Gross Monthly Collections definition

Gross Monthly Collections shall have the meaning set forth in the Property Management Agreement.

Gross Monthly Collections means the grand total of all rents (base and additional rent), security deposits (only when applied or forfeited), and other monies accrued that are collected during the month from the Property, or that have been previously collected and are applied during such month. In no event shall Agent’s monthly fee be less than $500, which amount is recognized by Owner and Agent as a reasonable minimum amount for services rendered hereunder. Owner will also pay for any additional reasonable costs or expenses that Agent incurs as a result of the extra expense above standard GAAP accounting required for SOX/SEC compliance in accordance with Section 2.4 of the Management Agreement. All expenses relating to personnel (including independent contractors, building engineers and the Property Managers) who work exclusively at the Property and/or who provide services to the Property and whose time can be reasonably allocated to the Property are in addition to Agent’s fee. Owner shall not be obligated to reimburse Agent for any expenses for off-site office equipment or off-site office supplies of Agent, for any overhead expenses of Agent incurred with respect to its general offices, or for any salaries, benefits, or wages allocable to time spent on projects other than the Property. Owner shall not be obligated to reimburse Agent for any obligations or expenses resulting from the gross negligence, fraud, or willful misconduct of Agent, nor for the failure of Agent to perform its material obligations and duties under this Agreement. If there is a conflict between the terms of this Addendum and those of the Management Agreement, the terms of the Management Agreement shall prevail. Initial-capitalized terms defined in the Management Agreement and used in this Addendum shall have the same meaning as defined in the Management Agreement. ASSET AND MANAGEMENT AGREEMENT ADDENDUM A – PAGE 5 INITIAL BUDGET ASSET AND MANAGEMENT AGREEMENT CONSTRUCTION MANAGEMENT This Addendum B (this “Addendum”) is attached to and made a part of the Asset and Property Management Agreement (the “Management Agreement”). Owner authorizes Agent to manage, supervise, and provide construction management services for the Property, in the general capacity as identified below and more completely described within this Addendum. x Construction and/or demolition of one or more buildings or structures at the Property. x Construction, refurbishment or modification and/or demolition of portions or the whole of the common...

Gross Monthly Collections means the total gross monthly collections received from the Property as a result of rental of all or any portion of the Property, excluding, however, security deposits, payment of money by a tenant or any other person or entity to Owner or Manager in consideration for or in conjunction with a security deposit, fire loss proceeds, any Special Services, condemnation proceeds, proceeds received by Owner in connection with the sale of any portion of the Property or personal property located upon the Property, and the refinancing of any indebtedness secured by a lien on any portion of the Property or otherwise related to the operation of the Property.

Gross Monthly Collections means the total gross monthly collections received from the Building, including without limitation, base rents, percentage rents and reimbursements or direct payments of taxes, insurance or other charges for which a private tenant is liable under its lease; all payments related to use of parking spaces; and other incidental reimbursements or payments due for use of the Building.

Gross Monthly Collections means the total gross monthly collections received from the Property, including, without limitation, tenant rental income, pet rents and other charges and miscellaneous income items of Owner as applicable. Insurance proceeds for lost or unpaid rent, including without limitation, insurance proceeds from business interruption insurance related to lost or unpaid rent, are includable in Gross Monthly Collections. Any payments by tenants on account of any taxes imposed on rentals collected by Property Manager shall be excluded from Gross Monthly Collections. Any advance rental payments shall be included in Gross Monthly Collections when received. Security and other deposits shall not be included therein unless the same are no longer used for security purposes and are applied to income. Without limitation, any payment of money by a tenant to Owner or Property Manager in consideration for or in conjunction with a rental deposit, the termination, cancellation, expiration, renewal, extension or modification of a tenant’s lease, property insurance loss proceeds, remodeling and tenant improvement charge costs, condemnation proceeds, or proceeds received by Owner in connection with the sale of any portion of the Property or the refinancing of any indebtedness secured by a lien on any portion of the Property, shall be excluded from the Gross Monthly Collections. Proceeds of business interruption insurance shall be included in Gross Monthly Collections.

