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.

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

• This will be determined by a ratio of Effective Gross Income to Total Annual Expenses (including reserve for replacement).

• All developments with debt must meet DCA’s debt coverage ratio requirement and have a minimum Effective Gross Income to Total Annual Expenses (including reserve for replacement) ratio of 1.10 for new construction and 1.15 for developments involving rehabilitation.

• If hard-debt is scheduled to be repaid prior to the end of the Compliance Period, the years remaining in the Compliance Period where there is no debt repayment are subject to the Effective Gross Income to Total Annual Expense minimum ratios.

• This will be determined by a ratio of Effective Gross Income to Total Annual Expenses (including Replacement Reserves).

• This will be determined by an expense ratio of Effective Gross Income to Total Annual Expenses (including replacement reserve contributions).

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

Effective Gross Income means the result obtained when a three percent (3%) vacancy factor is applied to the Gross Income for each applicable Tenant (other than Discount Drug Mart and national credit tenants) that has taken occupancy and commenced the ordinary conduct of business and the regularly scheduled payments of rent in the Development Property.

Effective Gross Income means the total of the gross rents paid under the Leases, together with any other revenues generated from any other contract, licence, easement or right of occupancy in relation to the Properties;

Effective Gross Income means (i) the actual gross rental income of the Property, supported by a rent roll in form and substance acceptable to Bondowner Representative in its reasonable discretion, plus (ii) other income from the Property, supported by evidence of such income acceptable to Bondowner Representative in its reasonable discretion, minus (iii) if the Property is leased beyond the underwritten stabilized occupancy, an amount representing a five percent (5.00%) vacancy factor.

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