Permitted Borrower Administrative Expenses definition

Permitted Borrower Administrative Expenses means Borrower Administrative Expenses, other than the UST Management Fee and Private Vehicle Management Fees.
Permitted Borrower Administrative Expenses means, for any period, the amount of administrative expenses of the Borrower incurred and payable in accordance with an approved Annual Operating Budget for the Borrower or otherwise approved by the Administrative Agent plus, to the extent not included in the approved Annual Operating Budget of the Borrower, the amount of reasonable, out-of-pocket legal fees and expenses incurred by the Borrower or otherwise payable by the Borrower in connection with the administration, performance or enforcement of, and any modification, amendment or supplement to, the Loan Agreements in an amount not to exceed $50,000 per year.

Related to Permitted Borrower Administrative Expenses