Borrowing Base Net Operating Income definition

Borrowing Base Net Operating Income means an amount which is the difference between (x) Borrowing Base Operating Revenues and (y) Borrowing Base Operating Expenses.
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Borrowing Base Net Operating Income means, for any Measuring Period, the sum of (a) aggregate Net Operating Income for the Borrowing Base Properties for such Measuring Period and (b) in the case of any Borrowing Base Property that was owned as of the last day of such Measuring Period by a Subsidiary Guarantor, but not so owned for the full Measuring Period, the additional amount of Net Operating Income that would have been earned if such Borrowing Base Property had been so owned for the full Measuring Period.
Sample 1
Borrowing Base Net Operating Income means, with respect to any fiscal period of the Borrower, the sum of (a) the net income (or loss) before extraordinary items derived from the Borrowing Base Properties for such fiscal period, as determined in accordance with GAAP and reported on the financial statements for such fiscal period delivered pursuant to Section 5.01 hereof (and, in the case of any Borrowing Base Property which has not been owned by the Borrower or the applicable Borrowing Base Subsidiary for all of such fiscal period, the financial statements for such portion of such fiscal period preceding the Borrower's or such Borrowing Base Subsidiary's ownership of such Borrowing Base Property delivered pursuant to clause (o) of the definition of "Borrowing Base Property" herein), plus (b) to the extent deducted in the determination of net income (or loss) for such Borrowing Base Properties for that fiscal period, (i) interest expense, (ii) Federal, state and local income taxes, (iii) depreciation and (iv) amortization, and minus (c) the FF&E Reserve Amount (calculated with respect to the Borrowing Base Properties only); provided, however, that in case of any Borrowing Base Property whose contribution to the total Borrowing Base is limited pursuant to the second proviso in the definition of "Borrowing Base" hereof, the amount of Borrowing Base Net Operating Income attributable to such Borrowing Base Property shall be limited by an amount proportional to the limitation set forth therein. For example, if pursuant to the second proviso in the definition of "Borrowing Base" the amount contributed to the Borrowing Base by a particular Borrowing Base Property is reduced from $1,000,000 to $900,000 and the Borrowing Base Net Operating Income for such Borrowing Base Property is $100,000, then the Borrowing Base Net Operating Income for such Borrowing Base Property shall be reduced by 10% ($900,000 / $1,000,000 = .90 = 90%) from $100,000 to $90,000 ($100,000 x .90 = $90,000).
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Examples of Borrowing Base Net Operating Income in a sentence

  • The expression “EM industry” refers to the manufacture of the RE or completed goods (e.g. boiler, turbines, PV modules, etc.), RE production support industries (e.g., technicians, consultants, engineers, building workers).

  • As of any date of ------------------------------------------ determination, the ratio of (i) Borrowing Base Net Operating Income as determined on such date divided by 4, to (ii) the Assumed Test Debt Service ------- -- applicable to the quarter upon which the Borrowing Base Net Operating income was based.

  • Between the Balance Sheet Date and the Initial Closing Date, there has been no material adverse change in the Borrowing Base Net Operating Income of the Borrowing Base Properties, taken as a whole.

  • The aggregate value of the Borrowing Base Properties, as determined by the Administrative Agent from time to time on a quarterly basis by dividing (a) the amount which is four times the Borrowing Base Net Operating Income allocable to such parcels for the one (1) fiscal quarter of the Borrowers most recently ended for which financial statements have been furnished (or are required to be furnished) to the Lenders pursuant to Section 7.4(c) by (b) nine and one-half percent (9.5%).


