Examples of Net Operating Income in a sentence
Creditors holding General7 Unsecured Claims will receive Pro Rata distributions of 30% of Net Operating Income generated8 by the Reorganized Debtor on a quarterly basis for five (5) years.
This Pro forma will be calculated using the following prescribed method: Potential Gross Income less Vacancy Loss equals Effective Gross Income, less Operating Expenses equals Net Operating Income, less Debt Service equals Cash Flow.
Annual operating expenses are projected to be approximately $2.4 million, resulting in a Net Operating Income (“NOI”) of $1.6 million in year one of stabilization, which supports a permanent mortgage of $26.5 million, with an amortizing debt service of 1.20x in the first year.
The Debt Coverage Ratio compares the property’s expected Net Operating Income (NOI) with its annual cost for debt servicing.
Creditors with Unsecured Claims will be paid from either or both additional14 loan proceeds or Net Operating Income (to the extent it does not cause the Debtor to default15 under its loan documents) generated by the Debtor post-confirmation.16 The only Secured Creditors in this case are the county taxing authorities and17 Creditors asserting that they hold a Claim secured by a perfected Construction Lien asserted18 under Oregon law or by judgment.