Projected Operating Expenses definition

Projected Operating Expenses means, for the period in question, an amount equal to the sum of all cash operating expenses projected to be expended by the Company for such period including, without limitation, for (a) utilities, (b) maintenance and repairs, (c) administrative costs (excluding the UST Administrative Fee and administrative costs not associated with the operation of the Property, such as Company accounting and tax preparation fees), (d) management fees, (e) cleaning, (f) security, (g) insurance and (h) real estate taxes, personal property taxes and sales taxes. Project Expenses shall be calculated without any deductions for debt service (including interest), depreciation, amortization or other non-cash expenses and any capitalized expenditure (as determined in accordance with generally accepted accounting principles).

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Projected Operating Expenses means the anticipated operating expenses of the Borrower for the applicable year as shown in the relevant Project Budget Statement.

Projected Operating Expenses means the amount of Operating Expenses projected to be incurred in each financial year as set out in the Transaction Documents.

Examples of Projected Operating Expenses in a sentence

Tenant shall pay to Landlord, monthly in advance as additional Rent, one-twelfth (1/12) of the Projected Operating Expenses.
If the actual Operating Expenses are less than the Projected Operating Expenses, then Tenant shall receive a credit against future Operating Expenses payments equal to the difference; provided, that in the case of an overpayment for the final lease year of the Term, Landlord shall credit the difference against any sums due from Tenant to Landlord in accordance with the terms of this Lease; and if no sums are due and unpaid, shall promptly refund the amount to Tenant.
If the actual Operating Expenses are more than the Projected Operating Expenses then Tenant shall pay Landlord, within ten (10) days of receipt of a ▇▇▇▇ therefor, the difference.
If the actual Operating Expenses are less than the Projected Operating Expenses, then Tenant shall receive a credit against future Operating Expenses payments equal to the difference; provided, that in the case of an overpayment for the final lease year of the Term, Landlord shall credit the difference against any sums due from Tenant to Landlord in accordance with the terms of this Lease; and if no sums are due and unpaid, shall promptly refund the net amount to Tenant.
Landlord reserves the right, at Landlord's option, to estimate the annual cost of Operating Expenses performed by Landlord ("Projected Operating Expenses") and to require same to be paid in advance.

More Definitions of Projected Operating Expenses

Projected Operating Expenses means the anticipated Operating Expenses of the Borrower for the applicable year, such costs to be reviewed and agreed annually between the Borrower and the Facility Agent (acting on the instructions of the Majority Lenders) in accordance with clause 24.5(a) (Agreement of Projected Operating

Projected Operating Expenses means the reasonably estimated operating Expenses for the current Operation Year. The Projected Operating Expenses shall be computed by Landlord or Landlord's managing agent based upon known conditions for the current Operation Year.

Projected Operating Expenses means the projected operating expenses per annum set forth in the Appraisal dated [ ] approved by Bondowner Representative as a condition to the issuance of the Bonds (increased on an annual basis beginning on the first anniversary of the Conversion Date, by [ ]%), plus actual costs of utilities, insurance and Impositions (provided Impositions constituting real property taxes are based on the full assessed value of the Project following completion of construction and equipping of the Improvements as contemplated by this Loan Agreement and provided further that if the actual amount of real property taxes reflects a full or partial abatement or exemption, such abatement or exemption shall have been approved by Servicer), plus all required deposits into the Replacement Reserve Fund and Operating Reserve Fund.

Projected Operating Expenses means the Landlord's estimate (which in any event must be reasonable in the light of past experience) of Operating Expenses for a particular Subsequent Year.

Projected Operating Expenses means $834,504.00 per annum (increased on an annual basis beginning _______________ 1, 20___, by 3.5%), [plus actual costs of utilities, insurance and Impositions (provided Impositions constituting real property taxes are based on the full assessed value of the Project following completion of rehabilitation and equipping of the Improvements as contemplated by this Loan Agreement and provided further that if the actual amount of real property taxes reflects a full or partial abatement or exemption, such abatement or exemption shall have been approved by Bondowner Representative), plus all required deposits into the Replacement Reserve Fund [and Operating Reserve Fund].

Projected Operating Expenses means $ per annum (increased on an annual basis beginning 1, 20 , by %), [plus actual costs of utilities, insurance and Impositions (provided Impositions constituting real property taxes are based on the full assessed value of the Project following completion of [construction] [rehabilitation] and equipping of the Improvements as contemplated by this Loan Agreement and provided further that if the actual amount of real property taxes reflects a full or partial abatement or exemption, such abatement or exemption shall have been approved by Servicer), plus all required deposits into the Replacement Reserve Fund [and Operating Reserve Fund].

Projected Operating Expenses for any Property, means all costs and expenses projected to be incurred by the applicable Property Owning Entity in connection with the operation, maintenance and management of such Property for the period in question, including costs and expenses for utilities, repairs and maintenance, property taxes and assessments, insurance premiums, and rent under any ground, master or other underlying lease; provided, however, that the term “Projected Operating Expenses” does not include (i) any such costs or expenses that are to be paid directly by any tenants of such Property to third parties or reimbursed to the applicable Property Owning Entity by such tenants, (ii) Capital Expenditures, or (iii) depreciation, amortization, non-cash or non-recurring expenses; provided further, however, that, with respect to any period in which the Quantum Percentage Ownership Interest for a Quantum Property is less than 100%, the “Projected Operating Expenses” for such Quantum Property for such period shall mean only the applicable Quantum Percentage Ownership Interest of the foregoing projected costs and expenses with respect to such Quantum Property for such period.