Adjusted Funds From Operations definition

Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

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Adjusted Funds From Operations means, with respect to a Person and for a given period, Funds From Operations of such Person for such period, plus non-cash charges, including expense for share-based payment awards and impairment charges (other than non-cash charges that constitute an accrual of a reserve for future cash payments), in each case, of such Person for such period.

Adjusted Funds From Operations means Funds From Operations less Preferred Dividends, adjusted for impairment and other non-cash charges.

Examples of Adjusted Funds From Operations in a sentence

• If, during any calendar quarter during the Advance Period, the Distributions paid exceed the Company’s Adjusted Funds From Operations, the Advisor will advance to the Company funds equal to the amount by which the Distributions paid for such quarter exceed the Company’s Adjusted Funds From Operations for such quarter, up to an amount equal to a 7.0% cumulative non-compounded annual return on Stockholders’ invested capital, prorated for such quarter.

• For each Fiscal Year, Executive shall be eligible to receive a long-term equity incentive award in the form of Restricted Stock under the Company’s 2017 Incentive Award Plan or any successor plan when the Company attains the Adjusted Funds From Operations targets as described in the Company’s Long-Term Equity Plan (“LTEP”) and as further adjusted in accordance with the procedures set forth in Appendix 1 to the LTEP.

• Sunstone shall not declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or securities on account or in respect of any of its Stock or Stock Equivalents in any Fiscal Year which exceeds 85% of the Adjusted Funds From Operations of Sunstone for such Fiscal Year or 100% of Free Cash Flow of Sunstone for such Fiscal Year.

• If, during any calendar quarter during the Deferral Period, the Distributions paid exceed the Company’s Adjusted Funds From Operations, the Company’s obligation to pay fees under this Agreement shall be deferred in an amount equal to the amount by which the Distributions paid for such quarter exceed the Company’s Adjusted Funds From Operations for such quarter, up to an amount equal to a 7.0% cumulative non-compounded annual return on Stockholders’ invested capital, prorated for such quarter.

• On and at all times after Closing Date, the Borrower shall not, and shall not permit any of its Subsidiaries to, make any Restricted Payments during the Applicable Period most recently ended in excess of the greater of (i) 95.0% of Adjusted Funds From Operations of the Borrower for such Applicable Period and (ii) the amount required for the Borrower to maintain its status as a REIT.

More Definitions of Adjusted Funds From Operations

Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness.

Adjusted Funds From Operations means, with respect to a Person and for a given period, Funds From Operations of such Person for such period, plus non-cash charges, including amortization expense for stock options and impairment charges (other than non-cash charges that constitute an accrual of a reserve for future cash payments), of such Person for such period.

Adjusted Funds From Operations means, with respect to the Parent Guarantor, net income or loss applicable to common Equity Interest holders (computed in accordance with GAAP), excluding non-cash interest from development loans and gains (or losses) from sales of property, plus depreciation and amortization, plus depreciation and amortization from discontinued operations, plus non-cash amortization of deferred financing costs, amortization of loan discount or premium, non-cash stock compensation expense, straight-line amortization of ground lease expense, non-cash impairment of long-lived assets, non-cash write-offs of deferred financing costs in connection with refinancing activity, and acquisition and terminated transaction costs.

Adjusted Funds From Operations means, for any period, Consolidated Net Income of HHRI and its Subsidiaries for such period plus amounts which have been deducted and minus amounts which have been added for, without duplication (in each case, to the extent of HHRI and each such Subsidiary’s proportionate interest therein): (a) depreciation expense, (b) amortization expense and other non-cash charges with respect to real estate assets for such period, including impairment charges, (c) gains and losses from sales and other dispositions of depreciable property and other investments, other than from (i) sales of inventory and (ii) timeshare assets held-for-sale, in each case, in the ordinary course of business, (d) losses resulting from restructuring of Indebtedness and (e) amortization of financing cost.

Adjusted Funds From Operations for any period shall mean the Adjusted Consolidated Net Income for such period, plus depreciation and amortization of real property (including furniture and equipment) and other real estate assets and excluding (to the extent such amount was added or deducted, as applicable, in calculating such Adjusted Consolidated Net Income): (i) gains or losses from (a) the restructuring or refinancing of Indebtedness or (b) sales of properties; (ii) non-cash asset impairment charges; (iii) non-cash charges related to redemptions of preferred stock of the REIT Guarantor; (iv) any non-cash compensation expense attributable to grants of stock options, restricted stock or similar rights to officers, directors and employees of Consolidated Parties; (v) the amortization of financing fees and the write-off of financing costs; (vi) deferred rental income; (vii) any one-time direct transaction or restructuring costs incurred in connection with acquisitions or dispositions; (viii) any other non-cash charges associated with the sale or settlement of any Hedging Transaction; and (ix) costs, fees, charges and other expenses related to the Loan Documents and other Indebtedness not prohibited hereunder.

Adjusted Funds From Operations means, for any Person, for any period, Net Income (Loss) of such Person for such period plus (a) the sum of the following amounts of such Person and its Subsidiaries for such period determined on a consolidated basis in conformity with GAAP to the extent included in the determination of such Net Income (Loss): (i) depreciation expense, (ii) amortization expense and other non-cash charges of such Person and its Subsidiaries with respect to their real estate assets for such period, (iii) losses from Asset Sales of such Person and its Subsidiaries, losses resulting from restructuring of Indebtedness of such Person and its Subsidiaries and other extraordinary losses, and (iv) minority interests attributable to FelCor LP's partnership units; less (b) the sum of the following amounts of such Person and its Subsidiaries for such period determined on a consolidated basis in conformity with GAAP to the extent included in the determination of such Net Income (Loss): (i) gains from Asset Sales of such Person and its Subsidiaries, gains resulting from restructuring of Indebtedness of such Person and its Subsidiaries and other extraordinary gains, and (ii) the applicable share of Net Income (Loss) of such Person's Unconsolidated Entities; plus (c) such Person's Pro Rata Share of Adjusted Funds From Operations of such Person's Unconsolidated Entities.

Adjusted Funds From Operations means, for any period, Consolidated Net Income for such period plus (a) the sum of the following amounts for such period (without duplication) to the extent deducted in the determination of Consolidated Net Income for such period: (i) depreciation expense, (ii) amortization expense and other non-cash charges of HHRI and its Subsidiaries with respect to their real estate assets for such period, (iii) losses from Asset Sales, losses resulting from restructuring of Indebtedness, and extraordinary losses, (iv) amortization of financing cost, (v) minority interest expense and (vi) dividends on Qualified Preferred Stock; less (b) the sum of the following amounts to the extent included in the determination of Consolidated Net Income for such period: (i) gains from Asset Sales, gains resulting from restructuring of Indebtedness, and extraordinary gains, (ii) the applicable share of Consolidated Net Income of HHRI’s Unconsolidated Entities, and (iii) minority partner adjusted funds from operations; plus (without duplication of any amounts referred to in clause (a) above in this definition) (c) HHRI’s pro rata share of Adjusted Funds From Operations of HHRI’s Unconsolidated Entities based upon HHRI’s percentage ownership interest in such Unconsolidated Entities.