Net Operating Proceeds definition

Net Operating Proceeds means, as of any date of determination, without duplication, cash funds of the Company then on hand from whatever source (other than Project Entity Capital Transaction Proceeds or Capital Contributions), less (a) all current liabilities of the Company, and (b) working capital and other amounts that the Manager deems necessary (in its sole discretion) for the operation of the business of the Company, including amounts that the Manager deems necessary to place into reserves for either customary and usual claims with respect to the business of the Company, or for any extraordinary purposes which may arise from time to time.
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Net Operating Proceeds means, with respect to any period, the positive difference, if any, between (x) the gross receipts received with respect to such period from the sale of electricity generated by the Wind Power Project and all amounts received in lieu of receipts from the sale of electricity and (y) all payments incurred and relating to such period by ZWP 85-A in respect to the operation, management, maintenance and repair of the Wind Power Project (other than payments due with respect to this Agreement).
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Net Operating Proceeds means, with respect to each Participating Site in each Reporting Year, all Operating Proceeds received by the Site Owner during such Reporting Yearless the amount of such Operating Proceeds actually applied to: (i) repay any principal in respect of any indebtedness incurred by the Site Owner, pay any Qualified Interest owed thereon during such Reporting Year and pay all other amounts (including any contingent interest or so-called "kicker" payments) reasonably owed by the Site Owner, on account of such indebtedness, out of such Operating Proceeds; (ii) pay for normal, customary or otherwise reasonable operating or capital expenses paid by the Site Owner in connection with the Participating Site during the Reporting Year (including all taxes, utility charges, fees and insurance); and (iii) fund reasonable reserves for any normal, customary or otherwise reasonable purpose in connection with the Participating Site as reasonably determined by the Site Owner of the Participating Site.
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Examples of Net Operating Proceeds in a sentence

  • In addition, each Member hereby agrees and acknowledges that no distributions of Available Cash pursuant to Section 4.4 on account of Net Operating Proceeds are likely during approximately the first approximately three Fiscal Years after the acquisition of the Leasehold Interest in the Property (it being understood and acknowledged that no distributions of Available Cash are guaranteed at such time, or at any time).

  • As compensation for the rights granted to ZWP ------------ 85-B under this Agreement with respect to the Power Purchase Agreements, ZWP 85-B agrees to pay to EWS an amount (each a "Royalty Payment") equal to 45% of the Net Operating Proceeds attributable to the period commencing on February 15, 2006 and ending on the last day that ZWP 85-B delivers power to SCE under the Power Purchase Agreement.

  • As compensation for the rights granted to ZWP 85-A ------------ under this Agreement with respect to the Power Purchase Agreements, ZWP 85-A agrees to pay to EWS an amount (each a "Royalty Payment") equal to 45% of the Net Operating Proceeds attributable to the period commencing on February 15, 2006 and ending on the last day that ZWP 85-A delivers power to SCE under the Power Purchase Agreement.

  • Net Operating Proceeds shall equal the Gross Proceeds from Bitcoin Mining minus all the costs and expenses related to Bitcoin Mining.

  • The Employee shall be entitled to Bonuses on a monthly basis which is to be calculated as follows: 20% of the Net Operating Proceeds (as defined below) of the Company’s Bitcoin Mining Division.

  • Section 4 of the Wind Park Easement is hereby amended to delete the phrase "5% of Gross Operating Proceeds" occurring in clause (a) of the first paragraph thereof and to replace such phrase in its entirety with the phrase "(1) through December 31, 2005, 5% of the calendar year Gross Operating Proceeds and (2) after December 31, 2005, 55% of Net Operating Proceeds".


More Definitions of Net Operating Proceeds

Net Operating Proceeds means the Gross Rental Revenues realized from the Property, less the following expenses with respect to the Property:
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