Net Operating Deficit definition

Net Operating Deficit means the Eligible Operating Expenses of the Project minus farebox revenues, as determined by the method prescribed in the Contractor's approved Project Application and verified by an annual report certified by the chief financial officer of the Contractor or the Federal Single Audit of the Project.
Sample 1Sample 2
Net Operating Deficit means Net Income (or Deficit), not including interest income and expense, extraordinary items and non-recurring charges or write-offs related to the EFTC Services Disposition and the closing of Borrower's Ft. Lauderdale, Florida manufacturing facility, determined in accordance with the accounting rules and assumptions employed in the attached income statement.
Sample 1
Net Operating Deficit means and refer to the amount by which the ordinary and necessary expenses, including debt service, incurred in connection with the operation of the Improvements during the period prior to the Commencement Date exceeds the gross revenues actually received from the operation of the Improvements during such period (if any). Landlord shall be responsible for, and Costs shall not include, any increase in Net Operating Deficit due to a failure of Tenant to occupy the Premises as a result of Landlord’s failure to achieve Substantial Completion by the Target Date other than as a result of Tenant Delays and Force Majeure.
Sample 1

Examples of Net Operating Deficit in a sentence

  • The State shall pay to the Contractor the Federal Share of the Eligible Operating Expenses of the Project as described in Schedule A and the approved Project Applications, subject to the terms and conditions of this Agreement, including verification of the Projects eligible Operating Expenses, operating and other revenues, Net Operating Deficit and Unfunded Deficit by the certified Annual Report and, if applicable, the Federal Single Audit required by Articles 13 and 14 of this Agreement.

  • The amount of the Federal Share shall be estimated and determined by the method prescribed in the Contractor's approved annual Project Application and shall not exceed either the Unfunded Deficit or fifty percent (50%) of the Net Operating Deficit.

  • The Borrower will not permit Consolidated Net Deficit or Consolidated Net Operating Deficit for any fiscal quarter of the Borrower to be greater than five percent (5%) of Consolidated Tangible Net Worth as of the end of the fiscal quarter immediately preceding the relevant date of determination.

  • FINANCIAL AND BUDGET IMPLICATIONS The ‘in-principle’ adoption of the Draft 2021-2022 Budget, as presented (based on a 4.35% Rate Revenue increase inclusive of valuation growth 1.95%), will result in an Operating Surplus of $425,000 (2020-2021: Net Operating Deficit of $798,000) and a Net Surplus (after Capital Income) of $4.641 million (2020-2021:$1.074 million).

  • He stated revenue is favorable by $12.3M, expenses are unfavorable by $12.5M, putting the Net Operating Deficit favorable by $24.9M.

  • All policies of insurance shall provide for a 30-day written minimum cancellation notice to the Lessor, and in the event of such cancellation and failure on the part of the Lessee to provide substitute policies satisfactory to the Lessor, the Lessor may at its option provide such insurance and add the amount of the premium to the next rental installment.

  • Upon receipt of a Notice of Net Operating Deficit, each Member and its representatives will be entitled to access and to receive copies of audited financial data and other certified supporting schedules and information substantiating the Net Operating Deficit.

  • Each Member shall contribute its pro rata share of the Net Operating Deficit to Xxxxx within one hundred and eighty (180) days of receipt of a Notice of Net Operating Deficit.

  • Manager must achieve a Net Operating Deficit that is equal to or less than the Net Operating Deficit Benchmark (or, if applicable, a Net Operating Surplus that is equal to or greater than the Net Operating Surplus Benchmark) for the applicable Fiscal Year to qualify for the Financial Incentive Fee.

  • Performance of Statutory Authorities and Government Companies Statutory Authorities and Government Companies are forecast to have a Net Operating Deficit of $14.3 million for 2018.


More Definitions of Net Operating Deficit

Net Operating Deficit means expenses incurred in operating the Project less fares, donations, and advertising revenue, as specified in FTA C 9040.1C.
Sample 1
Net Operating Deficit that shall read as follows:
Sample 1
Net Operating Deficit means the Operating Expenses (before Depreciation and Amortisation) exceeding the Operating Income for any Financial Year;
Sample 1

Related to Net Operating Deficit

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.

  • Reporting Default means a Default described in Section 6.01(d).

  • Independent expenditure means an expenditure by a person:

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.