Operating Deficit Loan definition

Operating Deficit Loan means a loan made pursuant to Section 8.09(b).

Operating Deficit Loan means the funds advanced to the Fund by the Development General Partner under the terms of the Cash Flow Deficit Guaranty Agreement. "Operating Partnerships" means the limited partnerships, each of which will own and operate a Facility. "Operating Partnership Interest" means the 98.99% partnership interest of the Fund in an Operating Partnership. "Partner" means any General Partner or Limited Partner. "Partnership Interest Options" means those agreements pursuant to which the Fund will acquire, subject to raising sufficient proceeds of this Offering, Operating Partnership Interests in respect of Facility I and Facility II. "Person" means any individual or Entity. "Preferred Return" means the cumulative, non-compounded annual return equal to 10. 125% of the Adjusted Capital Balance of each Investor commencing on the earlier of (i) the final closing for the sale of Units or (ii) June 30, 1988. At the time of a Sale or Refinancing, if any portion of the Preferred Return of an Investor has not been paid from Net Cash Flow, such unpaid portion will be added to the Investor's priority distribution from the Net Proceeds of Sale or Refinancing, all as more fully set forth in Article IV. "Profit" or "Loss" means, for each fiscal year or other period, an amount equal to the Fund's taxable income or loss for such year or period, with the following adjustments: (i) Any income of the Fund that is exempt from federal income tax shall be added to such taxable income or loss; (ii) Any expenditures of the Fund described in Section 705(a)(2)(B) of the Code, or treated as Section 705(a)(2)(B) of the Code expenditures pursuant to Income Tax Reg. ss.1.704-1(b)(2)(iv)(i), shall be subtracted from such taxable income or loss; and (iii) In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such year or other period for federal income tax purposes shall be taken into account, except that if the fair market value on the date that the asset is contributed to the Fund (or if the basis of such asset for book purposes is adjusted under the Income Tax Regulations, such adjusted book basis) differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period, the depreciation, amortization and other cost recovery deductions taken into account s...

Operating Deficit Loan means any loan or loans made to the Borrower to fund an Operating Deficit (as defined by the Amended and Restated LPA). Any repayments of an Operating Deficit Loan from the Borrower to the General Partner paid from Residual Receipts shall be payable solely out of the Borrower’s retained thirty percent (30%) of the Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) below.

Examples of Operating Deficit Loan in a sentence

• If such amount is not paid in full within twelve (12) months of the date on which the Capital Contribution Installment was due, the General Partner shall make an Operating Deficit Loan to the Partnership.

• This approach, which draws heavily on ideas in the area of quality management, involves employers having an OS&H management system comprising policies, structures and procedures which enable their organisation to ‘lock on’ to its risks and achieve continuous improvement in performance.

• The Asset Management Fee shall be payable from first available Cash Flow; provided, however, that if in any fiscal year commencing with 1997, Cash Flow is insufficient to pay the full amount of the Asset Management Fee, the General Partner is obligated to provide such funds to the Partnership as shall be necessary to pay the full amount of the Asset Management Fee for such fiscal year, as an Operating Deficit Loan pursuant to the provisions of Section 8.09(b) of this Agreement.

• Notwithstanding the foregoing, General Partner shall not be required to make an Operating Deficit Loan to the Partnership to the extent that the outstanding principal amount of Operating Deficits Loans equals or exceeds the Operating Deficit Loan Maximum.

• No use of funds in the Operating Reserve shall constitute the making of an Operating Deficit Loan or be applied against the Operating Deficit Loan Cap.

More Definitions of Operating Deficit Loan

Operating Deficit Loan. Shall have the meaning set forth in Section 4.03 hereof.

Operating Deficit Loan has the meaning set forth in Section 6.9(b) of this Agreement. "Operating Reserve" has the meaning set forth in Section 6.15(a) of this Agreement. "Owner's Title Policy" has the meaning set forth in Section 4.1(d) of this Agreement. "Partner" means any General Partner and any Limited Partner.

Operating Deficit Loan means any loan to the Borrower by the General Partner in an amount equal to the amount of the “Operating Deficit”, as defined in the Amended and Restated LPA, as required pursuant to the Amended and Restated LPA. Any repayments of the Operating Deficit Loan that utilizes Residual Receipts shall be payable solely out of the 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) below.

Operating Deficit Loan means a loan made to a Subsidiary by Operator pursuant to an Operating Deficit Loan Agreement.

Operating Deficit Loan means the funds advanced to the Fund by the Development General Partner under the terms of the Cash Flow Deficit Guaranty Agreement.

Operating Deficit Loan means any loan or loans made to the Partnership pursuant to Section 6.12.

Operating Deficit Loan means, with respect to any Property, a cash advance or loan extended by Parent, an Affiliate thereof or a Third-Party GP, directly or indirectly, to an Operating Partnership, excluding Transferred Debt Interests or Additional Transferred Debt Interests.