Borrowing Base Adjusted NOI definition

Borrowing Base Adjusted NOI means, for any Reference Period, the Adjusted NOI of all Borrowing Base Properties for such Reference Period.
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Borrowing Base Adjusted NOI means aggregate Adjusted NOI for all Borrowing Base Assets.
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Borrowing Base Adjusted NOI means, with respect to an Eligible Hotel, at any date, the Adjusted NOI for such Eligible Hotel for the preceding four (4) Fiscal Quarters.
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Examples of Borrowing Base Adjusted NOI in a sentence

  • The maximum principal amount which would not cause the ratio of (i) Borrowing Base Adjusted NOI divided by (ii) the Implied Debt Service to be less than 1.30 to 1.00.


More Definitions of Borrowing Base Adjusted NOI

Borrowing Base Adjusted NOI. As defined in the Draft Credit Agreement.
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Borrowing Base Adjusted NOI means, for any period, the Adjusted Net Operating Income for all Collateral Properties during such period.
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Related to Borrowing Base Adjusted NOI

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Adjusted NOI means, with respect to any Property for the Current Reporting Quarter, annualized, an amount equal to (a) the aggregate gross revenues (excluding non-cash revenues) from the operations of such Property during such period, minus (b) the sum of (i) all expenses and other proper charges incurred in connection with the operation of such Property during such period (including real estate taxes, but excluding any property and asset management fees, debt service charges, income taxes, depreciation, amortization and other non-cash expenses and excluding capital expenditures), (ii) a management fee equal to the greater of (A) two percent (2%) of the aggregate gross base rental revenues (excluding non-cash revenues) from the operations of such Property during such period and (B) actual property management fees paid, and (iii) a replacement reserve of $0.10 per square foot (excluding any Property acquired during the Current Reporting Quarter). Adjusted NOI shall exclude the amount of any revenues and expenses from any Dark Property. Adjusted NOI shall be increased, without duplication, by (i) annualized rental revenues (excluding non-cash revenues), net of associated expenses, from any new lease which went into effect with the tenant taking occupancy (or any lease with respect to any Property acquired during the Current Reporting Quarter) and the Borrower is recognizing revenue from such tenant in accordance with GAAP during such Current Reporting Quarter, and (ii) annualized gross base rental revenues (excluding non-cash revenues) for the first monthly gross base rental payment for any lease in a free rent period and the Borrower is recognizing revenue from the applicable tenant in accordance with GAAP during such Current Reporting Quarter.

  • Borrowing Base means, as of any date of determination, the result of:

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.