Operating Expense definition

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.

Operating Expense means measurement of actual controllable and fixed operating costs divided by budgeted amounts. For purposes of calculating the Bonus, budgeted amounts are subject to revision by the Board in its discretion based on changes in business conditions or configuration of the business (e.g., items such as acquisitions or divestitures, unusual or non-recurring charges and changes in staffing relating to changed strategy approved by the Board will be considered as items for potential adjustment).

Operating Expense as defined in the Mortgage Loan Agreement.

Examples of Operating Expense in a sentence

• The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

• If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Operating Expense Limit.

• If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

• If the annualized Fund Operating Expenses for any month of a Fund exceed the Maximum Annual Operating Expense Limit of such Fund, the Adviser shall first waive or reduce its investment advisory fee for such month by an amount sufficient to reduce the annualized Fund Operating Expenses to an amount no higher than the Maximum Annual Operating Expense Limit.

• If the annualized Fund Operating Expenses for any month exceeds the Operating Expense Limit of the Fund, the Adviser shall first waive or reduce its investment advisory fee for such month by an amount sufficient to reduce the annualized Fund Operating Expenses to an amount no higher than the Operating Expense Limit.

More Definitions of Operating Expense

Operating Expense has the meaning specified in Section 1.01(a) of the Note Indenture.

Operating Expense means, with respect to any period of time, all costs and expenses paid (or due and payable) by Borrower (or by Property Manager for the account of Borrower) during such period relating to the operation, maintenance and management of the Properties to be included in the calculation, including, without limitation, utilities, repairs and maintenance, insurance, property taxes and assessments (which insurance, property taxes and assessments shall be calculated in accordance with GAAP), advertising expenses, payroll and related taxes, equipment lease payments permitted under the terms of this Agreement, a management fee equal to the greater of (i) 4% of Gross Revenues of the Properties to be included in the calculation for the applicable period or (ii) the actual management fees paid under the Management Agreement for such period, but excluding depreciation and amortization and any extraordinary non-recurring expenses. Operating Expenses shall be determined in a manner consistent with GAAP except as otherwise set forth herein. It is expressly understood that for purposes of calculating Operating Expenses, Operating Expenses shall be deemed to include a $50 per annum capital expenditure allowance per pad site located at the Properties.

Operating Expense means, with respect to any Portfolio Investment for any Measuring Period, the sum of (a) any costs which are specifically allocable to such Portfolio Investment, including the Operating and Personnel Payments derived from such Portfolio Investment but excluding any capitalised costs included in Acquisition Cost, plus (b) such Portfolio Investment’s allocable portion of all expenses not allocable pursuant to clause (a) hereof payable by a member of the Group and the Group’s allocable portion of expenses borne by entities in which a member of the Group has a direct or indirect ownership interest, not including (i) Operating and Personnel Payments, (ii) Interest Expense, or (iii) Recovery of Acquisition Cost. A Portfolio Investment’s allocable portion of the expenses specified in clause (b) above shall be equal to the product of (i) such expenses multiplied by (ii) a fraction, the numerator of which is the Operating and Personnel Payment derived from such Portfolio Investment during such Measuring Period and the denominator of which is the sum of Operating and Personnel Payments derived from all Portfolio Investments in such Portfolio during such Measuring Period.

Operating Expense means the expenses necessary to maintain the functions of the hospital including, but not limited to, any collection agency or debt collection expense;

Operating Expense means the following expenses incurred by Landlord in connection with the operation, repair and maintenance of the Building and the Land:

Operating Expense has the meaning specified in Section 1.01(a) of the Indenture.

Operating Expense. ' means any expense incurred in the operation of Gaming that is specifically designated as an Operating Expense in any Management Contract or which otherwise is so treated by application of Generally Accepted Accounting Principles.