Preopening Costs definition

Preopening Costs means “start-up costs” (such term used herein as defined in SOP 98-5 published by the American Institute of Certified Public Accountants) related to the acquisition, opening and organizing of new restaurants, including, without limitation, the cost of feasibility studies, staff training and recruiting and travel costs for employees engaged in such start-up activities.
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Examples of Preopening Costs in a sentence

  • These Pre-opening Costs shall be accounted for in a manner consistent with Manager's non-hotel locations and consistent with generally accepted restaurant accounting principles except as otherwise specified herein.

  • For the purpose of this Agreement, Pre-opening Costs shall include all Manager's and/or Owner's actual expenses, not including the Required Capital Contribution, incurred by Owner and/or Manager and not funded by the hotel, during the Start-up Period for any Managed Outlet.

  • Pre-opening Costs ----------------- Pre-opening costs include hiring and training of employees for new restaurants and are expensed as incurred.

  • Except for the Base Overhead Fee and Pre-opening Costs of home office personnel at the Managed Outlet as set forth herein, Manager shall be solely responsible for paying its own corporate overhead without further compensation, including its office expenses and wages and salaries and fringe benefits of its corporate personnel.

  • For the purpose of this Article a secondment is a temporary leave from the teacher’s current assignment within the Unit to an organization or department outside the Unit.

  • If SUBCONTRACTOR does not and COMMERCIAL is required to submit a price quotation to Owner which includes a change in the SUBCONTRACTOR scope of work, COMMERCIAL shall use its best estimate of the proposed change as it affects COMMERCIAL SUBCONTRACTOR in its quotation to Owner, which estimate thereafter shall be the maximum equitable adjustment due SUBCONTRACTOR.

  • Pre-opening Costs shall not be included as Operating Expenses or in determining the amount of the Actual Monthly Overhead defined herein.

Related to Preopening Costs

  • Pre-Opening Expenses means, with respect to any fiscal period, the amount of expenses (other than interest expense) incurred with respect to capital projects that are classified as “pre-opening expenses” on the applicable financial statements of the Company and its Restricted Subsidiaries for such period, prepared in accordance with U.S. GAAP.

  • 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.

  • Operating Costs means the incremental operating expenses incurred on account of the Project implementation, management and monitoring including rent for buildings; office, vehicles, office equipment and other operation and maintenance costs; water and electricity utilities, telephone, office supplies, bank charges, additional staff costs, travel and supervision costs, per diem, but excluding the salaries of officials and public servants of the Project Implementing Entity or the Recipient’s civil service.

  • 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.

  • Closing Costs means, collectively, all initial costs and fees that identified above and in Section 16 that Seller agrees to pay to Buyer as consideration for agreeing to enter into this Agreement.