Property Income definition
Property Income means cash rents (excluding non-cash straight-line rent) and other cash revenues received by the Borrower or a Guarantor in the ordinary course for any Property, but excluding security deposits and prepaid rent except to the extent applied in satisfaction of tenants’ obligations for rent.
Property Income means, when used with respect to any Real Property --------------- Asset, cash rents and other cash revenues received in the ordinary course therefrom, including, without limitation, revenues from any parking leases and lease termination fees amortized over the remaining term of the lease for which such termination fee was received (other than prepaid rents and revenues and security deposits, except to the extent applied in satisfaction of tenants' obligations for rent).
Property Income means, as to any Real Property, cash rents (excluding non cash straight line rent) and other cash revenues received by a Subsidiary in the ordinary course for such Real Property, but excluding security deposits and prepaid rent except to the extent applied in satisfaction of applicable Tenants’ obligations for rent. The Borrower’s Ownership Share of assets held by Unconsolidated Affiliates shall be included in the calculation of Property Income consistent with the above described treatment for assets owned by AF REIT or a Subsidiary.
Examples of Property Income in a sentence
Manager shall segregate the income and expenses of each Property so that Property Income from each Property will be applied only to the bills and charges from such Property.
If, at any time, the Property Income from a Property is not sufficient to pay the bills and charges payable from the Operating Accounts which have been incurred with respect to such Property, Manager will submit to Owner a statement of all remaining unpaid bills and Owner will provide Manager with sufficient funds to pay any unpaid expenses.
On or before the tenth (10th) day of each month, Manager shall cause to be disbursed to Owner, in method and form suitable to Owner, any balance in the Depository Account in excess of the amount required to pay anticipated disbursements due and payable during such month after taking into account Property Income, receipt of which is anticipated during such month.
More Definitions of Property Income
Property Income means, for any Retail Property, all gross revenue from the ownership and/or operation of such Retail Property (but excluding income from a sale or other capital item transaction), service fees and charges and all tenant expense reimbursement income payable with respect to such Retail Property.
Property Income has the meaning assigned in the Granting Clauses.
Property Income means all rents, income, profits, security deposits and other benefits to which the Borrower may now or hereafter be entitled from any lease, tenancy or rights of use of all or any part of the Property and/or the income generated from the business operations conducted at or from the Property.
Property Income means, as to any Real Property, straight-line rents as determined in accordance with GAAP, but excluding security deposits and prepaid rent except to the extent applied in satisfaction of applicable Tenants’ obligations for rent.
Property Income means, for any Retail/Other Property, all gross revenue from the ownership and/or operation of such Retail/Other Property (but excluding income from a sale or other capital item transaction), service fees and charges and all tenant expense reimbursement income payable with respect to such Retail/Other Property.
Property Income means, for any Office Property, all gross revenue from the ownership and/or operation of such Office Property (but excluding (i) income from a sale or other capital item transaction and (ii) Lease Buyout Proceeds), service fees and charges, all tenant expense reimbursement income payable with respect to such Office Property (but not such reimbursement for expenditures not deducted as a Property Expense), and proceeds of business interruption insurance specifically allocable to such Office Property.
Property Income means, when used with respect to any Real Property Asset, annual contractual rents (other than prepaid rents and revenues and security deposits except to the extent applied in satisfaction of tenants' obligations for rent), in effect as of the last day of a quarter in accordance with the applicable leases, but provided that if any tenant is more than 60 days in arrears in the payment of base or fixed rent as of the last day of a quarter, the annual contractual rents payable pursuant to such tenant's lease shall not constitute "Property Income".