Gross Expenses definition
Gross Expenses shall have the meaning set forth in the Mortgage Loan Agreement.
Gross Expenses means all expenditures of the Partnership, computed by the accrual method of accounting, whether incurred directly or indirectly, with respect to the Partnership’s operations and activities during the relevant period, including, but not limited to, costs of farming, insurance, taxes, rentals, general and administrative expense, and payments of principal and interest on indebtedness of the Partnership (other than principal payments on debt having a term of one year or less), but not including Capital Expenditures of the Partnership (or any depreciation or amortization with respect to such Capital Expenditures), depreciation or amortization with respect to Contributed Properties or Adjusted Properties, expenditures in connection with a Capital Transaction, the Farming Fee, Management Fee or Incentive Fee incurred during the relevant period, or any deemed expenditure of the Partnership as a result of an allocation of a portion of the initial value (or Adjusted Basis) of the Contributed Properties to inventory items. “Gross Expenses” also includes reserves established, in the Managing General Partner’s discretion, for any potential expenditures of the Partnership or in order to effect a leveling of Partnership distributions.
Gross Expenses means all ordinary costs and expenses related to the ownership, operation and use of the Properties during the twelve (12) month period immediately preceding the date of calculation, (A) including (I) assumed management fees with respect to Triple Net Leased Properties in an amount equal to the greater of (a) one percent (1%) of Gross Revenues with respect to such Triple Net Leased Properties during the period in question and (b) actual management fees payable under the Management Agreements with respect to such Triple Net Leased Properties during the period in question, (II) assumed management fees with respect to non-Triple Net Leased Properties (other than the RIDEA Facilities) in an amount equal to the greater of (a) four percent (4%) of Gross Revenues with respect to such non-Triple Net Leased Properties (other than the RIDEA Facilities) during the period in question and (b) actual management fees payable under the Management Agreements with respect to such Triple Net Leased Properties (other than the RIDEA Facilities) during the period in question and (III) actual management fees payable under the Management Agreements with respect to the RIDEA Facilities during the period in question and (B) excluding (i) depreciation, (ii) amortization, (iii) Debt Service, (iv) non-recurring, one-time or extraordinary expenses, (v) capital expenditures and (vi) capital reserves.
Examples of Gross Expenses in a sentence
In the event of an increase or a decrease in the interest of a Partner at any time after the Partnership's initial fiscal quarter other than at the end of a fiscal quarter of the Partnership, the share of the Gross Income and Gross Expenses and the Distributable Cash of the Partnership shall be allocated among the Persons whose shares are changed as determined by the General Partner pursuant to Code Section 706(d).
The formula for calculating Gross Profit from Farming Operations is: Gross Revenues from Farming Operations - Gross Expenses from Farming Operations -------------------------------------- = Gross Profit from Farming Operations Set forth below are the terms and definitions related to that calculation.
Within thirty (30) days after the end of each quarter of each calendar year of the Sublease, Sublessee shall deliver to Sublessor a statement sworn to by an officer of Sublessee setting forth the Gross Receipts and Gross Expenses for such quarter and the computation of the Net Profit, if any, for such quarter, together with any payment for any Net Profit which may be due hereunder.
In connection with any Terminating Capital Transaction properly treated as an installment sale under the Code, the portion of the Gross Income or Gross Expenses in each installment allocable to a given Partner shall, for federal income tax purposes, be in proportion to the Partner's total share of Gross Income or Gross Expenses from the Terminating Capital Transaction allocated to the Partner pursuant to the foregoing provisions of this section.
More Definitions of Gross Expenses
Gross Expenses means all the expenses incurred by the Landlord in connection with the Estate including, without limitation, the matters referred to in Schedule 7;
Gross Expenses means, for each fiscal year or other period, an amount equal to all of the Partnership's deductions provided in Code Section 62, as modified by Code Section 703, including, but not limited to, losses from the sale or disposition of an asset, with the following adjustments:
Gross Expenses means all the expenses incurred by the Landlord in connection with the Estate including, without limitation, the matters referred to in Schedule 7; -9-
Gross Expenses of Tenant with respect to the demised premises for any calendar year shall mean all rent, additional rent and other sums payable by Tenant to Owner under this Lease for such calendar year and shall not include any other expenditures paid or incurred by Tenant except customary brokerage fees and reasonable attorneys' fees actually paid by Tenant in connection with such subletting. Within thirty (30) days after the end of each quarter of each calendar year during the term of this lease, Tenant shall deliver to Owner a statement sworn to by an officer of Tenant setting forth the Gross Receipts and Gross Expenses for such quarter and the computation of the Net Profit, if any, for such quarter, together with any payment for any Net Profit which may be due pursuant to this Article. If any such statement contains an untrue statement or fails to include a complete statement of Gross Receipts, then Tenant shall be deemed to be in material default under this lease and Owner shall be entitled to terminate this lease in addition to exercising any other remedy available to it in law or in equity. For the period of two (2) years after any statement required by this Article has been sent by Tenant to Owner, Owner shall have the opportunity to examine the books of Tenant at Tenant's office, upon reasonable notice to Tenant and within reasonable hours, in order to determine the accuracy of such statement(s). The obligations of Tenant under this subarticle (E) shall survive the expiration or termination of this lease.
Gross Expenses of Sublessee with respect to the Subleased Premises for any calendar year shall mean all rent, additional rent, and other sums payable by Sublessee to Sublessor under the Sublease for such calendar year and shall not include any other expenditures paid or incurred by Sublessee except customary brokerage fees and reasonable attorneys' fees actually paid by Sublessee in connection with such subletting or assignment. Within thirty (30) days after the end of each quarter of each calendar year of the Sublease, Sublessee shall deliver to Sublessor a statement sworn to by an officer of Sublessee setting forth the Gross Receipts and Gross Expenses for such quarter and the computation of the Net Profit, if any, for such quarter, together with any payment for any Net Profit which may be due hereunder. In the event any such statement intentionally contains an untrue statement or intentionally fails to include a complete statement of Gross Receipts, Sublessee shall be deemed to be in 007326/13000/180.6 15 material default of this Sublease and Sublessor shall be entitled to terminate this Sublease in addition to exercising any other remedy available to it in law or in equity. For the period of two (2) years after any statement required by this Paragraph 21 has been sent by Sublessee to Sublessor, Sublessor shall have the opportunity to examine the books of Sublessee in order to determine the accuracy of such statements).
Gross Expenses means any and all expenses incurred or paid by Lessee arising from or derived from the operation, use and maintenance of the Stadium and any Event at the Stadium, whether paid or incurred by Lessee or by any entity wholly-owned by Lessee, including but not limited to, costs of goods; payroll (excluding any amount paid to, or incurred for, the salary of any owner of Lessee); taxes and fees; Lessee’s capital expenditures; service and gratuity charges; appearance or other fees to performers or professionals in all Baseball Games and Events; commissions to non-profit organizations or to third party vendors; fees to or for management companies, Minor League Baseball, Major League Baseball, or MLBAM; charitable donations and expenses contemplated by this Agreement.