Administrative and Operating Expenses Clause Samples

The "Administrative and Operating Expenses" clause defines which costs related to the management and day-to-day functioning of a business or project are covered or reimbursed under an agreement. This typically includes expenses such as salaries of administrative staff, office supplies, utilities, and other overhead costs necessary for operations. By clearly outlining what constitutes administrative and operating expenses, the clause helps prevent disputes over which costs are allowable, ensuring transparency and proper allocation of financial responsibilities between the parties.
Administrative and Operating Expenses. A. Total Administrative and Operating Expenses from all operations of Buyer. $ B. Administrative and Operating Expenses allocable to all sewer operations of Buyer $ C. Administrative and Operating Expenses allocable to operation of Johnstown Sanitary Sewer System $ D. Administrative and Operating Expenses allocable to operation of other sewer operations of Buyer $
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Administrative and Operating Expenses i. The State shall reimburse the Contractor for itemized administrative and operating expenses associated with the Work of an individual Work Order that are reasonably incurred in performing this Agreement. ii. The Contractor shall keep and maintain original invoices, receipts and/or other documentation for these expenses, and provide copies of them for review if requested by the State’s Project Manager. iii. Administrative and operating expenses shall be reimbursed at the Contractor’s cost with no ▇▇▇▇-ups, and include postage, overnight delivery or courier services, Project website subscription costs, and long-distance telephone charges, and reproduction of documents distributed to the State. iv. Prior to incurring any expenses greater than $2,500.00, the Contractor shall submit a detailed estimate of the expenses, for approval by the State’s Project Manager. v. Overnight delivery and courier services shall be at the Contractor’s cost with no ▇▇▇▇-up.
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Administrative and Operating Expenses. Ambac shall reimburse the Segregated Account for administrative and operating expenses of the Segregated Account, including but not limited to, fees, costs and expenses associated with the following: (a) management services, including all fees and payments pursuant to the Management Services Agreement; (b) financial advisor, consulting and legal services, including services for OCI or the Rehabilitator regarding matters that relate to AFGI or the Segregated Account regardless of whether such matters arose prior to or arise subsequent to the establishment of the Segregated Account; (c) indemnification under commercially reasonable indemnification agreements of the Segregated Account with providers of financial, consulting, or legal services; and (d) amounts due, including amounts due under indemnification provisions, under agreements executed prior to the establishment of the Segregated Account, by AFGI or the Segregated Account, for financial, consulting or legal services provided to OCI; provided, however, that, notwithstanding any provision of this Agreement to the contrary, Ambac shall have no obligations under this Section 4.02 (a) unless and until all principal under the Secured Note has been paid by Ambac or (b) at any time that Ambac’s surplus as regards policyholders, as reflected on its statutory financial statements (its “Surplus”) is less than $100,000,000, or such higher amount as determined by the OCI pursuant to a prescribed accounting practice (the “Surplus Amount”), or to the extent that such payment would result in Ambac’s Surplus being less than the Surplus Amount, it being understood that any payment deferred as a result of the foregoing in this clause (b) shall be due and payable at such time as the payment thereof would not result in Ambac’s Surplus being less than the Surplus Amount.
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Administrative and Operating Expenses i. The State shall reimburse the Contractor for itemized administrative and operating expenses that are reasonably incurred in performing the Work of this Agreement, provided that the Project Manager approves them. These expenses may include communication, clerical assistance, graphics, production, duplicating, and reasonable costs. ii. The total actual cost which the State may reimburse the Contractor, pursuant to this provision, shall not exceed TBD.
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Administrative and Operating Expenses. The LLC shall pay its own general administrative and operating expenses. It shall reimburse the Manager for any expenses incurred by the Manager that are properly considered ordinary and reasonable business expenses of the LLC, including without limiting the generality of the foregoing, stationery, office supplies, postage, accounting and legal fees related to the LLC’s business, notary, document preparation fees and escrow fees payable by the lender, and other ordinary and reasonable business expenses.
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Related to Administrative and Operating Expenses

  • Rent and Operating Expenses Section 4.1 Basic Rent Section 4.2 Operating Expenses Section 4.3

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall ▇▇▇▇ Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

  • Total Operating Expenses All costs and expenses paid or incurred by the Company, as determined under GAAP, that are in any way related to the operation of the Company or its business, including the Advisory Fee, 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 taxes incurred in connection with the issuance, distribution, transfer and registration of securities, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines; (vi) acquisition fees and Acquisition Expenses, (vii) real estate commissions on the sale of Real Property, and (viii) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgages or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property). The definition of “Total Operating Expenses” set forth above is intended to encompass only those expenses which are required to be treated as Total Operating Expenses under the NASAA REIT Guidelines. As a result, and notwithstanding the definition set forth above, any expense of the Company which is not part of Total Operating Expenses under the NASAA REIT Guidelines shall not be treated as part of Total Operating Expenses for purposes hereof. 2%/25% Guidelines. 2%/25% Guidelines shall have the meaning set forth in Section 13.

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.