General Partner Overhead definition

General Partner Overhead means those customary and routine expenses incurred by the Managing General Partners (excluding all Organizational and Offering Expenses) in performing their obligations to the Partnership, including: (i) rent or depreciation, utilities, property taxes, and the cost of capital equipment unless acquired primarily for the benefit of the Partnership; and (ii) expenses of a general and administrative nature that are customarily incurred by the General Partners for their own accounts and are not attributable to the Partnership.

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Examples of General Partner Overhead in a sentence

• The Management Fee compensates the Managing General Partners solely for General Partner Overhead and is in addition to the reimbursement of actual Operational Costs.

• The Managing General Partners will pay all General Partner Overhead and Organizational and Offering Expenses (exclusive of amounts due to the Dealer- Manager under Section 4.03 and subject to the Partnership's reimbursement of such expenses pursuant to 4.01(a) above).

• The Managing General Partners will pay all General Partner Overhead and Organizational and Offering Expenses (exclusive of amounts due to the Dealer- Manager under Section 4.03 and subject to the Partnership's reimbursement of such expenses pursuant to 4.01 (a) above).

• The Managing General Partners will pay all General Partner Overhead and Organizational and Offering Expenses (exclusive of amounts due to the Dealer-Manager under Section 4.03 and subject to the Partnership's reimbursement of such expenses pursuant to 4.01(a) above).