NASAA Guidelines. The NASAA Statement of Policy Regarding Real Estate Investment Trusts as in effect on the date hereof. NET INCOME. For any period, the total revenues applicable to such period, less the total expenses applicable to such period excluding additions to reserves for depreciation, bad debts or other similar non-cash reserves; provided, however, Net Income for purposes of calculating total allowable Operating Expenses (as defined herein) shall exclude the gain from the sale of the Company's assets.
Appears in 6 contracts
Samples: Advisory Agreement (NNN Healthcare/Office REIT, Inc.), Advisory Agreement (NNN Healthcare/Office REIT, Inc.), Advisory Agreement (NNN Healthcare/Office REIT, Inc.)
NASAA Guidelines. The NASAA Statement of Policy Regarding Real Estate Investment Trusts as in effect on the date hereof. NET INCOME. For any period, the total revenues applicable to such period, less the total expenses applicable to such period excluding additions to reserves for depreciation, depletion, bad debts or other similar non-cash reserves; provided, however, Net Income for purposes of calculating total allowable Operating Expenses (as defined herein) shall exclude the gain from the sale of the Company's assets.
Appears in 4 contracts
Samples: Advisory Agreement (Wells Timberland REIT, Inc.), Advisory Agreement (Wells Timber Real Estate Investment Trust, Inc.), Advisory Agreement (Wells Timber Real Estate Investment Trust, Inc.)
NASAA Guidelines. The NASAA Statement of Policy Regarding Real Estate Investment Trusts as in effect on the date hereof. NET INCOMENet Income. For any period, the total revenues applicable to such period, less the total expenses applicable to such period excluding additions to reserves for depreciation, bad debts or other similar non-cash reserves; provided, however, Net Income for purposes of calculating total allowable Operating Expenses (as defined herein) shall exclude the gain from the sale of the Company's assets.
Appears in 2 contracts
Samples: Advisory Agreement (Hartman Commercial Properties Reit), Advisory Agreement (Hartman Commercial Properties Reit)
NASAA Guidelines. The NASAA Statement of Policy Regarding Real Estate Investment Trusts as in effect on the date hereof. NET INCOME. For any period, the total revenues applicable to such period, less the total expenses applicable to such period excluding additions to reserves for depreciation, depletion, bad debts or other similar non-cash reserves; provided, however, Net Income for purposes of calculating total allowable Operating Direct Fees and Expenses (as defined herein) shall exclude the gain from the sale of the Company's assets.
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