Direct expenditures Sample Clauses

The 'Direct expenditures' clause defines which costs are considered direct and therefore eligible for reimbursement or payment under an agreement. Typically, this clause specifies that only expenses directly attributable to the performance of the contract—such as labor, materials, and travel specifically required for the project—are included, while indirect or overhead costs are excluded. By clearly delineating what constitutes a direct expenditure, the clause ensures transparency in billing and helps prevent disputes over which costs can be charged, thereby promoting fair and efficient financial management between the parties.
Direct expenditures. 1. The eligible direct expenditures for a project are those expenditures which are identified by the project promoter and/or the project partner, in accordance with their accounting principles and usual internal rules, as specific expenditures directly linked to the implementation of the project and which can therefore be booked to it directly. The following direct expenditures are eligible provided that they satisfy the criteria set out in Article 4.1: a) the cost of personnel assigned to the project, comprising actual remuneration including social security charges and other statutory costs as applicable, provided that this corresponds to the project promoter’s and project partner’s usual policy on remuneration; b) travel and subsistence allowances for personnel and volunteers taking part in the project, provided that they are in line with the project promoter’s and project partner’s usual practices on travel costs; c) cost of new or second hand equipment provided that it is depreciated in accordance with generally accepted accounting principles applicable to the project promoter and generally accepted for items of the same kind. Only the portion of the depreciation corresponding to the duration of the project and the rate of actual use for the purposes of the project may be taken into account by the Fund Operator. In case the Fund Operator determines that the equipment is an integral and necessary component for achieving the outcomes of the project, the entire purchase price of that equipment may be eligible; d) costs of consumables and supplies, provided that they are identifiable and assigned to the project; e) costs entailed by other contracts awarded by a project promoter for the purposes of carrying out the project, provided that the awarding complies with the applicable rules on public procurement; and f) costs arising directly from requirements imposed by the project contract for each project. 2. Costs related to reconstruction, renovation, or refurbishment of a real estate shall not exceed 50% of the eligible direct cost of the project. 3. Where the entire purchase price of equipment is eligible in accordance with point (c) of paragraph 1, the Fund Operator shall ensure that the project promoter: a) keeps the equipment in its ownership for a period of at least five years following the completion of the project and continues to use the equipment for the benefit of the overall objectives of the project for the same period; b) keeps the equipment pr...
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Direct expenditures. 1. The eligible direct expenditures for the Project are those expenditures which are identified by the Project Promoter in accordance with its accounting principles and usual internal rules, as specific expenditures directly linked to the implementation of the Project and which can therefore be booked to it directly. The following direct expenditures are eligible provided that they satisfy the criteria set out in 4.1 above: the cost of personnel assigned to the Project, comprising actual remuneration including social security charges and other statutory costs, as applicable, provided that this corresponds to the Project Promoter’s usual policy on remuneration; travel and subsistence travel and subsistence allowances for staff and volunteers taking part in the Project, provided that they are in line with the Project Promoter’s usual practices on travel costs; cost of new or second hand equipment provided that it is depreciated in accordance with generally accepted accounting principles applicable to the Project Promoter and generally accepted for items of the same kind. Only the portion of the depreciation corresponding to the duration of the Project and the rate of actual use for the purposes of the Project may be taken into account by the Fund Operator. In case the Fund Operator determines that the equipment is an integral and necessary component for achieving the outcomes of the Project, the entire purchase price of that equipment may be eligible; costs of consumables and supplies, provided that they are identifiable and assigned to the Project; costs entailed by other contracts awarded by the Project Promoter for the purposes of carrying out the Project, provided that the awarding complies with the applicable rules on public procurement; and costs arising directly from requirements imposed by the Project Contract for the Project.
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Direct expenditures expenditures that are identified by the Project Promoter or the Partner in accordance with their accounting principles and usual internal rules as specific expenditures directly related to the implementation of the Project and can therefore be directly charged to the Project.
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Direct expenditures. (a) for the purposes of creating a competitive advantage for the Complex as a $ destination resort: (b) developments, facilities and services: $
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Related to Direct expenditures

  • Direct Expenses 1. Fees and expenses of its directors (except the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • 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.

  • 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.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).