Total Approved Operating Expenses definition

Total Approved Operating Expenses means for each Fiscal Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:
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Total Approved Operating Expenses means for each Budget Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:
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Examples of Total Approved Operating Expenses in a sentence

  • Any costs and expenses incurred by the Borrower that is not included in the definition of Total Approved Operating Expenses set forth above shall not be included in the Total Approved Operating Expenses used to calculate the Residual Receipts.

  • The proposed operating budget shall show with particularity all projected (i) Total Gross Revenue, (ii) Total Senior Lender Debt Service Payments, (iii) Total Senior Lender Fee Payments, (iv) Total Subordinate Lender Fee Payments, (v) Total Approved Operating Expenses, (vi) Total Property Management Fee Payments, (vii) payments by the Borrower into the Capital Replacement Reserve, and (viii) Residual Receipts, on a month-by-month basis for the applicable Budget Year.

  • The proposed 12-month operating budget shall include with particularity the projected (I) Total Gross Revenues, (II) Total Senior Lender Debt Service Payments, (III) Total Approved Operating Expenses, (IV) Total Property Management Fee Payment, (V) annual General Partner Asset Management Fee, (VI) annual Limited Partner Asset Management Fee, (VII) payments by the Borrower into the Capital Replacement Reserve, and (VIII) Residual Receipts, on a month-by- month basis for the applicable Fiscal Year.

Related to Total Approved Operating Expenses

  • Independent expenditure means an expenditure by a person:

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.