Residual Receipts definition

Residual Receipts means for each calendar year, the amount by which Gross Revenue exceeds Annual Operating Expenses.

Residual Receipts means certain funds held by a Non-Profit Borrower which are restricted in their use by this Agreement and Program Obligations, and otherwise described in Section 17.

Residual Receipts means certain funds held by a Non-Profit Borrower which are restricted in their use by Program Obligations.

Examples of Residual Receipts in a sentence

• Agency Base Rent shall only become due after the Tenant has repaid those two certain loans from the City, each evidenced by a Loan Agreement, Promissory Note, Deed of Trust, and Affordability Restrictions on Transfer of Property dated , 20 , in the amount of $3,007,489.00, and dated , 20 , in the amount of $963,951, which is also being paid out of the same thirty-three and one-third percent (33.3%) of the Residual Receipts.

• County Base Rent shall only become due after the Tenant has repaid that certain loan from the County awarded under the 2016 Permanent Supportive Housing Notice of Funding Availability, Addendum One, evidenced by a Loan Agreement, Promissory Note and Leasehold Deed of Trust, in the amount of $2,280,701, which is also being paid out of the same thirty-three and four-tenths percent (33.4%) of the Residual Receipts.

• Tenant shall also make annual payments to Agency of thirty-three and one-third percent (33.3%) of the then available Residual Receipts (defined above), but only to the extent said Residual Receipts are available, until the amount of four million, one hundred and eight thousand, one hundred and thirty-six dollars ($4,108,136) is fully paid (“Agency Base Rent”).

• Tenant shall make annual payments to County of thirty- three and four-tenths percent (33.4%) of the then available Residual Receipts (defined above), but only to the extent said Residual Receipts are available, until the amount of two million, three hundred and forty-one thousand, eight hundred and sixty-four dollars ($2,341,864) is fully paid (“County Base Rent”).

More Definitions of Residual Receipts

Residual Receipts has the meaning specified in the HUD Regulatory Agreement.

Residual Receipts means for each Budget Year, the Total Gross Revenues minus the sum of the (a) Total Senior Lender Debt Service Payments, (b) Total Approved Operating Expenses, (c) Total Payments Into Reserves, and (d) Total Property Management Fee Payment.

Residual Receipts means any cash remaining at the end of a calendar year after deducting from Surplus Cash:

Residual Receipts means Annual Project Revenue less the sum of:

Residual Receipts means (a) the Gross Revenue minus (b) the Operating Expenses, calculated on a 12-month basis, minus (c) the outstanding balance, if any, of the Deferred Developer Fee. All calculations of Residual Receipts shall be subject to verification and approval by the Agency Executive Director.

Residual Receipts in a particular calendar year shall mean the amount by which Gross Revenue exceeds Annual Operating Expenses.

Residual Receipts means certain funds which are restricted in their use by Program Obligations and applicable business documents (e.g., HAP Contract, Use Agreement) as may be more specifically described in a Residual Receipts Rider attached hereto.