Carrying Costs

Carrying Costs. Shall mean the actual out-of-pocket costs incurred by any Debtor, any Owner, any Pre-Petition Lender or Agent (or any of their respective successors or assigns) from the date of this Agreement through the date of a Qualifying Disposition to insure, maintain, protect and repair any of the Property, to discharge any adverse liens or claims upon any of the Property and to ensure that any of the Property complies with all applicable laws,... including, without limitation, any and all real estate taxes, insurance costs, reasonable maintenance and upkeep expenses for all or any part of the Property, environmental remediation expenses, property owners association dues and utilities (but specifically excluding any principal and interest payments made or owing by any Debtor under the Syndicated Loan Documents or any other loan secured by a lien on all of any part of the Property). View More