Net Operating Income AGR. Net Operating Income AGR" shall mean the annual rate of growth in Net Operating Income, expressed as a percentage (rounded up to the nearest whole percent), determined in accordance with the following formula:
Appears in 3 contracts
Samples: Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp)
Net Operating Income AGR. Net Operating Income AGR" shall ------------------------------------- mean the annual rate of growth in Net Operating Income, expressed as a percentage (with any fraction of a percent of 0.50% or more being rounded up to the nearest whole percent), determined in accordance with the following formula:
Appears in 1 contract
Net Operating Income AGR. Net Operating Income AGR" ------------------------------------- shall mean the annual rate of growth in Net Operating Income, expressed as a percentage (with any fraction of a percent of 0.50% or more being rounded up to the nearest whole percent), determined in accordance with the following formula:
Appears in 1 contract
Net Operating Income AGR. Net Operating Income AGR" shall mean the annual rate of growth in Net Operating Income, expressed as a percentage (rounded up to the nearest whole percent), determined in accordance with the following formula:: (A-B) (100) ----------- B where "A" equals Net Operating Income for the Calculation Year, and "B" equals Net Operating Income for the calendar year immediately preceding the Calculation Year. Section 1.20
Appears in 1 contract
