Standard Adjustments definition

Standard Adjustments means the following assumptions and adjustments to be made when calculating Underwritten NOI, Underwritten Operating Expenses and Underwritten Operating Revenues:
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Standard Adjustments means the following assumptions to be made with respect to each Project when calculating Underwritten NOI: (a) an occupancy rate equal to the lesser of market occupancy or the Project’s actual occupancy rate (but in no event more than a ninety percent (90%) occupancy rate); (b) capital reserves of $0.15 per gross square foot; and (c) a management fee equal to the greater of the Project’s actual management fee or six percent (6%) of Operating Revenues. As used above, “market occupancy” means, as to each Project, the average occupancy rate of self-storage projects that are similar in size and quality to such Project and that are located in such Project’s geographic market or sub-market area, all as determined by Lender.
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Standard Adjustments means the following assumptions to be made when calculating Underwritten NOI: (a) an occupancy rate equal to the lesser of market occupancy or a Parcel’s actual (based on the trailing twelve months) occupancy rate (but in no event more than a 76% occupancy rate); (b) capital reserves equal to the greater of $0.15 per gross square foot or such higher amount as may be determined by Lender; (c) a management fee equal to the greater of a Parcel’s actual management fee or five percent (5%) of Underwritten NOI for such Parcel; (d) increases in Operating Expenses based upon projected inflation as determined by Lender; (e) increases in real estate taxes, assessments and similar charges relating to a Parcel based on projected revisions to the assessed value of such Parcel as determined by Lender; and (f) Operating Revenues shall exclude, without limitation, revenue from tenants and other occupants of a Parcel that exceed market levels, revenues from month-to-month tenants and other occupants, and revenues from tenants and other occupants that are in free rent periods, that are in monetary default or have filed for bankruptcy protection or are not in occupancy of their space. As used above, (i) ”market occupancy” means the average occupancy rate of self storage facilities projects that are similar in size and quality to the Parcel in question and that are located in such Parcel’s geographic market or sub‑market area, all as determined by Lender, and (ii) ”market levels” means the average revenue from tenants and other occupants of self storage facilities projects that are similar in size and quality to the Parcel in question and that are located in such Parcel’s geographic market or sub‑market area, all as determined by Lender.
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Examples of Standard Adjustments in a sentence

  • The Plan recommendations and specific actions outlined in the Action Plan clearly establish a new course for the management of growth in the Town.

  • Payment Standard Adjustments At least once yearly, the Office of Housing and Community Development may make adjustments to the payment standard for each bedroom size, (1, 2, 3 or 4).

  • Risk management feedbacks are reflected to update LL data.• Organization Procedures and Standard Adjustments: Normally, LL outputs could recommend some improvments on the technical and managerial assets of the organization.

  • Payment Standard Adjustments At least once yearly, at the time the first budget for the new year is submitted to the United States’ Department of Housing and Urban Development, the Office of Housing and Community Development will make adjustments to the payment standard for each bedroom size, (1, 2, 3 or 4).

  • This policy also applies to repeated violations of statutory standards (see Section G in this chapter).‌‌E.2.a. Repeated Violation Base Penalty and Standard Adjustments.

  • A willful violation is a voluntary action done with either intentional disregard of, or plain indifference to, WISHA requirements or employee safety and health.‌‌ IMPORTANT: No reduction is given for good faith, history, or abatement quick-fix.E.1.a. Willful Base Penalty and Standard Adjustments.


More Definitions of Standard Adjustments

Standard Adjustments means the following assumptions to be made when calculating Underwritten NOI: (a) management fees equal to the greater of (i) actual management fees paid or (ii) three percent (3%) of Operating Revenues; (b) FF&E expenditures equal to the greater of (i) four percent (4%) of Operating Revenues or (ii) such amounts required under the Franchise Agreement; and (c) a mortgage constant equal to the greater of actual mortgage constant or seven percent (7.0%.)
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Standard Adjustments means with respect to the sale of a Royalty Bearing Product (a) ordinary and customary trade, cash and quantity discounts, (b) excise taxes, sales taxes, consumption taxes and other taxes imposed upon and paid with respect to such sales, (c) freight, insurance and other transportation charges incurred in shipping Royalty Bearing Products to third parties, (d) amounts repaid or credited by reason of rejections, defects, recalls or returns or because of retroactive price reductions, and (e) rebates paid pursuant to governmental regulations. Confidential Materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions.
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Standard Adjustments means the following assumptions to be made when calculating Underwritten NOI: (a) an occupancy equal to the lesser of the Projects’ actual portfolio occupancy or a ninety-five percent (95%) occupancy; (b) capital reserves of $0.10 per gross square foot; (c) a management fee equal to the greater of the Projects’ actual management fees or three percent (3%) of Operating Revenues; (d) Operating Revenues excluding (i) non-recurring categories of income, and (ii) revenue from tenants (A) that are not physically occupying their leased premises, (B) that are in monetary default of their rental obligations for more than 30 days, (C) that are under month-to-month tenancies, (D) with leases that expire within three months following the date of calculation, and (E) who are the subject of any voluntary or involuntary bankruptcy, insolvency, liquidation, reorganization or similar proceeding, unless such bankruptcy is filed under Chapter 11 of the Bankruptcy Code and the tenant has expressly assumed such lease in the bankruptcy proceeding, and for any lease that includes free rent periods, taking into account on a monthly basis the total rent payable over the term of the lease divided by the total number of months in the lease (including months in which no rent is payable); and (e) Operating Expenses calculated on a trailing twelve-month basis, as adjusted by Lender’s current underwriting standards.
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Standard Adjustments means the following assumptions to be made when calculating Underwritten NOI: (a) an occupancy rate equal to the lesser of the Project's actual occupancy rate or a seventy-five percent (75%) occupancy rate; (b) franchise, management and marketing fees equal to the greater of (i) actual franchise, marketing and management fees paid or (ii) twelve and one-half percent (12.5%) of Operating Revenues, (c) FF&E expenditures equal to the Minimum Replacement Amount (as defined in Section 8.18); and (d) the exclusion of Operating Revenues and Operating Expenses from Unlicensed Hotels.
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Standard Adjustments is amended by deleting clause (a) and inserting the following in lieu thereof: “ (a) an occupancy rate equal to the lesser of the Project’s actual occupancy rate or (i) an eighty percent (80%) occupancy rate for Extended Stay Hotels, or (ii) a seventy-five percent (75%) occupancy rate for all other Hotels.”
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Related to Standard Adjustments

  • Value Adjustments means cash lending revenues and other revenues on collateral in respect of a Series of ETP Securities.

  • Related Adjustment means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined by the Administrative Agent applicable to such LIBOR Successor Rate:

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Contract Term Adjustment means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • Spread Adjustment means 100 basis points.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • Price Adjustment means any and all price reductions, offsets, discounts, rebates, adjustments, and or refunds which accrue to or are factored into the final net cost to the hospital outpatient department or ambulatory surgical center.

  • ISDA Fallback Adjustment means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.

  • Estimated Adjustment Amount has the meaning set forth in Section 2.8(a).

  • Adjustments are all discounts, allowances, returns, disputes, counterclaims, offsets, defenses, rights of recoupment, rights of return, warranty claims, or short payments, asserted by or on behalf of any Account Debtor for any Financed Receivable.

  • Contract Adjustment Payments means amounts payable by the Company on each Contract Adjustment Payment Date in respect of each Purchase Contract, at a rate per year of 2.725% on the Stated Amount per Purchase Contract.

  • Final Adjustment has the meaning set forth in Section 10.3.B(2) hereof.

  • Cost of Living Adjustment means the cost-of-living adjustment prescribed by the Secretary of the Treasury under Code Section 401(a)(17), 414(v), or 457(e)(15) for any applicable year.

  • Adjustment Number initially shall be 1000. In the event the Corporation shall at any time after May 18, 2004 (i) declare and pay any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.

  • Purchase Price Adjustment shall have the meaning specified in Section 3.02.

  • Informal adjustment means an agreement reached among the parties, with consultation, but not the consent, of the victim of the crime or other persons specified in KRS 610.070 if the victim chooses not to or is unable to participate, after a petition has been filed, which is approved by the court, that the best interest of the child would be served without formal adjudication and disposition;

  • Market Value Adjustment means, on a given date, an amount equal to the lesser of (x) 98% and (y) a percentage determined according to the following formula: Market Value Adjustment = 98% – [(10yrCMTt – 10yrCMTlaunch) ×Duration], where 10yrCMTt = the 10-Year Treasury Constant Maturity Rate published each business day by the Board of Governors of the Federal Reserve System, or, if such rate ceases to be published, a successor rate reasonably determined by the Trustees (the “10-Year CMT”), on such repurchase date; 10yrCMTlaunch = the 10-Year CMT as of the end of the Initial Offering Period; and Duration = an estimate of the duration of the periodic interest payments of a hypothetical coupon-paying U.S. Government Security with a 25-year maturity, calculated by the Trust’s Investment Manager as of the end of the Initial Offering Period;

  • Lot line adjustment means the relocation of the property boundary line in a

  • Final Adjustment Amount shall have the meaning set forth in Section 2.5(e).

  • Equity Adjustment means the dollar amount resulting by subtracting the Book Value, as of Bank Closing, of all Liabilities Assumed under this Agreement by the Assuming Bank from the purchase price, as determined in accordance with this Agreement, as of Bank Closing, of all Assets acquired under this Agreement by the Assuming Bank, which may be a positive or a negative number.

  • Material Project EBITDA Adjustments means, with respect to each Material Project:

  • SOFR Adjustment means 0.10% (10 basis points).

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • Principal Adjustment In the event that the Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal Principal Amount or Class B-6 Optimal Principal Amount is calculated in accordance with the proviso in such definition with respect to any Distribution Date, the Principal Adjustment for such Class of Class B Certificates shall equal the difference between (i) the amount that would have been distributed to such Class as principal in accordance with Section 4.01(a) for such Distribution Date, calculated without regard to such proviso and assuming there are no Principal Adjustments for such Distribution Date and (ii) the Adjusted Principal Balance for such Class.