Net Operating Income. With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.
Net Operating Income means the amount obtained by subtracting Operating Expenses from Gross Income from Operations.
Net Operating Income means, for any period, the amount obtained by subtracting Operating Expenses for such period from Gross Income from Operations for such period.
Examples of Net Operating Income in a sentence
Prior to the Conversion Date, except for the Asset Management Fee, as defined in and payable pursuant to the Partnership Agreement, or as otherwise permitted by the Borrower Loan Documents or the Funding Loan Documents or the Subordinate Loan Documents, Borrower shall not make or permit any distributions or other payments of Net Operating Income to its partners, shareholders or members, as applicable, in each case, without the prior Written Consent of Funding Lender.
More Definitions of Net Operating Income
Net Operating Income means, with respect to each Individual Property, for any period the excess, if any, of Operating Income for such period over Operating Expenses for such period.
Net Operating Income means, for any particular period of time, Gross Revenue for the relevant period, less Operating Expenses for the relevant period; provided, however, that if such amount is equal to or less than zero (0), Net Operating Income shall equal zero (0);
Net Operating Income means the excess, if any, of the Partnership’s gross income over its expenses (but not taking into account depreciation, amortization, or any other noncash expenses of the Partnership), calculated in accordance with the principles of Section 5.01(h) hereof.
Net Operating Income means, for any period, the amount by which Operating Revenues exceed Operating Expenses for such period.
Net Operating Income means the amount obtained by subtracting from Gross Income from Operations (i) Operating Expenses, and (ii) a vacancy allowance equal to the greater of (x) market vacancy (as reasonably determined by Lender), less actual vacancy, and (y) underwritten vacancy of 5%, less actual vacancy. Notwithstanding the foregoing, if actual vacancy exceeds market vacancy and underwritten vacancy, then there shall be no adjustment for a vacancy allowance.
Net Operating Income means the cash available for Distribution on an annual basis, when Cash Receipts exceed Cash Expenses.
Net Operating Income means: (i) the Gross Income, less (ii) the Expenses of the Project.