Distributable Income definition

Distributable Income means, for any period, the net income of Centurion Apartment REIT, including income earned from its proportionate interest under the Rollover Agreement and its applicable consolidated Subsidiaries for such period set out in its consolidated financial statements as determined in accordance with GAAP, subject to certain adjustments, including: (a) adding back the following items: depreciation, amortization (except for amortization of deferred financing costs, future income tax expense, losses on dispositions of assets and amortization of any net discount on long-term debt assumed from vendors of properties at rates of interest less than fair value); and (b) deducting the following items: future income tax credits, interest on convertible debentures to the extent not already deducted in computing net income, gains on dispositions of assets and amortization of any net premium on long- term debt assumed from vendors of properties at rates of interest greater than fair value and any other adjustments determined by the Trustees in their discretion.
Distributable Income means the amount of cash available to be distributed by the REIT, calculated in the manner set forth under the headingComputation of Distributable Income for Distribution Purposes”.
Distributable Income has the meaning given in clause 24.6.

Examples of Distributable Income in a sentence

  • Distributable Income so calculated may reflect any other adjustments determined by the Trustees in their discretion and may be estimated whenever the actual amount has not been fully determined.

  • Such estimates will be adjusted as of the subsequent Distribution Date when the amount of Distributable Income has been finally determined.

  • In determining the Distributable Income the Responsible Entity does not have to take into account accounting standards or generally accepted accounting principles and practices which apply to trusts.

  • If the Responsible Entity distributes an amount of income of the Fund pursuant to this clause 9.2(d), the Distributable Income determined in accordance with clause 9.2(a), or calculated in accordance with clause 9.2(b), for the relevant Distribution Period must not include an amount referable to the income distributed in accordance with this clause 9.2(d) in that Distribution Period.

  • Monthly distributions will be based on the Trustees’ estimate of yearly Distributable Income, subject to adjustment from time to time throughout the year.


More Definitions of Distributable Income

Distributable Income means the amount of cash available to be distributed by the REIT, calculated as set out under "Distribution Policy".
Distributable Income means for any period, the net income of BTB, on a consolidated basis, as determined in accordance with IFRS, adjusted to take into account the following:
Distributable Income means all income earned by the contribution less reasonable charges and costs on investment transactions;