Common use of Shared Facility Charges Clause in Contracts

Shared Facility Charges. Excluding any of the following that should be capitalized per GAAP or are in the nature of capital assessments, payments and costs incurred or assessed under the Condominium Documents and any other easement, license, permit, operating agreement, declaration, restrictive covenant, common area maintenance agreement or similar instrument relating to the Project including the underground parking facility serving the Project which may be shared with other properties, but excluding rent under any ground lease.