Gross Monthly Collections means the total gross monthly collections received from the Property, including, without limitation, base rents, percentage rents and reimbursements or direct payments of taxes, insurance or other charges for which a tenant is liable under its lease, payments in connection with the termination, cancellation, expiration, renewal, extension or modification of a tenant's lease, net receipts from the operation or rental of parking facilities and business interruption and rental loss proceeds; provided, however, that any payment of money by a tenant to Owner or Property Manager in consideration for or in conjunction with a security, rental or other deposit (unless and until actually applied as rent), property insurance loss proceeds, remodeling and tenant improvement charge costs, condemnation proceeds or proceeds received by Owner in connection with the sale of any portion of the Property or the refinancing of any indebtedness secured by a lien on any portion of the Property shall not be included in the Gross Monthly Collections. Any advance rental payments (not to exceed 60 days in advance of their due date) shall be included in Gross Monthly Collections when received.

Gross Monthly Collections means the total gross monthly collections of rent and tenant reimbursements received from the Property, including only the following: base rents, percentage rents and reimbursements of taxes, insurance or common area maintenance charges for which a tenant is liable under its lease. Gross Monthly Collections shall not include the following: (i) receipts from the operation or rental of parking facilities, (ii) business interruption or rental loss proceeds (but such proceeds shall be included in Gross Monthly Collections during any period of time that more than 50% of the Property is unoccupied as a result of a casualty), (iii) any payment of money by a tenant to Owner or Property Manager in consideration for or in conjunction with a security, rental or other deposit (unless and until actually applied as rent), (iv) payments in connection with the termination, cancellation, expiration, renewal, extension or modification of a tenant's lease, (v) property insurance loss proceeds, (vi) remodeling and tenant improvement charge costs, (vii) condemnation proceeds, (viii) proceeds received by Owner in connection with the sale of any portion of the Property or the refinancing of any indebtedness secured by a lien on any portion of the Property, (ix) direct payments of taxes or insurance by any tenant of the Property, or (x) payments by tenants to a merchant's association or promotional fund. Any advance rental payments (not to exceed 30 days in advance of their due date) shall be included in Gross Monthly Collections when received.

Gross Monthly Collections means the total gross monthly collections and revenues received from the Property, including without limitation, base rents, parking revenue, percentage rents and reimbursements or direct payments of taxes, insurance or other charges for which a tenant is liable under its lease; provided, however, that any payment of money by a tenant to Owner or Property Manager in consideration for or in conjunction with a security, rental or other deposit (unless and until actually applied as rent), property insurance loss proceeds, remodeling and above-standard tenant improvement costs (either in the form of an allowance or direct tenant improvement costs) amortized into rent, condemnation proceeds or proceeds received by Owner in connection with the sale of any portion of the Property or the refinancing of any indebtedness secured by a lien on any portion of the Property shall not be included in the Gross Monthly Collections. Any advance rental payments (not to exceed 60 days in advance of their due date, unless otherwise approved in writing by Manager) shall be included in Gross Monthly Collections when received.

Gross Monthly Collections means the total gross monthly collections of rent (including late charges) and tenant reimbursements received from the Property, including only the following: base rents, percentage rents and reimbursements of taxes, insurance or common area maintenance charges for which a tenant is liable under its lease. Gross Monthly Collections shall not include the following: (i) receipts from the operation or rental of parking facilities, (ii) business interruption or rental loss proceeds, (iii) any payment of money by a tenant to Owner or Property Manager in consideration for or in conjunction with a security, rental or other deposit (unless and until actually applied as rent), (iv) payments in connection with the termination, cancellation or expiration of a tenant's lease, and payments in connection with the renewal, extension or modification of a tenant's lease (other than increases in rent associated with such renewal, extension or modification), (v) property insurance loss proceeds, (vi) remodeling and tenant improvement charge costs (except to the extent such costs are included in base rent under any Lease), (vii) condemnation proceeds, (viii) proceeds received by Owner in connection with the sale of any portion of the Property or the refinancing of any indebtedness secured by a lien on any portion of the Property, (ix) direct payments of taxes or insurance by any tenant of the Property to the taxing authority or insurance company, or (x) payments by tenants to a merchant's association or promotional fund. Any advance rental payments (not to exceed 30 days in advance of their due date) shall be included in Gross Monthly Collections when received.