Projected Operating Income Available for Debt Service definition

Projected Operating Income Available for Debt Service means projected gross annual rent from the Approved Leases for the first full fiscal year following completion of the restoration of the Property less:
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Projected Operating Income Available for Debt Service means projected gross annual rent from the Approved Leases at the applicable Project or at the entire Property, as the case may be, for the first full fiscal year following completion of the restoration of the Property less:
Sample 1
Projected Operating Income Available for Debt Service means projected gross annual rent from the Approved Leases at the applicable Project(s) or at the entire Property, as the case may be, for the first full fiscal year following completion of the restoration of the Property less:
Sample 1

More Definitions of Projected Operating Income Available for Debt Service

Projected Operating Income Available for Debt Service means projected gross annual rent from the Approved Leases for the first full fiscal year following completion of the restoration of the Property less: (A) the operating expenses of the Property for the last fiscal year preceding the casualty and (B) the following: (i) a replacement reserve for future tenant improvements, leasing commissions and structural items based on not less than $1.95 per square foot per annum; (ii) the amount, if any, by which actual gross income during such fiscal period exceeds that which would be earned from the rental of 93% of the gross leasable area in the Property; (iii) the amount, if any, by which the actual management fee is less than 3.75% of gross revenue during such fiscal period. All projections referenced above shall be calculated in a manner satisfactory to Mortgagee. Nothwithstanding the above, if (i) the casualty occurs during the last 12 months of the term of the Note, (ii) there is then no existing default under any of the Loan Documents, and (iii) the insurance loss proceeds are less than $100,000.00, then the Mortgagee will release the proceeds to Mortgagor upon completion of the restoration.
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Related to Projected Operating Income Available for Debt Service

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.