Property Expenses means the costs (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Eligible Property, which are the responsibility of the Borrower or the applicable Guarantor that are not paid directly by the tenant, including without limitation, the Annual Capital Expenditure Reserve and the greater of (a) 3% of rents and (b) actual management fees paid in cash, but excluding depreciation, amortization and interest costs.
Property Expenses means, with respect to the Mortgaged Property, the following costs and expenses but only, in the case of costs and expenses in respect of goods and services, to the extent that they (x) are paid to Persons who are generally in the business of providing such goods and services, (y) are customary 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 Capital Improvement Costs:
Property Expenses is defined in Exhibit D attached hereto.
Examples of Property Expenses in a sentence
The clinical commissioning group participates in the Property Expenses Scheme and the Liabilities to Third Parties Scheme.
The Trust participates in the Property Expenses Scheme and the Liabilities to Third Parties Scheme.
Non-clinical risk pooling The Trust participates in the Property Expenses Scheme and the Liabilities to Third Parties Scheme.
All financial obligations imposed on Tenant and/or on Operator during the term of the Operating Agreement and/or on the Retirement Community pursuant to any Future Title Encumbrances shall be paid by Landlord from its own funds, and not as a Property Expense or from the Reserve, unless Tenant, and Operator during the term of the Operating Agreement, have given their prior written consent in accordance with the terms of Section 4.6.2 to the payment of such obligations as Property Expenses.
Any such funds withdrawn from the Collection Account to pay Emergency Property Expenses shall not constitute part of the Available Amount on any Payment Date.
More Definitions of Property Expenses
Property Expenses means, when used with respect to any Real Property Asset, the costs of maintaining and operating such Real Property Asset, calculated in accordance with GAAP, which are the responsibility of the owner thereof and that are not paid directly by the tenant thereof, including, without limitation, real estate taxes, insurance, repairs and maintenance, but provided that if such tenant is more than 60 days in arrears in the payment of base or fixed rent, then such costs will also constitute "Property Expenses", but excluding depreciation, amortization and interest costs.
Property Expenses means, as to any Real Property, the costs (including, but not limited to, management fees, payments under Ground Leases, bad debt expenses, payroll, real estate taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining such Real Property, which are the responsibility of the Borrower or the applicable Subsidiary that are not paid directly by the applicable Tenant, but excluding Debt Service, income tax expense, capital expenses, depreciation, amortization, interest costs and other non-cash expenses.
Property Expenses means any or all, as the context requires, of the following:
Property Expenses means all operating and capital expenses incurred in the ordinary course of business and attributable to the ownership or operation of the Assets; provided that Property Expenses shall not include Liabilities attributable to: (a) personal injury or death, property damage or violation of any Law; (b) obligations to plug wells and dismantle or decommission facilities; (c) the remediation of, or any other Liability with respect to, any environmental condition under applicable Environmental Laws; (d) obligations with respect to any gas or pipeline imbalances; or (e) obligations to pay working interests, royalties, overriding royalties or other interest owners’ revenues or proceeds attributable to sales of Hydrocarbons relating to the Assets, including those held in suspense.
Property Expenses shall not include: (i) debt service payments pursuant to any Encumbrance or any other loans or borrowings of Landlord; nor (ii) except as set forth above, payments pursuant to equipment leases or other forms of financing obtained for the furniture, fixtures and equipment located in or connected with the Retirement Community (such payments shall be paid out of the Reserve in accordance with Section 5.1.2), nor (iii) rental payments pursuant to any ground lease, nor (iv) any other payments which are designated as Landlord's responsibility under any of the provisions of this Agreement or as the Tenant's responsibility as "Owner" under the Operating Agreement, all of which shall be paid by Landlord from its own funds, and not from Total Facility Revenues nor from the Reserve. Unless otherwise specifically set forth in this Agreement, all the costs and expenses of the Retirement Community shall be Property Expenses.
Property Expenses shall have the meaning given to such term in Section 11.2(b) hereof.
Property Expenses means those expenses more particularly described on Exhibit "H" attached hereto.