Property Expense means, for any Retail Property, all operating expenses relating to such Retail Property, including the following items (provided, however, that Property Expenses shall not include debt service, tenant improvement costs, leasing commissions, capital improvements, Depreciation and Amortization Expenses and any extraordinary items not considered operating expenses under GAAP): (i) all expenses for the operation of such Retail Property, including any management fees payable under the Management Contracts and all insurance expenses, but not including any expenses incurred in connection with a sale or other capital or interim capital transaction; (ii) water charges, property taxes, sewer rents and other impositions, other than fines, penalties, interest or such impositions (or portions thereof) that are payable by reason of the failure to pay an imposition timely; and (iii) the cost of routine maintenance, repairs and minor alterations, to the extent they can be expensed under GAAP.
Property Expense means, for any Retail/Other Property, all operating expenses relating to such Retail/Other Property, including the following items (provided, however, that Property Expenses shall not include debt service, tenant improvement costs, leasing commissions, capital improvements, Depreciation and Amortization Expenses and any extraordinary items not considered operating expenses under GAAP): (i) all expenses for the operation of such Retail/Other Property, including any management fees payable under the Management Contracts and all insurance expenses, but not including any expenses incurred in connection with a sale or other capital or interim capital transaction; (ii) water charges, property taxes, sewer rents and other impositions, other than fines, penalties, interest or such impositions (or portions thereof) that are payable by reason of the failure to pay an imposition timely; and (iii) the cost of routine maintenance, repairs and minor alterations, to the extent they can be expensed under GAAP.
Property Expense those operating costs and expenses incurred in connection with the Loan Parties’ management of a Customer’s (or one of a Customer’s Affiliate’s or Subsidiary’s) property.
Examples of Property Expense in a sentence
Discretionary tax deductions, including Canadian Development Expenses, Canadian Oil and Gas Property Expense and Capital Cost Allowance, were maximized in the respective tax years in order to reduce Birchcliff’s accounting profits into a loss position for tax purposes.
In most cases the CCOGPE (Cumulative Canadian Oil and Gas Property Expense) pool is relevant only if you have an opening balance.
All such advertising expenses (or Owner's pro rata share to the extent such advertising is a Multi Property Expense) shall be charged to Owner as an operating expense.
Owner shall pay its pro rata share of any Multi-Property Expenses which shall be calculated by multiplying the applicable amount by a fraction, the numerator of which shall be the number of rentable square feet contained in the Property and the denominator of which shall be the aggregate number of rentable square feet of all properties included in such Multi Property Expense, or another method of allocation reasonably determined by Manager.
Property Expense Statement (SFN 61073) and attach a copy of any financial document(s) used to complete this document (i.e. Year-over-Year Balance Sheet, Income Statement, Statement Cash Flows).
More Definitions of Property Expense
Property Expense means, with respect to any Property, the following costs and expenses (to be calculated without duplication) in respect of such Property, but only, in the case of costs and expenses in respect of goods and services, to the extent that such costs and expenses in respect of such Property (x) are paid to Persons that are generally in the business of providing such goods and services, (y) are reasonable for the types of goods or services provided in the geographical area in which such goods or services are provided and (z) do not constitute (A) payments of Loan Debt Service and Principal Indebtedness, (B) income and franchise taxes, (C) depreciation and amortization, and (D) expenses which are extraordinary in nature and would, under GAAP be considered “non‑recurring”:
Property Expense is defined in Section 8.1.
Property Expense means all capital expenses, joint interest xxxxxxxx, lease operating expenses, lease rentals, bonuses and shut-in payments, royalties, overriding royalties, net profits interests, drilling expenses, workover expenses, geological, geophysical and any other exploration or development expenditures, including those expenditures chargeable under applicable operating agreements, or other agreements consistent with the standards established by Council of Petroleum Accountants Society (XXXXX), that are attributable to the operation of the Assets conducted during the period in question, and shall include overhead for such period based upon the overhead rate of $900,000 per month for operations plus $10,000 per well per month (drilling well rate), and $12,000 per well per month (completion well rate) with on-site and off-site technical services not covered by overhead at a fixed rate basis; provided, however, that Property Expenses shall not include Taxes.
Property Expense means all capital expenses, joint interest xxxxxxxx, lease operating expenses, lease rentals, bonuses and shut-in payments, royalties, overriding royalties, net profits interests, drilling expenses, workover expenses, geological, geophysical and any other exploration or development expenditures, including those expenditures chargeable under applicable operating agreements or other agreements consistent with the standards established by XXXXX, that are attributable to the operation of the Purchased Interests conducted during the period in question.
Property Expense means all costs incurred by Landlord in connection with the operation and maintenance of the Property, including but not limited to each of the categories of expense enumerated as follows:
Property Expense means, for any Healthcare Property, all operating ---------------- expenses incurred by any Operator relating to such Healthcare Property, as reported by such Operator to a Nationwide Entity in such Operator's most recent report, which report shall not be more than one year old at the time of any determination of Property NOI. "Property Expense" shall exclude, however, depreciation expense, amortization expense, non-cash charges and expenses, management fees, rent (in the case a Healthcare Lease exists) or interest related to a Mortgage Loan (in the case a Mortgage Loan exists).
Property Expense means all capital expenses, joint interest xxxxxxxx, lease operating expenses, lease rentals, bonuses and shut-in payments, royalties, overriding royalties, net profits interests, drilling expenses, workover expenses, geological, geophysical and any other exploration or development expenditures, including those expenditures chargeable under applicable operating agreements, or other agreements consistent with the standards established by XXXXX, that are attributable to the operation of the Assets conducted during the period in question, and shall include overhead for such period based upon the applicable joint operating agreement and XXXXX.