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 Project, excluding any rent 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 ($350.00) per Residential Unit.
Examples of Adjusted Expenses in a sentence
Noninterest Expense ($ in millions) Adjusted Expenses Stable to Prior Quarter and Down Slightly from Prior Year 1.
Tenant shall be responsible for payment of Adjusted Expenses only in the event of an increase in Expenses.
Selling – continued improvement in sales force efficiencies and related costs Cost of Sales – primarily lower print volumes and distribution costs; efficiencies across all functions G&A – lower bad debt expense; efficiencies across various functions 2012 YTD Adjusted Expenses declined 24.1% vs.
Selling – continued improvement in sales force efficiencies and related costs Cost of Sales – primarily lower print volumes and distribution costs; efficiencies across all functions G&A – lower bad debt expense; efficiencies across various functions Q1 2012 Adjusted Expenses declined 24.3% vs.
Adjusted and combined adjusted Adjusted EBITDA Adjusted Expenses 6 figures include the full quarter and exclude the impact of certain items such as impairment, fresh start accounting and reorganization expenses 2) 2Q09 adjusted EBITDA and expenses exclude the impact of a one-time gain realized in connection with the elimination of retiree health care and life insurance benefits.
More Definitions of Adjusted Expenses
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 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:
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
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 expenses for calendar year 2025 minus non-recurring and acquisition related items (as determined by the Plan Committee).
Adjusted Expenses means, for any period, the aggregate, actual cash operating expenses of the Property (excluding non-cash expenses such as depreciation and expenses paid from reserves) for such period, but: (a) not including payments of principal or interest on the Loan during such period; and (b) adjusted to include (but without duplication of the above) appropriate monthly accruals for the Property for such period for: (1) a management fee of at least three and one half of one percent (3.50%) per annum, (2) periodic expenses such as property taxes and insurance, and (3) a reserve (not less than $0.25 per square foot of leasable space in the Improvements per annum) for capital repairs and replacements.
Adjusted Expenses means actual operating expenses related to the Projects, excluding any rent and interest paid and depreciation recorded by Operating Tenants 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: (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.