Tennessee Expense Limitation Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9176
• Format: Word; Rich Text

Description

Expense Limitation Agreement between Garnder Lewis Investment Trust and Garnder Lewis Aset Management, Inc. dated February 28, 1999. 4 pages Tennessee Expense Limitation Agreement, also known as Tennessee ELA, is a legal document that establishes a cap or limit on the amount of expenses that can be incurred by certain parties involved in a specific transaction, contract, or agreement in the state of Tennessee. This agreement ensures that the expenses remain within a predetermined monetary threshold, promoting fiscal responsibility and preventing excessive or unauthorized spending. The Tennessee Expense Limitation Agreement is commonly used in various business and financial transactions, including government contracts, public-private partnerships, construction projects, and procurement agreements. It is designed to protect both parties involved in the agreement by clearly outlining the parameters for allowable expenses and ensuring that the designated spending limit is not exceeded. There are different types of Tennessee Expense Limitation Agreements, each tailored to specific situations: 1. Government Contracts Expense Limitation Agreement: This type of ELA is commonly used in contracts between the state government of Tennessee and private entities. It typically establishes the maximum amount that the government will reimburse the contractor for project-related expenses. 2. Public-Private Partnership Expense Limitation Agreement: This ELA is utilized in agreements between the government and private entities to develop and maintain infrastructure projects in Tennessee. It outlines the maximum amount of expenses that can be incurred by each party and how they will be shared. 3. Construction Expense Limitation Agreement: This type of agreement is often used in construction projects, setting a limit on the expenses that can be charged by contractors, subcontractors, and suppliers, ensuring the project remains within budget. 4. Procurement Expense Limitation Agreement: This ELA is applicable when a Tennessee government agency or entity seeks to limit the expenses related to the procurement of goods or services. It establishes spending limits, processes for approvals, and provides guidelines to prevent overspending. In conclusion, the Tennessee Expense Limitation Agreement is a crucial legal document that establishes spending limits and ensures responsible financial management in various business and government-related transactions. It safeguards the interests of all parties involved and helps maintain fiscal discipline.

Tennessee Expense Limitation Agreement, also known as Tennessee ELA, is a legal document that establishes a cap or limit on the amount of expenses that can be incurred by certain parties involved in a specific transaction, contract, or agreement in the state of Tennessee. This agreement ensures that the expenses remain within a predetermined monetary threshold, promoting fiscal responsibility and preventing excessive or unauthorized spending. The Tennessee Expense Limitation Agreement is commonly used in various business and financial transactions, including government contracts, public-private partnerships, construction projects, and procurement agreements. It is designed to protect both parties involved in the agreement by clearly outlining the parameters for allowable expenses and ensuring that the designated spending limit is not exceeded. There are different types of Tennessee Expense Limitation Agreements, each tailored to specific situations: 1. Government Contracts Expense Limitation Agreement: This type of ELA is commonly used in contracts between the state government of Tennessee and private entities. It typically establishes the maximum amount that the government will reimburse the contractor for project-related expenses. 2. Public-Private Partnership Expense Limitation Agreement: This ELA is utilized in agreements between the government and private entities to develop and maintain infrastructure projects in Tennessee. It outlines the maximum amount of expenses that can be incurred by each party and how they will be shared. 3. Construction Expense Limitation Agreement: This type of agreement is often used in construction projects, setting a limit on the expenses that can be charged by contractors, subcontractors, and suppliers, ensuring the project remains within budget. 4. Procurement Expense Limitation Agreement: This ELA is applicable when a Tennessee government agency or entity seeks to limit the expenses related to the procurement of goods or services. It establishes spending limits, processes for approvals, and provides guidelines to prevent overspending. In conclusion, the Tennessee Expense Limitation Agreement is a crucial legal document that establishes spending limits and ensures responsible financial management in various business and government-related transactions. It safeguards the interests of all parties involved and helps maintain fiscal discipline.