Operating Expenses definition

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.

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Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.

Operating Expenses means all unreimbursed fees, costs and out-of-pocket expenses of the Issuer, including all amounts owed by the Issuer to the Indenture Trustee (including indemnities, legal, audit fees and expenses) or any Manager, the Servicing Fee, the Administration Fee, legal and accounting fees, Rating Agency fees, any Regulatory Assessment Fees and related fees (i.e. website provider fees) and any franchise or other taxes owed by the Issuer, including on investment income in the Collection Account.

Examples of Operating Expenses in a sentence

• Each Series will reimburse the Manager for Offering Expenses actually incurred by the Manager on behalf of a Series in accordance with the Allocation Policy and as determined by the Manager in its reasonable discretion (and excludes ongoing costs described in Operating Expenses).

• Each Series shall be responsible for its Operating Expenses as allocated to it in accordance with the Allocation Policy and as determined by the Manager in its reasonable discretion.

• Operating Expenses are such costs and expenses incurred in connection with the operation and management of the Series Property, including but not limited to HOA fees, Property security and maintenance, insurance, interest expenses (as applicable) banking and transactional fees, legal expenses arising from Property operations, and any similar expenses that may be determined to be Operating Expenses, as determined by the Manager in its reasonable discretion.

• On each Weekly Allocation Date, the Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to withdraw on such date an amount equal to the lesser of (i) the sum of all Securitization Operating Expenses then due and payable and (ii) the amount on deposit in the Securitization Operating Expense Account after giving effect to any deposits thereto pursuant to the Priority of Payments on such date and apply such funds to pay any Securitization Operating Expenses then due and payable.

• The Parties agree and recognize that Sublessee shall pay Fixed Operating Expenses (“FOE”) as set forth in the Master Lease: Monthly Operating Expenses: $2,853.131 Capital Repairs/Replacements: $499.24 Total FOE: $3,352.37 The Parties agree and affirm that the FOE shall automatically increase on the first day of each full calendar year anniversary of the Sublease Commencement Date at a rate of 4.30%, per the terms of the Master Lease.

More Definitions of Operating Expenses

Operating Expenses shall include:

Operating Expenses means the total costs and expenses paid or incurred by Landlord in connection with the ownership, operation, maintenance, management and repair of the Premises, the Building and/or the Project or any part thereof, including, without limitation, all the following items:

Operating Expenses means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to the operation of the Company or to Company business, including fees paid to the Advisor, 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 loan reserves, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property.

Operating Expenses means all cash expenses actually incurred by or charged to Borrower (appropriately pro-rated for any expenses that, although actually incurred in a particular period, also relate to other periods), with respect to the ownership, operation, leasing and management of the Property in the ordinary course of business, determined in accordance with GAAP, including, without limitation: (A) personal property taxes and real estate taxes; (B) sales taxes or any tax on rents (unless netted against Operating Income); (C) wages, salaries, payroll taxes and employee benefits; (D) costs of utility services; (E) maintenance, repair and custodial costs; (F) premiums payable for insurance carried on or with respect to the Property; (G) office supplies, other administrative expenses and professional fees; (H) costs of advertising and marketing for the Property; (I) costs of telephone service; (J) costs of garbage removal; (K) an allowance for income items that are determined to be uncollectible; (L) if a property or asset manager has been engaged by Borrower, any compensation, fees or reimbursements paid to such property or asset manager; if a property or asset manager has not been engaged by Borrower, all management related and head office expenses and salaries incurred by Borrower (but not less than 1.75% of Operating Income) and (M) ground rents. Notwithstanding the foregoing, Operating Expenses specifically exclude (1) capital expenditures, (2) depreciation and amortization, (3) payments made in connection with the payment of the outstanding principal balance of the Loan, (4) costs of Restoration following a Casualty or Condemnation, (5) funds disbursed from any Reserve Account, (6) any other non-cash items, including without limitation, allocation of rent in excess of scheduled lease payments and corporate allocation of expenses amongst the Macquarie Group, (7) interest expense and (8) all income tax expenses. Solely for purposes of calculating the Debt Service Coverage Ratio under Sections 2.03(d)(ii)(F) and 10.03(a)(iv) and the Debt Service Coverage Constant Ratio under Section 2.03(d)(ii)(D) and 10.03(a)(iv), Operating Expenses under clause (L) above shall be deemed capped at the higher of (x) the actual management fee paid to any third party property manager and (y) 1.75% of Operating Income.

Operating Expenses means and include all Project Costs, as defined in Section (g) below, and Property Taxes, as defined in Section (h) below.

Operating Expenses means the reasonable operating expenses of the authority, including without limitation the cost of preparation of accounting and other reports, costs of maintenance of the ratings on the bonds, insurance premiums, and costs of authority meetings or other required activities of the authority, counsel fees, including the fees of the attorney general, and fees and expenses incurred for consultants and fiduciaries and any other costs described in section 4(12).

Operating Expenses means in respect of each Series, the following fees, costs and expenses allocable to such Series or such Series pro rata share (as determined by the Allocation Policy, if applicable) of any such fees, costs and expenses allocable to the Company: