Necessary Expenses definition
Necessary Expenses means any expenses, regardless of amount, which are necessary for the continued operation of the Hotel in accordance with Legal Requirements and the Applicable Standards and which are not within the reasonable control of Manager (including, but not limited to those for taxes, utility charges, approved leases and contracts, licensing and permits).
Necessary Expenses means the expenses incurred by the department and assisting state agencies for (a) investigating the source of the discharge; (b) investigating the extent of the environmental damage caused by the discharge; (c) conducting actions necessary to clean up the discharge; (d) conducting predamage and damage assessment studies; and (e) enforcing the provisions of this chapter and collecting for damages caused by a discharge.
Necessary Expenses means the expenses incurred by the
Examples of Necessary Expenses in a sentence
Except for Permitted Variations, Necessary Expenses, and other provisions in this Agreement specifically allowing the Management Company to depart from the applicable Budget or allowing the Management Company to spend a specified amount of money, the Management Company may not take any action, make any expenditure, or incur any obligation by or on behalf of the Owner, the Hotel, or the operations thereof that reasonably could be expected to cause a material variance from any applicable Budget.
The Management Company may make expenditures in excess of budgeted amounts within the limits of the Permitted Variations, and the Management Company also may make expenditures for Necessary Expenses, whether or not budgeted and whether or not the same exceed the Permitted Variations, with prior notice to the Owner.
Section 3.11.B Minimum Balance Section 4.6 Necessary Expenses See Below Non-capital Replacements .......................................................................................................
More Definitions of Necessary Expenses
Necessary Expenses means a public official's or state employee's expenses for an article, appearance or speech or for participation at an event, in his official capacity, which shall be limited to necessary travel expenses, lodging for the nights before, of and after the appearance, speech or event, meals and any related conference or seminar registration fees.
Necessary Expenses means all real property taxes and assessments; all casualty, liability, and business interruption insurance required by any Lender or the Franchisor; franchise fees and expenses; utility charges; repair and improvements required by applicable legal requirements;
Necessary Expenses means expenses in respect of the following: debt service on the Company’s (or any Subsidiary’s) financing (including the expense of curing any defaults thereunder), utilities, real estate taxes and assessments, insurance and emergency repairs or other expenditures which a Member reasonably determines are necessary for the continued ordinary operation of the Company Property, including without limitation uninsured losses or deductibles, operating shortfalls, repairs, additions or modifications to comply with applicable laws or insurance requirements, insurance premiums for insurance policies approved by the Members, any final orders, judgments, or other proceedings and all costs and expenses related thereto, and any amounts necessary to cure defaults under the Transaction Documents (excluding voluntary prepayment of the principal balance of a Loan prior to its maturity), regardless of whether the Budget has been approved or whether such expenditures exceed the amounts provided for in the applicable Budget.
Necessary Expenses means the costs of funding:
Necessary Expenses means (i) all real estate taxes and other taxes affecting any Company or Subsidiary property and all insurance premiums for the Company or any Subsidiary or any property owned by the Company or any Subsidiary, (ii) all debt service payments and required debt pay downs or debt payoffs on indebtedness owed by the Company or any Subsidiary, (iii) all costs and expenses and funding obligations reasonably necessary to allow the Company or any Subsidiary to perform under any lease, contract, agreement, commitment or other instrument to which the Company or any such Subsidiary is a party (including, without limitation, amounts to fund working capital required under any operating lease), (iv) all amounts needed to fund committed development projects, exercised purchase options or FF&E in the event of a shortfall in financing proceeds, (v) all utilities affecting any Company or Subsidiary property, and (vi) all costs and expenses needed to address an Emergency.
Necessary Expenses means costs and expenses of an essentially non-discretionary nature, including amounts due under leases and other agreements and/or legal requirements by which the Company is bound (including regularly scheduled debt service payments and other amounts owing under any third party loans made to the Company, and/or amounts required to be paid to fulfill the Company’s obligations under a lease or other contract), financing and refinancing expenses, real estate taxes then due and payable, utility costs, insurance premiums, leases, costs of curing legal violations, and other similar non-discretionary types of expenses that the Manager otherwise deems necessary or appropriate in its good faith judgment.
Necessary Expenses means: (a) Emergency Costs; (b) Uncontrollable Expenses; and (c) any other costs or expenses (without duplication) provided for in any budget approved by Managing Member and Non-Managing Member.