The cost of maintaining a business's property, includes insurance, property taxes, utilities and rent, but excludes income tax, depreciation and other financing expenses.

"Operating Expenses" In Context

"Operating expenses incurred by a Portfolio will continue to be paid by that Portfolio; however, BHIMI may, from time to time at its discretion, absorb some of a Portfolio's operating expenses. BHIMI presented this matter to the Portfolios' Independent ..."