Net Overhead definition
Net Overhead for any period, the difference between (a) the ------------ aggregate of all operating costs and expenses of the Borrower (including for rent, utilities, taxes and payroll) incurred or paid by the Borrower during such period on behalf of its Insurance Subsidiaries, other than payments of interest in respect of Indebtedness, minus (b) the aggregate of all management, servicing and other administrative fees paid by the Borrower's Insurance Subsidiaries to the Borrower during such period, including all amounts paid under service agreements.
Net Overhead means, for any period, the difference of (i) the aggregate of all operating costs and expenses of the Borrower and CMS (including, without limitation, for rent, utilities, taxes and payroll) incurred or paid by the Borrower or CMS during such period on behalf of the Insurance Subsidiaries, other than payments of interest in respect of Indebtedness, minus (ii) the aggregate of all management, servicing and other administrative fees paid by the Insurance Subsidiaries to the Borrower or CMS during such period, including, without limitation, all amounts paid under the Services Agreements.