Net Operating definition

Net Operating. Income: Operating Income less Operating Expenses.

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Net Operating. Income shall mean Property revenues less Property expenses (including management fees, but excluding capital expenses).

Net Operating. Income shall mean Gross Cash Receipts less Operating Expenses.

Examples of Net Operating in a sentence

Such statements shall set forth the financial condition and the results of operations for the Property for such Fiscal Year, and shall include, but not be limited to, amounts representing annual Net Cash Flow, Net Operating Income, Gross Income from Operations and Operating Expenses.
Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.
If the General Partner shall so fail to pay, the General Partner and its Affiliates shall forthwith cease to be entitled to any fees hereunder (other than the Development Fee) and/or to the payment of any Net Operating Income or Sale or Refinancing Proceeds to which the General Partner may otherwise be entitled hereunder.
Subject to the rights of tenants to make alterations pursuant to the terms of their respective Leases, Borrower shall obtain Lender's prior written consent to any alterations to any Improvements, which consent shall not be unreasonably withheld or delayed except with respect to alterations that may have a material adverse effect on Borrower's financial condition, the value of the Property or the Net Operating Income.
Together with such financial statements, the Borrower shall deliver a report, certified by the chief financial officer or chief accounting officer of Borrower, in form and detail reasonably satisfactory to the Administrative Agent, setting forth the Net Operating Income for each Property for such fiscal year.

More Definitions of Net Operating

Net Operating. Profit shall mean Net Sales of the Product in the Territory minus: (i) Cost of Distribution, Safety Surveillance Cost and Cost of Manufacture; (ii) royalties payable to Third Parties; (iii) an amount equal to ** of Net Sales to be retained by Kos; and (iv) Shared Copromotion Expenses if not previously reimbursed under Section 6.7(c) (including expenses prior to first commercial sale).

Net Operating. Income shall mean, for any income producing operating properties, the difference between (a) any cash rentals, proceeds and other income received from such Property (but excluding security or other deposits, late fees, early lease termination or other penalties, or other income of a non- recurring nature) during the determination period, less (b) all cash costs and expenses (excluding interest expense and any expenditures that are capitalized in accordance with Generally Accepted Accounting Principles) incurred as a result of, or in connection with, or properly allocated to, the operation or leasing of such Property during the determination period. Net Operating Income shall be calculated on a consolidated basis in accordance with Generally Accepted Accounting Principles.

Net Operating. Revenues: For any period, Operating Revenues, less Operating Expenses.

Net Operating. Income shall mean the amount obtained by subtracting Operating Expenses from Operating Income.

Net Operating. Income: For any period, Operating Revenue for such period less Operating Expenses for such period. Non-Defaulting Lender: Each Lender other than a Defaulting Lender. Note: A promissory note of Borrower payable to the order of any Lender, in substantially the form of the attached Exhibit B-1, evidencing Indebtedness of Borrower to such Lender resulting from Advances from such Lender, and Notes means all of such promissory notes.

Net Operating. Income shall mean, as of any date of determination, the sum of the net operating income for each Collateral Pool Property determined in accordance with GAAP for the fiscal quarter of the Borrower then ending multiplied by four (4), minus a capital reserve requirement in an amount equal to three percent (3%) of the foregoing sum.

Net Operating. Income: for any period, the underwritten net cash flow of the Properties determined by Lender in its sole and absolute discretion in accordance with Lender's then current underwriting standards for loans of this type and the then current underwriting standards of the Rating Agencies. It is anticipated that such underwriting adjustments shall include, but not be limited to, capping occupancy at a maximum of 70% to 75%, assuming a minimum management fee equal to 5%, assuming minimum FF&E of 5%, assuming that the combination of franchise, management & marketing expenses equates to a minimum of 14% of total revenue, eliminating non-recurring income, adjusting occupancy and ADR to reflect any new competition and adjusting expenses for any known increases (for example, taxes and insurance).