Net Operating Income definition

Net Operating Income. With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

Net Operating Income means the amount obtained by subtracting Operating Expenses from Gross Income from Operations.

Net Operating Income means, for any period, the amount obtained by subtracting Operating Expenses for such period from Gross Income from Operations for such period.

Examples of Net Operating Income in a sentence

• The financial information delivered by the Company pertaining to each of the Eligible Properties to the Administrative Agent in accordance with Section 8.4.(d)(ii) fairly presents in a summary form in accordance with Section 8.4.(d)(ii), and otherwise presents accurately in all material respects, the Net Operating Income of each such Eligible Property for the period then ended.

• The Company shall have delivered a summary of the Pool Properties, in a form reasonably acceptable to Purchasers, broken out by Pool Properties in the Pool, detailing or including at a minimum, the property name and address, square footage, percentage of ownership, number of units, cost basis, occupancy, annualized prior quarter Net Operating Income, and operating statements, rent roll and accounts receivable aging for each Pool Property.

• The term “Debt Service Coverage Ratio” shall be calculated using the Project’s trailing twelve (12) month Net Operating Income divided by annual principal and interest payments required under the Note.

More Definitions of Net Operating Income

Net Operating Income or “NOI” means, for any Property and for a given period, the sum of the following (without duplication and determined on a consistent basis with prior periods): (a) gross revenues received in the ordinary course from such Property minus (b) all expenses paid (excluding interest but including an appropriate accrual for property taxes and insurance) related to the ownership, operation or maintenance of such Property, including but not limited to property taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Property, but specifically excluding general overhead expenses of the Borrower or any Subsidiary and any property management fees) minus (c) the FF&E Reserves for such Property as of the end of such period minus (d) the greater of (i) the actual property management fee paid during such period and (ii) an imputed management fee in the amount of three percent (3.0%) of the gross revenues for such Property for such period.

Net Operating Income means, with respect to each Individual Property, for any period the excess, if any, of Operating Income for such period over Operating Expenses for such period.

Net Operating Income means, for any particular period of time, Gross Revenue for the relevant period, less Operating Expenses for the relevant period; provided, however, that if such amount is equal to or less than zero (0), Net Operating Income shall equal zero (0);

Net Operating Income means, for any period, the amount obtained by subtracting Operating Expenses for the Properties for such period from Gross Income from Operations for such period.

Net Operating Income means the amount obtained by subtracting Operating Expenses from Operating Income.

Net Operating Income means the excess, if any, of the Partnership’s gross income over its expenses (but not taking into account depreciation, amortization, or any other noncash expenses of the Partnership), calculated in accordance with the principles of Section 5.01(h) hereof.

Net Operating Income means, for any period, the amount by which Operating Revenues exceed Operating Expenses for such period.