PNOI definition

PNOI means Projected Net Operating Income, “PFOR” means the projected amount of rent that would be paid by tenants of the Commercial Property assuming (a) full occupancy of the Commercial Property and (b) an average rental rate equal to the lower of the actual current average rental rate for the Commercial Property or the current market rental rate for comparable properties, “VR” means the projected amount of PFOR that will not be received as a result of rent concessions with existing tenants and vacancies, assuming a vacancy rate equal to the greater of (x) the actual current vacancy rate for the Commercial Property, (y) the current market vacancy rate for comparable properties and (z) a hypothetical vacancy rate of 5%, and “▇▇▇” means the projected net operating expenses (i.e., total expenses minus interest expense) for the Commercial Property.
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PNOI means Projected Net Operating Income, “PFOR” means the projected amount of rent that would be paid by tenants of such related property assuming (a) full occupancy thereof and (b) an average rental rate equal to the lower of the actual current average rental rate for such property or the current market rental rate for comparable properties, “VR” means the projected amount of PFOR that will not be received as a result of vacancies, assuming a vacancy rate equal to the greater of the actual current vacancy rate for such property and the current market vacancy rate for comparable properties, and rent concessions agreed to with existing tenants, and “▇▇▇” means the projected net operating expenses (i.e., total expenses minus interest expense) for such related property.
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PNOI means Projected Net Operating Income, "PFOR" means the projected amount of rent that would be paid by tenants of such related property assuming (a) full occupancy thereof and (b) a rental rate equal to the lower of the actual current a rental rate for such property or the current market rental rate for comparable properties, "VR" means the projected amount of PFOR that will not be received as a result of vacancies, assuming a vacancy rate equal to the greater of the actual current vacancy rate for such property and the current market vacancy rate for comparable properties, and rent concessions agreed to with existing tenants, and "NOE" ▇▇ans the projected stabilized net operating expenses at full occupancy (i.e., total expenses minus interest expense and capital expenditures) for such related property.
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Examples of PNOI in a sentence

  • For purposes of determining the PNOI Bonus for 2005, the PNOI for the 2004 Base Year shall be $59,700,000.

  • For purposes of this calculation, PNOI shall be equal to the aggregate net property operating income of all of Employer’s properties based upon the property specific operating statements, exclusive of debt and other financing costs.

  • The “net PNOI Bonus” shall be equal to the gross PNOI Bonus determined as described below, minus the guaranteed bonus paid in accordance with paragraph (1) immediately above.

  • The “net PNOI Bonus” shall be equal to the gross PNOI Bonus for 2005 determined as described below, minus the guaranteed bonus paid in accordance with paragraph (1) above.

  • The “PNOI Bonus” shall be equal to the gross PNOI Bonus for 2007 determined as described below.

  • Provided Executive remains continuously employed with Employer through December 31, 2007, Executive shall receive a PNOI Bonus for 2007, payable within 45 days after year-end 2007.

  • The “PNOI Bonus” shall be equal to the gross PNOI Bonus determined as described below, minus, in the case of 2006, the sign-on bonus paid in 2006 in accordance with paragraph A(2) immediately above, and pro rated, in the case of 2007, for the period of actual employment during 2007.

  • In addition, Executive shall receive a net PNOI Bonus for 2005, payable within 45 days after year-end 2005.

  • With respect to each calendar year after 2007 in the Employment Term, Executive shall receive a PNOI Bonus equal to the gross PNOI Bonus determined as described below, payable within 45 days after the applicable year end.

  • For purposes of determining the PNOI Bonus for 2007, the PNOI for the 2006 Base Year shall be $52,914,000 (subject to reasonable adjustment by the Employer for changes in the portfolio of properties owned by Employer).