![]() of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property. ![]() Operating Expenses means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to the operation of the Company or to Company business, including fees paid to the Advisor, 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 tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad loan reserves, (v) incentive fees paid in compliance with Section IV.F. 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. ![]() Debris removal 25% of the amount payable for the direct physical loss.Unintentional Errors & Omissions Įxpediting expense coverage may be written by inserting an applicable limit or the word Included in the Schedule of Coverages and Limits.Įquipment Breakdown: Limit Coverage $10,000,000 Combined Limit Equipment Breakdown included Property Damage included Business Income and extra expense included Expediting expense $500,000 Perishable foods $1,000,000 Ordinance of Law Coverage $100,000 Hazardous Substance limit $100,000 Data Restoration Coverage may be written within property form or as a separate policy.Įxpediting expense (including airfreight costs): Coverage under this Section is extended to include additional costs and expenses reasonably incurred by the Insured or on their behalf in connection with or incidental to safeguarding, preserving, temporary repair or expediting the commencement, carrying out or the completion of the repair, reinstatement or replacement of the interest hereunder as a consequence of an Occurrence covered by the terms of this Section.The Inspector General believes the recommendations remain appropriate but management is taking alternative actions.Leave Bank ProgramThe OIG conducted an inspection of the Agency’s leave bank program to determine whether the program is administered according to internal guidelines. Debris removal physical “loss” 25% of the amount payable for the direct.Per occurrence sublimits shall be at least as follows: ![]() Examples of Expediting expense in a sentenceĮxpediting expense does not include any costs incurred by the Insured for the temporary rental of equipment or temporary replacement of damaged equipment.
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