Monthly Gross Collections definition

Monthly Gross Collections means, with respect to any Property, the amount of all cash receipts from such Property for each month during the term of this Agreement and shall include (a) rentals collected pursuant to all residential, carport, garage, storage and other leases for such month (or partial month) in effect during the term of this Agreement, (b) security, pet and other deposits forfeited during the term of this Agreement, (c) proceeds from rental interruption insurance, (d) late charges or fees, (e) application and processing fees and forfeited application deposits, (f) proceeds from the rental of washers and dryers, (g) proceeds from vending machines or other concessions or the rental paid to Owner by the supplier of such vending machines or other concessions, (h) gross revenues collected for utilities provided and billed to tenants of the Properties (hereinafter "Residents") which may include, without limitation, water, telephone (inclusive of local, long distance and internet services), electricity, gas and cable TV, (i) any fees charged to any Resident in connection with any redecoration of any unit in a Property or other Resident improvements, and (j) other income which is directly related to management of the Properties, provided, however, it shall not include (I) Owner's capital contributions or working capital advances, nor any interest thereon, (II) the proceeds of any financing or voluntary conversion, sale, exchange, pledging or other disposition or encumbrance of all or any part of the Property, (III) casualty insurance proceeds (other than from loss of rents), (IV) condemnation awards, (V) rental deposits or security and pet deposits received from Residents or other deposits received from Residents or applicants (other than forfeited deposits) (VI) abatement or reduction of taxes, (VII) discounts and dividends on insurance policies, or (VIII) trade discounts and/or rebates received in connection with the operation and maintenance of the Properties and/or purchase of personal property.
Sample 1Sample 2
Monthly Gross Collections means the amount of all cash receipts from the Project and shall include: (a) rentals collected pursuant to all residential, carport, garage and storage leases for each month during the term of this Agreement, (b) security, pet and other deposits forfeited during such period, (c) proceeds from business income or rental interruption insurance or other proceeds effecting a replacement of lost income, (d) interest and income earned on deposited funds, (e) late charges or fees, (f) application and processing fees and forfeited application deposits, (g) proceeds from the rental of or PROPERTY MANAGEMENT AND LEASING AGREEMENT/WABASH APARTMENTS Page 1 payments with respect to washers and dryers, (h) proceeds from vending machines or other concessions or the rental paid to Owner by the supplier of such vending machines or other concessions, (i) periodic proceeds (not up-front cash payments) from service contracts relating to providing telephone, cable, alarm, internet and other communications related devices, (j) non-refundable deposits or fees from residents, (k) service charges on utilities billed by Manager, (l) application and processing fees, (m) proceeds from the sale of used furniture, (n) non-refundable deposits or fees collected from the resident, and (o) other income which is directly related to management of the Project; provided, however, it shall not include (i) Owner's capital contributions or working capital advances, nor any interest thereon, (ii) the proceeds of any financing or voluntary conversion, sale, exchange, pledging or other disposition or encumbrance of all or any part of the Project, (iii) casualty insurance proceeds (other than from loss of rents or similar replacement insurance), (iv) condemnation awards, (v) refundable rental deposits or security and pet deposits received from residents or other deposits received from residents or applicants (other than forfeited deposits), (vi) abatement or reduction of taxes, or (vii) discounts and dividends on insurance policies.
Sample 1
Monthly Gross Collections means (a) all monthly Rental Income, (b) all receipts, determined on a cash basis, from tenant rentals collected pursuant to tenant leases for each month during the term hereof, (c) any rental or security deposits forfeited by tenants and applied to rent charges, and (d) all prepaid rent. Monthly Gross Collections shall not include the following: (i) proceeds from the refinancing of any loan or any voluntary conversion, sale, exchange or other disposition of any Property or any portion thereof, (ii) casualty insurance proceeds (except for any insurance for loss of rental income, as described above), (iii) proceeds of condemnation awards, (iv) any deposits including security, pet, damage or cleaning deposits, and any forfeited rent or security deposits (except to the extent applied to tenant charges), (v) interest on investments or funds received in connection with the operation of the Properties, (vi) amounts received on account of any abatement, reduction, or refund of property taxes, (vii) discounts and dividends on insurance policies, (viii) payments for damages or repairs for which a tenant is responsible (or, for the avoidance of doubt, any amount retained from a tenant security deposit in lieu of payment by tenant), (ix) amounts collected through indemnification provisions or litigation (other than for nonpayment of rent or other charges due under the leases), (x) capital contributions or financing provided to Company, any Owner or their affiliates, (xi) other income not related to Manager’s management of the Properties; (xii) trade discounts and rebates, and (xiii) other items for which Manager is receiving a separate fee, to the extent of the amount received.
Sample 1

Examples of Monthly Gross Collections in a sentence

  • Owner agrees to pay to Manager all of Manager's reimbursable expenses for the preceding month together with a fee (the "MONTHLY MANAGEMENT FEE") computed and payable monthly in arrears in an amount equal to four percent (4%) of the Monthly Gross Collections of the Project.

  • The Monthly Management Fee will be due and payable on or before the tenth (10th) day after Owner's receipt of an invoice from Manager with respect to and showing the amount of Monthly Gross Collections received, if any, during the immediately preceding month.

