Property Management Expenses definition

Property Management Expenses means the costs incurred in managing the Underlying Asset, including, but not limited to property management, taxes, maintenance, insurance, and utility costs.
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Property Management Expenses shall have the meaning set forth in Section 6.3A of this Agreement.
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Examples of Property Management Expenses in a sentence

  • Accordingly, the cost of dues, membership fees in professional organizations, attendance at seminars, trade shows, or similar events, and continuing professional education or training shall not be Property Management Expenses and shall not be reimbursable to the SWPM unless specifically approved by the Port Authority in writing in advance in each instance, such approval to be in the Port Authority’s sole discretion.

  • Except as otherwise expressly provided in this Agreement, the cost of obtaining required insurance is not included in Property Management Expenses.

  • Property Management Expenses are expenses that are unique to the performance of the Services under this Agreement and not generally considered part of home office Overhead.

  • Notwithstanding anything to the contrary herein contained, this Section 4.04 shall not apply in any manner whatsoever to any documentation filed by Parent (or any predecessor entity) with the SEC at any time prior to December 2, 2009.

  • For purposes of this Agreement, Property Management Expenses do not include amounts included in Direct Personnel Costs.

  • If and to the extent any incentive sought by Tenant is actually provided to and received by Landlord in connection with Landlord’s ownership of the Property, then the amount of such incentive or rebate shall be applied as a credit against the monthly installments of Base Rent, Insurance Costs, Taxes and/or Property Management Expenses as applicable until fully used and applied.

  • The SWPM agrees that, notwithstanding anything to the contrary contained in this Agreement, the total of the Management Fee, Direct Personnel Costs, and Property Management Expenses (exclusive of the cost of any Ancillary Service Contracts) in each year during the term of this Agreement shall not exceed the sum of $[ ] (the “Contract Amount Cap”).

  • Property Management Expenses do not include expenses that are usually and customarily included as part of the SWPM home office Overhead other than any Overhead which is incurred solely at or from the onsite office made available to the SWPM by the Port Authority in order to perform the Services (the “SWPM Onsite Office”).