Operating Obligations definition

Operating Obligations means, at any particular time, all of the then indebtedness, liabilities and obligations, absolute or contingent, direct or indirect, matured or unmatured, liquidated or unliquidated, of the Borrower to BNS arising under the Operating Credit Facility or created by reason of or in respect of the Operating Credit Agreement or any of the Security (calculated without duplication of the Obligations), including without limitation, all principal, unpaid interest, all fees due under the Operating Credit Agreement and all costs or expenses of BNS and any other sums payable to BNS under the terms of the Security (calculated without duplication of the Obligations), or otherwise pertaining to the Operating Credit Facility.

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Operating Obligations means the aggregate of all obligations incurred by Manager, or any agent on its behalf, in connection with or arising from the ownership, operation, management; repair, replacement, maintenance, and use or occupancy of the Property including without limitation expenditures for any of the following: (i) license and permit fees, landowner association fees, real estate and personal property taxes and assessments, and all other charges of any kind and nature by any governmental or public authority; (ii) management fees and reimbursable expenses incurred by Manager; (iii) advertising and marketing expenses, and leasing fees and commissions; (iv) legal, accounting, engineering, and other professional and consulting fees and disbursements; (v) accounts payable to contractors and vendors providing labor, material, services and equipment to the Property; (vi) premiums for insurance paid with respect to the Property or the operations thereof (vii) tenant improvements and property and equipment maintenance, repairs and replacements (including property used in connection with the Property) and segregated reserves therefor; (viii) refunds of security or other deposits to tenants and contracting parties; (ix) funds reserved for contingent or contested liabilities, insurance premiums, and other amounts not payable on a monthly basis; (x) service contracts and public utility charges and assessments; (xi) personnel administration charges and pre-employment screening and testing costs; (xii) on-site payroll costs including salary and wages, incentive bonuses, holiday and vacation pay, insurance benefits, worker’s compensation premiums or allocable costs for self insurance of such matters, pension and health and welfare payments, payroll taxes and other governmental assessments so long as such salary and wage costs and benefits conform to the Approved Operating Budget; and (xiii) costs of credit reports, bank charges and like matters. The payment of Operating Obligations shall constitute “Operating Expenditures.”

Operating Obligations means, at any particular time, all of the then indebtedness, liabilities and obligations, absolute or contingent, direct or indirect, matured or unmatured, liquidated or unliquidated, of the Borrower to BNS arising under the Operating Facility or Term Facility or created by reason of or in respect of this Agreement or any of the Security Documents, including without limitation, all principal, unpaid interest, all fees due under this Agreement, the face amount of any Letter of Credit or Bankers’ Acceptance issued under this Agreement, and all costs or expenses of BNS and any other sums payable to BNS under the terms of this Agreement or the Security Documents or otherwise pertaining to the Operating Facility or the Term Facility.

Examples of Operating Obligations in a sentence

The obligations of the Partnership hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the HEP Operating Obligations or otherwise.
The Partnership agrees that HFRM shall be entitled to enforce directly against the Partnership any of the HEP Operating Obligations.
The taking of any Security under this Agreement shall not operate by way of merger of any of the Obligations, the Operating Obligations or the Lender Risk Management Obligations.
The Partnership agrees that the Applicable Refinery Owner shall be entitled to enforce directly against the Partnership any of the HEP Operating Obligations.
If requested by Owner in writing and if sufficient funds are available in the Operating Account to satisfy all outstanding (and reasonably anticipated) Operating Obligations of the Property, Manager will apply any surplus operating funds to pay (to the extent of such surplus funds) the debt service and taxes due pursuant to any Federal, State, County or Municipal authority, or other similar body having jurisdiction thereover.
Upon notice of termination, Manager will submit to Owner an estimate of the additional funds required to pay all Operating Obligations incurred by the Property through the termination date.
In the event that funds in the Operating Account become insufficient to cover all Operating Obligations, Owner agrees to, within five (5) days after notice, deposit in the Operating Account sufficient funds to cover the deficiency.
Concessionaire’s Operating Obligations and other maintenance and repair requirements performed by City on behalf of and for the benefit of Concessionaire as listed in the Summary of Contract Provisions and as further described in Section 12.03 hereunder.
In any such event, the Borrower shall immediately pay to BNS all amounts owing or payable in respect of the Operating Obligations, failing which all rights and remedies of BNS hereunder and under the Security Documents shall thereupon become enforceable.
If the Borrower defaults in the due and punctual payment of any principal portion of any Obligations or Operating Obligations, when the same becomes due and payable, whether at maturity or otherwise.

More Definitions of Operating Obligations

Operating Obligations means, at any particular time, all of the then indebtedness, liabilities and obligations, absolute or contingent, direct or indirect, matured or unmatured, liquidated or unliquidated, of the Borrower to the Operating Lender arising under the Operating Credit Facility or created by reason of or in respect of the Operating Credit Agreement or any of the Security Documents (calculated without duplication of the Obligations), including, all principal, unpaid interest, all fees due under the Operating Credit Agreement, the face amount of any letter of credit or guarantee or bankers acceptance issued under the Operating Credit Agreement, and all costs or expenses of the Operating Lender and any other sums payable to the Operating Lender under the Operating Credit Agreement or the Security Documents (calculated without duplication of the Obligations) or otherwise pertaining to the Operating Credit Facility.

Operating Obligations. Any and all obligations of the Partnership to make payments or expenditures which are not Project Costs. Specifically included within the term "Operating Obligations," but subject to the provisions of the immediately preceding sentence, shall be all of the Partnership's obligation to pay overhead, operating and other expenses such as (i) salaries for employees and staff for the Amphitheaters, (ii) the reimbursement of Pace's overhead costs pursuant to Section 10.7(b) hereof, (iii) utility costs for the Partnership's Amphitheaters, (iv) insurance costs related to the maintenance of casualty and liability insurance for the Partnership's Amphitheaters, (v) regularly scheduled payments of principal and interest on indebtedness related to the Partnership's Amphitheaters such as Amphitheater Loans and Concession Loans, (vi) costs relating to maintenance, repair and upkeep of the Partnership's Amphitheaters and the personal property and equipment used in connection with the operation of the Partnership's Amphitheaters, (vii) costs for the purchase of office supplies and equipment at the Partnership's Amphitheaters, (viii) the costs directly attributable to or associated with the booking, production, presentation or promotion of any performance or events at any of the Partnership's Amphitheaters (such as artist costs, advertising costs and costs of staging), (ix) costs or expenses in excess of insurance proceeds which may be incurred as the result of any emergency, casualty or other unforeseeable occurrence at any of the Amphitheaters, (x) costs for defense or settlement of litigation, claims or assessments against the Partnership, (xi) any adverse judgments entered against the Partnership which are not covered by insurance and (xii) any and all rent and other payments due and Article I - Definitions Page 13 payable by the Partnership under and pursuant to the terms of any lease agreement to which it is a party.

Operating Obligations means the Indebtedness of the Borrowers owed to the Operating Lenders pursuant to the Operating Lease Documents