Gross Operating Profit definition

Gross Operating Profit. For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

Gross Operating Profit means the actual gross operating profit of the Premises determined generally in accordance with the Uniform System of Accounts, consistently applied and consistent with the determination thereof in the Annual Operating Budget.

Gross Operating Profit means the amount, if any, by which Adjusted Gross Revenues for any calendar year exceed operating costs for such calendar year.

Examples of Gross Operating Profit in a sentence

• If two months within any given quarter are below the Minimum Performance Threshold, the Owner may provide written notice of this default, and the Operator shall cure said default by the next measurement period, by performing within 7% of the budgeted Gross Operating Profit.

• The Operator shall perform, at all times, within 7% of its budgeted Gross Operating Profit, measurable each quarter (the “Minimum Performance Threshold”).

• Manager will receive a performance incentive fee equal to 35% of the difference between the actual Gross Operating Profit for such period minus the Gross Operating Profit approved in the annual operating budget.

• Manager shall submit monthly, pursuant to Section 15.02, an interim accounting to Lessee showing Gross Revenues, Deductions, House Profit, Gross Operating Profit and Net Operating Income before Debt Service.

• Notwithstanding the foregoing termination right, if Operator does not meet the Minimum Performance Threshold because of an event of Force Majeure and the Operator is performing above 100% RGI or showing positive RGI Growth for the measurements period, a Gross Operating Profit below the Minimum Performance Threshold is allowable if the Gross Operating Profit budget variance is less than 65% of the Total Revenue budget variance.

More Definitions of Gross Operating Profit

Gross Operating Profit means the amount, if any, by which Total Revenues exceed Operating Expenses.

Gross Operating Profit means Gross Revenues less Operating Expenses.

Gross Operating Profit means the excess, if any, of Gross Revenue over Operating Expenses.

Gross Operating Profit means the income before non-operating income and expense of the Premises determined in accordance with the Uniform System of Accounts plus rental income received from subleases relating to the Premises (e.g., restaurant and roof top leases) and consistent with the format set forth in Exhibit D.

Gross Operating Profit means net revenues less operating expenses, as reflected on the casino licensee's or applicant's Division Statement of Income.

Gross Operating Profit. For each Development, a sum equal to Revenues minus all expenses from operations (excluding depreciation, amortization, management fees, central reservation fees, real, and personal property taxes, leasehold rent paid, property insurance, replacement reserves, Development Fees and debt service) for a Fiscal Year. However, expenses that are directly related to revenues that are excluded from the definition of "Revenues" below (e.g., expenses directly related to food and beverage sales) will also be excluded from the calculation of Gross Operating Profit.

Gross Operating Profit or "GOP" shall mean for any period of time, the amount by which Gross Operating Revenue properly attributable to such period exceeds Operating Expenses for the same period.