Property Expenses definition

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 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

• Areas RevMAP is designed to target low-to-moderate income senior homeowners with HECM’s who have suffered an involuntary financial hardship that has resulted in their inability to pay the required Property Expenses associated with their loan.

• CalHFA MAC envisions that these monies would be used to complement other federal or lender programs designed specifically to stabilize communities by providing assistance to homeowners who have suffered a financial hardship and as a result are no longer financially able to afford their first-lien mortgage loan payments or their Property Expenses when associated with a Federal Housing Administration (“FHA”) Home Equity Conversion Mortgages (“HECM”) loan, only.

• Property Expenses shall include overhead for the period between the Effective Time and the Closing Date based upon Four Hundred Dollars ($400.00) per month for each Well that produces gas for any portion of such month.

• Property Expenses: All expenses, normal or otherwise, benefited to or by the property shall be charged to the properties account and are to be paid without discount and in full timely to property manager.

• Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Leases, Lands, and Xxxxx at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (as defined in Section 2.3(b) below) incurred at and after the Effective Time.

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. EXHIBIT "E"

Property Expenses shall have the meaning given to such term in Section 11.2(b) hereof.

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.