Direct Operating Expense definition

Direct Operating Expense means for any given period of time the fixed and variable expenses of operating the Project on an accrual basis, limited to the following expenses, as applicable: 1) administrative (i.e. accounting and auditing, attorney and payroll); 2) operating and management expenses and fees (i.e. utilities, marketing, leasing, advertisement, commission and promotional costs);
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Direct Operating Expense means for any given period of time the fixed and variable expenses of operating the Project on an accrual basis, limited to the following expenses, as applicable: 1) administrative (i.e. accounting and auditing, attorney and payroll); 2) operating and management expenses and fees (i.e. utilities, marketing, leasing, advertisement, commission and promotional costs); 3) maintenance and repair costs of the Project; 4) general real estate taxes; 5) ground/land lease costs; 6) premiums of insurance carried on or with respect to the Project; 7) costs of utilities for the Project; and 8) Supportive Services (where permitted to be paid by the Project’s operations under this Plan) and excluding: replacement and operating reserves not to exceed the amount required by the primary debt lender and syndicator; interest payments and accruals on any and all loans (including but not limited to construction, permanent, voluntary and partner/member loans), depreciation and amortization costs, deferred developer fees, and reasonable asset management fees to the investor.
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Direct Operating Expense. Means any direct out-of-pocket Operating Expense incurred by the Servicer on behalf of the Issuer in connection with the servicing of the Equipment allocated to a Certificate pledged under the Indenture and the related Collateral as such servicing responsibilities are set forth in the Servicing Agreement; provided that any costs or fees incurred in connection with a Major Repair of an item of Equipment shall not be deemed a Direct Operating Expense.
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Examples of Direct Operating Expense in a sentence

  • If said payments exceed the actual Direct Operating Expense, Landlord shall refund the amount of the overpayments to Tenant in cash within ten (10) days after Landlord sends such statement.

  • All insurance premiums, including any premiums paid to Affiliates of Manager, payable under such policies in the event of any loss shall be included in Direct Operating Expense Payments on such basis.

  • In accordance with Medical Center’s policies, copies of which have been provided to JGKE, all documented and incurred expenses for travel, lodging, and meals associated with training course attendance shall be a JGKE Direct Operating Expense as defined in this Agreement.

  • JGKE will work with Medical Center in selecting a Service Agreement which shall be entered into by and between JGKE and the service provider and shall be a JGKE Direct Operating Expense as defined in this Agreement; provided, however, such JGKE Direct Operating Expense shall be offset by any reduction in price offered by Elekta to JGKE by virtue of Elekta's non-compliance with its uptime guarantee as set forth in more detail in Section 12.6 hereof.

  • For the avoidance of doubt, any costs, fees or expenses incurred in connection with any return condition requirements under a Lease (other than care and maintenance in accordance with the Servicing Standard) or any other extraordinary requirements set forth in a Lease shall not be deemed a Direct Operating Expense.

  • Identification of Gross Lease Revenues and Direct Operating Expense; Transfer of Gross Lease Revenues..............................................74 8.16.

  • Thereafter, Tenant shall be responsible for paying its own such expenses directly, and the estimated monthly Direct Operating Expense Additional Rent payment paid by Tenant shall be appropriately adjusted downward to reflect the financial impact of Tenant paying such expenses of Tenant directly.

  • The cost of such insurance shall be a Direct Operating Expense payable from the revenue of the Unit.

  • Lessor, at its expense and as a Direct Operating Expense billable to the Unit in accordance with the Management Agreement, will keep the Building Area and Improvements in good safe and clean order and condition and will promptly make all necessary or appropriate repairs, replacements and renewals thereof, whether interior or exterior, structural or non-structural, ordinary or extraordinary, foreseen or unforeseen.

  • To the extent possible, all costs and expenses directly related to a particular Subsidiary, particular Class Assets and a particular Class Interest that are borne by the Company shall be identified and allocated as a Direct Operating Expense of such Class Assets.


More Definitions of Direct Operating Expense

Direct Operating Expense means all Operating Expenses other than the Operating Expenses associated with the City Cost Centers for City’s Department of Aviation administrative costs, the costs of City departments other than the Department of Aviation and other non-Department of Aviation administrative costs including but not limited to pensions, auditors, investment gains/losses and employee expenses. Exhibit E provides, for illustrative purposes only, City’s allocation of Operating Expenses to Direct Operating Expenses (those Operating Expenses shown in the Exhibit E as allocated to the “AGTS,” “Terminal” and “Airfield”) and City’s allocation of Operating Expenses to City Cost Centers.‌
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Related to Direct Operating Expense

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Approved Operating Expenses means for each Budget Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:

  • Controllable Operating Expenses means all Operating Expenses except property taxes and assessments, capital expenditures that are reasonably required, costs for repairs and maintenance (excluding preventative maintenance), utility charges, insurance charges, costs of services provided under a union contract, payments under covenants, conditions and restrictions or to an owners’ association and costs associated with repairs due to casualty, vandalism or other cause outside of Landlord’s reasonable control.