Administrative Member Costs definition

Administrative Member Costs means the actual third-party out-of-pocket costs reasonably incurred by the Administrative Member on behalf of or otherwise relating to or intended to benefit the Company or any Company Subsidiary, such as appraisal, legal, preparation of third party financial reports, (including the annual preparation of tax returns and/or audits of the Company as required) and to the extent authorized by BREA, diligence and investigation expenses with respect to the acquisition on new properties. Administrative Member Costs is not intended to include ESC’s general corporate overhead costs or the costs of any regional or divisional employees retained by ESC in relation to the Properties, or any costs or expense which are not the obligations of ESC in its capacity as property manager under a Management Agreement.
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Administrative Member Costs means the actual third-party out-of-pocket costs reasonably incurred by ESC on behalf of or otherwise relating to or intended to benefit the Company or any Company Subsidiary, such as appraisal, legal, preparation of third party financial reports, (including the annual preparation of tax returns and/or audits of the Company as required) diligence and investigation expenses with respect to the acquisition on new Properties. Administrative Member Costs is not intended to include ESC’s general corporate overhead costs or the costs of any regional or divisional employees retained by ESC in relation to the Properties, or any costs or expense which are not the obligations of ESC in its capacity as property manager under a Management Agreement. “Affiliate” of a person or entity (or words of similar import, whether or not capitalized) means (1) any officer, director, employee, trustee, , member, partner or; or (2) any corporation, partnership, limited liability company, trust or other person or entity controlling, controlled by or under common control with the entity in question (whether directly or indirectly through one or more intermediaries). Notwithstanding the foregoing, nothing herein shall be construed to apply to privately held entities and/or ventures owned and/or operated by Dxxxxx X. Xxxx. However, neither the Company nor any Company Subsidiary shall be deemed to be an Affiliate of any Member. For the purpose of this definition, “control” means the possession, directly or indirectly, of the power to decide, affirmatively (by direction) or negatively (by veto), the management and policies, whether through the ownership of voting securities or by contract or otherwise.
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Examples of Administrative Member Costs in a sentence

  • Investment Maintenance Costs and Administrative Member Costs shall be at the sole expense of the Company and shall be reimbursed promptly by the Company to BREA and ESC (or their respective Affiliates), as applicable, provided such third party expenses are without duplication of any other amounts paid or reimbursable by the Company.

Related to Administrative Member Costs

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and administering and carrying out the terms of the Settlement.

  • Administrative Party means an Arranger or the Facility Agent.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • Administrative Fees shall have the meaning assigned to such term in Section 2.06(b).

  • Administrative cost means a fee imposed to cover:

  • Administrative Fee is defined in Section 4.1(a).

  • Administrative unit Means an administrative unit established under the Public Sector Act 2009 and includes an administrative unit established while this Enterprise Agreement remains in force;

  • Administrative Charge means, with respect to any Lease, any payment (whether or not part of the fixed monthly payment) payable to the related Lessor representing a disposition fee, a late payment fee, an Extension Fee, an allocation to the related Lessee of insurance premiums, sales, personal property or excise taxes or any other similar charge.

  • Administrative User means any of Your employees, consultants, independent contractors or customers to whom You grant administrative permission to access the Services in accordance with Company’s entitlements and procedures and this Agreement (where “administrative permission” includes, but is not limited to, the right to create, modify and delete User accounts, as well as the right to access and modify Your billing information and other functionality available through Company’s administrative control panel).

  • Administrative merits determination means certain notices or findings of labor law violations issued by an enforcement agency following an investigation. An administrative merits determination may be final or be subject to appeal or further review. To determine whether a particular notice or finding is covered by this definition, it is necessary to consult section II.B. in the DOL Guidance.

  • Administrative Expenses means (i) all administrative and operating costs and expenses incurred by the Partnership, (ii) those administrative costs and expenses of the General Partner, including any salaries or other payments to directors, officers or employees of the General Partner, and any accounting and legal expenses of the General Partner, which expenses, the Partners have agreed, are expenses of the Partnership and not the General Partner, and (iii) to the extent not included in clause (ii) above, REIT Expenses; provided, however, that Administrative Expenses shall not include any administrative costs and expenses incurred by the General Partner that are attributable to Properties or partnership interests in a Subsidiary Partnership (other than this Partnership) that are owned by the General Partner directly.

  • Administrative Staff means all persons employed by the University who are categorised in terms of the Statutes as members of the administrative staff;

  • Administrative Agent’s Account means an account at a bank designated by the Administrative Agent from time to time as the account into which the Borrower shall make all payments to the Administrative Agent for the benefit of the Agents and the Lenders under this Agreement and the other Loan Documents.

  • Administrative penalty means a monetary fine imposed by the division for acts or

  • Administrative Expense means (a) any cost or expense of administration of the Reorganization Cases under section 503(b) of the Bankruptcy Code including, but not limited to (1) any actual and necessary post-petition cost or expense of preserving the Estates or operating the Debtors' assets and businesses, (2) any payment to be made under the Plan to cure a default on an assumed executory contract or unexpired lease, (3) any post-petition cost, indebtedness or contractual obligation duly and validly incurred or assumed by the Debtors in the ordinary course of business, and (4) compensation or reimbursement of expenses of professionals to the extent allowed by the Bankruptcy Court under section 327, 328, 330(a), 331, 503(b) or 1103 of the Bankruptcy Code, including, without limitation, the Futures Representative and its Representatives and (b) any fee or charge assessed against the Estates under 28 U.S.C. ss. 1930.

  • Final administrative decision means a decision by an agency

  • Deep poverty pocket means a population census tract having a

  • Active member means a member of the pension program or the individual account program

  • Member contributions means all amounts paid to ASRS by a member.

  • Member contribution means a contribution under regulation 32;

  • Deferred member means a person who elected to receive deferred vested retirement

  • Committee Member means a member of the Committee.

  • Administrative Plans means investment plans offered by the Management Company and approved by the Commission, where such plans allow investors a specific investment strategy in any one or a combination of Schemes managed by the Management Company in accordance with the conditions specified by SECP.

  • PJM Administrative Service means the services provided by PJM pursuant to Tariff, Schedule 9. PJM Board:

  • Construction Lender means a person who makes a construction loan.