Non-Discretionary Expense definition

Non-Discretionary Expense means any non-discretionary expense, as determined in the Managing Member’s reasonable discretion, necessary to (i) comply with any of the Company’s obligations as landlord under any lease, (ii) comply with any agreements, encumbrances or other instruments affecting title to the Property, (iii) comply with any of the Company’s other contractual obligations with respect to non-discretionary items under agreements to which the Company is a party (including under the Management Agreement), (iv) fulfill the Property Owner’s real estate or other tax obligations, (v) maintain appropriate insurance for the Property, or (vi) pay utility bills for the Property.
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Non-Discretionary Expense means any expense which, in Agent's reasonable discretion, is necessary to (a) comply with any Legal Requirement relating to the Property, (b) comply with any of Owner's obligations as landlord under any Lease, (c) comply with any of Owner's other contractual obligations under agreements approved by Owner or entered into by Agent on behalf of Owner pursuant to this Agreement, (d) fulfill Owner's real estate tax obligations, (e) maintain insurance for the Property in accordance with the terms of this Agreement or (f) pay utility bills for the Property. "Nyprop, L.L.C." means Nyprop, L.L.C., a Delaware limited liability company in which no less than 50% of the membership interests are owned directly or indirectly by Agent and/or its Affiliates.
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Non-Discretionary Expense means any expense that, in the General Partner’s good faith judgment, is necessary to (i) comply with any of the obligations of the Partnership or any Subsidiary as landlord under any lease, (ii) comply with any agreements, encumbrances or other instruments affecting any Real Estate Investment, (iii) comply with any other obligations of the Partnership or any Subsidiary under agreements to which the Partnership or any Subsidiary is a party (including, without limitation, any property management agreement), (iv) fulfill real estate or other tax obligations, (v) maintain appropriate insurance for any Real Estate Investment, the Partnership and all Subsidiaries or as otherwise permitted by this Agreement, (vi) pay utility bills for any Real Estate Investment,
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Examples of Non-Discretionary Expense in a sentence

  • The Managing Member shall give notice to the Members of the nature and amount of any Emergency Expense or Non-Discretionary Expense promptly after the incurrence thereof.

  • You can also bring your lunch. Non-Discretionary Expense: Expense out of necessity.


More Definitions of Non-Discretionary Expense

Non-Discretionary Expense means any non-discretionary expense, as determined in the Managing Member’s reasonable discretion, necessary to (i) comply with any of the Company’s obligations as landlord under any lease, (ii) comply with any agreements, encumbrances or other instruments affecting title to the Property, (iii) comply with any of the Company’s other contractual obligations with respect to non- discretionary items under agreements to which the Company is a party (including under the Management Agreement), (iv) fulfill the Property Owner’s real estate or other tax obligations, (v) maintain appropriate insurance for the Property, or (vi) pay utility bills for the Property.
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Related to Non-Discretionary Expense

  • Extraordinary Expense shall have the meaning set forth in Section 5.1.11(e) hereof.

  • Ordinary Expenses means the Trustee's ordinary expenses and overhead in connection with its services as Trustee, including the items referred to in the definition of Ordinary Expenses in the Standard Terms.

  • Extraordinary Expenses means all expenses incurred by the Fund outside of the ordinary course of its business, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or dispute and the amount of any judgment or settlement paid in connection therewith, or the enforcement of the Fund’s rights against any person or entity; costs and expenses for indemnification or contribution payable by the Fund to any person or entity (including, without limitation, pursuant to the indemnification obligations contained in the Trust Instrument); expenses of a reorganization, restructuring or merger of the Fund; expenses of holding, or soliciting proxies for, a meeting of shareholders of the Fund; and the expenses of engaging a new administrator, custodian, transfer agent, escrow agent or other major service provider.

  • Prepaid Ordinary Expenses shall be zero for this Series.

