Adjusted Operating Revenue definition
Adjusted Operating Revenue is defined as: net patient revenue less bad debt expense plus other income from operations. Income from investments, unrestricted contributions, interest income, gains from the sale of assets, non-operating revenues, and extraordinary gains are excluded from operating revenues.
Adjusted Operating Revenue means an amount equal to the Gross Operating Revenue minus the following: (i) rental income received from month to month leases (but income received from license agreements for seasonal occupancy, such as the Christmas holiday season, is not required to be subtracted to obtain Adjusted Operating Revenue); (ii) for any tenant whose lease grants to such tenant a right to terminate because of such tenant’s economic performance or because of a failure to satisfy cotenancy requirements, rental income received from such tenant during any period in which the tenant has the right to terminate due to such economic performance or any period in which such cotenancy requirements are not being satisfied, as applicable; and (iii) any income from the sale of any portion of the Property.
Adjusted Operating Revenue means, as of any date of calculation, the sum of (A) the Operating Revenues reasonably projected by Borrower to be received with respect to the Mortgaged Property during the twelve (12) month period beginning on the first day of the following month and ending on the last day of the month in which such calculation is being made in the following year on a pro forma basis from the most recently delivered rent roll based solely upon the base rent portion of the Rents and recoveries due pursuant to executed Leases for part or all of such period, but excluding all Rents from any tenant (a) where the tenant is in monetary or other material default or (b) where the date for exercising a renewal option has passed and either written evidence of on-going good faith negotiations for a renewal with the same tenant or an executed letter or intent specifying the basic business terms with a replacement tenant cannot be provided by the Borrower and (B) any other income deemed recurring by Agent with respect to the Mortgaged Property during the most recent twelve (12) month period for which such information was furnished to the Agent pursuant to Section 2.12(e) hereof, as the same are adjusted by the Agent as necessary to reflect (1) a credit loss/vacancy allowance equal to the greater of 10.0% and actual vacancy as reasonably determined by the Agent and (2) with respect to any Lease other than a Lease to an investment grade rated tenant which by its terms expires after the Maturity Date, a reduction of above market Rents to market as reasonably determined by the Agent.
Examples of Adjusted Operating Revenue in a sentence
The combined debt service payments for all Long-Term Debt and Short-Term Debt in the current fiscal year shall not exceed 10 percent (10%) of the average Adjusted Operating Revenue for the three (3) most recent fiscal years based on audited financial statements.
More Definitions of Adjusted Operating Revenue
Adjusted Operating Revenue means the Adjusted Operating Revenues calculated in accordance with the same methodology used to calculate such named Non-GAAP metric as reported in the Company’s Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission.
Adjusted Operating Revenue means, without duplication, for the trailing three months ending on the applicable DSCR Test Date, annualized,
Adjusted Operating Revenue means, as of any date of calculation, the Operating Revenue with respect to the REO Properties calculated as the sum of (A) the annualized base rent portion of the Rents due pursuant to executed Leases in place for part or all of the twelve (12) month period beginning on the first day of the following month and ending on the last day of the month in which such calculation is being made in the following year, on a pro forma basis, for tenants which are either in occupancy or currently paying rent from a current rent roll provided by Borrower and are not in monetary or other material default under such Leases as of such date of calculation and (B) any other income determined by Agent to be recurring with respect to such REO Properties during the most recent twelve (12) month period for which such information was furnished to Agent pursuant to Section 2.12(d) hereof, as the same are adjusted by Agent as necessary to reflect a credit loss/vacancy allowance equal to the greatest of 5.0%, actual vacancy or comparable market vacancy as reasonably determined by Agent.
Adjusted Operating Revenue means, as of any date of calculation, the sum of (A) the Operating Revenues reasonably projected by Borrower to be received with respect to the Mortgaged Property on a pro forma basis based upon the current annualized rent roll reflecting the base rent portion of the Rents and recoveries due pursuant to Leases (other than Excluded Leases) which are currently paying and (B) any other income deemed recurring by Agent (which shall exclude interest income) with respect to the Mortgaged Property during the most recent twelve (12) month period for which such information was furnished to the Agent pursuant to Section 2.12(e)(v) hereof, as the same are adjusted by the Agent as necessary
Adjusted Operating Revenue means, without duplication, for the trailing three months ending on the applicable DSCR Test Date, annualized, (a) all rental income from tenants In-Occupancy (excluding any rental income from any tenant whose Lease is scheduled to expire within thirty (30) days following the applicable DSCR Test Date unless such Tenant has renewed or extended its Lease or entered into a new Lease for its space), plus (b) all rental income that would have been received (at the recurring contractual base rental rate) from Tenants who are not then paying (and are not required to pay) rent, but will commence paying rent under newly executed Leases within the thirty (30) day period immediately following the applicable DSCR Test Date, had such Tenants been paying rent during such calendar quarter, plus (c) all other revenue (including expense reimbursements) actually collected by Borrower in the ordinary course from the Project, excluding security and other deposits, late fees, lease termination payments or other charges, delinquent rent recoveries, or any other payments of a non-recurring nature.
Adjusted Operating Revenue means, as of any date of calculation, the sum of (A) the Operating Revenues reasonably projected by Borrower to be received with respect to the Mortgaged Property on a pro forma basis based upon the current annualized rent roll reflecting the base rent portion of the Rents and recoveries due pursuant to Leases which are currently paying and (B) any other income deemed recurring by Agent (which shall exclude interest income) with respect to the Mortgaged Property during the most recent twelve (12) month period for which such information was furnished to the Agent pursuant to Section 2.12(e)(v) hereof, as the same are adjusted by the Agent as necessary