Gross Income. All cash receipts derived from the operation of any Property, excluding (i) tenant security deposits unless and until such deposits are forfeited upon a tenant default and (ii) proceeds from insurance claims, condemnation proceedings, sales or refinancings.
Gross Income. The term "Gross Income" shall mean the annual ordinary income, as reasonably determined by Lender, then derived from Borrower's ownership and operation of the Mortgaged Property based upon the then actual trailing twelve (12) month period, giving consideration to ordinary and normal seasonal fluctuations in the market in which the Mortgaged Property is located, determined on a cash basis (except as specified herein), including the following: (i) rents by any lessees or tenants of the Mortgaged Property, provided however that total rents shall be determined utilizing a vacancy rate equal to the greater of (a) the actual vacancy, or (b) five percent (5%); (ii) proceeds received by or for the benefit of Borrower in connection with any rental loss or business interruption insurance with respect to the Mortgaged Property; (iii) any other fees or rents collected by, for or on behalf of Borrower with respect to the leasing and operation of the Mortgaged Property; (iv) any refunds of deposits for obtaining, using or maintaining utility services for all or any part of the Mortgaged Property; (v) interest, if any, earned by Borrower on security and other deposits of, and advance rentals paid by, any lessees or tenants of the Mortgaged Property; and (vi) the amount of any security and other type deposits and advance rentals relating to the Mortgaged Property which have been forfeited; provided, however, for purposes of determining Gross Income, (A) only rents from Approved Tenant Leases shall be taken into account and only to the extent such Approved Tenant Leases are fully executed, and (B) a vacancy rate equal to the greater of (i) the actual vacancy, or (ii) five percent (5%), shall be utilized. Notwithstanding anything included within the above definition of Gross Income, there shall be excluded from Gross Income the following: (i) any security or other deposits of lessees and tenants, unless and until the same actually are either applied to actual rentals owed or other charges or fees or forfeited; (ii) the proceeds of any financing or refinancing with respect to all or any part of the Mortgaged Property; (iii) the proceeds of any sale or other capital transaction (excluding leases for occupancy purposes only) of all or any part of the Mortgaged Property; (iv) any insurance or condemnation proceeds paid with respect to the Mortgaged Property, except for rental loss or business interruption insurance; (v) any insurance and condemnation proceeds applied in reducti...
Gross Income. In the event that any Partner has a deficit balance in its Capital Account as of the end of any Fiscal Year in excess of the sum of the amount such Partner is obligated to restore to the capital of the Partnership pursuant to any provision of this Agreement, or that such Partner is deemed to be obligated to restore pursuant to Regulations Section 1.704-1(b)(2)(ii)(c)(1) and (2), then the Partnership shall allocate to each such Partner items of income and gain for such Fiscal Year and subsequent Fiscal Years, if necessary, in an amount and manner sufficient to eliminate as quickly as possible such Capital Account deficit. The Partnership shall make an allocation pursuant to this Section 3.05 if and only to the extent that such Partner would have such an excess deficit balance in its Capital Account after the Partnership tentatively has made all other allocations pursuant to this Article III as if Section 3.04 and this Section 3.05 were not in this Agreement.
Gross Income. As used in the Loan Documents, the term “Gross Income” for each Calendar Period shall mean rentals, revenues and other cash forms of consideration, received by, or paid to or for the account of or for the benefit of, Borrower resulting from or attributable to the operation, leasing and occupancy of the Mortgaged Property, determined on a cash basis (except as specified herein), including, but not limited to, the following:
Gross Income. Subject to Section 4(b) hereof, each holder of a Series F Preference Unit shall be allocated gross income of the Partnership for each fiscal year in an amount equal to the excess, if any, of (i) the sum of the amounts distributed to such holder pursuant to Section 3 hereof with respect to such fiscal year and all prior fiscal years, over (ii) the amount of gross income allocated to such holder (or any predecessor in interest) pursuant to this Section 4(a) (as limited by Section 4(b) hereof) for all prior fiscal years. In the event the allocation of gross income pursuant to the preceding sentence with respect to any fiscal year is limited pursuant to Section 4(b) hereof, the amount available for allocation after application of Section 4(b) hereof shall be allocated among all holders of Series F Preference Units based on the relative amounts that would be allocated to each holder of Series F Preference Units if Section 4(b) hereof did not apply.
Gross Income. Before giving effect to the allocations set forth in Section 5.04, Gross Income for the Fiscal Year shall be specially allocated pro rata to the holders of Series A Mirror Preferred Units in an amount equal to the sum of (i) the amount of cash distributed to the holders of Series A Mirror Preferred Units pursuant to Section 11.03 during such Fiscal Year and (ii) the excess, if any, of the amount of cash distributed to the holders of Series A Mirror Preferred Units pursuant to Section 11.03 in all prior Fiscal Years over the amount of Gross Income allocated to the holders of Series A Mirror Preferred Units pursuant to this Section 5.05(d) in all prior Fiscal Years. Allocations to holders of Series A Mirror Preferred Units of Gross Income shall consist of a proportionate share of each Partnership item of Gross Income for such Fiscal Year in accordance with each holder’s pro rata percentage of the Series A Mirror Preferred Units.
Gross Income. Gross income shall be the total amount of all receipts in cash, credits, property, or interest of whatever kind received by the Licensee from all business done under the provisions of this License; but, it shall not include deferred credits, internal sales, sales tax receipts, not other taxes which may be required to be collected from guests, nor any part of the receipts which constitute repayment by guests of monies advanced on their behalf and for their convenience by the Licensee.
Gross Income. Gross Income" shall mean (a) any and all amounts received by LICENSEE or its sub licensees in connection with the services rendered and/or products sold from or by Plants which operate in the Territory.
Gross Income. The term “Gross Income” upon which the Percentage Rent is based shall include all income received by Tenant resulting from occupancy or use of the Premises in any manner, whether by Tenant, its subtenants or concessionaires, or parties operating through Tenant, its subtenants, or concessionaires, from whatever source derived, and whether for cash or credit. Gross Income shall include any manufacturer’s or importer’s excise tax included in the prices of the goods sold, even though the manufacturer or importer is also the retailer thereof, and it is immaterial whether the amount of such excise tax is stated as a separate charge. Gross Income, however, shall not include any of the following: (1) sales of United States postage; (2) any sales or excise taxes payable by Tenant to any governmental agency as a direct result of operations under this Lease, provided that the amount of such taxes is shown on the books and records elsewhere herein required to be maintained; (3) gratuities paid directly to on-site employees or individuals, and not paid to Tenant, provided the customer voluntarily determines the amount of said gratuity to be paid, or the customer is aware that the Tenant has added a pre-established gratuity to the charge for the services rendered and said additional amount is segregated and identified as a gratuity on the billing to the customer;
Gross Income. Prior to any allocation of Net Income or Net Loss for any fiscal year or other applicable period, items of gross income or gain of the Venture shall be allocated to the Partners as follows and in the following order of priority:
