Computation of Adjusted Net Operating Income Sample Clauses

The Computation of Adjusted Net Operating Income clause defines how a property's net operating income (NOI) is calculated after making specific adjustments. Typically, this involves starting with gross income, subtracting operating expenses, and then making further adjustments for items such as non-recurring expenses, reserves, or other agreed-upon factors. This clause ensures that all parties have a clear and consistent method for determining NOI, which is often used for financial covenants, rent calculations, or performance benchmarks, thereby reducing disputes and providing transparency in financial assessments.
Computation of Adjusted Net Operating Income. Borrowers shall deliver to Administrative Agent quarterly commutations of Adjusted NOI with the Borrowing Base Report required pursuant to Section 7.1(c). Administrative Agent shall notify Borrowers in writing of any calculation errors or other errors in the calculation of Adjusted NOI required by Administrative Agent pursuant to the definition of Adjusted NOI and corresponding adjustments to the Borrowing Base (if any). If a Hotel is admitted into the Borrowing Base prior to the last day of any fiscal quarter during the term of this Agreement, then Administrative Agent shall notify Borrowers and Lenders in writing of any changes to the Borrowing Base as a result of the admission of such Hotel into the Borrowing Base.
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Computation of Adjusted Net Operating Income. Borrower shall deliver to the Administrative Agent quarterly computations of Adjusted Net Operating Income with the Borrowing Base information required pursuant to SECTION 7.1(d). The Administrative Agent shall notify Borrower in writing of any additional adjustments to Adjusted Net Operating Income required by the Administrative Agent and corresponding adjustments to the Borrowing Base (if any). If a Project is admitted into the Borrowing Base prior to the last day of any fiscal quarter during the term of this Agreement, then the Administrative Agent shall notify Borrower and the Lenders in writing of any changes to the Borrowing Base as a result of the admission of such Project into the Borrowing Base.
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Computation of Adjusted Net Operating Income. Borrower shall deliver to Agent quarterly computations of Adjusted NOI with the Borrowing Base Report required pursuant to Section 7.1(c). Agent shall notify Borrower in writing of any additional adjustments to Adjusted NOI required by Agent and corresponding adjustments to the Borrowing Base (if any). If a Property is admitted into the Borrowing Base prior to the last day of any fiscal quarter during the term of this Agreement, then Agent shall notify Borrower and Lenders in writing of any changes to the Borrowing Base as a result of the admission of such Property into the Borrowing Base.
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Related to Computation of Adjusted Net Operating Income

  • CALCULATION OF NET ASSET VALUE U.S. Trust will calculate the Fund's daily net asset value and the daily per-share net asset value in accordance with the Fund's effective Registration Statement on Form N-2 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), including its current prospectus. If so directed, U.S. Trust shall also calculate daily the net income of the Fund

  • Determination of Net Asset Value The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of regular trading on the New York Stock Exchange on each day for all or part of which such Exchange is open for unrestricted trading.

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.

  • Minimum Adjusted EBITDA Borrower shall maintain a minimum trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

  • Consolidated Net Leverage Ratio Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.