Annualized NOI means the annualized net operating income for the Property, calculated as follows: the sum of (i) the net operating income for the Property for the month immediately prior to the month in which the Exercise Notice is delivered plus (ii) the net
Annualized NOI means, with respect to an Income Property or a -------------- Property subject to a Direct Financing Lease, as of any given date, the annual net operating income from the collection of rents and reimbursements according to leases in good standing, including income from property accounted for as Direct Financing Leases, after deducting all Operating Expenses, calculated by annualizing the income received and Operating Expenses incurred during the quarterly period ending most recently prior to such date, reported in accordance with GAAP. "ANNUALIZED NOI" for properties acquired by the owner thereof during -------------- any Measurement Period may be adjusted to reflect the actual performance of such property for the entire quarterly period irrespective of the date such property was acquired.
Annualized NOI means the annualized net operating income for the Property, calculated as follows: the sum of (i) the net operating income for the Property for the month immediately prior to the month in which the Exercise Notice is delivered plus (ii) the net operating income for the Property for the month in which the Exercise Notice is delivered plus (iii) the net operating income for the Property for the month immediately following the month in which the Exercise Notice is delivered, annualized. “Project Indebtedness” shall mean any outstanding financing or other arrangements entered into by or on behalf of the LLC which relate to the Property, including, without limitation, any mezzanine or bridge financing, or amendments or extensions thereof. The transfer of the LLC Interest as contemplated by this Agreement shall be subject to any Project Indebtedness.
Examples of Annualized NOI in a sentence
Total and subtotals calculated based on current quarter Annualized NOI.
Forecasted Annualized NOI is computed by annualizing the current quarter NOI for the Trust’s income properties that are not encumbered by secured debt, and is a forward-looking non-GAAP measure.
Annualized NOI is calculated by multiplying results for the most recent quarter by four.
At any Measurement Date, Total Annualized NOI ------------------ shall not be less than 13% of Total Interest Bearing Debt.
In these cases, the first set of numbers relate to the retail asset and the second set relate to the multi-family asset.(c) Hotel property percentage occupied and is the average for Q1 2020.(d) Annualized NOI for these properties are based on a trailing 12-month calculation due to seasonality of the respective businesses.(e) The Las Vegas Ballpark presentation is inclusive of the results from both the stadium operations and those of our wholly-owned team, the Las Vegas Aviators.
More Definitions of Annualized NOI
Annualized NOI means the projected annualized net operating income of a property determined as of the applicable Calculation Date on an accrual basis by calculating the excess of:
Annualized NOI means an annualized number based on the NOI for the trailing six (6) month period ending on the last day of the month prior to the date of receipt by the Buyer of an Exercise Notice.
Annualized NOI means (a) for each Real Property or Excluded Property owned by the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) for 12 months or more or any lease under which the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) has been the landlord for such period, Net Operating Income for such Real Property, Excluded Property or lease (as applicable) for the immediately preceding 12 month period; (b) for each Real Property or Excluded Property owned by the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) for a period of less than 12 months or any lease under which the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) has been the landlord for a period of less than 12 months, Net Operating Income for such Real Property, Excluded Property or lease (as applicable) calculated by annualizing Net Operating Income for such Real Property, Excluded Property or lease since the date of acquisition and adjusting (through appropriate pro-rating, removal, accruals or other correction) for all annual or one-time lump sum payments or expenses with respect to such Real Property, Excluded Property or lease or for any extraordinary income or expense items with respect to such Real Property, Excluded Property or lease.
Annualized NOI means the NOI for the twelve (12) full calendar months immediately preceding the date in question.
Annualized NOI means, with respect to an Income Property or a -------------- Property subject to a Direct Financing Lease, as of any given date, the annual net operating income from the collection of rents and reimbursements according to leases in good standing, including income from property accounted for as Direct Financing Leases, after deducting all expenses incurred to operate the property, including, without limitation, an allocation of hypothetical management fees of three percent (3%) of rent, administration, insurance, repairs, maintenance, utilities, property taxes and a reasonable reserve for structural replacements and repairs, but exclusive of any debt service payments under any indebtedness secured by the subject property, if any, calculated by annualizing the income received and expenses incurred during the quarterly period ending most recently prior to such date, reported in accordance with GAAP. "Annualized NOI" for properties acquired by the owner -------------- thereof during any Measurement Period may be adjusted to reflect the actual performance of such property for the entire quarterly period irrespective of the date such property was acquired.
Annualized NOI means the net operating income for the Option Property for the three months immediately prior to the month in which the Exercise Notice is delivered multiplied by 4. Net operating income shall mean net income for the Option Property plus interest expense, loan procurement amortization expense (if applicable), depreciation, management fees to related parties/general and administrative (if applicable)(and, in each case, otherwise in a manner consistent with the manner in which net operating income was determined for purposes of the disclosure in the prospectus for USI’s initial public offering). “FMV” for purposes of this Section 3.1 shall mean the price at which a willing buyer would buy, and a willing seller would sell, such Option Property in an arms-length transaction assuming such Option Property is sold in an orderly disposition on the terms (other than purchase price) set out in this Agreement and each of the buyer and seller are aware of, and take into account, all relevant factors which exist at the time. In the Exercise Notice, USI shall designate an appraiser (the “First Appraiser”) to determine FMV for such Option Property. Optionor then shall have 10 days after receiving such notice to designate a second appraiser (the “Second Appraiser”) by written notice to USI. If Optionor fails to timely designate the Second Appraiser, FMV shall be determined by the First Appraiser. The First Appraiser and the Second Appraiser each shall separately determine FMV in accordance with this Section 3.1(a) and shall provide a detailed written valuation report to each of Optionor and USI within 20 days after the last day for designating the Second Appraiser. The designation of the First Appraiser shall be approved by a majority of the members of the Board of Trustees of the REIT, which majority must include a majority of “independent” trustees, as defined in the REIT’s Bylaws. If only one appraiser timely submits a proper valuation report, its FMV determination shall be final, binding and conclusive for purposes of this Agreement. If both appraisers timely submit proper valuation reports, and their FMV determinations vary by 10% or less, FMV shall be equal to the average of the two FMV determinations. If both appraisers timely submit proper valuation reports, and their FMV determinations vary by more than 10%, the two appraisers shall promptly appoint a third appraiser (the “Third Appraiser”), which shall independently determine FMV in accordance with Section 3.1(a...
Annualized NOI means, with respect to any Covered Eligible Bond, as of the date of calculation, the annualized Net Operating Income generated by the Property securing such Covered Eligible Bond, based upon the actual Net Operating Income generated by the subject Property for the previous three (3) consecutive calendar months.