Operating Deficits means, for any specified period, the greater of 0 or the following: (A) the interest payments, accruals and periodic charges and expenses on the Construction Loan for such period; plus (B) the aggregate Operating Expenses for such period of time; minus (c) Gross Operating Revenue for such period of time.
Operating Deficits means the amount by which the sum of the expenditures and costs incurred by the Company in the operation of the Project (including, without limitation, current debt service and deferred maintenance obligations (other than deferred maintenance obligations of a capital nature) in the year in which the cash expense corresponding to such deferred maintenance obligations is paid) exceeds the cash receipts generated from the ordinary day-to-day operations of the business of the Company from all sources available to the Company without deduction of depreciation, cost recovery, and other non-cash charges.
Operating Deficits. For any period, any shortfall in the Operating Revenues over the Operating Expenses.
Examples of Operating Deficits in a sentence
Use form HUD-92476a-M, Escrow Agreement for Operating Deficits, which requires a specified sum to be held for a specified number of months after closing in accordance with Program Obligations.
The details of this funding obligation are to be set forth in Lender’s Certificate Section 13, and in form HUD-92476a-M, Escrow Agreement for Operating Deficits.
See MAP Guide §7.14 (Calculating Operating Deficits) and use form HUD- 92476a-M.
Most of the new businesses expected under the proposed ordinance would be in existing buildings and would have no impact.
Escrow Agreement for Operating Deficits (HUD-92476B-ORCF) executed by Borrower and Lender, dated ______;] [J.
More Definitions of Operating Deficits
Operating Deficits means the excess of Approved Operating Expenses over Operating Income during any applicable period.
Operating Deficits means the amount by which the sum of:
Operating Deficits means any excess of Operating Expenses (as defined below) over Operating Income (as defined below).
Operating Deficits means, for any specified period beginning no earlier than (i) six (6) months after the earlier of Substantial Completion of the multifamily units on Lot 1A, Highlands Ranch Filing No. 126-A First Amendment ("Phase I"), xx (xx) Xxxxx I being 85% leased, the greater of 0 or the following: (A) the interest payments, accruals and periodic charges and expenses on the Construction Loan for such period; plus (B) the aggregate Operating Expenses for such period of time; minus (c) Gross Operating Revenue for such period of time.
Operating Deficits community expenses (including any debt service) of a pre-stabilized and/or newly constructed community owned and/or operated by a Subsidiary to the extent they exceed the operating revenues at such community.
Operating Deficits has the meaning set forth in the Operating Deficit Guaranty. "Operating Deficits Guaranty" shall mean the Operating Deficits Guaranty, dated as of December 1, 2017, from the Authority Guarantors, jointly and severally, in favor of the Governmental Lender.
Operating Deficits means the amount by which the sum of the expenditures of the Partnership as described in Exhibit D Section 4.4(a)(i),(ii) and (iii) below exceeds the cash receipts generated from the ordinary day-to-day operations of the business of the Partnership from all sources available to the Partnership without deduction of depreciation, cost recovery, and other non-cash charges.