Adjusted Borrowing Base NOI definition
Adjusted Borrowing Base NOI means, with respect to any Borrowing Base Property for the prior quarter, annualized, Borrowing Base NOI for such Borrowing Base Property less the Capital Reserve for such Borrowing Base Property.
Adjusted Borrowing Base NOI means, for a given period, the Adjusted NOI attributable to the Borrowing Base Properties for such period.
Adjusted Borrowing Base NOI means an amount equal to (a) the aggregate NOI from Approved Leases of Borrowing Base Properties for the most recently completed two full fiscal quarters multiplied by 2, minus (b) the Reserves for Replacements for all such Borrowing Base Properties as of the end of such period, minus (c) pre-paid rents and revenues, rents and revenues from leases in default or greater than 90 days past due, leases whereby a tenant is subject to insolvency or bankruptcy proceedings and leases within 6 months of the initial lease maturity or earliest termination date whereby a lease extension notice has not been provided, lease termination fees and security deposits except to the extent applied in satisfaction of tenants’ obligations for rent. To the extent that a Borrowing Base Property (other than the Initial Properties) has not been owned (or otherwise eligible for inclusion as a Borrowing Base Property) for the past full two fiscal quarters, the NOI from that Property will be annualized.
Examples of Adjusted Borrowing Base NOI in a sentence
To the extent that such percentage limitation is exceeded, such Qualifying Borrowing Base Properties shall still be included in the calculations of Borrowing Base Value and of Adjusted Borrowing Base NOI, but the amounts so contributed to Borrowing Base Value and Adjusted Borrowing Base NOI shall be reduced to the extent necessary to comply with such percentage limitation.
Not more than ten percent (10%) of the Borrowing Base Value and not more than ten percent (10%) of the Adjusted Borrowing Base NOI may at any time be attributable to Qualifying Borrowing Base Properties that are not owned in fee simple, but are instead leased under a Qualifying Ground Lease.
More Definitions of Adjusted Borrowing Base NOI
Adjusted Borrowing Base NOI means, for a given period, the Adjusted NOI attributable to the Borrowing Base Properties for such period. “Adjusted Borrowing Base NOI Exclusion Period” the meaning given that term in the definition of “Debt Yield Ratio (Senior Debt)”. “Adjusted NOI” means, with respect to any Property and for a given period and without duplication, the amount equal to: (a) rents and other