Examples of Gross Operating Income in a sentence
Until deposited into the Property Account, any Gross Operating Income and all other moneys paid to or received by Borrower with respect to the use, ownership or operation of the Property shall be deemed to be Collateral and shall be held in trust by it for the benefit, and as the property, of the Lenders and shall not be commingled with any other funds or property of Borrower.
In addition, the Borrower shall provide to Administrative Agent, not later than thirty (30) days prior to the fiscal year end, operating and capital budgets for the Property and Improvements for the next calendar year, which budgets shall show projected Gross Operating Income, Operating Expenses and capital expenditures, each on a monthly basis.
SAMPLE PARTNERSHIP SCHEDULE OF SURPLUS CASH AND ALLOWABLE DISTRIBUTIONS DECEMBER 31, 20XX Part A –Compute Surplus Cash Gross Operating Income 1.
Notwithstanding anything contained herein, for purposes of this Section 8.5, Operating Expenses shall not include (i) management fees that exceed the lesser of (x) actual management fees owed or paid and (y) three percent (3%) of Gross Operating Income from operations of the Property; or (ii) any payments to Borrower Affiliates, excluding management fees payable to Manager under the Management Agreement.
This is Gross Operating Income (Line 12) minus Total Unallocated Operating Expenses (Line 20).