Property NOI definition

Property NOI means, with respect to any Property for any Rolling Period (without duplication), the aggregate amount of (i) Property Income for such period minus (ii) Property Expenses for such period. Pro forma adjustments shall be made for any Property acquired or sold during any period as if the acquisition or disposition occurred on the first day of the applicable period.

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Property NOI with respect to any Property, for any period, an amount equal to the excess, if any, of (a) Property Gross Revenues in respect of such Property for such period over (b) Property Operating Expenses in respect of such Property for such period.

Property NOI means, for any Retail Property for any period, (i) all Property Income for such period, minus (ii) all Property Expenses for such period.

Examples of Property NOI in a sentence

• As of any date of determination with respect to an Unencumbered Property, an amount equal to Adjusted Unencumbered Property NOI for such Unencumbered Property for the most recent two (2) complete fiscal quarters multiplied by two (2), with the product being divided by the Capitalization Rate.

• As of the last day of each Fiscal Quarter of the Parent, the Loan Parties shall not permit the ratio of Property NOI of Unencumbered Asset Pool Properties for such Fiscal Quarter to Unsecured Interest Expense for such Fiscal Quarter to be less than 1.75 to 1.00.

• As at the end of any fiscal quarter or other date of measurement, the Borrower shall not permit the aggregate Adjusted Unencumbered Property NOI to be less than two (2) times Consolidated Total Unsecured Interest Expense, based on the results of the most recent two (2) complete fiscal quarters.

• For purposes of this calculation, to the extent that the aggregate Adjusted Unencumbered Property NOI attributable to Unencumbered Properties subject to a Ground Lease exceeds 10% of the Adjusted Unencumbered Property NOI for all Unencumbered Properties, such excess shall be excluded.

• As at the end of any fiscal quarter or other date of measurement, the Borrowers shall not permit the aggregate Adjusted Unencumbered Property NOI for all Unencumbered Properties for the two (2) most recent, complete, consecutive fiscal quarters to be less than two (2) times Consolidated Assumed Amortizing Unsecured Debt Service Charges.

More Definitions of Property NOI

Property NOI means, with respect to any Real Property for any period of time, the aggregate amount of (i) Property Income for such period minus (ii) Property Expenses for such period. The Borrower’s Ownership Share of assets held by Unconsolidated Affiliates shall be included in the calculation of Property NOI consistent with the above described treatment for assets owned by AF REIT or a Subsidiary.

Property NOI means, for any Retail/Other Property for any period, (i) all Property Income for such period, minus (ii) all Property Expenses for such period.

Property NOI means, as of any date of determination and with respect to any Unencumbered Asset, the aggregate amount of (i) Property Income for the Rolling Period (without duplication) minus (ii) Property Expenses for the Rolling Period (without duplication).

Property NOI means, for any Real Property Asset not subject to a triple-net lease, the difference (if positive) between (i) the total rental revenue and other revenues from the operation of such Real Property Asset, as the case may be, for such period (excluding for all purposes other than the calculation Consolidated Total Asset Value, such revenues from Tenants which are subject to a then continuing Bankruptcy Event (except to the extent such Tenant has assumed the applicable lease), but including for all purposes any insurance proceeds received during such period and constituting business interruption proceeds or paid in respect of lost revenues or rental income with respect to such period), and (ii) all expenses incurred by the applicable Property Party or Subsidiary in connection with the operation and maintenance of such Real Property Asset, as the case may be, during such period (including, repairs, real estate and chattel taxes and bad debt expenses and deemed management fee equal to five percent (5%) of the aggregate revenues, but excluding all management fees actually paid) but before payment or provision for corporate overhead expenses, debt service charges, income taxes and depreciation, amortization and other non-cash expenses, all as determined in accordance with GAAP.

Property NOI means, with respect to any property for the four most recently ended Fiscal Quarters (without duplication) the aggregate amount of (i) Property Income for such period minus (ii) Property Expenses for such period.

Property NOI means, with respect to any Real Estate Asset for any period, the sum of (a) property rental and other income (after adjusting for straight-lining of rents and excluding the rents from tenants in default or bankruptcy) earned in the ordinary course and attributable to such Real Estate Asset accruing for such period, minus (b) the amount of all expenses incurred in connection with and directly attributable to the ownership and operation of such Real Estate Asset for such period, including, without limitation, Property Management Fees and amounts accrued for the payment of real estate taxes and insurance premiums, but excluding Interest Expense or other debt service charges and any non-cash charges such as depreciation or amortization of financing costs.

Property NOI means, with respect to any Real Property for any period (without duplication) the aggregate amount of (i) Property Income for such periodminus