Technical Expenses definition

Technical Expenses means all operating and non-operating expenses, determined on an accrual basis and without mark-▇▇, incurred by Administrator and/or Parent or their Affiliates to the extent incurred in connection with the Technical Operations including, without limitation: (i) salaries, benefits and other direct costs of employees of Administrator who perform services solely for the Technical Operations, and all salaries and benefits of Technical Employees; (ii) direct costs of all employees of Administrator engaged to provide services solely to improve performance of the Technical Operations; (iii) leases for assets utilized solely for the benefit of the Technical Operations; (iv) personal and property taxes assessed against Administrator's assets utilized solely for the benefit of the Technical Operations; (v) interest on indebtedness incurred solely by Administrator in connection with making advances and capital available to the Technical Operations; (vi) any provider tax assessed against the Technical Operations and any sales and use tax related solely to the Technical Operations; (vii) direct expenses of requisite and obligatory licensing and insurance costs solely related to the Technical Operations; (viii) any amortization of any intangible asset set forth on Parent's, Administrator's or their applicable Affiliates' financial statements (as applicable) to the extent used solely in connection with the Technical Operations, provided, however, no amortization with respect to goodwill of the Acquisition shall be set forth on such financial statements; (ix) any depreciation of assets to the extent used solely in connection with the Technical Operations; and (x) other expenses incurred by Administrator in providing services solely for the direct benefit of the Technical Operations; provided, however, that Administrator Expenses, Professional Expenses and Excluded Practice Expenses shall not be included in Technical Expenses.
View Source

Examples of Technical Expenses in a sentence

  • The Group shall be entitled to an advance from Administrator of such additional sums, over and above the Group's right to the amounts otherwise set forth in this Article VII, as shall be required by the Group to pay Practice Expenses (excluding Technical Expenses) consistent with the annual capital and operating budgets of the Practice (prepared as provided in Section 3.5 hereof), the Service Fee as provided in Exhibit 7.1 hereto and Excluded Practice Expenses at the discretion of Administrator.

  • To the extent the Premises or Personal Property are used in connection with the Professional Operations, the costs and expenses associated with such usage shall be allocated between Professional Expenses and Technical Expenses as approved by the Joint Planning Board.