Operating Deficit definition

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.

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

Examples of Operating Deficit in a sentence

• In addition, the Borrower covenants and agrees that if the Borrower makes any Operating Deficit Loan repayments to the General Partner, any such payments that utilizes Residual Receipts funds shall be paid solely from Borrower’s retained thirty- eight percent (38%) of the Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) above.

• The PACE Contribution to the PROJECT will be calculated monthly on a year-to- date basis, to ensure that the annual PACE Contribution does not exceed fifty percent (50%) of the Operating Deficit or the pro-rated year to date amount and is not depleted before the end of the term of this Agreement.

• The General Partner shall be permitted to fund additional amounts to the Operating Deficit Account from Project sources.

• The COUNTY Contribution will be calculated monthly on a year-to-date basis to ensure that the annual COUNTY Contribution does not exceed fifty percent (50%) of the Operating Deficit or the pro-rated year to date amount and is not depleted before the end of the term of this Agreement.

• The Administrative General Partner, on behalf of the Partnership, shall establish an Operating Deficit Account in the amount of $354,003 (the “Reserve Minimum”), which shall be funded from the proceeds of the Capital Contribution made pursuant to Section 7.2(e) and other Project sources.

More Definitions of Operating Deficit

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

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 for any relevant period, the excess of Operating Expenses (or a portion thereof) plus the payment of principal and interest due and payable on the Gap Financing Loan over the Borrower’s cash revenues of every kind from the operation of the Project for such fiscal period (excluding loans made to Borrower for payment of an Operating Deficit, extraordinary cash proceeds and capital contributions, and excluding amounts drawn from a reserve account).

Operating Deficit means, with respect to any given period of time, an excess of Expenses over Gross Revenue, determined, subject to this Agreement, in accordance with Generally Accepted Accounting Principles.