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.
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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 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

  • Basic operating assistance: An agency provides its own transportation and applies for assistance for up to half of the Net Operating Deficit (NOD).

  • 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.

  • This is calculated by subtracting Total Revenue and Subsidies (7.m.) from the Net Operating Deficit (6).

  • 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.

  • Employees promoted to a new job classification will serve a six (6) month probationary period.

  • If POS is treated as revenue, then the transit agency will subtract POS revenues from Total Expenses along with farebox revenues to derive the Net Operating Deficit.

  • Key performance and cost estimates relative to Scenario 4 Hybrid included the following (with approximate dollar figures presented in terms of 2019 dollars and operating estimates representing a stabilized year of operation):• Number of Events = 227• Event Days = 328• Utilization Days = 532• Attendee Days = 390,400• Operating Revenues = $1.8 million• Operating Expenses = $2.1 million• Net Operating Deficit = ($346,000)• Total Project Costs = $75.1 million6.

  • The net impact is to reduce the Net Operating Deficit by $59,921, however there are no impacts to the overall closing position.

  • Lopez, Meyers and Wolfe and Ms. Mades are being required to execute a liquidity maintenance agreement requiring minimum liquid balances of $ 4.5 million in support of the required Construction Completion and Net Operating Deficit Guarantees, of which Messrs.

  • If POS is treated as local match, then the transit agency will subtract only farebox revenue from total expenses to derive the Net Operating Deficit.


More Definitions of Net Operating Deficit

Net Operating Deficit that shall read as follows:
Sample 1
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

Related to Net Operating Deficit

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Accumulated Funding Deficiency has the meaning ascribed to that term in Section 302 of ERISA.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • 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.

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

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

  • Funding Default as defined in Section 2.21.

  • Independent expenditure means an expenditure by a person:

  • Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however that the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2012-1 Liquidity Amount on such date and (b) the Series 2012-1 Required Liquidity Amount on such date.

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”

  • Working Capital Deficit means the amount by which the Net Working Capital is less than the Target Net Working Capital.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Capital Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:

  • ERISA Affiliate Plan means each Employee Benefit Plan sponsored or maintained or required to be sponsored or maintained at any time by any ERISA Affiliate, or to which such ERISA Affiliate makes or has made, or has or has had an obligation to make, contributions at any time, or with respect to which such ERISA Affiliate has any liability or obligation.