Operating Revenues. In the event the Project produces gross operating revenues, Borrower shall establish with Lender or, at Lender's option, Bxxx Bank, an interest bearing operating account for the Project (the "Project Operating Account") into which Borrower shall deposit, on the Business Day received or, if received on a day which is not a Business Day, the first Business Day following the day of receipt, all revenue associated with the Project (including any Net Operating Income distributed by Hotel Operator to the Borrower), and from which Borrower shall make withdrawals to pay all operating expenses (other than interest on the Loan) of the Project and, to the extent of any remaining Net Operating Income, payments on the Loan pursuant to Section 4.5 if accepted by Lender and to fund the Additional Interest Reserve if required by Section 10.4. Borrower's failure to deposit operating revenues or Net Operating Income into the Project Operating Account as set forth above shall constitute an Event of Default hereunder. In the event that there is excess Net Operating Income in the Project Operating Account after satisfaction of the requirements of this paragraph, they may be retained by Borrower and disbursed at Borrower's discretion pursuant to and upon satisfaction of the requirements of Section 4.5. Borrower hereby pledges the Project Operating Account and all funds on deposit therein to Lender subject, however, to Borrower's rights to excess Net Operating Income under Section 4.5. Borrower hereby pledges, to the extent permitted by, and subject to the limits of, the Hotel Operating Agreement and the Non-Disturbance Agreement, all other accounts to be established in accordance with the terms and provisions of the Hotel Operating Agreement, and all funds on deposit therein to Lender. Prior to the opening of the Hotel, Borrower shall deliver, or shall cause to be delivered, to Lender, a control agreement from each depository bank with which each such Hotel operating account has been established substantially similar in form and substance to the reasonable form of same prepared by Lender's legal counsel to the extent a pledge is permitted under the Hotel Operating Agreement and the Non-Disturbance Agreement.
Operating Revenues. All revenues generated at the Managed Properties shall be the sole property of Operating LLC and all such revenues shall be accounted for and deposited by NEG into Operating LLC's designated bank accounts.
Operating Revenues. Within the general parameters of this ------------------ Agreement, XXX and SRP shall cooperate with each other, in good faith, and shall use their best efforts to maximize the revenues generated by the System to provide Telecommunications Services. In addition, throughout the Term: - 17 -
(a) SRP Revenues. SRP shall be entitled to collect and retain ------------ all revenues generated by use of the System or the Reserved Fiber to deliver services, including, without limitation, Utilicom Services, to SRP customers.
Operating Revenues. All cash receipts of Borrower from operation of the Project or otherwise arising in respect of the Project after January 12, 2010 which are properly allocable to the Project for the applicable period (subject to an underwritten market vacancy rate of not less than 8%), including receipts from leases and parking agreements, concession fees and charges and other miscellaneous operating revenues, proceeds from rental or business interruption insurance, withdrawals from cash reserves (except to the extent any operating expenses paid therewith are excluded from Operating Expenses), in all cases, determined in accordance with GAAP but without taking into account straight-lining of rents and extraordinary revenues (including, but not limited to, lease termination payments) and FAS 141R adjustments, but excluding (a) all rent and other revenues received during the applicable period from tenants that, at any time during the applicable period, are subject to a bankruptcy proceeding, unless such bankruptcy proceeding has been closed, and the subject tenant has not been discharged from its obligations under the subject lease and/or the rental payments due and/or paid by such tenant to Borrower cannot be disgorged from Borrower, (b) rent and other revenues from tenants that have not made the appropriate payment of rent under their respective leases for more than thirty (30) days, provided, however that if a tenant is disputing, in good faith, recoverables or a reconciliation thereof, only the portion that is being disputed shall be excluded, (c) rent and other revenues from tenants under leases which have remaining terms of less than twelve (12) months from the date of calculation, (d) rents and other revenues from tenants that are not operating in a substantial portion of such tenant’s premises, (e) security deposits and xxxxxxx money deposits until they are forfeited by the depositor, (f) advance rentals (i.e. more than thirty (30) days in advance) until they are earned, (g) lump sum lease buy-out payments made by tenants in connection with any surrender, cancellation or termination of their lease, (h) rents and other revenues from Affiliates of Borrower and/or Guarantor, and (i) proceeds from a sale or other disposition.
Operating Revenues a. Total as adjusted operating revenues before true up are $186,802,700.
b. Residential customer growth will be the only component of operating revenues to be trued-up.
Operating Revenues. Subject to its subleases and/or other agreements (including without limitation license and/or concession agreements) with third parties, Tenant shall have the full right to collect and own as Tenant’s exclusive property all revenues, profits, royalties, payments of every kind and rentals derived from, produced within or associated with the Rangers Complex or any component thereof, including, without limitation, all sublease and other rental or license fees, admission ticket revenue, all parking fees, all revenues derived from the sale of programs, novelties and concessions, all sponsorship revenues and facility naming revenues, all radio, television, cablecast, pay television, web streaming, and any other broadcasting or media revenues of any type whatsoever, irrespective of method of transmission or whether derived from the sale of broadcasting rights, broadcast advertising or other sources of revenue relating to broadcasting or other distribution of Major League Baseball games during the Term, and all advertising and signage revenues of any type whatsoever, including but not limited to revenues from the sale of advertising and signage on scoreboards and outfield walls and in all other places on the Rangers Complex.
Operating Revenues. Operating revenues shall be derived from rents and other charges paid by tenants of the shopping center and interest income from moneys held on deposit. Operating revenues shall be used pursuant to the following priorities:
(a) Operating Expenses of the Partnership;
(b) Interest on third-party debt, if any;
(c) Preferred Interest on General Partner Cash Loan principal pursuant to 3.5.3, if operating revenues are available, otherwise, interest will accrue;
(d) Repayment of General Partner Cash Loan principal pursuant to 3.5.3, if operating revenues are available;
(e) Preferred Interest on General Partner and Limited Partner Loan prorata (per ownership interest) pursuant to 3.5.3, if operating revenues are available, otherwise, interest will accrue;
(f) Pay carry cost of Phase II property (Assessment District and real property taxes). Limited Partners' capital account in Phase I will be reduced by General Partner proportionate contribution to Phase II.
(g) Repayment of General Partner Loan principal and Limited Partner Loan principal prorata (per ownership interest), if operating revenues are available;
(h) Repayment of construction loan/permanent loan if operating revenues are available;
(i) Return of the Capital Accounts of the Partners prorata (per ownership interest) until all capital accounts are reduced to zero. Any distribution of Distributable Cash to the Partners shall be made not less frequently than annually.
Operating Revenues. For the purposes of this Operating Agreement, Operating Revenues shall mean revenue derived from uses of the Victoria Centre Facility that are permitted under this Operating Agreement, including without restriction:
Operating Revenues. All operating revenues collected by CONTRACTOR are the property of RCTA. For the purposes of this AGREEMENT, operating revenues shall include but not necessarily be limited to farebox receipts and ticket and pass sales revenue. CONTRACTOR shall be responsible for handling farebox receipts and pass and ticket sales revenues in the manner discussed in the attached EXHIBIT “A”, Scope of Work, and as necessary for RCTA to meet the requirements of State and Federal funding sources.
Operating Revenues. The Arena Manager shall, prior to the Closing Date, establish and maintain the Operating Account and make commercially reasonable efforts to collect Operating Revenues and, upon collection, deposit all Operating Revenues collected into the Operating Account not later than the Business Day after receipt.
