Net Operating Expenses definition

Net Operating Expenses means the sum of all Operating Expenses, excluding organization and offering expenses, the Base Management Fee (as defined in the Advisory Agreement), the Incentive Fee (as defined in the Advisory Agreement) and any interest expense attributable to indebtedness incurred by the Fund, as of the applicable period;

Net Operating Expenses means the net amount paid in a financial year in respect of commissions, other acquisition expenses, administrative expenses, reinsurers’ commissions and profit participations;

Net Operating Expenses has the meaning set forth in Section 9.2.

Examples of Net Operating Expenses in a sentence

• Following completion of the Stadium, 49ers Stadium Company will pay to the Stadium Authority, as rent for the Stadium: (i) an amount equal to Five Million Dollars ($5,000,000) per year (“Facility Rent”); plus (ii) all Net Operating Expenses of the Stadium, as more particularly described in Article 9 below.

• In recognition of the fact that 49ers Stadium Company is responsible for payment of Net Operating Expenses, potentially including losses on Non-NFL Events, the Annual Non-NFL Event Plan will be subject to the mutual approval of 49ers Stadium Company and the Stadium Authority.

• For purposes hereof, “Net Operating Expenses” for each year will be the amount, if any, by which Reimbursable Expenses exceed Stadium Operating Revenue; provided, however, that Net Operating Expenses will be reduced by amounts paid out of the reserve for operating expenses, described in clause (c) of Article 15 below.

• For each year during the term of the Stadium Lease, 49ers Stadium Company will, as part of the annual rent payable under the Stadium Lease, reimburse the Stadium Authority for the Net Operating Expenses applicable to such year.

• In the event of an overpayment, Subtenant shall be entitled to offset the excess against the next payment(s) due to Sublandlord on account of Subtenant’s share of Net Operating Expenses or such excess amounts shall be paid by Sublandlord to Subtenant if no further payments of Net Operating Expenses are due.

More Definitions of Net Operating Expenses

Net Operating Expenses means the total costs of operating a community, including taxes and insurance but not including amortization, depreciation or long-term debt service;

Net Operating Expenses means Operating Expenses reduced by an amount equal to revenue from: (i) Client Jurisdictions (ii) Operating Expenses of the Authority reimbursed by the Commonwealth of Virginia; and (iii) all other non-Member revenue.

Net Operating Expenses means, for each Month, the amount by which Operating Expenses for such Month exceed Operating Revenues for such Month.

Net Operating Expenses means Operating Expenses reduced by an amount equal to revenue from

Net Operating Expenses means the Operating Expenses for a year, net of Service Fees collected and any revenue received from sources other than the municipalities (including, for example, fire insurance dues), but excluding the municipalities’ contributions.

Net Operating Expenses shall have the meaning set forth in Section 5.4.

Net Operating Expenses means the excess of (A) all operating expenses of the Business appearing on any approved expenses schedule delivered under Section 4.21 that are paid and incurred by KKI or the LLC subsequent to November 3, 1997 and prior to the Closing, other than (i) principal, interest and other payments on any Debt and (ii) any Liability or obligation of the type reflected on Exhibit 1A.2A over (B) all cash received (excluding proceeds of Receivables existing at November 3, 1997) and Receivables generated by the Business subsequent to November 3, 1997 and prior to the Closing.