Annualized NOI means the annualized net operating income for the Property, calculated as follows: the sum of (i) the net operating income for the Property for the month immediately prior to the month in which the Exercise Notice is delivered plus (ii) the net operating income for the Property for the month in which the Exercise Notice is delivered plus (iii) the net operating income for the Property for the month immediately following the month in which the Exercise Notice is delivered, annualized.
Annualized NOI means, with respect to an Income Property or a -------------- Property subject to a Direct Financing Lease, as of any given date, the annual net operating income from the collection of rents and reimbursements according to leases in good standing, including income from property accounted for as Direct Financing Leases, after deducting all Operating Expenses, calculated by annualizing the income received and Operating Expenses incurred during the quarterly period ending most recently prior to such date, reported in accordance with GAAP. "ANNUALIZED NOI" for properties acquired by the owner thereof during -------------- any Measurement Period may be adjusted to reflect the actual performance of such property for the entire quarterly period irrespective of the date such property was acquired.
Annualized NOI means the annualized net operating income for the Property, calculated as follows: the sum of (i) the net operating income for the Property for the month immediately prior to the month in which the Exercise Notice is delivered plus (ii) the net operating income for the Property for the month in which the Exercise Notice is delivered plus (iii) the net operating income for the Property for the month immediately following the month in which the Exercise Notice is delivered, annualized. “Project Indebtedness” shall mean any outstanding financing or other arrangements entered into by or on behalf of the LLC which relate to the Property, including, without limitation, any mezzanine or bridge financing, or amendments or extensions thereof. The transfer of the LLC Interest as contemplated by this Agreement shall be subject to any Project Indebtedness.
Examples of Annualized NOI in a sentence
Management believes Annualized NOI provides useful information in understanding our financial performance over a 12-month period, however, investors and other users are cautioned against attributing undue certainty to our calculation of Annualized NOI.
The deduction of cash and cash equivalents at our share from consolidated and unconsolidated indebtedness in the calculation of Net Debt, therefore, should not be understood to mean that it is available exclusively for debt reduction at any given time.Net Operating Income ("NOI") and "Annualized NOI" are non-GAAP financial measures management uses to assess a segment's performance.
There can be no assurance that the Annualized NOI shown will reflect our actual results of operations over any 12-month period.
Management believes Annualized NOI provides useful information in understanding JBG SMITH’s financial performance over a 12-month period, however, investors and other users are cautioned against attributing undue certainty to our calculation of Annualized NOI.
The deduction of cash and cash equivalents at our share from consolidated and unconsolidated indebtedness in the calculation of Net Debt, therefore, should not be understood to mean that it is available exclusively for debt reduction at any given time.Net Operating Income ("NOI") and "Annualized NOI" are non-GAAP financial measures management uses to assess an asset's performance.
More Definitions of Annualized NOI
Annualized NOI means, for the period of the immediately preceding calendar month and the succeeding eleven (11) calendar months thereafter, the anticipated gross income from operations of the Real Estate (excluding the proceeds of any loans, contributions to capital, the proceeds from any sale, exchange or other disposition of all or any portion of the Real Estate, and the proceeds from any casualty insurance or condemnation), including base rental and expense reimbursement revenue (based on a lease-in-place analysis which reflects the then current leases in place and not in monetary default in an amount in excess of two (2) months of rent under any such lease), health club income, antennae income, storage income, service fees, charges, and other income earned by the Real Estate, less the anticipated operating expenses of the Real Estate (such as cleaning, utilities, administrative, landscaping, security, maintenance, repair, and management, health club, marketing, and reserves for replacements of $0.15 per square foot) for such period (but not less than the amount of such expenses for the most recently ended 12 calendar month period), and less the anticipated fixed expenses (such as insurance premiums and real estate taxes or assessments) for such period (but not less than the amount of such expenses for the most recently ended 12 calendar month period, provided that if Prime provides reasonable evidence to Indemnitee that real estate taxes or assessments will decrease, lower estimates may be used for such expenses), but excluding all anticipated capital expenditures in excess of $40,000 per month, leasing commissions in excess of $200,000 per year, debt service under the Junior Loan and Senior Loan, depreciation and amortization, amortization of above/below market leases, bad debt expenses for prior periods, bad debt expenses related to leases no longer in place, and other similar non-cash items. Such gross income and expenses for any period shall be determined on a cash basis.
Annualized NOI means the NOI for the twelve (12) full calendar months immediately preceding the date in question.
Annualized NOI means an annualized number based on the NOI for the trailing six (6) month period ending on the last day of the month prior to the date of receipt by the Buyer of an Exercise Notice.
Annualized NOI means the projected annualized net operating income of a property determined as of the applicable Calculation Date on an accrual basis by calculating the excess of:
Annualized NOI means, with respect to an Income Property or a -------------- Property subject to a Direct Financing Lease, as of any given date, the annual net operating income from the collection of rents and reimbursements according to leases in good standing, including income from property accounted for as Direct Financing Leases, after deducting all expenses incurred to operate the property, including, without limitation, an allocation of hypothetical management fees of three percent (3%) of rent, administration, insurance, repairs, maintenance, utilities, property taxes and a reasonable reserve for structural replacements and repairs, but exclusive of any debt service payments under any indebtedness secured by the subject property, if any, calculated by annualizing the income received and expenses incurred during the quarterly period ending most recently prior to such date, reported in accordance with GAAP. "Annualized NOI" for properties acquired by the owner -------------- thereof during any Measurement Period may be adjusted to reflect the actual performance of such property for the entire quarterly period irrespective of the date such property was acquired.
Annualized NOI means (a) for each Real Property or Excluded Property owned by the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) for 12 months or more or any lease under which the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) has been the landlord for such period, Net Operating Income for such Real Property, Excluded Property or lease (as applicable) for the immediately preceding 12 month period; (b) for each Real Property or Excluded Property owned by the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) for a period of less than 12 months or any lease under which the REIT Guarantor and/or its Subsidiaries (including, without limitation, the Excluded Entities) has been the landlord for a period of less than 12 months, Net Operating Income for such Real Property, Excluded Property or lease (as applicable) calculated by annualizing Net Operating Income for such Real Property, Excluded Property or lease since the date of acquisition and adjusting (through appropriate pro-rating, removal, accruals or other correction) for all annual or one-time lump sum payments or expenses with respect to such Real Property, Excluded Property or lease or for any extraordinary income or expense items with respect to such Real Property, Excluded Property or lease.
Annualized NOI means, with respect to any Covered Eligible Bond, as of the date of calculation, the annualized Net Operating Income generated by the Property securing such Covered Eligible Bond, based upon the actual Net Operating Income generated by the subject Property for the previous three (3) consecutive calendar months.