Operating Deficits definition

Operating Deficits means, for any specified period, the greater of 0 or the following: (A) the interest payments, accruals and periodic charges and expenses on the Construction Loan for such period to the extent each of the foregoing exceeds the amount available for such item under the Construction Loan; plus (B) the aggregate Operating Expenses for such period of time; minus

Operating Deficits means the amount by which the sum of the expenditures and costs incurred by the Company in the operation of the Project (including, without limitation, current debt service and deferred maintenance obligations (other than deferred maintenance obligations of a capital nature) in the year in which the cash expense corresponding to such deferred maintenance obligations is paid) exceeds the cash receipts generated from the ordinary day-to-day operations of the business of the Company from all sources available to the Company without deduction of depreciation, cost recovery, and other non-cash charges.

Operating Deficits means any excess of Operating Expenses (as defined below) over Operating Income (as defined below).

Examples of Operating Deficits in a sentence

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

• Any payment by the General Partner pursuant to this section shall be in addition to the General Partner's obligation to fund Operating Deficits.

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

• From the date the first apartment unit in the Apartment Housing is available for its intended use until three consecutive months of Break-even Operations, the General Partner will immediately provide to the Partnership the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns.

• From the date of this Agreement until three consecutive months of Break-even Operations, the General Partner will provide the necessary funds to pay Operating Deficits, which funds shall not be repayable, shall not change the Interest of any Partner and shall be considered a guaranteed payment to the Partnership for cost overruns.

More Definitions of Operating Deficits

Operating Deficits means the amount by which the sum of:

Operating Deficits. For any period, any shortfall in the Operating Revenues over the Operating Expenses.

Operating Deficits means the excess of Approved Operating Expenses over Operating Income during any applicable period.

Operating Deficits means, for any specified period beginning no earlier than (i) six (6) months after the earlier of Substantial Completion of the multifamily units on Xxx 0X, Xxxxxxxxx Ranch Filing No. 126-A First Amendment ("Phase I"), or (ii) Phase I being 85% leased, the greater of 0 or the following: (A) the interest payments, accruals and periodic charges and expenses on the Construction Loan for such period; plus (B) the aggregate Operating Expenses for such period of time; minus (c) Gross Operating Revenue for such period of time.

Operating Deficits means community expenses (including any debt service) of a pre-stabilized and/or newly constructed community owned and/or operated by a Subsidiary to the extent they exceed the operating revenues at such community.

Operating Deficits has the meaning set forth in the Operating Deficit Guaranty. "Operating Deficits Guaranty" shall mean the Operating Deficits Guaranty, dated as of December 1, 2017, from the Authority Guarantors, jointly and severally, in favor of the Governmental Lender.

Operating Deficits means the excess of Operating Expenses over Operating Income with respect to the Project calculated on a monthly basis.