In Respect of Increase in Cost of Operations Sample Clauses

In Respect of Increase in Cost of Operations. The additional expenditure necessarily incurred for the sole purpose of avoiding or diminishing the reduction in revenue which but for that expenditure would have taken place during the “Indemnity Period” as a consequence of the “Damage”, but not exceeding the sum obtained by multiplying the amount of the reduction thereby avoided by the “Business Income Percentage”; less any sum saved during the “Indemnity Period” in respect of such of the charges and expenses of the “Business” payable out of “Business Income” as may cease or be reduced in consequence of the “Damage”.
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In Respect of Increase in Cost of Operations. The additional expenditure necessarily incurred for the sole purpose of avoiding or diminishing the reduction in revenue which but for that expenditure would have taken place during the “Indemnity Period” as a consequence of the “Damage”, but not exceeding the sum obtained by multiplying the amount of the reduction thereby avoided by the “Business Income Percentage”; less any sum saved during the “Indemnity Period” in respect of such of the charges and expenses of the “Business” payable out of “Business Income” as may cease or be reduced in consequence of the “Damage”. (1) Interruption by Civil Authority: This Form, subject to it’s terms and conditions, is extended to insure the loss of “Business Income” suffered by you during the period of time, not exceeding two weeks, while access to the “premises” is prohibited by order of civil authority, but only when such order is given as a direct result of damage to neighbouring premises by an peril insured against on the Policy to which this Form is attached. (2) Additional Time Required for Rebuilding due to the Operation of By-Laws: In the case of damage by a peril insured against, the insurance provided by this form extends to insure any increase in loss resulting from or contributed to by, the operation of any by-law, ordinance or law which regulates zoning or the demolition, repair, or construction of damaged buildings or structures, but shall in no way operate to extend the “Indemnity Period” (3) Key Employee Payroll Expense: This Form, subject to its terms and conditions, is extended to insure up to $10,000, or the amount shown on the “Declarations Page” as Payroll Expense, for “ordinary payroll” expense which may continue during a total or partial interruption of the “Business”. Indemnity is provided for “Payroll Expenses” only to the extent necessary to resume “Business” operations with the same quality of service which existed immediately preceding the “damage” and which would have been earned had no “damage” occurred. ADDITIONAL CONDITIONS
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Related to In Respect of Increase in Cost of Operations

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).

  • 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”).