initial Costs of Operation prepared pursuant to Section 6.1(b).

  • In addition, Developer is hereby authorized to make direct payments for Initial Costs of Operation incurred by Developer in its role as agent for the Tribe, subject to the budget, accounting and record keeping provisions of Articles 2 and 5 of the Management Agreement.

  • In addition, LKAR is hereby authorized to make direct payments for Initial Costs of Operation incurred by LKAR in its role as agent for the Tribe, subject to the accounting and record keeping provisions of Section 3.4(d).

  • Advances under the Facility Note for Initial Costs of Operation will be arranged by Developer with a Lender, or made directly by Developer to the Tribe, within the budget for Initial Costs of Operation approved pursuant to Section 5.1(b) of the Management Agreement, and if supported by invoices or other documentation as Developer may reasonably require.

  • In addition, Developer is hereby authorized to make direct payments for Initial Costs of Operation incurred by Developer/Manager in its role as agent for the Tribe, subject to the accounting and record keeping provisions of Section 3.4(d), and the above dollar limitation.


More Definitions of Initial Costs of Operation

Initial Costs of Operation means all Costs of Operation advanced to the Tribe pursuant to Section 2.8 herein, prior to the opening of the Facility to the public, including, but not limited to, advance payments or deposits to providers of goods and services, cash for bankrolls and slot hoppers, pre-opening payroll, cash for payment of prizes, legal, licensing, marketing, employee hiring and training, and all costs associated with grand opening events and any "fun" nights held prior to the public opening of the Facility. Initial Costs of Operation shall also include any costs incurred by either party for the reasonable and necessary travel expenses incurred subsequent to the execution of this Development Agreement until the Commencement Date for officers and employees of Developer and authorized representatives of the Tribe in connection with the Project, and in obtaining regulatory approval of the Management Agreement (but not any license fees or costs of Manager or its employees in connection with licensing with either the NIGC or Gaming Commission, nor those costs incurred by the parties, prior to execution, in negotiating this Development Agreement or the Management Agreement).
Sample 1
Initial Costs of Operation means all Costs of Operation advanced to the Tribe pursuant to Section 2.8 and 6.2, prior to the opening of the Facility to the public, including, but not limited to, advance payments or deposits to providers of goods and services, cash for bankrolls and slot hoppers, pre-opening payroll, cash for payment of prizes, legal, licensing, marketing, employee hiring and training, and all costs associated with grand opening events and any "fun" nights held prior to the public opening of the Facility. Initial Costs of Operation shall also include any costs incurred by either party in obtaining regulatory approval of this Memorandum of Agreement, but not those costs incurred by the parties, prior to execution, in negotiating this Memorandum of Agreement.
Sample 1

Related to Initial Costs of Operation

  • AREA OF OPERATIONS means the Company's oilfield operations in the States of Assam and Arunachal Pradesh.

  • Area of operation means the area from which the persons can be admitted as members of the Bank.

  • Hours of Operation are the hours established by the Employer to provide adequate service to the public and to fulfil the functions of the work unit.

  • Commencement of Operations means, with respect to any Facility, the completion and the performance of all of the following activities:

  • Plan of operation means the plan of operation of the program

  • Operational Costs means costs and expenses incurred by the Managers on behalf of the Owners to operate and maintain the Vessel including Communication Expenses and EDP Expenses;

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk’s office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replace- ments and office automation and information technol- ogy equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • net non-operating income means the difference between:

  • Net Operating Cash Flow means the net cash flow to the Partnership resulting from ownership and operation of the Partnership Property, plus any other items of income received in cash by the Partnership less (i) all debts and expenses paid in the operation of the Partnership, (ii) any reserves which the General Partners deem reasonably necessary for the operation of the Partnership or for the satisfaction of obligations of the Partnership pursuant to Section 8.6, and (iii) all proceeds which are (A) received by the Partnership from the Transfer of Partnership Property, and (B) used to purchase or reserved, as determined by the General Partners in furtherance of their fiduciary duties hereunder and under the Act, for the purchase of other Partnership Property.

  • Consolidated EBITR means, for any fiscal period of the Borrower, an amount equal to Consolidated Net Income (Loss) for such period, plus, to the extent deducted in determining Consolidated Net Income (Loss), (i) Consolidated Tax Expense for such period, (ii) Consolidated Interest Expense for such period, and (iii) Consolidated Rental Expense for such period.

  • Consolidated EBITDAR means, for any period, Consolidated EBITDA for such period plus, to the extent deducted in determining Consolidated EBITDA for such period, Consolidated Rental Expense.

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Consolidated Adjusted EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period:

  • Consolidated Net Interest Expense means, with respect to any Person for any period, (a) gross interest expense of such Person and its Subsidiaries for such period determined on a consolidated basis and in accordance with GAAP (including, without limitation, interest expense paid to Affiliates of such Person), less (b) the sum of (i) interest income for such period and (ii) gains for such period on Hedging Agreements (to the extent not included in interest income above and to the extent not deducted in the calculation of gross interest expense), plus (c) the sum of (i) losses for such period on Hedging Agreements (to the extent not included in gross interest expense) and (ii) the upfront costs or fees for such period associated with Hedging Agreements (to the extent not included in gross interest expense), in each case, determined on a consolidated basis and in accordance with GAAP.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.