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

• The Partnership Management Fee may not escalate without the County’s prior approval which Borrower may request annually with submission of the Statement of Residual Receipts.

• Any remaining amount of the Priority Developer Fee not paid in the Initial Fee Payment and Second Fee Payment may be paid at the Permanent Conversion or must be paid out of Borrower's Share of Residual Receipts or contributed to the Development.

• Borrower shall pay the HOME Monitoring Fee annually to the County on the date that an Annual Payment is due to the County through the end of the Term, regardless of whether there are sufficient Residual Receipts to make an Annual Payment.

• Commencing on June 1, 2025 and on June 1 of each year thereafter during the Term, Borrower shall make a HOME Loan payment in an amount equal to the sum of (1) the County Loan Prorata Percentage of the Lenders' Share of Residual Receipts and (2) the County Additional Prorata Percentage of the Local Lender's Share of Residual Receipts (each such payment, an "Annual Payment").

• Any amount not paid as the Priority Developer Fee must either be deferred and paid out of Borrower's Share of Residual Receipts or contributed to the Development.

More Definitions of Residual Receipts

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

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

Residual Receipts means for each Budget Year, the amount by which Gross Revenues exceed the sum of (a) Approved Operating Expenses, (b) Senior Debt Service Payments, (b) the VHDA Monitoring Fee, (c) the Investor Member Asset Management Fee, (e) the WHDC Asset Management Fee, (f) the WHDC Property Management Fee, and (g) payments into the Replacement Reserve. Residual Receipts shall also include Net Proceeds resulting from any Capital Transaction.

Residual Receipts means Annual Project Revenue less the sum of:

Residual Receipts means Revenue minus: (i) Operating Expenses and (ii) Cash Flow for Supportive Services, calculated on a 12-month basis. All calculations of Residual Receipts shall be subject to verification and reasonable approval by the Agency.

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.

Residual Receipts means certain funds held by certain Non-Profit, and Public Body Borrowers which are restricted in their use by Program Obligations.