Void Costs definition
Void Costs means the amounts (together with VAT or any similar Taxes or charges thereon) of ground rent, rates, service charges, insurance premiums, management fees (other than the fees of the Asset Manager), repair and maintenance and any other outgoings whatsoever with respect to the Property to the extent that the same are not fully funded by the tenants under the Occupational Leases.
Void Costs has the meaning given to it in Clause 22.3.2 (Interest Cover).
Examples of Void Costs in a sentence
In order to receive payment, including Void Costs (see Schedule 1 para 3.4.2) your organisation will need to be set up on the Authority’s payment system.