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. 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 has the meaning set forth in Section 5.1(f).
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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 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 means the total amount required to complete any PIP.
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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

  • Direct Costs means the sum of the following:

  • 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.

  • 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.