More Definitions of Borrowing Base Net Operating Income

Borrowing Base Net Operating Income means, as of any date of
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Borrowing Base Net Operating Income means, as of any date of determination, the Net Operating Income calculated with respect to the Real Estate Assets which are Borrowing Base Properties during the quarter upon which such Net Operating Income is based, PROVIDED that such Net Operating Income shall be adjusted on a pro forma basis to account for Real Estate Assets that were acquired by the Borrower and added to the Borrowing Base during such quarter by projecting the results generated by any such Real Estate Asset for the portion of the applicable quarter during which the Borrower owned (or ground-leased) such Real Estate Asset over the entire applicable quarter, and PROVIDED, FURTHER, that the Net Operating Income attributable to 000 Xxxx Xxxxxx shall not be included in Borrowing Base Net Operating Income for the purpose of determining Borrowing Base Value through March 31, 2003.
Sample 1
Borrowing Base Net Operating Income means the sum of (a) the Net Operating Income of each Existing Property for the trailing twelve month period for which it is to be determined; and (b) (i) for the first eight fiscal quarters of Borrower following the acquisition by Borrower of an Acquisition Property that has satisfied the conditions set forth in Section 2.18(e), the projected twelve-month annual Net Operating Income of such Acquisition Property based upon executed leases for such Property as set forth in the Projections, less Net Operating Income to be derived from Anchor Tenants and non-Anchor Tenants with remaining lease terms of less that seven (7) years and three (3) years, respectively, as set forth in the Projections for such Property, and (ii) thereafter, the Net Operating Income of such Acquisition Property for the trailing twelve month period for which it is to be determined; and (c) (i) for the first eight fiscal quarters of Borrower following the Completion of a Development Property that has satisfied the conditions of Section 2.18(d), the projected twelve-month annual Net Operating Income of such Development Property based upon executed leases for such Property, as set forth in the Projections for such Property, and (ii) thereafter, the Net Operating Income of such Development Property for the trailing twelve month period for which it is to be determined.
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Borrowing Base Net Operating Income means, for any period, the aggregate amount of Net Operating Income for each Borrowing Base Property during such period.
Sample 1

Related to Borrowing Base Net Operating Income

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:

  • Net Operating Cash Flow means the net cash flow to the Partnership resulting from ownership and operation of the Partnership Property, plus any other items of income received in cash by the Partnership less (i) all debts and expenses paid in the operation of the Partnership, (ii) any reserves which the General Partners deem reasonably necessary for the operation of the Partnership or for the satisfaction of obligations of the Partnership pursuant to Section 8.6, and (iii) all proceeds which are (A) received by the Partnership from the Transfer of Partnership Property, and (B) used to purchase or reserved, as determined by the General Partners in furtherance of their fiduciary duties hereunder and under the Act, for the purchase of other Partnership Property.

  • net non-operating income means the difference between:

  • Borrowing Base Amount means:

  • Consolidated Operating Income means, for any period, the operating income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Net Working Capital Target means $0.00.

  • Consolidated Operating Cash Flow means, with respect to the Company and its Subsidiaries on a consolidated basis, for any period, an amount equal to Consolidated Net Income for such period increased (without duplication) by the sum of:

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Property EBITDA means for any property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time, the net income (loss) derived from such property for such period, before deductions for (without duplication):

  • Annualized Operating Cash Flow means, for any fiscal quarter, the Operating Cash Flow for such fiscal quarter multiplied by four.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • Consolidated Capital Expenditures means, for any period, the aggregate of all expenditures of Company and its Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment” or similar items reflected in the consolidated statement of cash flows of Company and its Subsidiaries.

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.

  • Adjusted Operating Cash Flow means the net cash provided by operating activities of the Company as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K, adjusted to eliminate the effect on operating cash flows of net customer financing cash flows, as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K.

  • Consolidated Net Working Capital means (a) all current assets of the Company and its Restricted Subsidiaries except current assets from Oil and Gas Hedging Contracts, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except (i) current liabilities included in Indebtedness, (ii) current liabilities associated with asset retirement obligations relating to oil and gas properties and (iii) any current liabilities from Oil and Gas Hedging Contracts, in each case as set forth in the consolidated financial statements of the Company prepared in accordance with GAAP (excluding any adjustments made pursuant to FASB ASC 815).

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication: