Total Approved Operating Expenses definition

Total Approved Operating Expenses means for each Fiscal Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:
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Total Approved Operating Expenses means for each Fiscal Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of the Property to the extent that such operating expenses are consistent with the Approved Operating Budget and the Annual Audited Financial Statements:
Sample 1

Examples of Total Approved Operating Expenses in a sentence

  • Any costs and expenses incurred by the Borrower that is not included in the definition of Total Approved Operating Expenses set forth above shall not be included in the Total Approved Operating Expenses used to calculate the Residual Receipts.

  • The proposed 12-month operating budget shall include with particularity the projected (I) Total Gross Revenues, (II) Total Senior Lender Debt Service Payments, (III) Total Approved Operating Expenses, (IV) Total Property Management Fee Payment, (V) annual General Partner Asset Management Fee, (VI) annual Limited Partner Asset Management Fee, (VII) payments by the Borrower into the Capital Replacement Reserve, and (VIII) Residual Receipts, on a month-by- month basis for the applicable Fiscal Year.

Related to Total Approved Operating Expenses

  • Approved Operating Expenses operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Independent expenditure means an expenditure by a person:

  • 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 Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.

  • net non-operating income means the difference between:

  • Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:

  • Management Expenses means the costs, charges and expenses necessarily and reasonably incurred or to be incurred for the management and maintenance of the Land and the Building and the Common Areas and Facilities therein to be borne by the Owners including the remuneration of the Manager as provided in this Deed;

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

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

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.