Ordinary Expenditures definition
Ordinary Expenditures means costs and expenses that are deemed necessary by the Operator to (a) comply with all applicable Laws, (b) maintain the safety and integrity of the assets and operations, (c) preserve the value of the Company, including, but not limited to the payment of amounts due in the ordinary course such as insurance premiums, rents, taxes, salaries and amounts required to fulfill all legal obligations, and (d) protect the environment.
Examples of Ordinary Expenditures in a sentence
For each Fiscal Year, the activities and operations of the Company, including the Ordinary Expenditures, for such period shall be set forth in the applicable Budget.