General Corporate Overhead definition
General Corporate Overhead means all expenses that are not primarily associated with Development functions. Such expenses include salaries and benefits of executive officers (unless primarily involved in Development activities), administrative support for such officers, and all costs of the finance, purchasing, legal (including both in-house and outside counsel), business development and corporate development functions.
General Corporate Overhead shall have the meaning set forth in Appendix C. [*] = Certain confidential information contained in this document, marked by brackets, has been ommitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24B-2 of the Securities Exchange Act of 1934, as amended.
Examples of General Corporate Overhead in a sentence
The funds in the Expense Account shall be a reserve to be applied by the Administrative Agent to pay any unpaid General Corporate Overhead Expenses and General Restructuring Costs; provided that in no event shall the members of the Transit Group pay more than 58% of the Borrower's total General Corporate Overhead Expenses and General Restructuring Costs.
The funds in the Expense Account shall be a deposit to be applied by the Administrative Agent to pay any unpaid General Corporate Overhead Expenses and General Restructuring Costs; provided that in no event shall the members of the TP&S Group pay more than 42% of the Borrower's total General Corporate Overhead Expenses and General Restructuring Costs.