Pre-Operating Expenses Clause Samples
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Pre-Operating Expenses. Prior to the formation and capitalization of the Company, the Parties shall each pay and be responsible for their own expenses incident to the transactions contemplated by this Agreement, including fees and expenses of legal counsel or other representatives or consultants.
Pre-Operating Expenses. The expenses incurred by the CONCESSIONAIRE from the Closing Date until prior to the Commercial Start-Up, which shall be paid by the GRANTOR in the event that the Contract is terminated prior to the submission of supporting documentation, duly audited by an independent, specialized firm. These expenses shall be those tied to the performance of the works, including the reimbursement of expenses incurred in the private investment promotion process, payment to the Private Investment Promotion Fund for Public Infrastructure and Public Utilities Works (FONCEPRI, by its initials in Spanish), interests during construction, Performance Bond contracting costs, costs involved in taking out insurance, etc. Under no circumstance shall Pre-Operating Expenses include those expenses that have already been included in the Concession Assets, for which reason they shall not include those expenses that already form part of the Book Value.
Pre-Operating Expenses. The expenses incurred by the CONCESSIONAIRE from the Closing Date until prior to the Commercial Start-Up, which shall be paid by the GRANTOR in the event that the Contract is terminated prior to the submission of supporting documentation, duly audited by an independent, specialized firm. These expenses shall be those tied to the performance of the works, including the reimbursement of expenses incurred in the private investment promotion process, payment to the Private Investment Promotion Fund for Public Infrastructure and Public Utilities Works (FONCEPRI), interest during construction, Performance Bond contracting costs, costs involved in taking out insurance, etc. Under no circumstance shall Pre-Operating Expenses include those expenses that have already been included in the Concession Assets, for which reason they shall not include those expenses that already form part of the Book Value.
Pre-Operating Expenses. The Parties shall be each entitled to reimbursement by Z for expenses incurred by the Parties in connection with the establishment of Z, including all moneys advanced to Z, expenses for design work, feasibility studies, and other professional consultations and fees incurred in connection with the establishment of Z, which can be documented in accordance with Indonesian Accounting Practices.