Initial Direct Costs Sample Clauses
The Initial Direct Costs clause defines which expenses incurred at the outset of a contract or lease are considered eligible for capitalization or reimbursement. Typically, these costs include commissions, legal fees, or payments made to third parties directly attributable to securing a contract or lease agreement. By clearly outlining what qualifies as an initial direct cost, this clause ensures consistency in accounting treatment and prevents disputes over which expenses can be recognized, thereby promoting transparency and financial clarity between the parties.
Initial Direct Costs. Notwithstanding anything contained herein or in any other Operative Document to the contrary, in connection with any early termination of the Lease during the Base Term, whether by exercise of Lessee of the Early Termination Option during the Base Term, Lessee’s other early purchase of the Leased Property and payment of the Lease Balance, after the occurrence of an Event of Default or otherwise during the Base Term, in addition to all other amounts owing under the Operative Documents, Lessee shall pay to Lessor the IDC Amount pursuant to the IDC Side Letter.
Initial Direct Costs. Lessee acknowledges that Lessor will incur -------------------- certain costs in establishing this transaction ("Initial Direct Costs") and that Lessor will amortize the Initial Direct Costs over the scheduled full term of the Lease. Lessor estimates those costs as, and establishes on its books a reserve therefor, in an amount equal to 1% of the aggregate Base Rent for the Units. If the Lease is terminated for any reason before the scheduled expiration of the Base Term, whether upon the exercise of any early termination option, a casualty occurrence or a default, in addition to all other amounts to be paid by Lessee, Lessee shall pay Lessor an amount equal to the unamortized portion of the Initial Direct Costs.
Initial Direct Costs. Lessee acknowledges that Lessor will incur certain costs in establishing this transaction ("Initial Direct Costs") and that Lessor will amortize the Initial Direct Costs over the scheduled full term of the Lease. Lessor estimates those costs as, and establishes on its books a reserve therefor, in an amount equal to 1% of the aggregate Fixed Base Rent for the Units. If the Lease is terminated for any reason before the scheduled expiration of the Base Term, whether upon a casualty occurrence or a default, in addition to all other amounts to be paid by Lessee, Lessee shall pay Lessor an amount equal to the unamortized portion of the Initial Direct Cost.