Preservation Costs definition
Examples of Preservation Costs in a sentence
NUMBER(10,2) Preservation Costs Amount incurred to preserve and secure the property.
Within five (5) Business Days after receipt of such notice or such longer time as the Funding Notice may permit, each such Partner shall have the option, but not the obligation, of advancing to the Partnership such Partner’s respective share of the Preservation Costs on the terms set forth in the Funding Notice.
During any Transition Period, Tenant or any Leasehold Mortgagee may use the Transition Fund to pay for the Preservation Costs.
If neither Tenant nor any Leasehold Mortgagee shall pay for Preservation Costs after notice from Landlord and five (5) days to cure, Landlord may fund such Preservation Costs and shall have a right of reimbursement from the Transition Fund for any such Preservation Costs funded by Landlord.
Subject to the provisions of Article 6.6, all reasonable costs incurred for maintaining and protecting the Maintenance Works or part thereof during the period of suspension (the "Preservation Costs") shall be borne by the Contractor; provided that if the suspension has occurred as a result of any breach of this Contract by the Authority, the Preservation Costs shall be borne by the Authority.