Community Expenses definition

Community Expenses means, collectively, those costs and expenses that are directly related to the ownership, operation, leasing and staffing of any Community in accordance with this Agreement and any other costs and expenses that are expressly provided for in this Agreement to be “Community Expenses,” which expenses and payment of expenses shall be administered by Tenant from any Community’s Gross Revenues in accordance with this Agreement (individually, a “Community Expense”). In calculating Community Expenses for any one Accounting Period, expenses for any Community that are attributable to longer periods of time shall be appropriately pro-rated and allocated to that month (e.g., 1/12 of an annual tax payment, 1/3 of a quarterly service agreement payment). “Community Expenses” shall not, however, include any of the following: (i) payments of indebtedness under any Community Mortgage; (ii) cost or expenses incurred in violation of this Agreement; (iii) costs or expenses attributable to any Liabilities that are covered by the indemnity obligations of Tenant pursuant this Agreement or which otherwise are the express responsibility or obligation of Tenant under this Agreement; (iv) costs incurred by Tenant for political or charitable contributions; or (v) any other costs or expenses that are expressly provided elsewhere in this Agreement to not be a Community Expense or Community Expenses.

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Community Expenses shall not, however, include any of the following: (i) payments of indebtedness under any Community Mortgage; (ii) cost or expenses incurred in violation of this Agreement; (iii) costs or expenses attributable to any Liabilities that are covered by the indemnity obligations of Tenant pursuant this Agreement or which otherwise are the express responsibility or obligation of Tenant under this Agreement; (iv) costs incurred by Tenant for political or charitable contributions; or (v) any other costs or expenses that are expressly provided elsewhere in this Agreement to not be a Community Expense or Community Expenses.

Community Expenses means and refer to all expenditures made or expenses incurred by or on behalf of the Community Association and the Trust, as hereinafter defined, together with all funds assessed for creating or maintaining reserves, as provided in this Declaration.

Examples of Community Expenses in a sentence

Payment of the Community Expenses, excluding the Base Fee, shall be made in the ordinary course of business to the extent of available Gross Revenues and Working Capital.
In calculating Community Expenses for any one Accounting Period, expenses for any Community that are attributable to longer periods of time shall be appropriately pro-rated and allocated to that month (e.g., 1/12 of an annual tax payment, 1/3 of a quarterly service agreement payment).
The term “Net Operating Income” means, as of the end of the applicable period for which Net Operating Income is determined, the difference between Gross Revenues and Community Expenses; provided, however, that all of the items excluded from Gross Revenues pursuant to clauses (i) through (xii) (other than clauses (vii) and (ix)) of the definition of “Gross Revenues”, to the extent actually collected by Tenant, shall be included in Gross Revenues for purposes of calculating Net Operating Income.
The parties agree that so long as a Community is subject to this Agreement, all Working Capital and all Gross Revenues of such Community shall be pooled pursuant to this Agreement and disbursed to pay all Aggregate Community Expenses, fees and other amounts due Manager and Owners (not including amounts due pursuant to Section 15.05 of the Management Agreements) with respect to the Communities and that the corresponding provisions of each Management Agreement shall be superseded as provided in Section 3.03.
The Approved Budget shall include an operating budget (the “Operating Budget”) for each Community setting forth the estimated operating revenues and expenses related to the operation, marketing and leasing of such Community, including, without limitation, Employment Costs, third party expenses and payments to Tenant for out-of-pocket expenses, including travel costs associated with special projects and other Community Expenses for the Term.
The expenses for all such items and marketing program shall be included in the Approved Budget, and the actual expenses therefor shall be paid out of the Bank Account in accordance with the CMP and treated as Community Expenses.
Except as otherwise expressly provided in this Agreement, all fees, costs, expenses, liabilities, payments and purchases arising out of, relating to or incurred in the ownership, operation or financing of the Communities, including, without limitation, the fees, costs, payments and expenses of consultants and professionals, Community Expenses, capital expenditures and any costs associated with any Controlling Documents, shall be the sole responsibility of Landlord.
Each Party shall provide to each other Party, a true and correct copy of each agreement that it or its Affiliates enter into (including any amendments thereto) relating to Reimbursable Community Expenses.
Payment of the Aggregate Community Expenses, excluding the Aggregate Base Fee, shall be made in the ordinary course of business.
If the termination occurs on a day other than the last day of a calendar month, the parties shall exclude such prorated amounts of the Gross Revenues and Community Expenses (and other amounts as may be necessary) applicable to such Community for such calendar month, as mutually agreed in their reasonable judgment, in the calculation of Aggregate Gross Revenues and Aggregate Community Expenses (and other amounts as may be necessary) for the calendar month in which the termination occurred.

More Definitions of Community Expenses

Community Expenses means and refer to those costs and expenses incurred by or on behalf of the Association arising out of or connected with the maintenance, improvement and operation (including capital repairs and replacements) of Cold Spring Ranch and the operation of the Association as described in Article VII hereof, other than Rear Loaded Cottage Expenses, Townhome Expenses, Rear Loaded Townhome Expenses and Twin Home Expenses.

Community Expenses means expenditures made by or financial liabilities of the Association, together with any allocations to reserves as further described in 6.2.1 below, and, as applicable to Lots with Design Features, Community Expenses shall include those certain costs and expenses assessed by the Association against all Owners of such Lots and payable in accordance with the Design Features Assessment share formula described in Section 6.4 below.

Community Expenses means and refer to those costs and expenses arising out of or connected with the maintenance and operation of Eagle Bend West Subdivision and the Association and the maintenance of Water Resources and Offsite Water Features as described in Article VII hereof and which determine the Annual Assessments made to Owners.