Property G&A Expense definition
Property G&A Expense means, for any period, 8% of the total lease revenues of the Company and its Subsidiaries for such period, as set forth on the Company’s consolidated financial statements for such period.
Property G&A Expense means, for any period, eight percent (8%) of the total gross revenues of the Company and its Subsidiaries for such period from (i) Projects in which the Company and its Subsidiaries collectively have an ownership interest of one hundred percent (100%) and (ii) Projects in which the Company or its Subsidiaries have a Joint Venture Holding; provided that the gross revenues for the Projects owned by Joint Ventures shall be limited to that portion of gross revenues of such Joint Ventures for such period allocable to the Company or its Subsidiaries based on their ownership interests in such Joint Ventures in accordance with GAAP (with appropriate adjustments for minority interests).
Property G&A Expense means, for any period, an amount equal to Total G&A Expense less Management G&A Expense adjusted to exclude any non-cash and non-recurring charges.