Predevelopment Expenses definition

Predevelopment Expenses means those documented, out of pocket, reasonable costs incurred by a Member to a third party that is not an Affiliate of such Member on behalf of the Company prior to the Closing Date and directly in connection with the Project that were either approved in writing by the other Member or otherwise included in the Project Budget (subject also to the Soft Cost Budget, as applicable). A Member cannot use the services of an Affiliate of such Member unless such services (in type and cost) and any contract for such services are approved by the other Member in writing.
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Predevelopment Expenses means the expenses tasks and activities set forth in the Development Plan which are anticipated to be incurred to be accomplished
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Predevelopment Expenses. Any Party who incurs any predevelopment expenses on behalf of any Project prior to the formation of the Partnership to take title to that Project, including but not limited to due diligence expenses, shall be reimbursed for these expenses, provided that the Parties have previously approved said expenses.
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Examples of Predevelopment Expenses in a sentence

  • Any Unreimbursable Predevelopment Expenses shall be treated as Capital Contributions as provided in Section 4.1(a).

  • Prior to the Closing, the Members may have incurred certain Predevelopment Expenses, which shall, as and when and to the extent permitted by the Project Loan, be reimbursed to the Members using proceeds from the Project Loan.

  • The Borrowers shall have established the Predevelopment Expenses Reserve Account with the Administrative Agent or with a financial institution satisfactory to the Administrative Agent, which account shall be governed by an Account Control Agreement and which shall be funded on the Effective Date with an aggregate amount equal to $22,933,179.53.

  • On or prior to the Effective Date, the Borrowers shall have established an account (the “Predevelopment Expenses Reserve Account”) with the Administrative Agent or with a financial institution reasonably satisfactory to the Administrative Agent, which account shall be governed by an Account Control Agreement, and shall have deposited into the Predevelopment Expenses Reserve Account an amount equal to $30,800,000.

  • The Predevelopment Expenses Reserve Account shall be maintained until all Obligations are paid in full, in immediately available funds.

  • Since the lawsuit was filed in advance of the Predevelopment Expenses Agreement with Sacramento Basketball Holdings LLC (SBH) and relates specifically to Council action, the expenses associated with this lawsuit are not eligible reimbursable costs.

  • Following the final resolution of the Marriott Parking Dispute and the receipt by Administrative Agent of the documentation described in the preceding sentence, any amounts then on deposit in the Marriott Parking Dispute Reserve Account shall be transferred by the Account Control Bank into the Predevelopment Expenses Reserve Account.

  • Funds on deposit in the Lockbox Account shall be transferred to the Cash Management Account and then disbursed into either the Operating Expenses Account or the Predevelopment Expenses Reserve Account in accordance with this Agreement and the Account Control Agreement relating to the Cash Management Account.

  • Funds on deposit, at any time, in the Operating Expenses Account and the Predevelopment Expenses Reserve Account shall be used only for purposes expressly permitted pursuant to subsections 5.18, 5.20 and 5.21 hereof.

  • On the date hereof, Borrower shall deposit into a Reserve (the "Available Cash Reserve") proceeds of the Loan in an amount equal to $15,000,000.00, for the purpose of funding a reserve fund for the payment of Approved Operating Expenses, Approved Capital Expenses, and Approved Predevelopment Expenses in accordance with the approved Predevelopment Budget (collectively, "Approved Cash Reserve Expenses").


More Definitions of Predevelopment Expenses

Predevelopment Expenses means the expenses tasks and activities set forth in the Development Plan which are anticipated to be incurred to be accomplished prior to closing on construction or permanent financing construction of the housing units.
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Related to Predevelopment Expenses

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Management Expenses means expenses, costs and charges necessarily and reasonably incurred in the management of the Development provided in this Deed which, except for the purpose of Clause 4.3 of Section IV of this Deed, shall include the Manager’s Remuneration;

  • Marketing Costs which means such reasonable charge for marketing of ores and concentrates sold or of concentrates tolled as is consistent with generally accepted industry marketing practices;

  • 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.

  • Exploration Expenditures means the sum of all costs of acquisition and maintenance of the Property, all exploration and development expenditures and all other costs and expenses of whatsoever kind or nature including those of a capital nature, incurred or chargeable by KRC with respect to the exploration and development of the Property and the placing of the Property into Commercial Production.

  • Medical Expenses means those expenses that an Insured Person has necessarily and actually incurred for medical treatment on account of Illness or Accident on the advice of a Medical Practitioner, as long as these are no more than would have been payable if the Insured Person had not been insured and no more than other hospitals or doctors in the same locality would have charged for the same medical treatment.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • 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.

  • Program Costs means all necessary and incidental costs of providing program services.

  • Training Costs means reasonable costs incurred to upgrade the technological skills of Full-Time Employees in Illinois and includes: curriculum development; training materials (including scrap product cost); trainee domestic travel expenses; instructor costs (including wages, fringe benefits, tuition and domestic travel expenses); rent, purchase or lease of training equipment; and other usual and customary training cots. “Training costs” do not include, except where the Company receives prior written approval of the Department, costs associated with travel outside the United States, wages and fringe benefits of employees during periods of training, administrative costs related to Full-Time Employees of the Taxpayer, or amounts paid to an affiliate of the Company.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk's office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replacements and office automation and information technology equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Qualified Project Costs means Project Costs that meet each of the following requirements: (i) the costs are properly chargeable to capital account (or would be so chargeable with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs) in accordance with general Federal income tax principles and in accordance with United States Treasury Regulations §1.103-8(a)(1), provided, however, that only such portion of interest accrued during rehabilitation of the Projects shall be eligible to be a Qualified Project Cost as is so capitalizable and as bears the same ratio to all such interest as the Qualified Project Costs bear to all Project Costs; and provided further that interest accruing after the date of completion of the rehabilitation of the Projects shall not be a Qualified Project Cost; and provided still further that if any portion of any of the Projects is being rehabilitated by an Affiliated Party (whether as a general contractor or a subcontractor), Qualified Project Costs shall include only (A) the actual out-of-pocket costs incurred by such Affiliated Party in rehabilitating the Projects (or any portion thereof), (B) any reasonable fees for supervisory services actually rendered by the Affiliated Party, and (C) any overhead expenses incurred by the Affiliated Party which are directly attributable to the work performed on the Projects, and shall not include, for example, intercompany profits resulting from members of an affiliated group (within the meaning of Section 1504 of the Code) participating in the rehabilitation of the Projects or payments received by such Affiliated Party due to early completion of the rehabilitation of the Projects; (ii) the costs are paid with respect to a qualified residential rental project or projects within the meaning of Section 142(d) of the Code, (iii) the costs are paid after the earlier of 60 days prior to the Inducement Date or the Closing Date, and (iv) if the Project Costs were previously paid and are to be reimbursed with proceeds of the Loan or the Bonds, such costs were (A) costs of issuance of the Issuer Note, (B) preliminary capital expenditures (within the meaning of United States Treasury Regulations §1.139-2(f)(2)) with respect to the Projects (such as architectural, engineering and soil testing services) incurred before commencement of the rehabilitation of the Projects that do not exceed twenty percent (20%) of the issue price of the Bonds (as defined in United States Treasury Regulations §1.148-1), or (C) were capital expenditures with respect to the Projects that are reimbursed no later than eighteen

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • foreign expenditures means expenditures in the currency of any country other than that of the Borrower for goods or services supplied from the territory of any country other than that of the Borrower;

  • Direct Costs means the sum of the following:

  • Independent expenditure means an expenditure by a person: