Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.
Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.
Operating Expenses. With respect to the Leased Property, for any period, the total of all expenditures, computed in accordance with GAAP, of whatever kind during such period relating to the Lease, without duplication, use, operation, maintenance and management of the Leased Property that are incurred by Lessee on a regular monthly or other periodic basis, including, to the extent actually incurred by Lessee, utilities, ordinary repairs and maintenance, insurance, license fees, property taxes and assessments, advertising expenses, legal fees, consulting fees payable to third parties, management fees, payroll and related taxes, computer processing charges, tenant improvements and leasing commissions, operational equipment or other lease payments as reasonably approved by Lessor, and other similar costs, but excluding depreciation, Rent, Capital Project Costs, and contributions to the Impound Accounts, Replacement Reserve, if any, or any other escrow or reserve funds established pursuant to this Lease and (i) to the extent approved by Lessor (which approval shall not be unreasonably withheld or delayed), the following items: (a) uninsured losses or other costs or expenses arising from a casualty or condemnation affecting any individual Facility, (b) reasonable out of pocket costs and expenses incurred in connection with the rezoning of an individual Facility or (c) the cumulative effect of a one-time adjustment due to a change in accounting standards or the adoption of new accounting standards by Lessee, to the extent that such change in accounting standards or adoption of new accounting standards relates solely to Lessee’s compliance with International Financial Reporting Standards and/or GAAP, (ii) reasonable out of pocket restructuring costs and expenses incurred by Lessee solely in connection with the closure of a Facility or Facilities and limited to severance costs, costs of relocation of employees and any reserves taken in connection with any such closure, but solely to the extent that such reasonable out of pocket restructuring costs and expenses do not exceed, in the aggregate for any twelve (12)-month period, Seven Million Dollars ($7,000,000), and, (iii) to the extent approved by Lessor (which approval shall not be unreasonably withheld or delayed), any income, revenue, charge, cost or expense which is non-recurring in nature as well as unusual or extraordinary which is incurred or earned by Lessee in connection with a one-time event or occurrence from a prior fiscal ...
Examples of Operating Expenses in a sentence
These expenses are typically shown on the financial statements of each Fund and are classified as the Fund Operating Expenses.
Throughout the Term, Landlord shall provide on-site security personnel for the Property at Landlord’s sole cost and expense (but subject to full reimbursement by Tenant through Tenant’s Share of Operating Expenses as provided herein).
The Company shall not reimburse the Advisor at the end of any fiscal quarter for Operating Expenses that in the four consecutive fiscal quarters then ended (the “Expense Year”) exceed (the “Excess Amount”) the greater of 2% of Average Invested Assets or 25% of Net Income (the “2%/25% Guidelines”) for such year unless the Conflicts Committee determines that such excess was justified, based on unusual and nonrecurring factors that the Conflicts Committee deems sufficient.
To determine the Advisor’s liability with respect to the Excess Amount, each month the Funds’ Operating Expenses shall be annualized as of the last day of the month (the “Report Period”).
All obligations of Landlord and Tenant hereunder not fully performed as of the expiration or earlier termination of the Term of this Lease shall survive the expiration or earlier termination of the Term hereof, including without limitation, Tenant’s payment obligations with respect to Taxes and Operating Expenses and all obligations concerning the condition of the Premises.
More Definitions of Operating Expenses
Operating Expenses means all costs, fees, disbursements and expenses paid or incurred by or on behalf of Landlord in the operation, ownership, maintenance, insurance, management, replacement and repair of the Building (excluding Property Taxes) including without limitation:
Operating Expenses means all unreimbursed fees, costs and out-of-pocket expenses of the Issuer, including all amounts owed by the Issuer to the Indenture Trustee (including indemnities, legal, audit fees and expenses) or any Manager, the Servicing Fee, the Administration Fee, legal and accounting fees, Rating Agency fees, any Regulatory Assessment Fees and related fees (i.e. website provider fees) and any franchise or other taxes owed by the Issuer, including on investment income in the Collection Account.
Operating Expenses shall include:
Operating Expenses is defined, for purposes of this Lease, to include all costs, if any, incurred by Lessor in the exercise of its reasonable discretion, for:
Operating Expenses means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to the operation of the Company or to Company business, including fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad loan reserves, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property.
Operating Expenses means the total of all expenditures, computed in accordance with accounting principles reasonably acceptable to Lender, consistently applied, of whatever kind relating to the operation, maintenance and management of the Property that are incurred on a regular monthly or other periodic basis, including without limitation, utilities, ordinary repairs and maintenance, insurance, license fees, property taxes and assessments, advertising expenses, management fees, payroll and related taxes, computer processing charges, operational equipment or other lease payments as approved by Lender, and other similar costs, but excluding depreciation, Debt Service, Capital Expenditures and contributions to the Reserve Funds.
Operating Expenses means in respect of each Series, the following fees, costs and expenses allocable to such Series or such Series pro rata share (as determined by the Allocation Policy, if applicable) of any such fees, costs and expenses allocable to the Company: