Necessary Expenditures Clause Samples
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Necessary Expenditures. (a) all Emergency Costs, (b) all fees and reimbursements owed by the Company under the Asset Management Agreement and (c) all other expenditures whether or not of a recurring nature that are necessary for the Company to preserve, operate, maintain, improve or protect the Property or operate the business of the Company, including payment of any amounts due under the Hotel Management Agreement, funding of a KSL LP Mini Put Right, insurance payments, real estate tax payments, interest payments on any Loans, utility costs, repair and maintenance costs, costs of compliance with federal, state and local laws, codes, rules or regulations, and any other operating expenses or capital expenses set forth in the Annual Budget or otherwise Approved by the Class A Partners and including payment of the principal balance of a Loan upon its Maturity, but excluding payment of the principal balance of a Loan prior to its Maturity, unless such payment is required pursuant to the terms of the Loan Documents or has otherwise been Approved by the Class A Partners.
Necessary Expenditures. Fail to make any expenditures that are necessary and sufficient to maintain or, to the extent budgeted or consistent with the past practice, improve the conditions of its properties, facilities and equipment;
Necessary Expenditures. All Emergency Costs, and (b) all other expenditures whether or not of a recurring nature that are necessary for the Partnership or any SPE Owner to preserve, operate, maintain, or protect the US Commercial Properties, including payment of any amounts due under any Management Agreement, debt service or other payments required to be made by the Partnership or any SPE Owner as a part of any loan, insurance payments, real estate tax payments, utility costs, repair and maintenance costs, cost of compliance with federal, state and local laws, codes, rules or regulations, and any other operating expenses or capital expenses set forth in an Annual Plan or otherwise approved by the Partners pursuant to the terms of this Agreement.
Necessary Expenditures. (a) all Emergency Costs, (b) all fees and reimbursements owed by the Company under the Development Agreement and (c) all other expenditures whether or not of a recurring nature that are necessary for the Company to preserve, operate, maintain, improve or protect the Property or operate the business of the Company, including insurance payments, real estate tax payments, interest payments on any Loans, utility costs, repair and maintenance costs, costs of compliance with federal, state and local laws, codes, rules or regulations, and any other operating expenses or capital expenses provided for in the Development Agreement or otherwise Approved by the Class A Partners and including payment of the principal balance of a Loan upon its Maturity, but excluding payment of the principal balance of a Loan prior to its Maturity, unless such payment is required pursuant to the terms of the Loan Documents or has otherwise been Approved by the Class A Partners.
Necessary Expenditures all Emergency Costs, and (b) all other expenditures whether or not of a recurring nature that are necessary for the Partnership, or any Subsidiary to preserve, operate, maintain, improve or protect any of the Hotel Properties, including payment of any amounts due under the Hotel Management Agreements, debt service or other payments required to be made by the Partnership as part of a Loan, if any, insurance payments, real estate tax payments, utility costs, repair and maintenance costs, costs of compliance with federal, state and local laws, codes, rules or regulations, and any other operating expenses or capital expenses.
Necessary Expenditures. All expenditures, whether or not of a recurring nature, that are necessary for the Partnership to preserve, operate, maintain, improve or protect the Golf Course Property, including debt service or other payments required to be made by the Partnership as part of a Loan, if any, insurance payments, real estate tax payments, utility costs, repair and maintenance costs, costs of compliance with federal, state and local laws, codes, rules or regulations, and any other operating expenses or capital expenses.