Definition of Project Net Operating Income


Project Net Operating Income means, as of any date of determination, (a) all rent, common area maintenance reimbursements and other income from the Project scheduled to be paid during the period of twelve (12) full calendar months immediately following such date of determination including all Leases of the Project which have been executed on or prior to of such date of determination, but without giving effect to any agreed rent abatement periods or other agreed periods of rent reduction, minus (b) Project Operating Expenses minus (c) an imputed property management fee equal to three percent (3%) of all rent, reimbursements and other income included in clause (a) of this sentence.
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Examples of Project Net Operating Income in a sentence

Funding Lender shall determine the net operating income of the Project ("Net Operating Income").
Funding Lender shall determine the net operating income of the Project (''Net Operating Income").