  • The cost of the Worker's Compensation Insurance shall be deducted from the Monthly Gross Collections as an operating expense and included in the monthly reports.

  • The Property Manager shall provide a fidelity bond, at Owner's expense, for its employees in an amount equal to at least three times the Monthly Gross Collections.

  • The Monthly Management Fee for a given month shall be paid to the Property Manager by the 20th day of the month following the month in which it accrued provided that the Owner shall have received a calculation of the Monthly Gross Collections by the 15th day of such month.

  • If the Monthly Gross Collections are not sufficient to pay all or any portion of the Monthly Management Fee, Owner shall pay the Property Manager the unpaid amount of such Monthly Management Fee within ten (10) days of receipt of the Property Manager's statement therefor.

  • Owner agrees to pay to Property Manager a fee (the "Monthly Management Fee") computed and payable monthly in arrears in an amount equal to one-half percent (0.50%)of Monthly Gross Collections from each Property.

  • Property Manager, on behalf of Owner, shall promptly deposit all Monthly Gross Collections from each Property in a single interest-bearing bank account in Owner's name at a federally-insured banking institution (such account hereinafter referred to as the "Property Account") in a manner to indicate the custodial nature thereof, such account to be the same account as referenced in the Other Agreement as the "Property Account".

  • Property Manager , on behalf of Owner, shall promptly deposit all Monthly Gross Collections from each Property in a single interest-bearing bank account in Owner's name at a federally-insured banking institution (such account hereinafter referred to as the "Property Account") in a manner to indicate the custodial nature thereof, such account to be the same account as referenced in the Other Agreement as the "Property Account".

  • Owner agrees to pay to Property Manager a fee (the "Monthly Management Fee") computed and payable monthly in arrears in an amount equal to three and one-half percent (3.50%)of Monthly Gross Collections from each Property.

Related to Monthly Gross Collections

  • Excess Collections shall have the meaning specified in Section 2.8(a)(xv) of the Indenture.

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Available Collections means, for any Distribution Date, (i) all Obligor payments received with respect to the Receivables during the preceding Collection Period, (ii) all Liquidation Proceeds received with respect to the Receivables during the preceding Collection Period, (iii) all interest earned on funds on deposit in the Collection Account during the preceding Collection Period, (iv) the aggregate Purchase Amount deposited in the Collection Account on the Business Day preceding such Distribution Date, (v) all prepayments received with respect to the Receivables during the preceding Collection Period attributable to any refunded item included in the Amount Financed (including amounts received as a result of rebates of extended service plan contract costs and insurance premiums and proceeds received under physical damage, theft, GAP, credit life and credit disability insurance policies), and (vi) all Simple Interest Advances deposited into the Collection Account by the Servicer on the Business Day preceding such Distribution Date; provided, however, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Purchased Receivable the Purchase Amount for which was included in Available Collections for a previous Distribution Date; provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Receivable to the extent that the Servicer has made an unreimbursed Simple Interest Advance with respect to such Receivable and is entitled to reimbursement from such payments or other amounts pursuant to Section 4.4 of the Sale and Servicing Agreement; and, provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to the Receivables that are retained by the Servicer as reimbursement for Unreimbursed Servicer Advances pursuant to Section 4.4 of the Sale and Servicing Agreement; provided, further, however, that Available Collections for any Distribution Date will exclude any Supplemental Servicing Fees.

  • Collections means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds, and tax refunds).

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Excess Finance Charge Collections means collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables.

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Master Servicer Remittance Amount With respect to each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in the Collection Account (including any amount in any Serviced A/B Loan Combination Custodial Account allocable to the related Serviced Mortgage Loan in the related Serviced A/B Loan Combination) as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a)(I), and (vi) any amounts deposited in the Collection Account in error; provided that the Master Servicer Remittance Amount for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Deemed Collections has the meaning set forth in Section 4.01(d).

  • Monthly P&I means, with respect to any Receivable, the amount of each monthly installment of principal and interest payable with respect to such Receivable in accordance with the terms thereof, exclusive of any charges allocable to the financing of any insurance premium and charges which represent late payment charges or extension fees.

  • Final Collection Date means the date on or following the Termination Date on which the Outstanding Loan Amount has been reduced to zero and all other Borrower Obligations have been paid in full.

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.

  • Principal Collections means Collections of Principal Receivables.

  • Investor Finance Charge Collections means, for any Monthly Period, an amount equal to the aggregate amount of Finance Charge Collections allocated to the Series issued pursuant to this Indenture Supplement pursuant to Section 4.3(a) for all Dates of Processing during such Monthly Period.

  • REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest AA minus the Marker Rate, divided by (b) 12.

  • Available Investor Principal Collections means with respect to any Monthly Period, an amount equal to (a) the Investor Principal Collections for such Monthly Period, minus (b) the amount of Reallocated Collateral Principal Collections and Reallocated Class B Principal Collections with respect to such Monthly Period which pursuant to Section 4.12 are required to fund the Class A Required Amount and the Class B Required Amount, plus (c) the amount of Shared Principal Collections with respect to Group One that are allocated to Series 1999-E in accordance with subsection 4.13(b).

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments Inc., Bear Stearns ARM Trust, Mortgage Pass- Thrxxxx Xxrtificates, Series 2003-1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.