NOI Sample Clauses
The NOI (Notice of Intent) clause establishes the requirement for one party to formally notify the other of its intention to take a specific action, such as terminating the agreement, pursuing a claim, or initiating a process outlined in the contract. Typically, this clause specifies the method, timing, and content of the notice, ensuring that the receiving party is adequately informed and has time to respond or prepare. By mandating clear communication before significant actions are taken, the NOI clause helps prevent misunderstandings and disputes, ensuring transparency and fairness in contractual relationships.
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NOI. The operators of non-exempt construction activities shall apply to TDEC for coverage under the TNCGP as part of the Town’s plan review and approval process. Application procedures and required information for submittal of the NOI is contained in the TNCGP. An individual permit may be required as specified in section 7 of the TNCGP as well as an Aquatic Resource Alteration Permit (ARAP) as specified in section 10 of the TNCGP.
NOI. Not later than the fifteenth (15) Business Day after the end of each calendar month during an NOI Year, Sponsor shall deliver to Investor Manager a written notice (each, a “Monthly NOI Notice”) setting forth the NOI and NOI Target for such calendar month, the cumulative NOI during the portion of the applicable NOI Year ending at the end of such calendar month and the NOI Rolling Target for the portion of the applicable NOI Year ending at the end of such calendar month. If (i) the Company fails to generate NOI sufficient to achieve the NOI Target during a calendar month within an NOI Year, and (ii) the cumulative NOI during the portion of the applicable NOI Year ending at the end of such calendar month is less than the NOI Rolling Target for such portion of the applicable NOI Year, then the following shall occur:
NOI. It is expressly understood and agreed that Borrower shall use all available NOI from the Project for Project Costs within the Project Budget prior to the use of any Loan proceeds. Each request for an Advance by Borrower shall be deemed to be a certification from Borrower that NOI is insufficient to cover the Project Costs set forth in any requested Advance.
NOI. Administrative Agent shall have determined (based upon an appraisal approved by Administrative Agent) that the annual net operating income from the Project (as stabilized) will be at least $3,500,000.
NOI. The first Section 7.2(g) of the Original P&S (related to material adverse changes to Property condition and title matters) shall remain unchanged. The second Section 7.2(g) of the Original P&S (related to changes in net operating income) is hereby deleted in its entirety and the following is substituted in its place: Between the date hereof and the Closing Date, there shall have occurred no material adverse change in the Rent Roll attached hereto as Exhibit E, as evidenced by (i) any updated Rent Roll delivered to Buyer prior to the Closing, (ii) any estoppel certificates delivered to Buyer pursuant to the P&S, or (iii) any other documents or information delivered to Buyer pursuant to the P&S.
NOI. NOI for the acquired Project, as of the first day of a fiscal --- quarter for the immediately preceding fiscal quarter, shall be deemed to be the "In-Place NOI" from such acquired Project during such preceding fiscal quarter following Borrower's acquisition of such Project. For the purposes of this Section 10.12(a), In-Place NOI for any period shall mean the NOI for such period adjusted to include the portion of NOI from leases expiring during such period and leases commencing during such period, but, in either case, only to the extent allocable to such period.
NOI. Seller represents and warrants that, for the calendar year ending December 31, 1996 (i) the collective NOI of the Facilities, calculated in accordance with GAAP, before amortization, depreciation, interest, rent expense and income taxes, was $1,080,000; and (ii) the gross operating revenues for the Facilities were $2,518,000. As used herein, gross operating revenues shall be all revenues generated as a result of operation of the Facilities.
NOI. Seller represents and warrants that the net operating income of the Facility, calculated in accordance with GAAP, before amortization, depreciation, interest, rent expense and income taxes, was between $425,000 and $475,000 on a combined basis for the calendar year ending December 31, 1997.