Net Operating Income or NOI. As defined in and determined in accordance with the provisions of Exhibit E attached hereto.
Net Operating Income or NOI. The difference between (i) the Gross Revenues for the applicable period, less (ii) the Operating Expenses for such period.
Net Operating Income or NOI. With respect to any Mortgaged Property, for any twelve-month period, the total operating revenues derived from such Mortgaged Property during such period, minus the total operating expenses incurred in respect of such Mortgaged Property during such period, other than (i) non-cash items such as depreciation, (ii) amortization, (iii) actual capital expenditures and (iv) debt service on the related Mortgage Loan.
Examples of Net Operating Income or NOI in a sentence
Lenders like property improvements that immediately increase a borrower’s Net Operating Income, or NOI, a key concept in commercial real estate.
Lenders like property improvements that immediately increase a borrower’s Net Operating Income, or NOI, a key concept in 22 Another reason the mortgage lending community perceives risk may stem from a Moody’s announcement that asserted PACE poses a hazard to the credit quality of CMBS bonds, which represent long-term holding facilities for commercial real estate mortgages.commercial real estate.
As expected, growth in real estate taxes, insurance expenses, and marketing costs drove the majority of the increase.• Net Operating Income, or NOI, from the Same Store Portfolio decreased 1.1% during the third quarter of 2020 as compared to the same period in the prior year.• Resident turnover continued to decline and remained low as resident move outs for the Same Store Portfolio for the third quarter of 2020 was 45.9% on a rolling twelve month basis.
With respect to any ownership of a Property by a Joint Venture, Actual Debt Service, Consolidated Adjusted EBITDA, Consolidated Interest Expense, Consolidated Net Income, Net Operating Income or NOI, Capital Expenditures and Total Assets of such Joint Venture shall be calculated in accordance with such member of the Consolidated Group’s percentage ownership interest in such Person.
More Definitions of Net Operating Income or NOI
Net Operating Income or NOI means, with respect to any Apartment Community for the most recent two calendar quarters, "actual property rental and other income" (as determined by GAAP) attributable to such Apartment Community accruing for such period, minus the amount of all expenses (as determined in accordance with GAAP) incurred in connection with and directly attributable to the ownership and operations of such Apartment Community for such period, including, without limitation, Management Fees and amounts accrued for the payment of real estate taxes and insurance premiums, but excluding interest expense or other debt service charges and any non-cash charges such as depreciation or amortization of financing costs. In calculating NOI attributable to any Apartment Community first acquired or opened by either Borrower during a quarter, "actual property rental and other income" and expenses shall be adjusted for the purposes of this definition to reflect the full amount of "actual property rental and other income" and expenses that would have been attributable to such Apartment Community if it had been owned or opened for the full quarter.
Net Operating Income or NOI means, with respect to any Apartment Community for the most recent two calendar quarters, “actual property rental and other income” (as determined by GAAP) attributable to such Apartment Community accruing for such period, minus the amount of all expenses (as determined in accordance with GAAP) incurred in connection with and directly attributable to the ownership and operations of such Apartment Community for such period, including, without limitation, Management Fees and amounts accrued for the payment of real estate taxes and insurance premiums, but excluding interest expense or other debt service charges and any non-cash charges such as depreciation or amortization of financing costs; provided, however, with respect to any Apartment Community acquired by a Borrower or a Subsidiary during a particular calendar quarter, the Adjusted NOI for such Apartment Community shall be either (a) annualized, based on the number of days in such quarter the Apartment Community was owned by a Borrower or a Subsidiary, or, at the Administrative Agent’s option, in its discretion, (b) the Adjusted NOI for the quarter immediately preceding the time of determination, regardless of the ownership of such Apartment Community.
Net Operating Income or NOI means, for any Property and for a given period, the sum of the following (without duplication): (a) rents and other revenues received in the ordinary course from such Property (excluding pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants’ obligations for rent) minus (b) all expenses paid or accrued related to the ownership, operation or maintenance of such Property, including but not limited to taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Property, but specifically excluding general overhead expenses of the Borrower or any Subsidiary and any property management fees) minus (c) the Capital Improvement Reserve for such Property as of the end of such period minus (d) the greater of (i) the actual property management fee paid during such period and (ii) an imputed management fee in the amount of three percent (3.0%) of the gross revenues for such Property for such period. The NOI shall include such Person’s pro rata share of NOI of its Unconsolidated Affiliates. The NOI will also be adjusted to remove any impact from straight line rents or from amortization of intangibles pursuant FAS 141.
Net Operating Income or NOI. For any applicable period, with respect to any Person, all Gross Revenues based upon the most current operating statements then in Lender’s possession less all Operating Expenses incurred by such Person for such period (as reasonably approved by Lender) in connection with its ownership and operation of their properties and assets, including, without limitation, real estate taxes and insurance premiums. Northridge Borrowers: Collectively, Northridge PropCo and Northridge Tenant.
Net Operating Income or NOI means, with respect to any appropriate period and any Properties, the gross revenues from such Properties for such period less all direct operating expenses of such Properties, including, without limitation, expenses for the following to the extent same relate to such Properties: personnel, landscaping, contracts, utilities, housekeeping, repairs and maintenance, marketing, administrative duties, insurance and real estate taxes for such period (other than interest expense, depreciation, amortization and expenditures capitalized in accordance with GAAP).
Net Operating Income or NOI. The sum of (i) Affiliate Operator Project NOI plus (ii) the lesser of (a) the Mesa Vista Operational NOI, and (b) the Mesa Vista Lease NOI.
Net Operating Income or NOI. As "Net Operating Income" is defined in each Mortgage.