Definition of Pool Net Operating Income

Pool Net Operating Income means, for any period, the sum of the Net Operating Income of each Mortgaged Property for such period, treating (a) Mortgaged Properties which are acquired by a Borrower during such period as owned by such Borrower for the entire period, and (b) Mortgaged Properties which are released during such period as having been released as of immediately prior to the beginning of such period.
Sample 1