PIP Costs definition

PIP Costs means the costs described on Exhibit H.
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PIP Costs means all direct and indirect costs and expenses (including fees) of designing, inspecting, remediating, renovating, constructing, and developing the PIP Project to Final Completion, including, without limitation, Carry Costs.
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PIP Costs means the total amount required to complete any PIP.
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Examples of PIP Costs in a sentence

  • Thereafter, all PIP Costs shall be the sole responsibility of Purchaser.

  • Notwithstanding anything to the contrary in Article 6 of the Loan Agreement, (i) the PIP Reserve Deposit shall be disbursed by Lender for payment of the PIP Costs (as such term is defined below) in accordance with the terms of this Agreement, the PIP Budget (as defined below) and the terms of Section 6.5.2 of the Loan Agreement, and (ii) the PIP Reserve Deposit released to New Borrower shall be used exclusively in respect of the PIP Improvements unless otherwise approved in writing by Lender.

  • Purchaser shall be responsible for completing the work required by each PIP following Closing and for paying all costs associated with any PIP (the “PIP Costs”), provided that, if the aggregate of such PIP Costs exceed Nine Million Dollars ($9,000,000), then Purchaser and Seller shall bear equally the next One Million Dollars ($1,000,000) in PIP Costs.

  • Without the prior written consent of Lender, New Borrower shall not use any of the PIP Reserve Deposit released by Lender for any purpose other than the payment of the PIP Costs in amounts not to exceed the amounts set forth for each expense item in the PIP Budget.

  • For the avoidance of doubt, if Barcelo Crestline declines Sandalwood's offer pursuant to this Section G, then the Total Debt and Equity Investment and PIP Costs for such hotel shall not be counted against the Investment Commitment or the Additional Investment Commitment (as appropriate).

  • Once Sandalwood has made Qualifying Offers that satisfy the Investment Commitment, Sandalwood shall be obligated to provide Barcelo Crestline with a Right of First Refusal for every second Qualifying Hotel (the "Additional Hotel Properties") until Sandalwood has made Qualifying Offers to Barcelo Crestline for Qualifying Hotels in which the sum of Total Debt and Equity Invested plus PIP Costs in such hotels equals at least Seventy-Five Million Dollars ($75,000,000) (the "Additional Investment Commitment").

  • Sandalwood is hereby obligated to offer Barcelo Crestline a Right of First Refusal for each Qualifying Hotel (a "Qualifying Offer") until Sandalwood has made Qualifying Offers for Qualifying Hotels in which the sum of Total Debt and Equity Invested plus PIP Costs (the "Initial Hotel Properties") equals at least One Hundred Million Dollars ($100,000,000) (the "Investment Commitment").

  • The amount of Consent Costs shall not exceed, in the aggregate, the amount set forth on Schedule 7.5(e), and the amount of PIP Costs shall not exceed, in the aggregate, the amount set forth on Schedule 7.5(f).

  • Provided no Event of Default as a result of which the Obligations have been accelerated is in existence and provided there are sufficient amounts in the PIP Reserve, Agent shall disburse to the applicable Credit Party the amount incurred by the applicable Credit Party with respect to PIP Costs as provided on Exhibit 7.18.

  • In connection with a PIP, Borrower shall deposit the PIP Funds into an Account (the “PIP Reserve Account”), which PIP Funds shall be disbursed and applied in accordance with Section 6.5.2 below; provided, however, that Guarantor may deliver to Lender a guaranty pursuant to which Guarantor guarantees PIP Costs in an amount equal to the PIP Guaranty Amount and, in such case, Borrower shall be required to deposit an amount equal to the PIP Costs less the PIP Guaranty Amount into the PIP Reserve Account.


More Definitions of PIP Costs

PIP Costs means the costs of any changes in the scope of the PIPs under any Consent Franchise Agreements in effect as of the date hereof prior to the Initial Closing.
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PIP Costs has the meaning set forth in Section 5.1(f).
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PIP Costs. “PIP Requirements”, “PIP Reserve” and “Property Improvement Plans” are hereby deleted in their entirety.
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PIP Costs means the anticipated total amount required to complete any PIP, as determined by Lender in its reasonable discretion.
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PIP Costs means the costs incurred by Sandalwood pursuant to a Property Improvement Plan during the first two years of Sandalwood's ownership of a Qualifying Hotel.
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PIP Costs. All costs and expenses incurred with respect to completion by the Credit Parties of obligations with respect to any Property Improvement Plans.
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Related to PIP Costs

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Cleanup costs means costs incurred by the state or its political subdivisions or the agents of the state or a political subdivision in the prevention or mitigation of damages from a hazardous condition or the cleanup of a hazardous substance involved in a hazardous condition.

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Overhead costs means the actual costs incurred or the estimated costs to be

  • Production Costs means those costs and expenditures incurred in carrying out Production Operations as classified and defined in Section 2 of the Accounting Procedure and allowed to be recovered in terms of Section 3 thereof.