Effective Gross Income definition

Effective Gross Income means the positive annualized amount of the Gross Potential Rent, net of the Concessions, subject to the Vacancy Rate, minus Bad Debt, plus the Acceptable Other Income.

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Effective Gross Income means the sum of (a) total monthly base rent payable, as of the applicable date of determination and at the Net Effective Rental Rate, by tenants under Approved Leases multiplied by twelve (12), excluding security or other deposits, late fees, lease termination or other similar charges, delinquent rent recoveries, unless previously reflected in reserves, or any other items of a non-recurring nature; plus (b) monthly expense reimbursements payable by such tenants multiplied by twelve (12).

Effective Gross Income means the sum of items (a) and (b) in the definition of Net Operating Income.

Examples of Effective Gross Income in a sentence

During the term of this Agreement, Manager shall be entitled to receive, as compensation for services performed by Manager pursuant to this Agreement during each operating month, an amount equal to three percent (3%) of the Effective Gross Income for such operating month (the "Management Fee"), payable in arrears on the first day of each month.
For purposes of this Section 5.25(e), the calculation of DCR will be based on a 30-year amortization schedule and will use a net operating income equal to the positive, annualized amount by which Effective Gross Income exceeds Expenses, as determined by Lender in its sole discretion.
Effective Gross Income shall not include : (i) the value of rental concessions, (ii) any rent accruing during such operating month but not actually paid by a tenant during such operating month or not actually collected by Manager or otherwise on behalf of Owner during such operating, month; (iii) rent in the nature of any reimbursements for damage to the Property; (iv) any rental income taxes; or (v) any security, utility or other deposits.
Notwithstanding the foregoing, no Rent shall be deposited into the Supplemental Reserve Account unless and until Tenant deposits the Developer’s Share of Residual Receipts attributable to the Effective Gross Income generated from the Retail Revenues to capitalize the Supplemental Reserve Account.
Effective Gross Income shall also include corporate apartment income and application fees, net of related expenses for these items.

More Definitions of Effective Gross Income

Effective Gross Income means all collected rental income from all Properties, plus other reoccurring Property income.

Effective Gross Income means gross potential rent (including proceeds of rent loss insurance), due but unpaid rental subsidy and other income collected from the residential units at the Project, less a vacancy rate. For restricted units, the Servicer will underwrite gross potential rent at the lower of restricted (other than for units receiving project-based operating subsidy), actual or market rent levels. Unrestricted units will be underwritten at the lower of market or actual rent levels. Gross potential rent will be reduced by any current, existing or future tenant rent concessions. Other income shall be on a reoccurring or stabilized basis including income collected from garbage, parking, laundry, telephone, cable, or data provider fees, clubhouse revenues, pet and late fees, as determined by the Servicer in its discretion. Other income shall not include interest income, commercial income, tenant deposits and other non-residential related income.

Effective Gross Income means, for all Facilities, the Effective Gross Income as reflected on the operating statement, prepared and provided monthly by the Sellers.

Effective Gross Income. ’ or ‘‘EGI’’ means, with respect to any Mortgaged Property or group of related Mortgaged Properties, Total Revenues (including base rents, percentage rents, recoveries and other recurring income generated by such Mortgaged Property or Mortgaged Properties, net of vacancy and credit losses).

Effective Gross Income shall have the meaning set forth in the definition of the term “Lockbox Trigger Event”.

Effective Gross Income. Not Available EXPENSES: Not Available

Effective Gross Income shall have the same meaning as “Revenue” in the Loan Note (Attachment 8B of the DDA).