Facility Expenses definition

Facility Expenses as used herein shall mean and include all personnel and other expenses incurred in connection with the operation of the Facility, including, without limitation, all expenses described in Section 4 below, but specifically excluding any Management Fees and all Facility Financing.

Facility Expenses shall have the meaning ascribed to such term in the Management Agreements.

Facility Expenses shall include all expenses incurred in the course of the operation of the Facility during the Lease Term including, but not limited to, the Service Fee, the salaries, bonuses, commissions, state and federal payroll and social security tax obligations and benefits paid to or on behalf of the employees of the Facility, any out of pocket costs incurred by [Emeritus/EmeriCare] in preparing the Facility tax returns and any taxes due thereunder and any penalties or interest related to the payment thereof; the cost of all Facility supplies, utilities and equipment; any expenses incurred by [Emeritus/EmeriCare] in billing for services rendered at the Facility and/or in collecting or attempting to collect the accounts receivable of the Facility; and the cost of all insurance premiums due with respect to any insurance policies or programs which provide coverage for the Facility and any deductible, retention amounts or security payments related to claims or potential claims made under such insurance policies.

Examples of Facility Expenses in a sentence

• Payment of the Aggregate Facility 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 Facility Expenses (and such other amounts as may be necessary) applicable to such Facility for such calendar month, as mutually agreed in their reasonable judgment, in the calculation of Aggregate Gross Revenues and Aggregate Facility Expenses (and such other amounts as may be necessary) for the calendar month in which the termination occurred.

• The parties agree that so long as a Facility is subject to this Agreement, all Working Capital and all Gross Revenues of such Facility shall be pooled pursuant to this Agreement and disbursed to pay all Aggregate Facility Expenses, fees and other amounts due Manager and TRSes (not including amounts due pursuant to Section 15.05 of the Management Agreements) with respect to the Facilities and that the corresponding provisions of each Management Agreement shall be superseded as provided in Section 3.03.

• Except as set forth in this Section 7.01, the Gross Revenues and Facility Expenses of the Additional Facility earned or incurred prior to the date that an Additional Facility was made subject to this Agreement will be excluded from Aggregate Gross Revenues and Aggregate Facility Expenses unless otherwise agreed by TRSes and Manager.

• The Settlement Facility shall be responsible for fulfilling all other obligations under the Settlement Facility Agreement and shall be exclusively responsible for paying all Settlement Facility Expenses.

More Definitions of Facility Expenses

Facility Expenses means those costs and expenses directly related to the operating costs of the Facilities, which expenses and payment of expenses shall be administered by the Owner from the Facilities' income derived as further set forth herein. Facility Expenses shall not include debt service and property taxes.

Facility Expenses shall have the meaning assigned to that term in Section 13.3.

Facility Expenses means for the requisite period the sum of the following items:

Facility Expenses means in each Financial Year the total sum of all rates, taxes, payments, costs, liabilities and expenses incurred by the Association, and which have been properly and reasonably assessed and paid (or assessable and payable) or otherwise incurred:

Facility Expenses shall have the meaning, with respect to each Property, given such term in the Management Agreement for such Property.

Facility Expenses means those costs and expenses directly related to the operation, maintenance, repair and staffing of the Facility which are in accordance with the Approved Budget or otherwise approved by the Owner or permitted to be incurred by Manager pursuant to the express terms hereof, and which expenses and payment of expenses shall be paid by the Manager from the Facility’s Gross Revenues, including, but without duplication:

Facility Expenses which is used, but not defined, in the Management Agreement.