Aggregate Net Operating Income definition
Aggregate Net Operating Income means for any period an amount equal to Aggregate Gross Revenues for such period less Aggregate Facility Expenses for such period.
Aggregate Net Operating Income means an amount equal to Aggregate Gross Revenues less Aggregate Community Expenses.
Aggregate Net Operating Income means the amount by which Aggregate Total Facility Revenues exceeds Operating Expenses under all of the Leases.
Examples of Aggregate Net Operating Income in a sentence
The sum of the Aggregate Net Operating Income for the trailing twelve months ended as of each month after August 31, 2002 and more than 10 days prior to the Closing Date is not less than $8,100,000.
Minimum Aggregate Net Operating Income ------------------------------------------ .
Such statements, with respect to the Borrower and the Other Borrowers shall set forth the financial condition and the results of operations for the Property and the Other Properties for such Fiscal Year, and shall include, but not be limited to, amounts representing annual Aggregate Net Cash Flow, Aggregate Net Operating Income, Aggregate Gross Income from Operations and Aggregate Operating Expenses.
More Definitions of Aggregate Net Operating Income
Aggregate Net Operating Income means, for any period, the sum of the Net --------------------------------- Operating Income for all of the Facilities for such period. ---- "Agreement" means this Loan Agreement, dated as of December 6, 2002 among --------- Borrower and Lender. ----- "Anniversary Date" means each anniversary of the Closing Date. ----------------- "Authorized Officer" means the chief executive officer, the president, the chief ------------------ financial officer, the secretary, the vice president of financial planning or the treasurer of Borrower. "Borrower" means Emeritus Realty Corporation, a Nevada corporation. -------- "Borrower Pledge Agreement" has the meaning provided in Section 3.1(e)(iii). --------------------------- ------------------- "Borrower Pledged Interests" means the equity interests in the Property Owners ---------------------------- which are to be pledged as security pursuant to the Borrower Pledge Agreement. "Business Day" means any day except a Saturday or Sunday or a day when ------------- commercial banks are authorized or required by law to be closed in Los Angeles, -------- California. "Capital Additions" has the meaning provided in the Master Lease. ------------------ "Capital Lease Obligations" means, with respect to any Person, any and all lease ------------------------- obligations of such Person and its Subsidiaries on a consolidated basis that, in accordance with GAAP, have been or are required to be capitalized on the books of such Person and its Subsidiaries. "Cash Equivalents" means: (i) securities issued or fully guaranteed or insured ----------------- by the United States government or any agency thereof and backed by the full faith and credit of the United States having a maturity of not more than 1 year from the date of acquisition; (ii) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within 1 year from the date of acquisition thereof and, at the time of acquisition, rated A by S&P or A by ▇▇▇▇▇'▇; (iii) certificates of deposit, time deposits, Eurodollar time deposits, or bankers' acceptances having in each case a tenor of not more than 1 year, issued by an United States commercial bank having combined capital and surplus of not less than $100,000,000 whose short-term securities are rated at least A-1 by S&P or P-1 by ▇▇▇▇▇'▇; (iv) certificates of deposit in an amount less than or equal to $100,000 in the ag...
Aggregate Net Operating Income means, for any period, the excess of (x) the Aggregate Gross Income over (y) the Aggregate Operating Expenses.
Aggregate Net Operating Income means, at any time, the aggregate Net Operating Income for all of the Mortgaged Properties.
Aggregate Net Operating Income means, as for any period, the Net Operating Income for such period from all of the Borrowing Base Properties.