Examples of Operating Revenues in a sentence
The Lessee shall adopt an Annual Budget prior to the beginning of each Fiscal Year which demonstrates a Debt Service Coverage Ratio with respect to the Series A Bonds, and any Completion Bonds, Additional Bonds and Refunding Bonds if and when issued, of 1.25 for the next Fiscal Year, and Total Operating Revenues at least equal to Annual Operating Expenses.
Within one hundred twenty (120) days after the end of each calendar year, Borrower shall furnish to Agent a current (as of the end of such calendar year) balance sheet and a detailed operating statement stating Operating Revenues, Operating Expenses and Net Operating Income for Borrower.
Within one hundred twenty (120) days after the end of each calendar year, Borrower shall cause Guarantor to furnish to Agent a current (as of the end of such calendar year) balance sheet and a detailed operating statement stating Operating Revenues, Operating Expenses and Net Operating Income for Guarantor.
In all events, the Lessee shall adopt an Annual Budget for each Fiscal Year which provides a Debt Service Coverage Ratio in relation to the Series A Bonds, Completion Bonds, Additional Bonds and Refunding Bonds of 1.25 plus Total Operating Revenues equal to not less than 100% of anticipated and budgeted Annual Operating Expenses.
Without Agent’s reasonable prior approval, no management fee payable to a property manager may exceed three percent (3%) of Operating Revenues.