Total Net Operating Income means for the Consolidated Group and all Investment Affiliates for any period, as determined in accordance with GAAP, an amount equal to (i) the aggregate rental income and other revenues from the operation of all real estate assets, including from straight-lined rent and amortization of above or below market leases minus (ii) all expenses and other charges incurred in connection with the operation of such real estate assets (including, without limitation, real estate taxes, management fees, provisions for doubtful accounts and rent under ground leases); but, for the avoidance of doubt, excluding the payment of or provision for debt service charges, income taxes, capital expenses, and depreciation, amortization, and other non-cash expenses.
Examples of Total Net Operating Income in a sentence
Total Net Operating Income minus the aggregate Capital Expenditure Reserve for each Operating Property to be less than 1.5 times Fixed Charges, all based on the most recent six (6) months for which the Borrower has reported financial results pursuant to Section 5.01, annualized.
Adjusted Total NOI means, for any period, an amount equal to (a) Total Net Operating Income, minus (b) the Capital Expenditure Reserve as of the last day of such period.
Total Net Operating Income as of such fiscal quarter end of the Borrower attributable to all Unencumbered Assets is $_______________ and the portion of the Consolidated Interest Expense for such fiscal quarter in respect of Unsecured Indebtedness is $______________.
Total Net Operating Income for the seven months ending January 31, 2017 increased $292,200 compared to net operating income from the seven months ended January 31, 2016.