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.
Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.
Operating Expenses means all direct costs of operating, maintaining and managing the Building and the Property (including parking areas) including, but not limited to, all charges paid or expenses incurred by Landlord for: repairs; maintenance; utilities; water; capital improvements required to meet changed government regulations; cleaning and janitorial services; security services; modifications or additional capital improvements or replacement of existing building systems and equipment to reduce the Operating Expenses; replacement of capital improvements or Building sewer equipment existing as of the Commencement Date when required because of normal wear and tear; maintenance and replacement of landscaping, glazing, plumbing systems, electrical systems, heating and air conditioning systems, a fitness center, automatic fire extinguishing systems, conference centers, roofs, down spouts, elevators, common area interiors, ceilings, and Building exterior and common area doors; rubbish removal; property and liability insurance; licenses, permits and inspections; reasonable accounting, administrative, property management (equal to five percent (5%) of rent collected), and legal expenses and the reasonable cost of contesting the validity or applicability of any government enactments that may affect Operating Expenses. The following shall not constitute Operating Expenses for the purposes of this Lease, and nothing contained herein shall be deemed to require Tenant to pay any of the following as Operating Expenses: (i) deductible damage and repairs attributable to condemnation, fire or other casualty (over and above the deductible); (ii) damage and repairs covered under any warranty or insurance policy carried by Landlord in connection with the Building or common areas; (iii) damage and repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord's employees, contractors or agents; (iv) executive salaries of Landlord; (v) Landlord's general overhead expenses not related to the Premises; (vi) payments of principal or lease payments or points, commissions and legal fees associated with financing; (vii) depreciation; (viii) any cost or expense related to the testing for, removal, transportation or storage of hazardous materials from the Premises, Building or common areas; and (ix) interest, penalties or other costs arising out of Landlord's failure to make timely payments of its obligations, mortgages, real estate taxes and real estate insurance. Landlord...
Examples of Operating Expenses in a sentence
If Tenant fails to pay, when due, the specified additional rent for Operating Expenses, Library shall have the right, after ten (10) business days written notice to Tenant, to cut off, discontinue, or otherwise limit any utility or other service furnished by Library to Tenant or the Premises, whenever and during any period for which such additional rent for Operating Expenses remains unpaid by Tenant beyond the due date and any applicable cure period.
In no event shall Library be liable for any interruption or failure of the supply of any utility or utilities or other services covered as Operating Expenses, nor shall any such interruption entitle Tenant to any rent abatement or lease termination, unless such interruption or failure in supply of any utility or utilities or services is caused by the gross negligence or willful misconduct of Library or Library’s employees or agents.
Such Operating Expenses will cover and include Tenant’s share of utilities (including wi-fi internet service) for the Premises and Tenant’s pro rata share of the following: common utilities serving the Building, Library’s insurance costs for the Building, custodial and janitorial services, security system maintenance, and common area maintenance and services that Library is required to provide under this Lease.
During the Term, Tenant shall pay Library, as additional rent, annual Operating Expenses for the Premises at a fixed annual rate of $4.13 per square foot.
County’s Proportionate Share of the Excess Amount of Operating Expenses, as defined below.
More Definitions of Operating Expenses
Operating Expenses means all costs, fees, disbursements and expenses paid or incurred by or on behalf of Landlord in the operation, ownership, maintenance, insurance, management, replacement and repair of the Building (excluding Property Taxes) including without limitation:
Operating Expenses means all unreimbursed fees, costs and out-of-pocket expenses of the Issuer, including all amounts owed by the Issuer to the Indenture Trustee (including indemnities, legal, audit fees and expenses) or any Manager, the Servicing Fee, the Administration Fee, legal and accounting fees, Rating Agency fees, any Regulatory Assessment Fees and related fees (i.e. website provider fees) and any franchise or other taxes owed by the Issuer, including on investment income in the Collection Account.
Operating Expenses shall include:
Operating Expenses is defined, for purposes of this Lease, to include all costs, if any, incurred by Lessor in the exercise of its reasonable discretion, for:
Operating Expenses means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to the operation of the Company or to Company business, including fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad loan reserves, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property.
Operating Expenses means the total of all expenditures, computed in accordance with accounting principles reasonably acceptable to Lender, consistently applied, of whatever kind relating to the operation, maintenance and management of the Property that are incurred on a regular monthly or other periodic basis, including without limitation, utilities, ordinary repairs and maintenance, insurance, license fees, property taxes and assessments, advertising expenses, management fees, payroll and related taxes, computer processing charges, operational equipment or other lease payments as approved by Lender, and other similar costs, but excluding depreciation, Debt Service, Capital Expenditures and contributions to the Reserve Funds.
Operating Expenses means in respect of each Series, the following fees, costs and expenses allocable to such Series or such Series pro rata share (as determined by the Allocation Policy, if applicable) of any such fees, costs and expenses allocable to the Company: