Gross Operating Income

Gross Operating Income. Shall mean the sum of all rental payments ("Gross Rents") plus all expense reimbursements ("Expense Reimbursements"), in each case to the extent actually received directly or indirectly by or on behalf or credited to Borrower from any person with respect to Borrower's ownership, use, development, operation, leasing, franchising, marketing or licensing of the Property. Gross Operating Income shall be computed on a cash basis and shall include for the previous month, all amounts actually received... by or on behalf of or credited to Borrower in such month whether or not such amounts are attributable to a charge arising in such month. Gross -Operating Income shall not include proceeds of any loan to Borrower, including, without limitation, the Loan, any insurance proceeds (other than business interruption insurance proceeds, which shall be included) or any capital contribution made to Borrower by partners or members in Borrower. 1 View More