Site Operating Expenses definition

Site Operating Expenses means all direct and indirect costs and expenses in each calendar year of operating, maintaining, insuring, managing and owning all of the Exterior Common Areas, including, without limitation, sums incurred for the following items: (i) real estate taxes and assessments of the Exterior Common Areas, (ii) landscaping and grass cutting; snow and ice; cleaning; removal of trash and other debris from the grounds; lighting; preventative maintenance; repairs; painting; parking lots; driveways; access roads; personnel to maintain the Exterior Common Areas; management fees; utilities; (iii) premiums incurred by Landlord to maintain a commercial liability insurance policy on the Exterior Common Areas on such terms (including amounts of coverage) as are customary and reasonable under the circumstances; and (iv) capital improvements which are (a) primarily for the purpose of reducing the Site Operating Expenses, or (b) required by governmental authorities, or (c) related to the parking lots, driveways, access roads, sidewalks, curbs, utility lines and/or walking trails. However, any capital expenditures shall be amortized on a straight line basis (with the period of the amortization to be reasonably determined by Landlord’s accountant based on the useful life of the capital expenditure), but not more than ten years and at an interest rate of one percent over the prime interest rate of Landlord’s lender, with the annual amortized cost included in the Site Common Expenses for each calendar year.
Sample 1
Site Operating Expenses shall include all reasonable and necessary expenses incurred by Landlord in the operation, maintenance, repair and management of the Site and the Common Areas of the Site, including, but not limited to, (a) repair, maintenance, utility costs and landscaping of the Site and the Common Areas of the Site, including any and all costs of cleaning, maintenance and repairs of common driveways, walkways, parking areas, landscaping, and other costs which are allocable to the Site and the Common Areas of the Sites under the terms of any CC&R's affecting the Project; (b) insurance deductibles (not to exceed $100,000 per calendar year) and premiums relating to the insurance maintained by Landlord with respect to the Site and the Common Areas of the Site; (c) service contracts for security, cleaning, janitorial and landscaping services, if any; (d) all wage and labor costs, including fringe benefits, applicable to persons engaged in the operation, maintenance and repair of the Site and the Common Areas of the Site as Landlord's agents or as independent contractors; and (e) capital improvements made to or capital assets acquired for the Site and the Common Areas of the Site after the Commencement Date that reduce Site Operating Expenses or are reasonably necessary for the health and safety of the occupants of the Project or are required under any present or future governmental law or regulation, which capital costs, or an allocable portion thereof, shall be amortized over the useful life of such items, together with interest on the unamortized balance at an annual interest rate equal to Landlord's good faith estimate of its cost of funds for such capital improvements or capital assets but in all events not in excess of the Applicable Interest Rate. Site Operating Expenses shall also include an administrative fee to Landlord for accounting and project management services relating to the Site and the Common Areas of the Site in an amount equal to ten percent (10%) of the sum of Site Operating Expenses (other than the administrative fee) and Site Real Property Taxes. Site Operating Expenses shall not include (i) repairs to the extent covered by insurance proceeds, or paid by Tenant or other third parties; (ii) alterations solely attributable to tenants of the Project other than Tenant; (iii) capital improvements made to correct any failure as of the Commencement Date of the Site and/or Common Areas of the Site to comply with governmental laws in effect and applicable to th...
Sample 1

Examples of Site Operating Expenses in a sentence

  • Mathers said he thought that some vessels may have onboard a US citizen that is the so-called master and that is why the USCG boarding officers are trained to ask a series of questions when they go onboard those vessels to try to determine who is actually in control of the vessel.

  • Compare the Calculated Site Operating Expenses for each Sample Site to the corresponding Data File Site Operating Expenses for each Sample Site and note agreement with the site operating expenses Sample Site Characteristic if the Calculated Site Operating Expenses equals the Data File Site Operating Expenses.

  • Estimated Expenses" for any particular year shall mean Landlord's estimate of Increases in Building Operating Expenses, Site Operating Expenses, Building Real Property Taxes and Site Real Property Taxes (collectively referred to as "Increases") for a calendar year.

  • If any audit conducted by Tenant pursuant to Paragraph 6.7 of the Lease reveals fraud or that the amount of the Building Operating Expenses or the Site Operating Expenses billed to Tenant is more than 5% in excess of Tenant’s Building Proportionate Share of actual Building Operating Expenses or Tenant’s Site Proportionate Share of actual Site Operating Expenses, then Landlord shall pay the reasonable costs and expenses incurred by Tenant in connection with such audit, not to exceed $2,500.00.

  • The public guardian* or public conservator* of the county named above or a private conservator referred by the court under Welfare and Institutions Code section 5978.

  • Percentage differences of +/- 2.5% or less (calculated as a percentage of the Site Operating Expenses, as shown on the Preliminary Data File).

  • Although youth and inexperience are known factors for psychological distress (14), most of the work looking at psychological complications of the care for in hospital dying patients has been done with experienced physician in department often confronted to end of life care such as in oncology, hospice and trauma departments (14).

  • Site Operating Expenses shall also include an administrative fee to Landlord for accounting and project management services relating to the Site and the Common Areas of the Site in an amount equal to ten percent (10%) of the sum of Site Operating Expenses (other than the administrative fee) and Site Real Property Taxes.

  • MISCELLANEOUS PROVISIONS SECTION 9.1 - AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN The Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board.

  • If during any calendar year the Building is not at least 95% occupied, Site Operating Expenses for such year shall be calculated based on a 95% occupancy rate for the Site.

Related to Site Operating Expenses

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following:

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • 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.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Reasonable Operating Expenses means expenses that arise from the operation, maintenance and routine repair of the Project, including all payments and deposits required under this Agreement and any of the Loan Documents, and that comply with the requirements of 24 C.F.R. 232.1007, or successor regulation.

  • Controllable Operating Expenses means those Project Operating Expenses for which increases are reasonably within the control of Landlord, and shall specifically not include, without limitation, Taxes, assessments, refuse and or trash removal, insurance, collectively bargained union wages, electricity and other utilities. There shall be no limitation on the amount of increase from year to year on Project Operating Expenses which are not Controllable Operating Expenses.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Approved Operating Expenses operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [Royce & Associates, LLC letterhead] December 31, 2008 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement – Royce Low-Priced Stock Fund (R Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Xxxxx Xxx-Priced Stock Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning January 1, 2009 and ending April 30, 2010 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its R Class of shares (the “Class”) are not more than 1.84% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2019 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Marketing Expenses means the sum of Marketing Management Expenses, Advertising and Market Research Expenses and Education Expenses.

  • Pre-Opening Expenses means, with respect to any fiscal period, the amount of expenses (other than interest expense) incurred with respect to capital projects that are classified as “pre-opening expenses” on the applicable financial statements of the Company and its Restricted Subsidiaries for such period, prepared in accordance with U.S. GAAP.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Total Fund Operating Expenses with respect to a Fund is defined to include all expenses necessary or appropriate for the operation of the Fund including the Adviser’s investment advisory or management fee under the Advisory Agreement and other expenses described in the Advisory Agreement that the Fund is responsible for and have not been assumed by the Adviser, but excludes front-end or contingent deferred loads, taxes, leverage expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired fund fees and expenses, and dividend expenses, if any.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk's office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replacements and office automation and information technology equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • O&M Costs as defined in the Depositary Agreement.

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”

  • Controllable Expenses means all expenses, other than Uncontrollable Expenses, incurred by the Company or any Subsidiary of the Company with respect to the Property.