Soft Costs definition

Soft Costs means the costs of professional work and fees, interim costs, financing fees and expenses, syndication costs, soft costs and Developer’s fees as shown in the Applicant’s properly completed UniApp, Section C - Uses of Funds. Soft Costs do not include operating or replacement reserves.

Soft Costs means all costs which are ordinarily and reasonably incurred in relation to the acquisition, development, installation, construction, improvement and testing of the Properties other than Hard Costs, including without limitation structuring fees, administrative fees, legal fees, upfront fees, fees and expenses related to appraisals, title examinations, title insurance, document recordation, surveys, environmental site assessments, geotechnical soil investigations and similar costs and professional fees customarily associated with a real estate closing, the Lender Unused Fee, the Holder Unused Fee, fees and expenses of the Owner Trustee payable or reimbursable under the Operative Agreements and costs and expenses incurred pursuant to Sections 7.3(a) and 7.3(b) of the Participation Agreement.

Soft Costs means those costs associated with the development, construction, marketing, leasing, operation and maintenance of the Improvements which are not Land Acquisition Costs or Building Costs, including, without limitation, the Facility Lessee Loan, repayment of the Facility Lessee Reverse Loan in respect of proceeds thereof used to pay Soft Costs and Land Acquisition Costs, the Developer Fee, architectural and engineering fees, consultant fees, professional fees, marketing fees and expenses, real estate taxes, insurance and bonding costs, interest and financing fees and any other items identified as “Soft Costs” in the Project Budget.

Examples of Soft Costs in a sentence

• For example, if the Construction Costs Contributed Amount equal $150,000 and the Soft Costs are $10,000, then the KSM Reimbursement Amount would be $172,800 (i.e., [($150,000 + $10,000) x .08].

• Notwithstanding the foregoing, for purposes of calculation of the KSM Reimbursement Amount, the Soft Costs Reimbursement Cap shall be increased as necessary to include any Soft Costs incurred for unforeseen circumstances not reasonably within the control of KSM.

• Within ten (10) days prior to the beginning of public bidding for the Driving Range Project, KSM shall transfer an amount equal to $160,000 less the Soft Costs incurred by KSM as of such date (the “Construction Costs Contributed Amount”) to an account designated by Owner to be used by Owner to pay construction costs to awarded bidder(s) on the Driving Range Project (the “Construction Costs”).

• In such event, or if the Driving Range Project does not otherwise proceed for reasons not reasonably attributable to KSM, then Owner shall promptly reimburse KSM for all documented Soft Costs incurred by KSM in connection with the Driving Range Project.

• Owner shall reimburse KSM in an amount equal to the sum of the Construction Costs Contributed Amount and the amount of KSM’s verified costs and payments for Soft Costs, up to a cap equal to 10% of the total Construction Costs (the “Soft Costs Reimbursement Cap”), plus eight percent (8%) (the “KSM Reimbursement Amount”).

More Definitions of Soft Costs

Soft Costs or “Allowance” means an amount of money for eligible planning, design, value engineering, construction management, environmental, and administration costs of the Project.

Soft Costs means all items under the category heading “Soft Cost” in the Total Project Budget as approved by Lender. Soft Costs include, without limitation, architectural and engineering fees, and legal fees incurred by the Company. Notwithstanding the foregoing, in no event shall taxes, insurance premiums, Debt Service Shortfalls or any operating deficits of the Company or Owner constitute Soft Costs.

Soft Costs means those Building Loan Costs which are not Hard Costs, including but not limited to, architect’s, engineer’s and general contractor’s fees, interest on the Building Loan, recording taxes and title charges in respect of the Building Loan Mortgage and such other non-construction costs as are part of the Cost of the Improvements.

Soft Costs. All costs incurred or to be incurred in connection with the Project, other than the Hard Costs, including, without limitation, interest on the Loan, fees incurred in connection with the Loan, commissions, appraisal fees, architectural and engineering fees, title and recording charges, legal fees, real estate taxes and other impositions and sales and marketing costs. Soft Costs shall only include the items delineated as such on the Budget.

Soft Costs means Project Costs incurred for the production of the Plans and Specifications, architectural and engineering fees, legal and accounting fees, permit and license fees and other such costs that are similar to the foregoing with respect to design of the Facility and obtaining all required Governmental Actions for the use thereof as contemplated in the Operative Documents.

Soft Costs means all costs and expenses (other than Hard Costs) set forth in the Construction Disbursement Budget, including without limitation pre-opening costs.

Soft Costs means Borrower’s costs of acquiring (i) custom-made or non-standard equipment (not otherwise approved by Lender as Eligible Equipment), (ii) tenant improvements at Borrower’s primary business premises, (iii) domain names, (iv) software, (v) sales tax, freight, maintenance and installation charges in respect of items of Eligible Equipment and (vi) other items of personal property approved by Lender that do not constitute Eligible Equipment.