Preformation Expenses Clause Samples
Preformation Expenses. In the event that the Company is successful in purchasing the assets of the Palace Casino, the following expenses, incurred prior to execution of this Agreement, shall be reimbursed by the Company:
Preformation Expenses. Each party will bear its own expenses relating to the planning and formation of the Company, except that expenditures solely for the benefit of the Company incurred by either party prior to its formation shall be reimbursed by it upon its formation. Examples of such expenditures are:
(a) Cost of an option for a plant or plant site;
(b) Deposit against or cost of a plant or plant site;
(c) Deposits made on equipment for the plant;
(d) Salaries of employees of Nishikawa and Standard assigned full-time to this project.
(e) Cost of engineering and construction of the plant incurred before formation.
Preformation Expenses. Prior to making any distributions to the Members, the Company shall, to the extent approved by the Manager, disburse cash to the Members in the amounts necessary to reimburse each Member for all reasonable preformation or formation expenses (if any) earlier actually paid by such Member (or paid by others on such Member=s behalf). Such expenses may include those for drafting and filing the Certificate, drafting and implementing this Agreement to commence operations, acquiring Company property, and related matters. Any payment by the Company pursuant to this Section 3.07 shall be treated as a reimbursement of Company expenses paid to third parties who are not Members, and shall not be treated as a Company distribution. Preformation or formation expenses, if any, reasonably incurred by the Members to third parties which are unpaid on the Effective Date (to the extent approved by the Manager) shall be assumed and paid by the Company. The approvals by the Manager of preformation expenses may occur before formation or after formation. Any claim for preformation or formation expenses must be made, if at all, by notice to the Company, given within one year after the Company Creation Date.
Preformation Expenses. Each of the Partners will pay its own attorneys' fees and all other costs incurred by it in connection with the negotiation of this Agreement.