Adjusted Expenses definition
Adjusted Expenses means actual operating expenses related to the Borrowing Base Assets, excluding any rent and interest paid by Operating Tenants and depreciation recorded by the Operating Tenants or Borrowers on a stabilized accrual basis for the previous twelve (12) month period (as reasonably adjusted by Administrative Agent), including: (i) recurring expenses (e.g., tenant improvements, leasing commissions, carpeting replacement, appliance and drapery replacement and such others as determined by Administrative Agent), (ii) real estate taxes, (iii) management fees (whether paid or not) in an amount not less than five percent (5%) of effective gross income (or the actual management fee paid, if higher), and (iv) a replacement reserve (whether reserved or not) of not less than Three Hundred Fifty and No/100 Dollars ($350.00) per Senior Housing Unit.
Adjusted Expenses means actual operating expenses related to the Projects, excluding any rent and interest paid and depreciation recorded by each Master Tenant on a stabilized accrual basis for the period in question (or, if no period is specified, then for the most current previous twelve (12) month period), as reasonably adjusted by Administrative Agent, including: (i) recurring expenses as determined under GAAP, (ii) real estate taxes, (iii) management fees (whether paid or not) in an amount not less than five percent (5%) of effective gross income (or the actual management fee paid, if higher) and (iv) a replacement reserve (whether reserved or not) of not less than Three Hundred Fifty and No/100 Dollars ($350.00) per Residential Unit per annum.
Adjusted Expenses means actual operating expenses related to the Projects, excluding any rent and interest paid and depreciation recorded by Operating Tenant on a stabilized accrual basis for the previous twelve (12) month period (as reasonably adjusted by Administrative Agent), including: (i) recurring expenses as determined under GAAP, (ii) real estate taxes, (iii) management fees (whether paid or not) in an amount not less than five percent (5%) of effective gross income (or the actual management fee paid, if higher) and (iv) a replacement reserve (whether reserved or not) of not less than Three Hundred Fifty and No/100 Dollars ($350) per Residential Unit.
Examples of Adjusted Expenses in a sentence
Kaiser Family Foun- dation: Hospital Adjusted Expenses Per Inpatient Day.
A description of these expenses is provided below.o Total Expense to Allocate – This is an automatically calculated field that is based on the difference between the Total Adjusted Expenses and Total Direct Expense.
Each of the Adjusted Expenses has important limitations as an analytical tool, and you should not consider it in isolation or as a substitute for the analysis of our results as reported under GAAP.
Each of the Adjusted Expenses should not be considered as an alternative to our operating expenses under GAAP.
We believe that the presentation of each of the Adjusted Expenses is appropriate to provide additional information to investors about certain non-cash items that vary greatly and are difficult to predict.
More Definitions of Adjusted Expenses
Adjusted Expenses means actual operating expenses related to the Project, excluding any rent and interest paid and depreciation recorded by Operating Tenant, on a stabilized accrual basis for the period in question (or if no period is specified, then for the most current previous twelve (12) month period) (as the same may be reasonably adjusted by Administrative Agent), including: (a) recurring expenses as determined under GAAP, (b) real estate taxes, (c) management fees (whether paid or not) in an amount not less than five percent (5%) of effective gross income (or the actual management fee paid, if higher) and (d) a replacement reserve (whether reserved or not) of not less than Three Hundred Fifty and No/100 Dollars ($350.00) per Residential Unit per annum.
Adjusted Expenses means, with respect to any fiscal year, the lesser of (i) the actual expenses incurred by the Company in its operations (exclusive of Company Income Taxes) for such fiscal year, and (ii) 35% of the Royalty Income for such fiscal year.
Adjusted Expenses means expenses for calendar year 2025 minus non-recurring and acquisition related items (as determined by the Plan Committee).
Adjusted Expenses means, with respect to the Project, the actual operating expenses incurred by the Underlying Loan Borrower (or its property manager) in connection with the operation of the Project (excluding any rent and interest paid and depreciation recorded by the Underlying Loan Borrower, and sales, use, occupancy and other taxes) on a stabilized accrual basis for the previous twelve (12) month period, including the following (but without double counting) (as reasonably adjusted by Administrative Agent): (a) recurring expenses as determined under GAAP, (b) real estate taxes, (c) management fees (whether paid or not) in an amount equal to the greater of (i) actual management fees paid in such period and (ii) 5% of effective gross income, and (d) a replacement reserve (whether reserved or not) of not less than $40,000 per annum, all as adjusted by Lender in Lender's sole discretion for projected capital expenditures, but in all events excluding (i) income taxes or other charges in the nature of income taxes, (ii) any expenses (including legal, accounting and other professional fees, expenses and disbursements) incurred in connection with the making of the Loan or the sale, exchange, transfer, financing, or refinancing of all or any portion of the Property or in connection with the recovery of insurance proceeds or condemnation awards which are applied to prepay the Note, (iii) any expense which would otherwise be considered within Operating Expenses pursuant to the provisions above but is paid directly by any tenant deposits, (iv) leasing commissions, (v) interest and principal due on the Loan and deposits into reserves required under the Loan Documents, (vi) capital expenditures, and (vii) depreciation or amortization of capital expenditures and similar non-cash expense items.
Adjusted Expenses means, for any period, the greater of (1) the actual cash operating expenses of the Property (excluding non-cash expenses such as (without limitation) depreciation and expenses paid from reserves) calculated for each calendar month during such period, but excluding payments of principal or interest on the Loan; and adjusted to include appropriate monthly accruals for (i) the actual management fees payable by Borrower (which must be no less than two and one half percent (2.50%) per annum), (ii) periodic expenses such as property taxes and insurance, and franchise fees, if any, and (iii) a reserve equal to the greater of the actual reserves or the Applicable FF&E Reserves for each calendar month during such period for repairs and replacements, or (2) the underwritten, annualized operating expenses for the Property for the applicable period, as determined by Administrative Agent pursuant to a current MAI appraisal of the Property, prepared by an appraiser acceptable to Administrative.
Adjusted Expenses as of each calculation date shall mean: (1) all interest paid or payable by the
Adjusted Expenses means actual operating expenses related to the Projects, on an accrual basis for the immediately preceding twelve (12) month period, unless indicated otherwise (in all circumstances, as the same may be reasonably adjusted by Administrative Agent), including: (i) recurring expenses as determined under GAAP (expressly excluding amortization and depreciation), (ii) real estate taxes, (iii) management fees (whether paid or not) equal to three percent (3%) of effective gross income (or the actual management fee paid, if higher) and (iv) a replacement reserve (whether reserved or not) of not less than $.25 per rentable square foot per annum. If operating statements for the period of time in question are not available, the operating statements covering any lesser period of time will be annualized to determine Adjusted Expenses. CONA – Healthcare Trust, Inc. 92119388.8