Common use of Funds from Operations Clause in Contracts

Funds from Operations. With respect to any Person for any period, an amount equal to the Net Income (or Loss) of such Person for such period, computed in accordance with GAAP, excluding gains (or losses) from extraordinary items or non-recurring gains or losses (but including gains or losses on sales of Real Estate in the ordinary course of business, e.g. build to suits), plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be recalculated to reflect funds from operations on the same basis. “Funds from Operations” shall be adjusted to remove any impact of the expensing of acquisition costs pursuant to FASB ASC 805, including, without limitation, (i) the addition to Net Income of costs and expenses related to ongoing consummated acquisition transactions during such period; and (ii) the subtraction from Net Income of costs and expenses related to acquisition transactions terminated during such period. GAAP. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) as to financial statements in which such principles have been properly applied.

Funds from Operations. With respect to any Person for any period, an amount equal to (a) the Net Income (or Loss) of such Person for such period, computed in accordance with GAAP, excluding calculated without regard to (i) gains (or losses) from extraordinary items or non-recurring gains or losses (but including gains or losses on debt restructuring and sales of Real Estate property during such period, and (ii) charges for impairment of real estate, plus (b) depreciation with respect to such Person’s real estate assets and amortization (other than amortization of deferred financing costs) of such Person for such period plus (c) fees paid to the Advisor pursuant to the Advisory Agreement (provided that such fees are subject to the Subordination of Advisory Agreement and are not increased except as provided in the ordinary course of business, e.g. build to suits§7.15), plus real estate depreciation (d) other non-cash items (other than amortization of deferred financing costs, straight line rent and amortizationother above and below market rent adjustments), and all after adjustments adjustment for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures Unconsolidated Affiliates will be recalculated calculated to reflect funds from operations on the same basis. “Funds from Operations” shall be adjusted to remove any impact of the expensing of acquisition costs pursuant to FASB ASC 805, including, without limitation, (i) the addition to Net Income of costs and expenses related to ongoing consummated acquisition transactions during such period; and (ii) the subtraction from Net Income of costs and expenses related to acquisition transactions terminated during such period. GAAP. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) as to financial statements in which such principles have been properly applied.

Funds from Operations. With respect to any Person for any period, an amount equal to the Net Income Consolidated net income (or Lossloss) of such Person for such periodthe Company and its Subsidiaries before extraordinary items, computed in accordance with GAAPGenerally Accepted Accounting Principles, excluding plus, to the extent deducted in determining net income (loss) and without duplication, (i) gains (or losses) from extraordinary items debt restructuring and sales of property (or adjustments to basis of properties or other assets), (ii) non-recurring gains or losses charges, (but including gains or losses on sales iii) provisions for losses, (iv) real estate related depreciation, amortization and other non-cash charges (excluding amortization of Real Estate in the ordinary course of business, e.g. build to suitsfinancing costs), plus real estate depreciation and amortization(v) amortization of organizational expenses minus, to the extent included in net income (loss) and after adjustments for unconsolidated partnerships without duplication, (a) non-recurring income (loss) and joint ventures. Adjustments for (b) equity income (loss) from unconsolidated partnerships and joint ventures will less the proportionate share of Funds From Operations of such partnerships and joint ventures, which adjustments shall be recalculated to reflect funds from operations calculated on the same a consistent basis. “Funds from Operations” shall be adjusted to remove any impact of the expensing of acquisition costs pursuant to FASB ASC 805, including, without limitation, (i) the addition to Net Income of costs and expenses related to ongoing consummated acquisition transactions during such period; and (ii) the subtraction from Net Income of costs and expenses related to acquisition transactions terminated during such period. GAAPGenerally Accepted Accounting Principles. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person in question adopting the same principles; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principlesGenerally Accepted Accounting Principles) as to financial statements in which such principles have been properly applied.