Non-Discretionary Items definition
Non-Discretionary Items means (i) real estate taxes, (ii) insurance premiums, (iii) regular payments of debt service and any reserve amounts due under the Financing or any future refinancing thereof (but excluding the principal amount of such indebtedness at the maturity date of such Financing, as the same may be accelerated), (iv) amounts necessary to pay judgments or liens against (a) the Company, (b) any of the Company Assets, (c) any of the Subsidiaries or (d) any Subsidiary’s assets (including, without limitation, the Property), and which, in each case, have been finally adjudicated, (v) any amounts required to be withheld pursuant to Section 1446 of the Code (or similar provisions of state or local law), (vi) amounts currently due and payable, or to become due and payable within thirty (30) days, under any leases, service contracts or other agreements or contractual obligations (to the extent not entered into in violation of this Agreement) to which the Company or any of the Subsidiaries is a party or obligor, whether or not the same are categorized for accounting purposes as ordinary operating expenses or capital improvements, and (vii) other amounts that are required to be paid in the event of an emergency.
Non-Discretionary Items has the meaning set forth in Section 5.17.
Non-Discretionary Items means expenditures payable by the Partnership or any Investment Entity for increases over the amount set forth in the Partnership's most recent Approved Budget for the following items, but only to the extent not reasonably anticipated at the time such Approved Budget was submitted to the Partners for Approval under Section ▇.▇.▇.▇: taxes (including real estate taxes, but excluding any Partner's tax liability), utilities, bonding costs, insurance (including earthquake insurance, and insurance described under Section 5.1.1 to the extent provided therein), debt service and expenses or other amounts required to be paid by the Partnership or any Investment Entity under contracts or agreements of the Partnership or any Investment Entity that have been Approved by the Partners(or are permitted to be entered into without such Approval).
Examples of Non-Discretionary Items in a sentence
During any period that Lender has not approved or been deemed to have approved a proposed Annual Budget submitted to Lender, the previous Approved Budget shall remain in effect, except for Non-Discretionary Items, which shall be adjusted to reflect the actual costs thereof during the relevant period.
The Manager may, in its reasonable discretion with respect to funding of Non-Discretionary Items or otherwise upon an affirmative Majority Vote of the Members, elect to make loans to the Company from time to time when necessary or appropriate for conduct of the Company's business, in amounts not to exceed $50,000 outstanding at any one time, at a non-compounded interest rate of 6% per annum and otherwise on commercially reasonable terms.
In addition, in the event one or both parties do not fund a voluntary call provided for in Section 6.2, the Manager may elect to arrange for short term bridge financing with third party lenders as necessary to fund Non-Discretionary Items.
More Definitions of Non-Discretionary Items
Non-Discretionary Items means Taxes and insurance premiums.
Non-Discretionary Items means all real estate taxes, insurance premiums and utilities relating to the Property.
Non-Discretionary Items means, with respect to the Company and to each of the Subsidiaries, (i) real estate taxes, (ii) insurance premiums, (iii) regular payments of debt service and any reserve amounts due under any Financing or any future refinancing thereof (but excluding the principal amount of such indebtedness at the maturity date of such Financing, as the same may be accelerated), (iv) amounts necessary to pay judgments or Liens against (a) the Company, (b) a Subsidiary or (c) any of the Company Assets, (v) any amounts required to be withheld pursuant to Section 1446 of the Code (or similar provisions of state or local law), and (vi) amounts currently due and payable, or to become due and payable within thirty (30) days, under any leases, service contracts or other agreements or contractual obligations (to the extent not entered into in violation of this Agreement) to which the Company or a Subsidiary is a party or obligor, whether or not the same are categorized for accounting purposes as ordinary operating expenses or capital improvements.
Non-Discretionary Items means, with respect to the Company and to each of the Subsidiaries, (i) real estate taxes, (ii) insurance premiums, (iii) regular payments of debt service and any reserve amounts due under any Financing or any future refinancing thereof (but excluding the principal amount of such indebtedness at the maturity date of such Financing, as the same may be accelerated), (iv) amounts necessary to pay judgments or Liens against (a) the Company,
Non-Discretionary Items means expenditures payable by the Partnership for taxes, utilities, insurance, debt service and expenses or other amounts required to be paid by the Partnership under contracts or agreements of the Partnership.
Non-Discretionary Items means (i) real estate taxes, (ii) insurance premiums, (iii) regular payments of debt service and any reserve amounts due under the Refinancing or any future refinancing thereof (but excluding the principal amount of such indebtedness at the maturity date of such Refinancing, as the same may be accelerated), (iv) amounts necessary to pay judgments or liens against (a) the Company, (b) any of the Company Assets, (c) any of the Subsidiaries or (d) any Subsidiary’s assets (including, without limitation, the Properties), and which, in each case, have been finally adjudicated, (v) any amounts required to be withheld pursuant to Section 1446 of the Code (or similar provisions of state or local law),