Budgeted GOP definition

Budgeted GOP means the Gross Operating Profit as set forth in the Annual Operating Budget for the applicable Fiscal Year, as approved by Lessee and Manager pursuant to Article X hereof.
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Budgeted GOP means the Gross Operating Profit as set forth in the Annual Operating Budget for the applicable Fiscal Year pursuant to Article X hereof.
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Budgeted GOP means, for each Calendar Year, the projected Gross Operating Profit of the Hotel for such Calendar Year as set forth in the applicable Budget for the Hotel.
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Examples of Budgeted GOP in a sentence

  • In the event Owner has the right to terminate with respect to a calendar year but waives such right, Owner's right to terminate shall carry forward and shall be applicable to the next succeeding calendar year if Manager fails to achieve eighty-five percent (85%) of Budgeted GOP for the next succeeding year, subject to Manager's right to cure for such calendar year.

  • The incentive fee (the “Incentive Fee”) shall be equal to the lesser of (i) one percent (1%) of Gross Revenues for each Fiscal Year and (ii) the amount by which the actual Gross Operating Profit exceeds the Budgeted GOP determined on a property by property basis (“GOP Test”).

  • In the event Owner has the right to terminate with respect to a calendar year but waives such right, Owner's right to terminate shall carry forward and shall be applicable to the next succeeding calendar year if Manager fails to achieve eighty-five percent (85%) of the Budgeted GOP and Competitive Set tests for the next succeeding year, subject to Manager's right to cure for such calendar year.

  • Notwithstanding such Fund Up Cure of the second calendar year, if there is a failure to reach eighty percent (80%) of Budgeted GOP in a third consecutive calendar year, no Fund Up Cure shall be available.

  • In the event Lessee has the right to terminate with respect to a calendar year but waives such right, Lessee's right to terminate shall carry forward and shall be applicable to the next succeeding calendar year if Manager fails to achieve eighty percent (80%) of Budgeted GOP for the next succeeding year.

  • The incentive fee (the "INCENTIVE FEE") shall be equal to the lesser of (i) one percent (1%) of Gross Revenues for each Fiscal Year and (ii) the amount by which the actual Gross Operating Profit exceeds the Budgeted GOP determined on a property by property basis ("GOP TEST").