Gross Operating Revenue means the aggregate gross operating revenues derived by the Borrowers and their Subsidiaries from their CATV Systems and from related communications businesses, including the sale of local advertising on CATV Systems, as determined in accordance with GAAP excluding, however, revenue or income derived by the Borrowers from any of the following sources: (i) from the sale of any asset of such CATV Systems not in the ordinary course of business, (ii) interest income, (iii) proceeds from the financing or refinancing of any Indebtedness of the Borrowers or any of their Subsidiaries and (iv) extraordinary gains in accordance with GAAP. None of the Borrowers nor any of their Subsidiaries shall be obligated to pay Management Fees to any Person, unless the Borrowers and such Person shall have executed and delivered to the Administrative Agent a Management Fee Subordination Agreement, and none of the Borrowers nor any of their Subsidiaries shall pay Management Fees to any Person except to the extent permitted under the respective Management Fee Subordination Agreement to which such Person is a party. None of the Borrowers nor any of their Subsidiaries shall employ or retain any executive management personnel (or pay any Person, other than the Manager, in respect of executive management personnel or matters, for the Borrowers or any of their Subsidiaries), it being the intention of the parties hereto that all executive management personnel required in connection with the business or operations of the Borrowers and their Subsidiaries shall be employees of the Manager (and that the Executive Compensation for such employees shall be covered by Management Fees payable hereunder). For purposes hereof, “executive management personnel” shall not include any individual (such as a system manager or a regional manager) who is employed solely in connection with the day-to-day operations of a CATV System or a Region.
Gross Operating Revenue means gross receipts from sales or service made or provided within this state during the regular course of the energy supplier’s business, but does not include either revenue derived from interutility sales within the state or revenue received by a petroleum supplier from the sale of fuels that are subject to the requirements of Article IX, section 3a, of the Oregon Constitution, or ORS 319.020 or 319.530.
Gross Operating Revenue means all monthly revenues actually received, on a cash basis, derived from the operations of each Property, including, without limitation:
Examples of Gross Operating Revenue in a sentence
The amount required to be deposited is calculated at 4% of the Monthly Gross Operating Revenue.
Owner shall pay (or shall cause the applicable Property Owner to pay) to Manager a monthly management fee (the “Management Fee”) equal to three percent (3%) of Gross Operating Revenue (as defined below) from each Property, monthly in arrears, prorated on a daily basis for any partial month as and when provided in Section 3.1 of this Agreement.
MDA and the Applicant will negotiate a mutually agreed upon Minimum Gross Operating Revenue target based on documented and supported market projections.
The Borrowers will not permit the aggregate amount of Management Fees accrued in respect of any fiscal year of the Borrowers to exceed 4.5% of the Gross Operating Revenue of the Borrowers and their Subsidiaries for such fiscal year.
House Bill 1074, Regular Session 2016 Rule 20.16 Minimum Gross Operating Revenue.
More Definitions of Gross Operating Revenue
Gross Operating Revenue shall have the meaning assigned to such term in Section 8.11.
Gross Operating Revenue means “Gross revenue” as that term is defined in Section 408.07(22) 407.002(12), F.S.
Gross Operating Revenue means Grantee's gross revenues from the sale and use of electricity and electric service within the corporate limits of the City, other than such revenues derived from business done with the government of the United States or any agency thereof, and after deducting therefrom any amounts paid by Grantee to the United States or to the State of Oregon as excise, occupation, or business taxes upon the sale or distribution of electric service in the City. At the election of Grantee, Grantee may also deduct uncollectible accounts of customers within the City.
Gross Operating Revenue or “GOR” means, with respect to any period, all revenue and income of any kind derived from the Operation of the Hotel (including any banquet and catering functions at the Hotel and any parking facilities at the Hotel) and properly attributable to such period (including rentals or other payments from licensees, lessees or concessionaires of retail space in the Hotel, but not gross receipts of such licensees, lessees or concessionaires), determined in accordance with GAAP; provided, however, with respect to gaming activities at the casino, GOR shall only include the net difference between gaming wins and gaming losses from guests, occupants or users of the casino less any revenue recorded on account of Promotional Allowances. GOR expressly excludes the following: (i) Taxes and utility and other charges collectible from patrons, guests or other users or occupants of Hotel, with respect to businesses conducted at the Hotel, or as a part of the sales price of any goods, services or displays at the Hotel, in each case to the extent such Taxes and charges are paid over to Governmental Authorities or other third Persons; (ii) receipts from the financing, sale or other disposition of capital assets and other items not in the ordinary course of the Hotel operations, and other extraordinary capital receipts, (iii) interest earned on bank accounts maintained in connection with the Hotel, and income derived from securities and other property acquired and held for investment; (iv) receipts in connection with any Condemnation; (v) proceeds of any insurance; (vi) rebates, discounts or credits for any goods or services provided by Manager (not including charge or credit card discounts, which shall not constitute a deduction from revenues in determining Gross Operating Revenue); (vii) tips, gratuities and other service charges paid to Hotel Personnel; (viii) recoveries in legal actions for tortious conduct or awards for punitive damages; (ix) receipts from vending and similar machines to the extent such receipts are paid over to the Persons owning such machines; (x) any security deposits refundable to Hotel tenants, subtenants, licensees or concessionaires and any payments by such tenants, subtenants, licensees or concessionaires for repairs and maintenance, except to the extent paid in reimbursement of costs included in Operating Costs; (xi) investment tax credits or other income tax benefits; (xii) amounts collected or received in connection with any signage placed on th...
Gross Operating Revenue means all income received by a title
Gross Operating Revenue or "GOR" shall mean all revenue and income of any kind derived directly or indirectly from operations at the Hotel, whether or not arranged by, for or on behalf of another Person or at another location, properly attributable to the period under consideration (including rentals or other payments from licensees, lessees, or concessionaires of retail space in the Hotel, but not gross receipts of such licensees, lessees, or concessionaires), determined in accordance with Generally Accepted Accounting Principles and the Uniform System of Accounts (except that in determining the amount deposited into the Lockbox Fund, such determination shall be made on a cash basis), except that the following shall not be included in determining Gross Operating Revenue: (a) receipts from awards or sales in connection with any Taking, from other transfers in lieu of and under the threat of any Taking, and other receipts in connection with any Taking, but only to the extent that such amounts are specifically identified as compensation for alterations or physical damage to the Hotel; and (b) interest earned on funds held in any Account.