![]() ![]() ![]() Net Yield means, on any day, the percentage equivalent of (a) four multiplied by (b) a fraction the numerator of which is equal to (i) the sum of (x) the aggregate of all interest collected on Contracts during the three immediately preceding Collection Periods, (y) the investment earnings on amounts deposited in the Prefunding Account transferred to the Payment Account with respect to the three immediately preceding Distribution Dates and (z) the amounts transferred from the Capitalized Interest Account to the Payment Account with respect to the three immediately preceding Distribution Dates, minus (ii) the sum of (A) the aggregate outstanding principal balances of Contracts which became Liquidated Contracts other than by virtue of a Full Prepayment during such three Collection Periods (less any Net Liquidation Proceeds received with respect to such Liquidated Contracts during such three Collection Periods) and (B) interest paid to the Noteholders and the Servicing Fees paid to the Servicer during such three Collection Periods, and the denominator of which is equal to the average of the Pool Balances as of the last day of each of such three immediately preceding Collection Periods.Īdjusted NOI means, with respect to any Property for the Current Reporting Quarter, annualized, an amount equal to (a) the aggregate gross revenues (excluding non-cash revenues) from the operations of such Property during such period, minus (b) the sum of (i) all expenses and other proper charges incurred in connection with the operation of such Property during such period (including real estate taxes, but excluding any property and asset management fees, debt service charges, income taxes, depreciation, amortization and other non-cash expenses and excluding capital expenditures), (ii) a management fee equal to the greater of (A) two percent (2%) of the aggregate gross base rental revenues (excluding non-cash revenues) from the operations of such Property during such period and (B) actual property management fees paid, and (iii) a replacement reserve of $0.10 per square foot (excluding any Property acquired during the Current Reporting Quarter). Projected PJM Market Revenues means a component of the Market Seller Offer Cap calculated in accordance with Tariff, Attachment DD, section 6.Īnnualized EBITDA means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share (as defined below) of earnings before interest, taxes, depreciation and amortization (“EBITDA”), with other adjustments as are necessary to exclude the effect of all realized or unrealized gains and losses related to hedging obligations, items classified as extraordinary items and impairment charges in accordance with generally accepted accounting principles, adjusted to reflect the assumption that (i) any EBITDA related to any assets acquired or placed in service since the first day of such four-quarter period had been earned, on an annualized basis, from the beginning of such period, and (ii) any assets disposed of during such four-quarter period had been disposed of as of the first day of such period and no EBITDA related to such assets had been earned during such period. ![]()
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