Property Expenses definition

Property Expenses means the costs (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Property, which are the responsibility of the Borrower or the applicable Guarantor that are not paid directly by the tenant, including without limitation, the Annual Capital Expenditure Reserve and the greater of (a) 3% of rents and (b) actual management fees paid in cash, but excluding depreciation, amortization and interest costs.

Property Expenses means, as to any Real Property, the costs (including, but not limited to, management fees, payments under Ground Leases, bad debt expenses, payroll, real estate taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining such Real Property, which are the responsibility of the Borrower or the applicable Subsidiary that are not paid directly by the applicable Tenant, but excluding Debt Service, income tax expense, capital expenses, depreciation, amortization, interest costs and other non-cash expenses.

Property Expenses means, with respect to the Mortgaged Property, the following costs and expenses but only, in the case of costs and expenses in respect of goods and services, to the extent that they (x) are paid to Persons who are generally in the business of providing such goods and services, (y) are customary for the types of goods or services provided in the geographical area in which such goods or services are provided and (z) do not constitute Capital Improvement Costs:

Examples of Property Expenses in a sentence

• All Property Expenses that are: (i) incurred with respect to operations conducted or production prior to the Effective Time shall be paid by or allocated to Assignor; and (ii) incurred with respect to operations conducted or production from and after the Effective Time shall be paid by or allocated to Assignee.

• If any party that pays monies for Property Expenses which are the obligation of another party pursuant to Section 5.1(a) such paying party shall be reimbursed by the party responsible for such obligation pursuant to Section 5.1(a) no later than within five business days after the end of the month in which the applicable invoice and proof of payment of such invoice were received by such responsible party.

• After the Effective Time, each party shall be entitled to participate in all joint interest audits and other audits of Property Expenses for which such party is entirely or in part responsible under the terms of this Section 5.1.

• Assignee shall be responsible for all Property Expenses from and after the Effective Time.

• Assignor shall remain responsible for all Property Expenses attributable to the period of time prior to the Effective Time.

More Definitions of Property Expenses

Property Expenses is defined in Exhibit D attached hereto.

Property Expenses means, when used with respect to any Real Property Asset, the costs of maintaining and operating such Real Property Asset, calculated in accordance with GAAP, which are the responsibility of the owner thereof and that are not paid directly by the tenant thereof, including, without limitation, real estate taxes, insurance, repairs and maintenance, but provided that if such tenant is more than 60 days in arrears in the payment of base or fixed rent, then such costs will also constitute "Property Expenses", but excluding depreciation, amortization and interest costs.

Property Expenses means any or all, as the context requires, of the following:

Property Expenses shall not include: (i) debt service payments pursuant to any Encumbrance or any other loans or borrowings of Landlord; nor (ii) except as set forth above, payments pursuant to equipment leases or other forms of financing obtained for the furniture, fixtures and equipment located in or connected with the Retirement Community (such payments shall be paid out of the Reserve in accordance with Section 5.1.2), nor (iii) rental payments pursuant to any ground lease, nor (iv) any other payments which are designated as Landlord's responsibility under any of the provisions of this Agreement or as the Tenant's responsibility as "Owner" under the Operating Agreement, all of which shall be paid by Landlord from its own funds, and not from Total Facility Revenues nor from the Reserve. Unless otherwise specifically set forth in this Agreement, all the costs and expenses of the Retirement Community shall be Property Expenses. EXHIBIT "E"

Property Expenses shall have the meaning given to such term in Section 11.2(b) hereof.

Property Expenses means all costs and expenses (other than Taxes) that are incurred in the ordinary course of business in the ownership or operation of the Assets, including, without limitation, all drilling costs, all capital expenditures and all regular overhead charges under applicable Third Party operating agreements.

Property Expenses means those expenses more particularly described on Exhibit "H" attached hereto.