Ownership Costs definition

Ownership Costs means all costs of ownership of the Hotel Deck and include, by way of illustration, but are not limited to: (i) the costs of designing and constructing the Hotel Deck (which are being paid by the City pursuant to that certain Owner-Developer Agreement (Lump Sum Agreement) of even date herewith between the City and Hotel Developer); (ii) interest on debt or amortization payments on any mortgage/deed of trust, or rent on any ground lease or other underlying lease; (iii) costs for which the City or the Corporation, as applicable, is reimbursed or has a right to reimbursement (either by an insurer, condemnor, or other person or entity); (iv) if paid by the City or the Corporation, costs for which the City or the Corporation, as applicable, is reimbursed or has a right to reimbursement under warranties provided to the City or the Corporation, as applicable, by contractors who have warranty obligations; (v) depreciation of the Hotel Deck; (vi) costs (including attorneys’ fees and costs) related to any sale, financing or refinancing of the Hotel Deck or incurred in connection with negotiations or disputes with purchasers, prospective purchasers, lenders and prospective lenders; (vii) capital expenditures, except to the extent of the amortized portion of costs of capital repairs and replacements included in the definition of Operating Expenses; (viii) federal and state taxes on income, death, estate or inheritance; or franchise taxes; (ix) after initial construction, the costs to bring the Hotel Deck into full compliance with all federal, state or local legal requirements, including the federal Americans with Disabilities Act; (x) subject to any warranty claims, the cost of curing any construction defects in the Hotel Deck; (xi) insurance deductibles that exceed commercially reasonable deductibles; (xii) costs incurred due to the uninsured negligence or willful misconduct of the City or the Corporation, as applicable, or the violation by the City or the Corporation, as applicable, of any applicable legal requirements; (xiii) costs of renting equipment for which the purchase cost (including any amortized portion of the purchase cost), if purchased, would not be included in Operating Expenses; and (xiv) costs paid or incurred in connection with any hazardous materials or hazardous substances present on or otherwise affecting the Hotel Deck as of the date of the completion of the subject portion of the Hotel Deck, including the costs any investigation or remediation ...

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Ownership Costs means the costs of maintenance, utilities, property and building insurance, depreciation, amortization of leasehold improvements, rent, property taxes, interest and other related costs.

Ownership Costs means those costs incurred in relation to ownership of real and tangible personal property, including allowable interest, depreciation, taxes, insurance and normal maintenance.

Examples of Ownership Costs in a sentence

• Except as specifically otherwise provided, all cost(s) and expense(s) incurred by Manager in association with the performance of the obligations hereinafter set forth shall be, regardless of the designation of a portion thereof as Fee Ownership Costs (as herein defined), operating costs and shall accordingly be paid from the Bank Account(s) as hereinafter defined in Section 3.01(iv) below.

• Owner shall provide all funds necessary to enable Manager to manage and operate the Hotel in accordance with the terms of this Agreement and the License Agreement, regardless of the designation of a portion of the operating costs as Fee Ownership Costs.

• To the extent this Agreement obligates or authorizes Manager to pay any such Fee Ownership Costs, Manager shall pay such Fee Ownership Costs on behalf of Fee Owner to the extent of funds in the Bank Account(s) (as herein defined) in the order of priority set forth in Exhibit B or the Reserve Fund (as herein defined) and Fee Owner and Owner shall make such adjustments and payments to each other as may be necessary from time to time to take into account any such payments by Manager.

• Notwithstanding that Manager is authorized to and will make the disbursements described above in the order set forth and to the extent funds are available, Owner is ultimately solely liable for all Operating Costs and Ownership Costs.

• At Owner’s election, design and installation of Capital Replacements may be carried out under Manager’s supervision, except that the costs of design, construction management, technical services, project management and similar project-specific services will be separate and will be Ownership Costs.

• Expenditures required to complete, or correct deficiencies, in construction, reconstruction or refurbishment of the Hotel, if undertaken, are Ownership Costs and will not be reflected in the Yearly Budget or the Capital Replacements Budget or paid from the Reserve Account.

• The City shall be solely responsible for the Ownership Costs and the Operating Expenses of the Hotel Deck in accordance with the following provisions of this Section 5.

• The City shall pay all Ownership Costs directly and the Hotel Developer shall have no obligation to pay or advance Ownership Costs.

• Owner shall provide all funds necessary to enable --------------- Manager to manage and operate the Hotel in accordance with the terms of this Agreement and the License Agreement, regardless of the designation of a portion of the operating costs as Fee Ownership Costs.

• All costs of any contest and all such fines, penalties, interest or other charges or assessments shall be Ownership Costs.

More Definitions of Ownership Costs

Ownership Costs means those costs incurred by the Borrower owning such Eligible Property for the acquisition of the Eligible Property and achieving “Stabilization” (as hereinafter defined) of the Eligible Property, all as approved by Lender, in its sole discretion.

Ownership Costs means (i) depreciation of the Hotel, furnishings, fixtures and equipment; (ii) rental pursuant to a ground lease, if any, or any other lease payments; (iii) debt service (interest and principal) on any mortgage(s) encumbering the Lessee's leasehold estate or the Partnership's fee estate in the Hotel; (iv) property taxes and assessments; (v) amortization of pre-opening expenses; (vi) expenditures for capital replacements (to the extent actually capitalized rather than expensed); (vii) audit, legal and other professional or special fees; (viii) premiums for casualty insurance coverages specified in Exhibit "D" (ix) equipment rentals for capitalized leases; (x) administrative and general expenses and disbursements of Owners, including compensation of employees of Owners; (xi) Federal, State and local Franchise and Income Taxes; (xii) amortization of bond discounts and mortgage expenses; (xiii) such other costs or expenses which are normally treated as "Ownership Costs" under the standard accounting practices of Manager (which are in accordance with generally accepted accounting principles and are substantially similar to the Hotel and Motel Standard System of Accounts); (xiv) deposits into the Operating Deficit Account; and (xv) deposits into the Reserve Fund.

Ownership Costs means all costs related to the ownership of the Residence as set out in clause 10.2 which are to be fully reimbursed by the Owner to the Operator in accordance with this Agreement;

Ownership Costs. The costs of ownership of the Ninth Avenue Terminal Shed, including but not limited to real property and possessory taxes, insurance and maintenance. Party: City and/or Developer, and Transferees, as applicable, determined as of the time in question. Person: An individual, partnership, limited liability company, firm, association, corporation, trust, governmental agency, administrative tribunal or other form of business or legal entity. Port: The City of Oakland, a California charter city, acting by and through its Board of Port Commissioners.

Ownership Costs means (i) depreciation of the Hotel, ----------------- furnishings, fixtures and equipment; (ii) rental pursuant to a ground lease, if any, or any other lease payments; (iii) debt service (interest and principal) on any mortgage(s) encumbering the Hotel, including the Financing Documents; (iv) property taxes and assessments; (v) amortization of preopening expenses; (vi) expenditures for capital replacements (to the extent actually capitalized rather than expensed); (vii) premiums for the insurance coverages specified in Exhibit "D"; (viii) equipment rentals for capitalized leases; (ix) administrative and general expenses and disbursements of Lessee, including compensation of employees of Lessee; (x) Federal, State and local Franchise and Income Taxes; (xi) amortization of bond discounts and mortgage expenses; (xii) such other costs or expenses which are normally treated as "Ownership Costs" under the standard GAAP accounting practices (which are in accordance with generally accepted accounting principles and are substantially similar to the Hotel and Motel Standard System of Accounts); (xiii) repayment of any Operating Deficit Advances; (xiv) deposits into the Reserve Fund; and (xv) payments of rent (base rent and percentage rent) due under the Participating Lease.