Projected Gross Receipts definition
Projected Gross Receipts means, for the period in question, an amount equal to the total gross cash revenues projected for the Company for such period, including (a) the total amount payable by all tenants, licensees, concessionaires and others occupying any portion of the Property including, but not limited to, all rents, pro rata shares of taxes, common area charges and other additional rental charges under Current Leases, less an allowance for uncollectibles of 1.5% of the annual rent under all Current Leases with tenants that do not have an investment grade credit rating; and (b) parking fees, service income, income under the City Agreement, utility and telephone service fees. With respect to the rents projected to be received under Current Leases, (i) all rent allowances and concessions payable to tenants shall be counted as paid, and (ii) the projected rent payable under any Current Lease for any partial year shall be annualized.