Projected Net Revenues definition

Projected Net Revenues means, in relation to any period, an amount (which may be a negative or positive figure) calculated by deducting “B” from “A” where:
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Projected Net Revenues means either (a) projected Net Revenues for the Fiscal Year immediately following the issuance or incurrence of any additional Permitted Loans or Additional Bonds, set forth in a report of a Consulting Engineer or an Independent Accountant, based on a detailed investigation and report of such Consulting Engineer or Independent Accountant, as to the amount of annual Net Revenues expected in such Fiscal Year, which projected Net Revenues as defined and certified by such Consulting Engineer or Independent Accountant shall govern in determining the right of the Issuer to issue additional Permitted Loans payable out of the Gross Revenues of the System that are superior in lien and security to the Parity Bonds, or to issue Additional Bonds payable out of the Net Revenues of the System on a parity or equality with the Parity Bonds, or (b) Net Revenues, as reflected by information provided by the Independent Accountant, for the Fiscal Year next preceding the issuance of additional Permitted Loans or Additional Bonds. In determining Projected Net Revenues under the preceding subsection (a), the maximum amount payable in any succeeding Fiscal Year on the proposed additional Permitted Loan shall be treated as an Expense in the Fiscal Year for which the Projected Net Revenues are being computed.
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Projected Net Revenues means (i) projected revenues for the Southern Connector for the relevant year, as set forth in Figure 4.4.2 of the Traffic and Revenue Report for Southern Connector dated May 4, 2009, prepared by Stantec Consulting Services Inc., less (ii) the reorganized Debtor’s projected Operating Costs for such year, as determined by increasing the aggregate amount of expenses set forth in the Debtor’s Annual Budget for 2010 (less certain extraordinary expenses) by 3.0% per annum for each year after 2010.
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Examples of Projected Net Revenues in a sentence

  • As an example, if Net Revenues for calendar year 2004 equal $11,590,000, which is 95% of the Projected Net Revenues for such Period, then the applicable Post Closing Additional Payment shall be $500,000 which is calculated as follows $1,000,000 x [($11,590,000-$10,980,000) / ($12,200,000 – – $10,980,000)] = $500,000.

  • If Projected Net Revenues, together with amounts held in the Revenue Fund and Debt Service Fund under the Indenture, do not equal at least 120% of Maximum Annual Debt Service, the Issuer agrees not to sell or otherwise dispose of non- pledged Loans without the prior written consent of the Guarantor.

  • All calculations of the amount required in the Debt Protection Account, of the amount required in the Maintenance Reserve Account, of Debt Service Coverage Ratio, of Discretionary Cash Flow, of Gross Revenues, of Net Revenues, of Operating Costs, of Projected Gross Revenues, of Projected Net Revenues and of Projected Operating Costs shall be made by Borrower, in accordance with the terms of this Agreement, in form and substance satisfactory to Agent.

  • The Issuer shall on or before each Valuation Date prepare a projection (the “Projection”), of Pledged Revenues, Administrative Expenses, Debt Service, and Projected Net Revenues for each Bond Year during which Bonds are then expected to be Outstanding.

  • Such amount will be adjusted downward pursuant to Section 1.5(c) below should the Net Revenues be below the Projected Net Revenues as listed in Section 1.5(a) above for the specified Period.

  • The Authority shall on or before each January 15, April 15, July 15 and October 15, commencing October 15, 2013, prepare a projection of Pledged Revenues, Administrative Expenses, Debt Service, Scheduled Credit Facility Fees and Projected Net Revenues for each Bond Year during which Bonds are then expected to be Outstanding.

  • Without limiting the generality of the foregoing, to the extent that moneys are made available by the Authority under Section 5.04(g), any future Pledged Loan Payments derived from defaulted or non-performing Loans which are no longer taken into account in such Loan Payments Officer’s Certificate as Projected Net Revenues shall to the extent so directed by the Authority be released from the lien of this Indenture.


More Definitions of Projected Net Revenues

Projected Net Revenues means, with respect to any Eligible Real Property Collateral, the Net Proceeds estimated by the Borrower in good faith to be received by the Borrower after the date of determination from the sale of the Eligible Real Property Collateral or interests therein. In determining Projected Net Revenues, (i) Net Proceeds from the sale of Eligible Real Property Collateral subject to a Purchase Contract shall not exceed the contracted sales price (net of customary costs and expenses), (ii) Net Proceeds from the sale of Eligible Real Property Collateral that are being offered for sale by the Borrower shall not exceed the current offer price (net of customary costs and expenses), (iii) Net Proceeds shall be adjusted to take into account as a deduction from estimated Net Proceeds any projected CFD Obligations, PAPA Obligations, and reasonable and customary anticipated costs of sale related to sales of any Real Property, (iv) Model Homes included as part of the Eligible Real Property shall be assumed to be held until substantially all other Units of the same type as the Model Home in the Asset are projected to be sold, (v) the amount and timing of receipt of Projected Net Revenues shall be prepared by Borrower in good faith based on assumptions that it believes to be reasonable on the date of determination, and (vi) the amount and timing of receipt of Projected Net Revenues shall be consistent with the most recent Certified Net Cash Flow Report delivered by Borrower to the Administrative Agent under the Loan Documents with such adjustments necessary to reflect subsequent changes in actual sales prices and absorption rates achieved at the various Assets with Eligible Real Property Collateral. Projected Net Revenues as of the date of any Borrowing Base Report shall be reflected on the Certified Net Cash Flow Report for the Eligible Real Property Collateral.
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Projected Net Revenues means, for any period the same is to be determined, the Projected Revenues for such period less all Projected Operation and Maintenance Expenses during such period.
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Projected Net Revenues means, the Net Revenues of the Sewer System for any given Fiscal Year, which may include (a) one hundred percent of the estimated increase in Net Revenues projected to result from approved rate increases and (b) in the case of Section 207 for the purpose of determining the Additional Bonds Debt Service Coverage, one hundred percent of the estimated increase in Net Revenues projected to accrue as a result of the acquisition of the repairs, extensions, enlargements and improvements to the Sewer System projected to be paid for in whole or in part from the proceeds of the Additional Bonds under Section 207.
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Projected Net Revenues shall have the meaning provided in Section 1.01 of the Indenture.
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Projected Net Revenues means, for any period, the difference between Projected Gross Revenues of Borrower and Projected Operating Costs of the Facility.
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Projected Net Revenues means the amount of Net Revenues for a particular period of time as projected by the Hotel Consultant.
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Related to Projected Net Revenues

  • Net Revenues means revenues less related expenses, including

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Operating Revenues means, for any, period, the gross revenues arising from the ownership and operation of the Properties during such period, including proceeds of any business interruption or rental loss insurance and amounts released from reserves, but specifically excluding Capital Proceeds, Capital Contributions and proceeds of Indebtedness.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"