Project Income definition
Project Income means all Rent and all Other Income actually collected from Project operations during such month. "Rent" shall mean all amounts collected from Project tenants other than (i) security and other tenant deposits (other than as applied to pay rent or additional rent) and (ii) rents paid in advance by tenants, except the portion of any such advance payment applied to the rent due for the current month. "Other Income" shall mean all income from the Project which shall include operating expense reimbursements, fees, amounts paid for after hours or excess utilities and/or air conditioning service, amounts paid for special services rendered to tenants and vending machine rental charges, but shall not include Rent, amounts received by Owner or tenants in settlement of insurance claims, costs and fees recovered in litigation (except amounts allocable to past due rent or additional rent), refunds or returns of taxes paid, amounts paid under construction contracts, or proceeds from any sale or financing of the Project or any portion thereof.
Project Income means all income and receipts in any form received by Borrower from the operation of the Project, including rents, fees, deposits (other than tenant security deposits), any accrued interest disbursed from any reserve account required under this Agreement for a purpose other than that for which the reserve account was established, reimbursements and other charges paid to Borrower in connection with the Project. Interest accruing on any portion of the Funding Amount is not Project Income.
Project Income means all Rent and all Other Income actually collected from Project operations during such month, "Rent" shall mean all amounts collected from Project tenants other than (i) security and other tenant deposits (other than as applied to pay rent or additional rent) and (ii) rents paid in advance by tenants, except the portion of any such advance payment applied to the rent due for the current month, "Other Income" shall mean all income from the Project which shall include, without duplication, operating expense reimbursements, fees, amounts paid for after hours or excess utilities and/or air conditioning service, amounts paid for special services rendered to tenants and vending machine rental charges, but shall not include Rent, amounts received by Owner or tenants in settlement of insurance claims, costs and fees recovered in litigation (except amounts allocable to past due rent or additional rent), refunds or returns of taxes paid, amounts paid under construction contracts, or proceeds from any sale or financing of the Project or any portion thereof, "Net Cash Flow" shall mean (a) Owner's Project Income plus any amounts released from reserves that were originally funded from Project Income or Net Capital Proceeds realized by Owner during the Term, less (b) funds used to pay operating expenses associated with such portion of the Project (including Base Management Fees), funds used to pay or establish reserves, debt service payments (including principal and interest), funds used for capital repairs and replacements. Net Cash Flow shall not include capital contributions, partner loans, or Net Capital Proceeds, "Net Capital Proceeds" shall mean the net proceeds of a Capital Event realized by an Owner after (a) payment of all expenses payble to unaffiliated third parties associated with such Capital Event, (b) repayment of all indebtedness related to such portion of the Project involved with the Capital Event (including partner loans), and (c) an allowance is made for reasonable cash reserves, and "Capital Event" shall mean (a) a sale, transfer, exchange or other disposition of the Project or any portion thereof, (b) a financing or refinancing of indebtedness related to the Project, and (c) a condemnation, recovery of damage award and insurance proceeds (to the extent not used to improve or repair such portion of the Project).
Examples of Project Income in a sentence
If requested by Owner, Manager shall obtain, verify and pay from Project Income (as defined below) all bills for payments due under all mortgages, real estate, personal property and improvement assessments with respect to the Project and Owner's personal property located therein.
For the purposes of this Agreement, "Project Income" means all Rent and all Other Income actually collected from Project operations during such month.
Owner shall pay Manager an annual fee (payable on a monthly basis) equal to three percent (3.00%) of the Project Income.
The reimbursement amounts are calculated based on the following formula: Actual Expenditure minus (-) Total Revenue (Matching and Non-Matching Contributions and Project Income) equals (=) Total Reimbursement amount.
After the Stabilization Date, Owner shall pay Manager an annual fee (payable on a monthly basis) equal to three percent (3.00%) of the Project Income.
More Definitions of Project Income
Project Income means all income and receipts in any form received by the Tenant from the use or operation of the Premises, including, but not limited to, the following: (a) rents, fees, charges, and deposits (other than Resident’s refundable security deposits); (b) Section 8 or other rental subsidy payments received for the Residents and/or the Project; (c) price index adjustments and any other rental adjustments to leases or rental agreements; (d) proceeds from vending and laundry room machine; (e) the proceeds of business interruption or other insurance;
Project Income means the income derived or arising from Commercialisation of Products less any reasonable direct expenses properly incurred in deriving such income;
Project Income means all rents and other payments (including expense reimbursements, but not security deposits of tenants until, and then only to the extent, they are applied) payable to Borrower by tenants of the Improvements and/or other revenues received by Borrower from the Project, and (b) "Project Expenses" shall mean the costs and expenses payable by Borrower in connection with the ownership, operation, construction and maintenance of the Project, including, without limitation, real property taxes and assessments, insurance premiums, utility costs, and construction, maintenance, repair and operating costs and expenses, and all amounts then required to be paid under the Loan Documents (including interest). Before using or applying Project Income for any other purpose, Borrower shall first apply Project Income to pay Project Expenses that are then due and payable to the extent Project Income is sufficient therefor.
Project Income means gross income earned by the Grantee from grant-supported activities. Such earnings include, but are not limited to, income from service fees, sale of commodities, usage or rental fees, and royalties on patents and copyrights. In all cases, interest earned on advances of grant funds shall be remitted to the Department, except for interest earned on advances to instrumentalities of a state as provided by the federal Intergovernmental Cooperation Act of 1968, P. L. 90-577.
Project Income is, with respect to a particular year, all revenue, income, receipts, and other consideration actually received from operation of leasing the Improvements and Project. Project Income shall include, but not be limited to: all rents, fees and charges paid by tenants, Section 8 payments or other rental subsidy payments received for the dwelling units, deposits forfeited by tenants, all cancellation fees, price index adjustments and any other rental adjustments to leases or rental agreements and proceeds from vending and laundry room machines. Project Income shall not include tenants' security deposits (except to the extent any such deposits are retained by Lessee or forfeited by tenants to cover rent, damages, or any other charges), loan proceeds, capital contributions or similar advances.
Project Income means all revenue, income, receipts in any form, and other consideration received by Borrower from the operation of the Improvements, including without limitation: all rents, fees, and charges paid by Residential Occupants; Section 8 or other rental subsidy payments received for the dwelling units; supportive services funding; deposits forfeited by tenants; all cancellation fees, price index adjustments and any other rental adjustments to leases or rental agreements; proceeds from vending and laundry room machines; accrued interest disbursed from any reserve account required under this Agreement for a purpose other than that for which the reserve account was established; and the proceeds of business interruption or similar insurance. Project Income does not include tenants’ security deposits (except forfeited deposits), loan proceeds, capital contributions or similar advances, condemnation proceeds, insurance proceeds provided for the purpose of reconstructing all or part of the Project, or interest accruing on any portion of the Funding Amount.
Project Income means, in respect of Project Technology, all income (excluding CRDC Income and GST) arising from the Exploitation of the Project Technology.