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 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 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

Adjusted Expenses Amortization of tax credits Merger-related 1Refer to the appendix on pages 12 & 13 regarding non-GAAP financial measures.
The benefits delivered in RIIO-1 will be captured in full for customers by the regulatory process: costs will be lower, service targets higher, and shareholder returns and hence customer bills will fall during the next period.
The Pre-Dividend Cash Flow Coverage Ratio shall mean the Borrower's Adjusted Pre- Dividend Earnings (as defined herein) as of each calculation date divided by its Adjusted Expenses (as defined herein) as of each such date.
Each of the Adjusted Expenses is not a presentation made in accordance with GAAP.
These Adjusted Expenses take into account non-cash stock compensation expense, acquisitions and integration related costs including restructuring and severance, initial public offering costs, legal and litigation expenses including settlement payments, new jurisdictions and regulatory licensing costs, non-cash charges on capitalized installation and delivery, non-cash charges and loss on disposition of assets and other adjustments.

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, excluding any rent and interest paid and depreciation recorded by Operating Tenants on a stabilized accrual basis for the twelve (12) month period ended on the last day of the preceding calendar quarter (as reasonably adjusted by 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 Four Hundred and No/100 Dollars ($400.00) per Residential Unit per annum.

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, 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, for any period, 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 (a) a management fee of at least three percent (3%) per annum, (b) periodic expenses such as property taxes, insurance and franchise fees, and (c) during the first Extension Period, a reserve equal to three percent (3%) of Revenues and during the second Extension Period, a reserve equal to four percent (4%) of Revenues, in each case, per annum) for repairs and replacements.

Adjusted Expenses means the actual cash operating expenses of each Eligible Property then covered by the Deed of Trust calculated for the applicable period of time, adjusted to include appropriate monthly accruals, including, without limitation, for (a) property taxes, (b) insurance, and (c) reserves for capital repairs and replacements (in an amount approved by Lender. For purposes of this Agreement, Adjusted Expenses shall not include payments of principal and interest made on the Revolving Note.