Owner's Return has the meaning specified in Subsection 3.1 c.;
Owner's Return means an annual cumulative preferential return to Owner of Two Hundred Forty Thousand Canadian Dollars (Cdn.$240,000) (prorated for any partial year);
Owner's Return means the effective after tax return under this Agreement that the Owner anticipated on the Commencement Date;
Examples of Owner's Return in a sentence
This would resultin a loss of useful information and a loss in comparability between entities.
The Operator, under the said Management Agreement, is hereby authorized and instructed to make any payment(s) due hereunder from "Owner's Return" directly to itself as Lender hereunder.
The Owner authorizes Operator to collect the installments of the loan in 3 above by way of priority from the Owners Return.
The project and this additional workstream are a strong strategic fit for the LCR Combined Authority, directly focused on tackling the Region’s productivity challenges, identified as a key future driver of growth in the Plan for Prosperity.
An additional one percent of the Adjusted Gross Revenue payable from Available Cash Flow after the Partnership has received an Owners Return on Investment equal to 15% per annum.
More Definitions of Owner's Return
Owner's Return means an amount equal to Seven Million Dollars ($7,000,000.00) for each Fiscal Year, prorated for any partial Fiscal Year.
Owner's Return has the meaning described in Section 6.01B.
Owner's Return shall have the meaning set forth in Section 5.1.
Owner's Return means the sum of (i) the amount of the Threshold (as defined in Schedule 3) and (ii) seventy-five percent (75%) of the Excess Cash Flow above or below the amount of the Threshold, provided however, if the Management Fees for any Fiscal Year are in excess of the Initial Cap (as defined in Schedule 3), as part of Owner’s Return, Owner shall be entitled to receive as part of Owner’s Return, an additional amount equal to ninety percent (90%) of the Excess Cash Flow remaining after the payment of the amount of the Initial Cap. Notwithstanding the foregoing, if during any Fiscal Year, the amount of Owner’s Return is less than the Minimum Return (as defined in Schedule 3), Select shall fund the difference between the amount of the Minimum Return and the amount of Owner’s Return for such Fiscal Year. Owner and Select hereby agree that the definitions set forth on Schedule 3 are derived from the Existing Agreement and shall be in effect only until the Guaranty Termination Date and for purposes of and in connection with this Section 5.1(a) only and it is the intention of the parties that this Section 5.1(a) provide for the same rights and obligations with respect to the management fees and consistent with the Existing Agreement and with past practice of Owner and the Existing Managers.
Owner's Return means, in respect of any Fiscal Year, an amount equal to 8% of Total Hotel Costs, less the Owner's Priority Payment payable to Owner for such Fiscal Year.
Owner's Return shall be applicable commencing on the first anniversary of the Commencement Date, shall apply to subsequent periods only, and shall mean and refer to a minimum of $500,000.00 per Calendar Year (which minimum amount shall be prorated for Fractional Years, and shall be subject to adjustment as more particularly set forth in this Section 1.28). The Owner's Return shall be distributed to Owner on a quarterly basis in installments within 30 business days of the end of each calendar quarter, or portion thereof, for which such payment is due. In the event that in any calendar quarter the amount of Net Operating Profit distributed to Owner pursuant to Section 3.3 of this Agreement is less than the amount necessary to bring the amount paid against the Owner's Return to a cumulative amount equal to at least twenty-five (25%) percent of the Owners Return for each calendar quarter that has elapsed within the subject Calendar Year, Operator shall pay any such deficiency to Owner out of Operator's separate funds not later than thirty (30) days after the last day of the calendar quarter. For example, assuming an Owner's Return of $500,000 and Net Operating Profit paid to Owner in the first calendar quarter of $150,000 and in the second calendar quarter of $90,000, Operator would be obligated to pay $10,000 against the Owner's Return from Operator's own funds within 30 days of the end of the second calendar quarter. Amounts of Net Operating Profit paid to Owner in excess of the amount required (as calculated on a year to date basis) shall be carried forward to subsequent calendar quarters within the same Calendar Year. Any overpayment by Operator that exists at the end of a Calendar Year shall be refunded promptly by Owner or credited to the next payment of Owner's Return. The Owner's Return shall be adjusted, commencing with the second Operating Year, by increases in the Index. In addition, the Owner's Return shall be adjusted downward, commencing in the second Operating Year in the event that fewer than 175 Keys have been enrolled in the Rental Program prior to the end of such year, such proration being based on the ratio between the number of Keys enrolled at the end of each month during such year and the benchmark of 175 Keys. In the event that 175 Keys are enrolled in the Rental Program at any point in time prior to the end of the second Operating Year, no downward adjustment of the Owner's Return shall be performed for any Operating Year after the second Operating Y...