Adjusted Facility Expenses

Adjusted Facility Expenses. Shall mean (i) all Facility Expenses (excluding amortization, depreciation and similar non-cash items) with respect to the Facility; except that such term shall not include real estate taxes, utilities and insurance premiums to the extent such items are greater than 103% of the amounts projected for such items on the pro forma budget for the Facility attached as Exhibit A; PLUS (ii) the Monthly Payment, excluding therefrom any portion thereof resulting from the calculation of interest at a rate... in excess of seven percent (7%) per annum (except to the extent that such excess is due to any default by SALII or any of its Related Parties under any Facility Development Agreement or Facility Management Agreement). View More