Operating Deficit definition

Operating Deficit means that, at the end of the fiscal year, the unassigned fund balance in the General Fund is less than zero.

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.

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

Examples of Operating Deficit in a sentence

• After expiration of the Operating Deficit Guarantee Period, with the Consent of the Special Limited Partner, the General Partner may loan to the Partnership any sums required by the Partnership and not otherwise reasonably available to it.

• For the balance of the Operating Deficit Guarantee Period the General Partner will immediately provide Operating Loans to pay any Operating Deficits.

• Reimbursements to the General Partner, or any of its Affiliates, by the Partnership shall be allowed only for the Partnership's Cash Expenses unless the General Partner is obligated to pay the same as an Operating Deficit during the Operating Deficit Guarantee Period, and subject to the limitations on the reimbursement of such expenses set forth herein.

• If the Management Agent is an Affiliate of the General Partner then commencing with the termination of the Operating Deficit Guarantee Period, in any year in which the Apartment Housing has an Operating Deficit, 40% of the management fee will be deferred ("Deferred Management Fee").

• Examples of reserves which can be considered part of the operating deficit reserve for this calculation are provided in the Operating Deficit Reserve portion of the Funding section in the RFA.

More Definitions of Operating Deficit

Operating Deficit means at any time when the Partnership does not have Net Operating Income as determined by the Accountant and approved by the Special Limited Partner.

Operating Deficit means the amount by which the total operating expenses incurred in the operation of an urban mass transit system exceeds the amount of operating revenue derived therefrom.

Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed the sum of Cash Receipts and any amount in the Rent-Up Reserve, as determined by the Accountant and approved by the Special Limited Partner.

Operating Deficit means, for any specified period of time, the amount by which the Cash Receipts of the Partnership are less than the amount necessary to pay all Cash Expenditures of the Partnership.

Operating Deficit means the shortfall of revenue compared to expenses as dictated by the approved Operating Budget, Support Services Budget and/or approved by BC Housing.

Operating Deficit means the amount by which the aggregate operating costs of the programs exceeds the aggre- gated receipts and revenue directly generated by the pro- grams in the fiscal year, plus any transfers of reserves that were originally generated directly by the athletic department account.

Operating Deficit means the amount by which the total operating expenses incurred in the operation of a mass transit sys- tem exceeds the amount of operating revenues derived therefrom.