Budgeted FOC definition
Budgeted FOC means fixed operating costs and maintenance capital arising out of, relating to, or connected with the Freeport Facility pursuant to the budgets prepared pursuant to the Stockholders Agreement dated as of the date hereof between Freeport LNG-GP, Inc., a Delaware corporation, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ and Customer, as amended from time to time; provided that the amount of fixed operating costs and maintenance capital shall be reduced by (a) any insurance proceeds (including proceeds from business interruption insurance policies which premiums were included in Actual FOC) received by FLNG which have the effect of offsetting fixed operating costs; (b) any premiums for business interruption insurance if the proceeds from such insurance would not have the effect of offsetting fixed operating costs; (c) any indemnities, liabilities, damages, credits or rebates received by FLNG from third parties (excluding Other Customers) which offset amounts included in Actual FOC; (d) any indemnities, liabilities, or damages received by FLNG from Other Customers which offset amounts included in Actual FOC; (e) any bonuses paid to employees of FLNG to the extent that such bonuses are based on or attributable to distributions to any of FLNG’s limited partners; (f) any New Taxes and New Regulatory Costs borne by FLNG pursuant to Section 4.4; (g) any permitting, engineering, development, financing, design and environmental remediation costs paid to third parties which costs are directly related to the development of any modification that significantly expands the Freeport Facility; (h) Awards; (i) all indemnities, liabilities, and other damages arising from any arbitral award, expert determination, judgment, or settlement payable by FLNG to any Indemnitee (as defined in the Partnership Agreement of FLNG); (j) fixed operating costs and maintenance capital which are incurred outside the normal course of business and which benefit solely Other Customers; (k) marketing expenses paid to third parties related solely to potential Other Customers; (l) costs incurred in connection with Tranche B Loans and TPS Loans (each as defined in the Credit Agreement); and (m) Excluded Credit Agreement Amounts. For the avoidance of doubt, Budgeted FOC shall not include capital expenditures (other than maintenance capital) incurred by FLNG, amounts payable by Customer under the *** and other debt service.
Budgeted FOC means fixed operating costs (including maintenance capital) pursuant to the Operating Budget (as such term is defined under that certain Stockholders Agreement dated as of the date hereof between Freeport LNG-GP, Inc., a Delaware corporation, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ and Customer, as amended from time to time); (a) any insurance proceeds (including proceeds from business interruption insurance) received by FLNG which have the effect of offsetting fixed operating costs, (b) any bonuses paid to employees of FLNG to the extent that such bonuses are based on or attributable to distributions to any of FLNG's limited partners, (c) any New Taxes and New Regulatory Costs borne by FLNG pursuant to Section 4.4, (d) any permitting, engineering, development, financing, design and environmental remediation costs paid to third parties which costs are directly related to the development of any modification that significantly expands the Freeport Facility; (e) Awards; and (f) all indemnities, liabilities, and other damages arising from any arbitral award, expert determination, judgment, or settlement payable by FLNG to any Indemnitee (as defined in the Partnership Agreement of FLNG). For the avoidance of doubt, Budgeted FOC shall not include capital expenditures (other than maintenance capital) and debt service incurred by FLNG.