Adjusted Operating Expenses means Operating Expenses excluding Operator’s Fee, insurance premiums (with the exception of the insurance described in Section 12.02), discretionary employee bonuses (to the extent exclusion is approved by Lessee) and Property real estate and personal property taxes.
Adjusted Operating Expenses means Operating Expenses (i) to ----------------------------- account for all actual or required Operating Expenses as opposed to escrowed or estimated payments made pursuant to the Senior Loans or otherwise and (ii) such other adjustments to Operating Expenses to adjust for seasonal, extraordinary or non-customary expenses and costs and other abnormalities.
Adjusted Operating Expenses means Operating Expenses as reasonably adjusted by Holder (i) to account, as appropriate in Holder's sole reasonable discretion, for all actual or required Operating Expenses as opposed to escrowed or estimated payments and (ii) such other adjustments to Operating Expenses, in Holders sole reasonable discretion to adjust for seasonal, extraordinary or non-customary expenses and costs and other abnormalities.
Examples of Adjusted Operating Expenses in a sentence
Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Basic Adjusted Net Income per share, Diluted Adjusted Net Income per share and Adjusted Operating Expenses are not recognized measures under IFRS.
More Definitions of Adjusted Operating Expenses
Adjusted Operating Expenses means Operating Expenses as determined and adjusted by the Administrative Agent in accordance with its then current audit policies and procedures.
Adjusted Operating Expenses means Operating Expenses as determined and adjusted by Lender in accordance with its current audit policies and procedures.
Adjusted Operating Expenses is defined as: total operating expenses less depreciation and bad debt expense.
Adjusted Operating Expenses means the aggregate amount of all actual operating expenses of the Property paid by Borrower in the most recently ended six (6) month period for which Borrower has delivered financial statements to Administrative Agent, annualized, provided that the amount of management fees included in Adjusted Operating Expenses shall be equal to the greater of (x) actual management fees paid by Borrower with respect to such period or (y) 2.0% of the operating income received by Borrower during such period. Until either Gap, Inc. or one or more other tenants leasing 15,000 square feet or more have opened for business in the Improvements such that six (6) months of historical operating expenses are available, Borrower will be required to annualize the actual expenses for the available period and such calculation will be subject to adjustment in Administrative Agent's reasonable discretion. Adjusted Operating Expenses shall exclude from expenses payments of principal and interest under the Loan Documents and other expenses payable to Administrative Agent and Lenders pursuant to the Loan Documents, capital expenditures, Tenant Improvement Costs, leasing commissions and extraordinary items of expense.
Adjusted Operating Expenses means, for any period, an amount equal to (A) Professional Practice Cost Savings (as hereinafter defined), plus (B) Authorized Management Company Operating Costs, minus (C) Addbacks;
Adjusted Operating Expenses means, for the applicable period, the Operating Expenses incurred during such period using (x) management fees equal to the greater of (i) assumed management fees of three percent (3%) of Gross Revenue and (ii) actual management fees incurred during such period and (y) franchise fees equal to the greater of (i) assumed franchise fees of four percent (4%) of Gross Revenue and (ii) actual franchise fees incurred during such period.
Adjusted Operating Expenses means the Operating Expenses, adjusted by (i) any periodic or seasonal changes in Operating Expenses (including not yet incurred and re-leasing expenses) occurring outside of the Stabilization Period and (ii) the greater of (a) actual Operating Expenses; (b) an amount estimated by Bondowner Representative; or (c) an amount estimated in the appraisal, for the specific period.