Gross Operating Profit definition

Gross Operating Profit. For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

Gross Operating Profit means the actual gross operating profit of the Premises determined generally in accordance with the Uniform System of Accounts, consistently applied and consistent with the determination thereof in the Annual Operating Budget.

Gross Operating Profit means the amount, if any, by which Adjusted Gross Revenues for any calendar year exceed operating costs for such calendar year.

Examples of Gross Operating Profit in a sentence

• The incentive management fee will be equal to 10% of the amount by which Gross Operating Profit of the Hotel (as defined in the relevant management agreement) for a given year exceeds the budgeted Gross Operating Profit for such year; provided, however, that the incentive management fee payable in respect of any such year shall not exceed 0.25% of the Gross Revenues of the Hotel included in such calculation.

• In connection with the development of the Annual Operating Budget, Manager shall propose Gross Revenue, Gross Operating Profit and other operating targets and goals as well as market based goals for occupancy rates, Revpar and average daily room rates utilizing the segmentation categories to be used by Manager to report property-level operating information to Xxxxx Travel Research.

• The calculation of the Incentive Management Fee will begin with the first full Fiscal Year the Hotel is managed pursuant to this Agreement and will include the results of the Fiscal Year in which sold, based upon Gross Operating Profit compared with Budgeted Operating Profit through the date of closing of the sale of the Hotel.

• The incentive management fee (the “Incentive Management Fee”), if any, will be due annually in arrears within 90 days of the end of the Fiscal Year and will be equal to ten percent (10%) of the amount by which the Gross Operating Profit of the Hotel, for a given year exceeds the Budgeted Gross Operating Profit for such year.

More Definitions of Gross Operating Profit

Gross Operating Profit means the amount, if any, by which Total Revenues exceed Operating Expenses.

Gross Operating Profit means Gross Revenues less Operating Expenses.

Gross Operating Profit means the income before non-operating income and expense of the Premises determined in accordance with the Uniform System of Accounts plus rental income received from subleases relating to the Premises (e.g., restaurant and roof top leases) and consistent with the format set forth in Exhibit D.

Gross Operating Profit means, for any Accounting Period, the excess of Total Revenue over all Operating Expenses for such period.

Gross Operating Profit means net revenues less operating expenses, as reflected on the casino licensee's or applicant's Division Statement of Income.

Gross Operating Profit. For each Development, a sum equal to Revenues minus all expenses from operations (excluding depreciation, amortization, management fees, central reservation fees, real, and personal property taxes, leasehold rent paid, property insurance, replacement reserves, Development Fees and debt service) for a Fiscal Year. However, expenses that are directly related to revenues that are excluded from the definition of "Revenues" below (e.g., expenses directly related to food and beverage sales) will also be excluded from the calculation of Gross Operating Profit.

Gross Operating Profit or "GOP" shall mean for any period of time, the amount by which Gross Operating Revenue properly attributable to such period exceeds Operating Expenses for the same period.