Net Operating Deficit definition

Net Operating Deficit means the Eligible Operating Expenses of the Project minus farebox revenues, as determined by the method prescribed in the Contractor's approved Project Application and verified by an annual report certified by the chief financial officer of the Contractor or the Federal Single Audit of the Project.
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Net Operating Deficit means expenses incurred in operating the Project less fares, donations, and advertising revenue, as specified in FTA C 9040.1C.
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Net Operating Deficit means the Operating Expenses (before Depreciation and Amortisation) exceeding the Operating Income for any Financial Year;
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Examples of Net Operating Deficit in a sentence

  • For any fiscal year in which ▇▇▇▇▇ incurs a “Net Operating Deficit,” as defined below, ▇▇▇▇▇ shall provide written notice of such deficit (“Notice of Net Operating Deficit”) to its Members after completing its final financial audit for such fiscal year, but in no event shall ▇▇▇▇▇ issue any such Notice of Net Operating Deficit later than one hundred and eighty (180) days after the close of such fiscal year.

  • The amount of the Federal Share shall be estimated and determined by the method prescribed in the Contractor's approved annual Project Application and shall not exceed either the Unfunded Deficit or fifty percent (50%) of the Net Operating Deficit.

  • The State shall pay to the Contractor the Federal Share of the Eligible Operating Expenses of the Project as described in Schedule A and the approved Project Applications, subject to the terms and conditions of this Agreement, including verification of the Projects eligible Operating Expenses, operating and other revenues, Net Operating Deficit and Unfunded Deficit by the certified Annual Report and, if applicable, the Federal Single Audit required by Articles 13 and 14 of this Agreement.

  • Fail to have a Net Operating Deficit of less than $500,000 for the Fiscal Quarter ending September 30, 1999.

  • The Borrower will not permit Consolidated Net Deficit or Consolidated Net Operating Deficit for any fiscal quarter of the Borrower to be greater than five percent (5%) of Consolidated Tangible Net Worth as of the end of the fiscal quarter immediately preceding the relevant date of determination.

  • Upon receipt of a Notice of Net Operating Deficit, each Member and its representatives will be entitled to access and to receive copies of audited financial data and other certified supporting schedules and information substantiating the Net Operating Deficit.

  • The Borrower will not permit (a) Consolidated Net Operating Income for any two consecutive fiscal quarters to be less than $1.00 and (b) Consolidated Net Operating Deficit for any fiscal quarter to exceed ten percent (10%) of Consolidated Tangible Net Worth for such fiscal quarter.

  • Each Member shall contribute its pro rata share of the Net Operating Deficit to ▇▇▇▇▇ within one hundred and eighty (180) days of receipt of a Notice of Net Operating Deficit.

  • To help meet the needs of the Indigent residents in Nueces County, ▇▇▇▇▇ may request that the Members contribute a pro rata share of the Net Operating Deficit, with such “pro rata share” computed on the same basis as the “Specified Annual Percentage” as determined under Section 5.03 below for the fiscal year in which the Net Operating Deficit occurred.


More Definitions of Net Operating Deficit

Net Operating Deficit means and refer to the amount by which the ordinary and necessary expenses, including debt service, incurred in connection with the operation of the Improvements during the period prior to the Commencement Date exceeds the gross revenues actually received from the operation of the Improvements during such period (if any). Landlord shall be responsible for, and Costs shall not include, any increase in Net Operating Deficit due to a failure of Tenant to occupy the Premises as a result of Landlord’s failure to achieve Substantial Completion by the Target Date other than as a result of Tenant Delays and Force Majeure.
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Net Operating Deficit means Net Income (or Deficit), not including interest income and expense, extraordinary items and non-recurring charges or write-offs related to the EFTC Services Disposition and the closing of Borrower's Ft. Lauderdale, Florida manufacturing facility, determined in accordance with the accounting rules and assumptions employed in the attached income statement.
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Net Operating Deficit that shall read as follows:
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Related to Net Operating Deficit

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Accumulated Funding Deficiency as defined in Section 302 of ERISA.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.