  • Recovery Expenses means, for any Recovery Quarter, the amount of actual, reasonable and necessary out-of-pocket expenses (other than Capitalized Expenditures) paid to third parties (other than Affiliates of the Assuming Bank) by or on behalf of the Assuming Bank, as limited by Sections 3.2(c) and (d) of Article III to this Commercial Shared-Loss Agreement, to recover amounts owed with respect to (i) any Shared-Loss Asset as to which a Charge-Off was effected prior to the end of the final Shared-Loss Quarter (provided that such amounts were incurred no earlier than the date the first Charge-Off on such Shared-Loss Asset could have been reflected on the Accounting Records of the Assuming Bank), and (ii) Failed Bank Charge-Offs/Write-Downs (including, in each case, all costs and expenses related to an Environmental Assessment and any other costs or expenses related to any environmental conditions with respect to the Shared-Loss Assets (it being understood that any remediation expenses for any such pollutant or contaminant are not recoverable if in excess of $200,000 per Shared-Loss Asset, without the Assuming Bank having obtained the prior consent of the Receiver for such expenses); provided, that, so long as income with respect to a Shared-Loss Loan is being prorated pursuant to the arithmetical formula in subsection (II) of the definition of “Recoveries”, the term “Recovery Expenses” shall not include that portion of any such expenses paid during such Recovery Quarter to recover any amounts owed on that Shared-Loss Loan that is derived by: subtracting (1) the product derived by multiplying:

  • Non-Cash Compensation Expense means any non-cash expenses and costs that result from the issuance of stock-based awards, partnership interest-based awards and similar incentive based compensation awards or arrangements.

  • Administrative Expense means any of the following:

  • Eligible Expense means the lesser of the reasonable, customary, usual, fair market value charge for a covered service or the provider's actual charge.

  • Post-secondary education costs means tuition and other fees associated with obtaining credit from a post-secondary educational institution.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Liquidity Expenses means all Liquidity Obligations other than (i) the principal amount of any Drawings under the Liquidity Facilities and (ii) any interest accrued on any Liquidity Obligations.

  • Non-Key Expert(s means an individual professional provided by the Consultant or its Sub-consultant to perform the Services or any part here of under the Contract.

  • Covered Expense means expense incurred only for the following:

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Administrative Expenses means (i) all administrative and operating costs and expenses incurred by the Partnership, (ii) those administrative costs and expenses of the General Partner, including any salaries or other payments to directors, officers or employees of the General Partner, and any accounting and legal expenses of the General Partner, which expenses, the Partners have agreed, are expenses of the Partnership and not the General Partner, and (iii) to the extent not included in clause (ii) above, REIT Expenses; provided, however, that Administrative Expenses shall not include any administrative costs and expenses incurred by the General Partner that are attributable to Properties or partnership interests in a Subsidiary Partnership that are owned by the General Partner directly.

  • Qualified higher education expenses means qualified higher education expenses as defined in section 529 of the internal revenue code.

  • Emergency Expenditure means any of the Eligible Expenditures set forth in the CERC Operations Manual in accordance with the provisions of Section I.G of Schedule 2 to this Agreement and required for the activities included in the CERC Part of the Project.

  • Lenders’ Expenses are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses, as well as appraisal fees, fees incurred on account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders in connection with the Loan Documents.

  • Management Expenses means expenses, costs and charges necessarily and reasonably incurred in the management of the Development provided in this Deed which, except for the purpose of Clause 4.3 of Section IV of this Deed, shall include the Manager’s Remuneration;

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Emergency Expenditures means any of the eligible expenditures set forth in the CERC Manual referred to in Section I.F of Schedule 2 to this Agreement and required for the Contingent Emergency Response Part.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Reimbursable Expenses means all assignment-related costs [such as travel, translation, report printing, secretarial expenses, subject to specified maximum limits in the Contract].

  • Cash Advance Fees shall have the meaning specified in the Credit Card Agreement applicable to each Account for cash advance fees or similar terms.

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • Medical Expense means an expense incurred at the time a past member or his or her health reimbursement account dependent is furnished the medical care or service. To be considered a medical expense under this act, the expense shall meet all of the following conditions: