Examples of Operating Income in a sentence
Prior to the Conversion Date, except for the Asset Management Fee, as defined in and payable pursuant to the Partnership Agreement, or as otherwise permitted by the Borrower Loan Documents or the Funding Loan Documents or the Subordinate Loan Documents, Borrower shall not make or permit any distributions or other payments of Net Operating Income to its partners, shareholders or members, as applicable, in each case, without the prior Written Consent of Funding Lender.
The purpose of this Agreement is to memorialize 703 Xxxxxxx’x commitment to paying the County a portion of the Operating Income (defined below), endeavoring to hire residents of North Richmond and the City of Richmond for a certain percentage of its workforce, making purchases from vendors in the North Richmond area to the extent feasible, and participating in the North Richmond Resource Center.
During the term of this Agreement and for three years following its expiration, the Director of Conservation and Development (“Director”) may request copies of 703 Xxxxxxx’x state and federal tax returns, cash-flow reports, financial statements, income statements, books, journals, and other financial records for the Facility (“Financial Records”), to enable the Director to independently verify the Facility’s Operating Income for any Operating Year.