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 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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Examples of PIP Costs in a sentence

  • Applicants must include a detailed M&E plan for the base period and should also describe how the plan would change/be updated should the option period be exercised.

  • 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").

  • 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.

  • 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.

  • 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).

  • 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").

  • Lenders shall, at the request of Borrowers and upon the satisfaction of all applicable conditions set forth in this Section 2.20, make Advances with respect to Phase Zero Renovation Costs and PIP Costs, as applicable (each, a “Phase Zero Renovation Advance” or a “PIP Advance”, respectively) from time to time under the Note and this Agreement in an aggregate amount not to exceed the Phase Zero Renovation Advance Maximum Amount and PIP Advance Maximum Amount, as applicable.

  • In connection with the purchase of the Property contemplated under this Contract, Buyer shall be responsible for the costs and expenses of its attorneys, accountants and other professionals, consultants and representatives and for costs of PIP improvements, if any, required by Licensor in connection with the assignment of the License Agreement to Buyer or its affiliate (“PIP Costs”), provided that the aggregate amount of such PIP Costs do not exceed One Hundred Thousand and No/100 Dollars ($100,000.00).

  • 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.


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. 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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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. “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 the cost of the following:

  • 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 any and all costs incurred by the Contractor with respect to the construction and equipping, as the case may be, of the improvements performed, whether paid or incurred prior to or after the date hereof, including, without limitation, costs for Site preparation, the removal or demolition of existing structures, the construction of the Project and related facilities and improvements, and all other work in connection therewith, security of the Site and Project, Contractors’ overhead and supervision at the Project Site, all costs and expenses including any taxes or insurance premiums paid by the Contractor with respect to the Property, and administrative and other expenses necessary or incident to the Project, excluding Contractors’ and Developers’ home office overhead and profit. The term “Construction Costs” includes all Contractor’s costs associated with preparing or generating additional copies of any Construction Documents, as defined below, related to or required for the Project, including preparation or generation of additional Plans and/or Specifications for Contractor’s Subcontractors. In no event shall Construction Costs exceed the Guaranteed Maximum Price.

  • 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 all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • 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.

  • Initial Costs means all costs incurred by the Authority relating to the establishment and initial operation of the Authority, such as the hiring of a Chief Executive Officer and any administrative staff, any required accounting, administrative, technical and legal services in support of the Authority’s initial formation activities or in support of the negotiation, preparation and approval of power purchase agreements. The Board shall determine the termination date for Initial Costs.

  • 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 liabilities incurred in connection with or arising out of the withdrawal, departure, resignation or termination of employment (whether actual or alleged constructive termination) of any Seconded Employee, including, without limitation, liabilities relating to or arising out of any claim of discrimination or other illegality in connection with such withdrawal, departure, resignation or termination, including cost of defense of such claims, and also including severance payments and benefits paid to a Seconded Employee in return for a release of claims.

  • 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 product of (a) the number of FTEs (proportionately, on a per-FTE basis) used by a Party or its Affiliates in directly performing activities assigned to such Party under and in accordance with the Global Development Plan, the Follow-On Research Plan, the Medical Affairs Plan, the Manufacturing Plan, the Quality Agreement, any Global Commercialization Plan or any Regional Commercialization Plan, as applicable, and (b) the FTE Rate.

  • Company Expenses has the meaning provided in Section 8.3.

  • 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.