Gross Rental Receipts means the aggregate amount of all gross receipts actually received by or on behalf of Owner, determined on a cash basis, from (a) tenant rentals and other sums collected pursuant to leases (excluding tenant security deposits returned to tenants) and other amounts collected for rental of the Property, (b) income from the operation of the Property, including but not limited to, internet access, laundry, and vending machines, if any, (c) proceeds from rental loss or business interruption insurance, (d) any sums and charges collected in connection with the termination of tenant leases or settlement of related claims and (e) application fees, cleaning fees, pet fees, administrative fees, and other similar miscellaneous income. Gross Rental Receipts shall not include the proceeds of (i) any sale, exchange, refinancing, condemnation, or other disposition of all or any part of the Property, (ii) any loans to Owner, whether or not secured by all or any part of the Property, (iii) any capital contributions made to Owner, (iv) any insurance proceeds (other than rental loss or business interruption insurance) maintained with regard to the Property, (v) security deposits received from any prior owner of the Property or directly from tenants (until applied to obligations that constitute Gross Rental Receipts) and any interest accrued thereon, (vi) interest income, (vii) advance rents (until such payments are to apply as rental income), (viii) abatements of taxes, awards arising out of takings by eminent domain, discounts and dividends on insurance policies and (ix) rental concessions not paid by third parties.
Gross Rental Receipts means value received or
Gross Rental Receipts as used herein is defined as all receipts of every kind and nature actually collected from the operation of the Property, determined on a cash basis, including without limitation, all fixed rents (including parking rents not excluded below), common area maintenance reimbursements, tax and insurance reimbursements, percentage rental payments, utility reimbursements, late fees, vending machine collections, service charges, rental interruption insurance, and a fifteen percent (15%) administrative charge for common area expenses (if such an allowable expense is collected from tenants pursuant to tenant leases), and all other forms of miscellaneous income actually collected in cash by the Owner Subsidiaries or by the Property Manager from tenants of the Properties, net forfeited security deposits, but excluding (i) any income from investment of cash including the interest on the Operating Account, (ii) security deposits, and any portion of forfeited security deposits allocable to compensation for loss or damage, (iii) payments for physical installations or finish-out work, (iv) payments in the nature of indemnification or compensation for loss, damage or liability sustained, including but not limited to insurance proceeds and condemnation awards, (v) all purchase discounts, rental and ad valorem tax refunds or rebates, (vi) any repair or other such expense reimbursement from individual tenants, (vii) any sums which, under normal accounting practice, are attributable to capital, (viii) executive suite expenses, if any, (e.g. personnel, equipment, etc.) paid by tenants and (ix) such other additional income the Company and the Property Manager mutually agree to eliminate.
Examples of Gross Rental Receipts in a sentence
Following Stabilization, within fifteen (15) days after the end of each calendar month, Manager shall submit to Owner a written statement, certified as correct by Manager, which shall set forth the (a) Gross Rental Receipts, and (ii) Owner’s Operating Costs, each for the preceding calendar month (“Monthly Statement”).
For each Accounting Period, not later than December 1st, the Manager shall prepare a proposed budget for the upcoming calendar year Accounting Period, which shall include the projected: (i) Gross Rental Receipts, (ii) Owner’s Operating Costs, and (iii) Working Capital Reserve.
Within thirty (30) days after the end of each Accounting Period, Manager shall furnish to Owner a written statement, certified by an independent certified public accountant, or, at the Owner’s election, by the Manager’s Chief Financial Officer, to be correct, showing total (i) Gross Rental Receipts, and (ii) Owner’s Operating Costs, each by month and a total for the Accounting Period (“Annual Statement,” and together with the Monthly Statement, the “Statement”).
Gross Rental Receipts from Occupancy of Rooms………………………………………………………………$ 2.
Within thirty (30) days after the end of each Accounting Period, Manager shall furnish to Owner a written statement, certified by the Manager's Chief Financial Officer, or at Owner’s election and expense an independent certified public accountant, to be correct, showing total (i) Gross Rental Receipts, (ii) Net Rental Receipts, and (iii) Owner’s Operating Costs, each by month and a total for the Accounting Period (“Annual Statement,” and together with the Monthly Statement, the “Statement”).
