Adjusted Operating Expenses definition

Adjusted Operating Expenses means Operating Expenses excluding Operator’s Fee, insurance premiums (with the exception of the insurance described in Section 12.02), discretionary employee bonuses (to the extent exclusion is approved by Lessee) and Property real estate and personal property taxes.

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Adjusted Operating Expenses. : shall mean Operating Expenses (i) to ----------------------------- account for all actual or required Operating Expenses as opposed to escrowed or estimated payments made pursuant to the Senior Loans or otherwise and (ii) such other adjustments to Operating Expenses to adjust for seasonal, extraordinary or non-customary expenses and costs and other abnormalities.

Adjusted Operating Expenses. : shall mean Operating Expenses as reasonably adjusted by Holder (i) to account, as appropriate in Holder's sole reasonable discretion, for all actual or required Operating Expenses as opposed to escrowed or estimated payments and (ii) such other adjustments to Operating Expenses, in Holders sole reasonable discretion to adjust for seasonal, extraordinary or non-customary expenses and costs and other abnormalities.

Examples of Adjusted Operating Expenses in a sentence

Until such time that any Annual Budget has been approved by Lender, the prior Approved Annual Budget shall apply for all purposes hereunder, except in connection with Lender’s determination of Adjusted Operating Expenses for purposes of calculating Underwritten Net Cash Flow; provided that, such Approved Annual Budget shall be adjusted to reflect actual increases in Taxes, Other Charges, Insurance Premiums and utility charges, and all other expenses shall be adjusted by the CPI.
Short-Term Debt in the form of a line of credit (“Short-Term LOC”) is permitted with prior approval of HUD pursuant to the following: The Short-Term LOC may not have a limit exceeding fifteen (15) days of Adjusted Operating Expenses, as reflected on the Most Recent Audited Financial Statements; The Short-Term LOC may be secured by patient accounts receivable, subject to consent by the Lender and HUD.
The following terms have the meanings set forth below: ADJUSTED NET OPERATING INCOME: for any period, the Adjusted Rent for such period, less the sum of, without duplication, (a) Adjusted Operating Expenses and (b) any deposits to (but not withdrawals from) any reserves required under this Agreement.
Line of Credit Long-Term or Short-Term Debt in the form of a line of credit (“LOC”) is only permitted with prior written approval of HUD pursuant to the following: The LOC may not have a limit exceeding fifteen (15) days of Adjusted Operating Expenses, as reflected on the Most Recent Audited Financial Statements; The LOC may be secured by Patient Accounts Receivable, subject to consent by the Lender and HUD.
If the review or audit discloses that Tenant has overpaid Tenant's Percentage Share of an increase in Adjusted Operating Expenses and Property Taxes, Landlord shall promptly refund such overpayment to Tenant.

More Definitions of Adjusted Operating Expenses

Adjusted Operating Expenses means Operating Expenses as determined and adjusted by the Administrative Agent in accordance with its then current audit policies and procedures.

Adjusted Operating Expenses is defined as: total operating expenses less depreciation and bad debt expense.

Adjusted Operating Expenses means Operating Expenses as determined and adjusted by Lender in accordance with its current audit policies and procedures.

Adjusted Operating Expenses means the aggregate amount of all actual operating expenses of the Property paid by Borrower in the most recently ended six (6) month period for which Borrower has delivered financial statements to Administrative Agent, annualized, provided that the amount of management fees included in Adjusted Operating Expenses shall be equal to the greater of (x) actual management fees paid by Borrower with respect to such period or (y) 2.0% of the operating income received by Borrower during such period. Until either Gap, Inc. or one or more other tenants leasing 15,000 square feet or more have opened for business in the Improvements such that six (6) months of historical operating expenses are available, Borrower will be required to annualize the actual expenses for the available period and such calculation will be subject to adjustment in Administrative Agent's reasonable discretion. Adjusted Operating Expenses shall exclude from expenses payments of principal and interest under the Loan Documents and other expenses payable to Administrative Agent and Lenders pursuant to the Loan Documents, capital expenditures, Tenant Improvement Costs, leasing commissions and extraordinary items of expense.

Adjusted Operating Expenses means, for any period, an amount equal to (A) Professional Practice Cost Savings (as hereinafter defined), plus (B) Authorized Management Company Operating Costs, minus (C) Addbacks;

Adjusted Operating Expenses means, for the applicable period, the Operating Expenses incurred during such period using (x) management fees equal to the greater of (i) assumed management fees of three percent (3%) of Gross Revenue and (ii) actual management fees incurred during such period and (y) franchise fees equal to the greater of (i) assumed franchise fees of four percent (4%) of Gross Revenue and (ii) actual franchise fees incurred during such period.

Adjusted Operating Expenses. – means, for any period of time, Gross Operating Expenses for such period, subject to the following adjustments: