PIP Costs definition

PIP Costs means the costs described on Exhibit H.
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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. 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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Examples of PIP Costs in a sentence

  • If Barcelo Crestline accepts the terms and conditions of such offer, then the Total Debt and Equity Investment and PIP Costs for such hotel shall be counted against the Investment Commitment or the Additional Investment Commitment (as appropriate).

  • 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).

  • 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").

  • Lender may, as a condition to Lender's consent of any proposed changes to the PIP Budget, require New Borrower to deposit with Lender additional funds in such amount as Lender reasonably determines is necessary to cover any increases in the PIP Costs, which funds shall be paid to Lender within five (5) Business Days of such request made by Lender.

  • 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.

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

  • 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).

  • Because the overall educational level of voters has risen and they have become more politically literate over time, they, according to Dalton, do not need strong partisan cues to help them make their political decisions.


More Definitions of PIP Costs

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 means the total amount required to complete any PIP.
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PIP Costs has the meaning set forth in Section 5.1(f).
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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. “PIP Requirements”, “PIP Reserve” and “Property Improvement Plans” are hereby deleted in their entirety.
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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 expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • 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.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Direct Costs means the sum of the following:

  • CP Costs means, for each day, the sum of (i) discount or yield accrued on Pooled Commercial Paper on such day, plus (ii) any and all accrued commissions in respect of placement agents and Commercial Paper dealers, and issuing and paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, plus (iii) other costs associated with funding small or odd-lot amounts with respect to all receivable purchase facilities which are funded by Pooled Commercial Paper for such day, minus (iv) any accrual of income net of expenses received on such day from investment of collections received under all receivable purchase facilities funded substantially with Pooled Commercial Paper, minus (v) any payment received on such day net of expenses in respect of Broken Funding Costs related to the prepayment of any Purchaser Interest of Conduit pursuant to the terms of any receivable purchase facilities funded substantially with Pooled Commercial Paper. In addition to the foregoing costs, if Seller shall request any Incremental Purchase during any period of time determined by the Agent in its sole discretion to result in incrementally higher CP Costs applicable to such Incremental Purchase, the Capital associated with any such Incremental Purchase shall, during such period, be deemed to be funded by Conduit in a special pool (which may include capital associated with other receivable purchase facilities) for purposes of determining such additional CP Costs applicable only to such special pool and charged each day during such period against such Capital.

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Remediation Costs means the cost of any action taken to reduce the concentration of contaminants on, in or under the Eligible Property to permit a record of site condition to be filed in the Environmental Site Registry under section 168.4 of the Environmental Protection Act and the cost of complying with any certificate of property use issued under section 168.6 of the Environmental Protection Act, as further specified in the CIP.

  • Soft Costs means the costs of professional work and fees, interim costs, financing fees and expenses, syndication costs, soft costs and Developer’s fees as shown in the Applicant’s properly completed UniApp, Section C - Uses of Funds. Soft Costs do not include operating or replacement reserves.

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • Basic Costs means all direct and indirect costs and expenses incurred in connection with the Building as more fully defined in Exhibit C attached hereto.

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • O&M Costs as defined in the Depositary Agreement.

  • Litigation Costs means all reasonable costs, charges, expenses, including attorneys', accountants' and expert witnesses' fees, and obligations paid or incurred in connection with investigating, defending (including affirmative defenses and counterclaims), obtaining or attempting to obtain a settlement, being a witness in, or participating in or preparing to defend, be a witness in, or participate in, any Proceeding and any appeal therefrom and the cost of appeal, attachment and similar bonds.

  • Prime costs and “Prime cost sum” means the amount actually paid by the contractor for any article, commodity or special work and shall include all proper charges for packing, carriage and delivery to site, after deduction of all trade documents, rebates and allowances and the discount obtainable for cash insofar as such discount for cash exceeds 2½%.

  • Allocable Costs means costs allocable to a particular cost objective if the goods or services involved are chargeable or assignable to such cost objective in accordance with relative benefits received or other equitable relationship. Costs allocable to a specific Program may not be shifted to other Programs in order to meet deficiencies caused by overruns or other fund considerations, to avoid restrictions imposed by law or by the terms of this Agreement, or for other reasons of convenience.

  • Termination Costs means all documented Direct Costs and Indirect Costs incurred by Transmission Owner in connection with the performance of the Services (i) prior to the effective date of termination, including such costs incurred for materials, equipment, tools, construction equipment and machinery, engineering and other items, materials, assets or services that cannot reasonably be avoided, mitigated or cancelled, (ii) to unwind any work undertaken prior to or after the effective date of termination to the extent reasonably necessary to return the Projects to a configuration or condition in compliance with Good Utility Practice and applicable Law, and (iii) arising from cancellation costs relating to orders or contracts entered into in connection with the performance of Services by Transmission Owner prior to the effective date of the termination.

  • Related Expenses means any and all costs, liabilities, and expenses (including, without limitation, losses, damages, penalties, claims, actions, reasonable attorney's fees, legal expenses, judgments, suits and disbursements) reasonably incurred by, or imposed upon, or asserted against, Lender in any attempt by Lender:

  • FTE Costs means the FTE Rate multiplied by the applicable number of FTEs who perform a specified activity pursuant to this Agreement.

  • Company Expenses has the meaning set forth in Section 11.3(a)(v).

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Advertising Costs The Company will determine with the Agent the amount of advertising that may be appropriate in soliciting offers to purchase the Book-Entry Notes. Advertising expenses will be paid by the Company.

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Property Expenses means the costs (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Eligible Property, which are the responsibility of the Borrower or the applicable Guarantor that are not paid directly by the tenant, including without limitation, the Annual Capital Expenditure Reserve and the greater of (a) 3% of rents and (b) actual management fees paid in cash, but excluding depreciation, amortization and interest costs.