More Definitions of Gross Rental Receipts
Gross Rental Receipts means value received or promised as consideration to the owner of a motor vehicle for rental of the vehicle, but does not include:
Gross Rental Receipts means value received or promised as consideration to the owner
Gross Rental Receipts for such month in respect of any stand-alone, single-tenant net leased properties that are not part of a shopping center. For the avoidance of doubt, a separately platted, single-tenant, net leased building that is part of a shopping center shall be a Property subject to the four percent (4%) of the “Gross Rental Receipts” calculation. The term “Gross Rental Receipts” as used herein is defined as all receipts of every kind and nature actually collected from the operation of the Property, determined on a cash basis, including without limitation, all fixed rents (including parking rents not excluded below), common area maintenance reimbursements, tax and insurance reimbursements, percentage rental payments, utility reimbursements, late fees, vending machine collections, service charges, rental interruption insurance, and a fifteen percent (15%) administrative charge for common area expenses (if such an allowable expense is collected from tenants pursuant to tenant leases), and all other forms of miscellaneous income actually collected in cash by the Owner Subsidiaries or by the Property Manager from tenants of the Properties, net forfeited security deposits, but excluding (i) any income from investment of cash including the interest on the Operating Account, (ii) security deposits, and any portion of forfeited security deposits allocable to compensation for loss or damage, (iii) payments for physical installations or finish-out work, (iv) payments in the nature of indemnification or compensation for loss, damage or liability sustained, including but not limited to insurance proceeds and condemnation awards, (v) all purchase discounts, rental and ad valorem tax refunds or rebates, (vi) any repair or other such expense reimbursement from individual tenants, (vii) any sums which, under normal accounting practice, are attributable to capital, (viii) executive suite expenses, if any, (e.g. personnel, equipment, etc.) paid by tenants and (ix) such other additional income the Company and the Property Manager mutually agree to eliminate.
Gross Rental Receipts means the aggregate amount of all gross receipts actually received by or on behalf of Owner, determined on a cash basis, from (a) tenant rentals and other sums collected pursuant to leases (excluding tenant security deposits returned to tenants) and other amounts collected for rental of the property, (b) income from the operation of the property, including but not limited to, internet access, cleaning, laundry, and vending machines, if any, (c) proceeds from rental loss or business interruption insurance, (d) any sums and charges collected in connection with the termination of tenant leases or settlement of related claims and (e) application fees, cleaning fees, pet fees, administrative fees, and other similar miscellaneous income. Gross Rental Receipts shall not include the proceeds of (i) any sale, exchange, refinancing, condemnation, or other disposition of all or any part of the property, (ii) any loans to Owner, whether or not secured by all or any part of the property, (iii) any capital contributions made to Owner, (iv) any insurance proceeds (other than rental loss or business interruption insurance) maintained with regard to the property, (v) security deposits received from any prior owner of the property or directly from tenants (until applied to obligations that constitute Gross Rental Receipts) and any interest accrued thereon, (vi) interest income, (vii) advance rents (until such payments are to apply as rental income), (viii) abatements of taxes, awards arising out of takings by eminent domain, discounts and dividends on insurance policies and (ix) rental concessions not paid by third parties.F-10
Gross Rental Receipts means the gross receipts actually received by or on behalf of Owner, determined on an accrual basis, from short term rentals but excluding those sums collected pursuant to the short term rental such as occupancy taxes, cleaning fees, pet fees, and pool heating fees.
Gross Rental Receipts means value received or promised as consideration to the owner of a motor vehicle and any rental facilitator for [rental of the vehicle , but] a rental agreement, including any fee, service, or other charge or amount required to be paid by the renter as a condition for the rental agreement. The term shall not include:
Gross Rental Receipts includes all gross receipts (but not sums attributable to capital, under normal accounting practice) derived from the operation of the REO Properties, including, without limitation, rent, percentage rent, late fees, reimbursements of recoverable operating expenses, separate charges for Additional Services to lessees pursuant to Section 3.02(i) above, and other money received from lessees. Gross Rental Receipts excludes (a) payments made to cancel or surrender a lease, or (b) application of security deposit upon default, repair of damage, or application of security deposit to a lease cancellation fee and amortized tenant improvements. Gross Rental Receipts also shall not include settlements, maintenance costs, rent tax and sales tax paid by Owner, or condemnation proceeds, tax abatements or security or other deposits.