Budgeted Expenses definition

Budgeted Expenses means, as of any Fixed Rate Payer Payment Date, the Expenses which the Calculation Agent and the Swap Counterparty, after consultation with the Administrator, are informed as of the 4th Business Day preceding such Fixed Rate Payer Payment Date (or, in the case of the first Fixed Rate Payer Payment Date, on the Closing Date), will fall due to be paid by the Issuer on or prior to the next following Fixed Rate Payer Payment Date or which have become due and payable and have not been previously funded by the Swap Counterparty.

Budgeted Expenses means expenses permitted to be paid by the Credit Parties in accordance with the DIP Budget, subject to the Permitted Variances.

Budgeted Expenses means the aggregate of the (a) general and administrative expenses (including reasonable overhead expenses), (b) personnel and employees costs, (c) planned asset maintenance expenses, and (d) other major categories, in each case that are included in the Approved Budget; provided, that “Budgeted Expenses” does not include Non-Discretionary Capital expenses (and for purposes of clarity, costs and expenses contained in any Approved Budget that do not constitute Non-Discretionary Capital expenses shall constitute Budgeted Expenses).

Examples of Budgeted Expenses in a sentence

• On any other date prior to the Enforcement Date, the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.

• On any other date prior to the Enforcement Date the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.

• Minimum reserve set by the commission is 12% of Budgeted Expenses.

• Unexpected Shortfall reserve set by commission at 10% of Budgeted Expenses.

• Budgeted Expenses + /- Cumulative Carryforward Surplus/Deficit Billable Units For example, a microscope costs approximately $100,000 per year to operate and has an estimated usage (activity level) of 1,500 hours during the year.

More Definitions of Budgeted Expenses

Budgeted Expenses means the expenses of the property which is the subject of the Mortgage set forth in a written summary, in form and content acceptable to Lender (the "Budget"). The Budget shall, as a minimum, set forth a twelve month summary by month of reasonable and ordinary expenses of the property reasonably consistent with historical experience. Borrower has submitted to the Lender the initial Budget for calendar year 2001 and agrees to submit the Budget for calendar year 2002 no later than November 30, 2001.

Budgeted Expenses means expenses permitted to be paid by the Credit Parties in accordance with the DIP Budget, subject to the Permitted Variances and the Permitted Carry.

Budgeted Expenses means the aggregate of the (a) general and administrative expenses (including reasonable overhead expenses), (b) personnel and employees costs,

Budgeted Expenses shall refer to line items contained on the Budget indicating categories of expenditures anticipated to be made by the Borrowers during the Budgeted Period.

Budgeted Expenses has the meaning set forth in Section 2(c).

Budgeted Expenses means for any period, the Operating Expenses for the Property to the extent set forth in an Approved Budget and actually incurred by Borrower minus payments into the Tax and Insurance Escrow Account and the Replacement Reserve Account. Budgeted Expenses shall not include any management fees payable to affiliates of Borrower.

Budgeted Expenses means those expenses described in the budget set forth in this Agreement, or any amendments thereto approved by USATF.