Owner’s Expense definition

Owner’s Expense or “Owner’s Expenses” means any and all expenses paid for by Owner from Owner’s own funds on a cash basis and not from the Bank Accounts (unless otherwise expressly allowed herein), which shall not be a Property Expense.
View Source
Owner’s Expense means any and all costs and expenses incurred by Owner or by Operator, for and on behalf of Owner, under this Agreement and for Owner’s account and at Owner’s separate expense to be paid by Owner from Owner’s own funds (a) from the Agency Accounts, but only if and to the extent there are available funds after Gross Operating Profit has been determined and Management Fees, debt service and Hotel Expenses have been paid, or (b) on a cash basis from Owner.
View Source

Examples of Owner’s Expense in a sentence

  • Owner agrees to provide Owner’s Expense Notice at least thirty (30) days prior to the date on which the first payment by Operator is due, and such Owner’s Expense Notice shall only be revocable upon thirty (30) days prior written notice from Owner.

  • Upon Owner’s written request and direction, Operator shall pay on behalf of Owner from the Agency Account (but only to the extent that such funds are available in the Agency Account following the payment of all Operating Expenses and Fixed Charges), such other Owner Expenses as may be requested by Owner; provided, however, Operator will not be required to pay such Owner Expenses until Operator receives Owner’s Expense Notice.

  • At all times during the Term, Manager shall assist Owner in procuring, at Owner’s Expense, and Owner shall maintain Business Interruption Insurance for the Managed Facilities in accordance with the requirements set forth in Exhibit E attached hereto.

  • Towed at Owner’s Expense Any of the following infractions may result in the loss of campus parking privileges either temporarily or permanently.

  • The compensation to Manager for the risk management services provided by Manager under Section 4.12 shall be in addition to the Management Fees and shall be an Owner’s Expense to the extent pre-approved by Owner’s Supermajority Consent or included in the approved Annual Budget.

  • If Owner provides Owner’s Supermajority Consent or does not respond within 5 Business Days after Manager’s request to Owner for Owner’s Supermajority Consent, Manager may nevertheless proceed with such extraordinary repairs and enter into such contracts or obligations on Owner’s behalf and at Owner’s Expense and may pay for the same with funds in the Bank Accounts.

  • Owner shall compensate Manager for its construction management services described in Sections 4.3a and 4.5 in an amount equal to five percent (5%) of the respective construction contract, which compensation shall be in addition to the Management Fees and shall be an Owner’s Expense.

  • Manager shall provide, at Owner’s Expense, risk management services, including the provision of insurance as required under Article X below and administration and control of insurance claims and other losses to the Property; however, such Owner’s Expense must be pre-approved by Owner’s Supermajority Consent unless included in the approved Annual Budget.

  • If a third party provides such construction management services, the fees, costs and expenses charged by such third party shall be paid for by Owner as an Owner’s Expense; however, such Owner’s Expense must be pre-approved by Owner’s Supermajority Consent unless included in the approved Annual Budget.

  • The commissions to Manager and to other real estate brokers and consultants to lease vacant spaces in the Property shall be in addition to the Management Fees and paid in accordance with Section 4.14 and shall be an Owner’s Expense.

Related to Owner’s Expense

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Extra Expense means expense or cost incurred (1) to continue the conduct of the Assured’s business,

  • Lenders’ Expenses are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses, as well as appraisal fees, fees incurred on account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders in connection with the Loan Documents.

  • Operating Cost means the total cost and expense incurred in operating, managing, insuring, equipping, lighting, repairing, maintaining and policing the Real Property, including the exterior of the Real Property and the common areas, and specifically including, without limitation, items of expense for or related to: insurance premiums and deductibles, management, bookkeeping.

  • Covered Expense means expense incurred only for the following: