Annual Gross Rentals definition

Annual Gross Rentals. The Gross Rentals during the twelve months (12) immediately before the date of the destruction or damage by a “breakdown” insured against. “Standard Gross Rentals” – The Gross Rentals during that period in the twelve months (12) immediately before the date of the destruction or damage by a “breakdown” insured against or which corresponds with the Indemnity Period. To the Annual Gross Rentals and Standard Gross Rentals such adjustments shall be made as may be necessary to provide for the trends of, variations in or special circumstances affecting Gross Rentals either before or after the destruction or damage or which would have affected Gross Rentals had the destruction or damage not occurred, so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the destruction or damage would have been obtained during the relative period after the destruction or damage.
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Annual Gross Rentals means the Gross Rentals during the 12 (twelve) month period immediately before the date of the destruction or damage by a peril insured against to which such adjustments shall be made as necessary to provide for the trends of, variations in or special circumstances affecting Gross Rentals either before or after the destruction or damage or which would have affected Gross Rentals had the destruction or damage not occurred, so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the destruction or damage would have been obtained during the relative period after the destruction or damage.
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Annual Gross Rentals means the proportional equivalent for a period of 12 months of the Gross Rentals realised during the period between the commencement of the Business and the date of the Incident
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Examples of Annual Gross Rentals in a sentence

  • Annual gross rentals Annual Gross Rentals means the Gross Rentals earned during the twelve (12) months immediately before the date of the Breakdown.

  • Provided that if the estimated value of Gross Rentals declared at the commencement of each Period of Insurance is less than 80% of the Annual Gross Rentals (or the appropriate multiple if the Indemnity Period exceeds twelve months), the amount payable hereunder shall be proportionately reduced.

  • We will not pay more than the reduction avoided by the expenditure The maximum We will pay in respect of any one claim is theGross Rentals Sum Insured shown in The Schedule.If at the time of the Damage the Sum Insured is less than the Annual Gross Rentals (proportionately increases where the Maximum Indemnity Period exceeds 12 months), You will be Your own insurer for the difference and bear a rateable share of the loss.

  • We will not pay more than the reduction avoided by the expenditureless any savings during the Indemnity Period in business charges or expenses, payable out of Gross Rentals, which reduce or cease due to the Damage.If at the time of the Damage the Sum Insured is less than the Annual Gross Rentals (proportionately increased where the Maximum Indemnity Period exceeds 12 months), You will be Your own insurer for the difference and bear a rateable share of the loss.

  • Provided that if the estimated value of Gross Rentals declared at the commencement of each Period of Insurance is less than the Annual Gross Rentals (or the appropriate multiple if the Indemnity Period exceeds twelve months), the amount payable hereunder shall be proportionately reduced.

  • This provision shall not apply if the amount of the loss does not exceed 10% of the estimated value of Annual Gross Rentals declared at the commencement of the Period of Insurance.

  • Gross Rentals is less than 50% of the Annual Gross Rentals (appropriately increased if the Indemnity Period exceeds 12 months).

  • Annual Gross Rentals – The Gross Rentals during the twelve months (12) immediately before the date of the destruction or damage by a peril insured against.

  • Gross Rentals is less than 70% of the Annual Gross Rentals (appropriately increased if the Indemnity Period exceeds 12 months).

  • Definitions Applicable to this Section Annual Gross Rentals means the Gross Rentals earned during the 12 months immediately before the date of the Insured Event, to which adjustment shall be made to reflect the trends in the Business and any other circumstances in order to arrive at the same result that would have been obtained had the Insured Event not occurred.

Related to Annual Gross Rentals

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the calendar year involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [ROYCE & ASSOCIATES, LLC LETTERHEAD] December 31, 2006 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce Micro-Cap Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Royce Micro-Cap Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the calendar year ending December 31, 2007, and/or agrees to reimburse expenses relating to such calendar year to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.66% of the Class’ average net assets for such calendar year. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent calendar year through the year ending December 31, 2015 (but not for any calendar year thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such calendar year. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Gross Revenue means:

  • Gross Revenues means all amounts actually collected as rents or other charges for the use and occupancy of the Properties, but shall exclude interest and other investment income of Owner and proceeds received by Owner for a sale, exchange, condemnation, eminent domain taking, casualty or other disposition of assets of Owner.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Building Operating Expenses means the portion of "Operating Expenses," as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following:

  • Rentals of a Person means the aggregate fixed amounts payable by such Person under any Operating Lease.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Base Year means the period set forth in Section 5 of the Summary.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.