Q1, Q2, Q3, Q4 – accounting period quarters
#Ccr acronyms pro
PROMOTE – a return to the GP of the JV that is higher than a pro rata return on capital contributions intended to reward the GP for profits earned over a baseline IRR PMA – Property Management Agreement/ PM – Property Manager OP UNITS – Operating Partnership Units (typically issued by a REIT) OP EX – Operating Expenses (to be distinguished from Cap Ex) NON CON - Non Consolidation Opinion (for larger loans an opinion that this property will not be consolidated with other properties in a bankruptcy) NOI - Net Operating Income (similar to EBITDA) NDA – two meanings: Non-Disclosure (a/k/a Confidentiality) Agreement or Non-Disturbance Agreement (a/k/a “SNDA”) MIPA – Membership Interest Purchase Agreement (for the sale of LLC membership interests)
KYC – Know Your Customer (background check under money laundering and anti-crime rules)
JV – Joint Venture (usually in the form of an LLC) ICAP – Industrial & Commercial Abatement Program (property taxes) HVAC – Heating, Ventilation and Air Conditioning HUD – Department of Housing and Urban Development HARD DEPOSIT – a deposit that is or becomes non-refundable. GP – General Partner (although “general partner” refers to the old limited partnership format, it’s still often used to refer to the Manager or Managing Member of an LLC) GOOD GUY – Good Guy Guaranty – guaranty of rent during tenant’s period of occupancy – typically terminates upon delivery of vacant possession GO DARK – the restriction on or right of a store tenant to close the store for maintenance or other reasons or to simply close while still paying rent
#Ccr acronyms mac
This list will help Olshan lawyers decipher the sentence, “We need to sign the NDA before they give us the LOI for the JV.”ĪCRIS – Automated City Register Information SystemĪLTA 9 – Title policy endorsement that insures against violations of CCRsīLA – Building Loan Agreement (construction loan)ĬAM – Common Area Maintenance charges (usually for shopping centers)ĬAP EX – Capital Expenditures (to be distinguished from OP EX)Ĭarve Outs – the exceptions to the non-recourse provisions of loan documents, typically guaranteed under a non-recourse carve-out guaranty, a/k/a Bad Boy GuarantyĬCR – Conditions, Covenants, and RestrictionsĬEMA – Consolidation, Extension and Modification AgreementĬFIUS – Committee on Foreign Investment in the U.S.ĬO, COO or C of O – Certificate of OccupancyĬONFI – Confidentiality Agreement (a/k/a Non-Disclosure Agreement or NDA)ĭCR or DSCR or DSR – Debt Service Coverage RatioĮBITDA – Earnings Before Interest, Taxes, Depreciation and Amortization (similar to NOI)įADR – Floor Area Development Rights (a/k/a Air Rights)įDIC – Federal Deposit Insurance CorporationįEMA – Federal Emergency Management AgencyįHLMC – Freddie Mac (Federal Home Loan Mortgage Corporation) (a/k/a Freddie)įIRPTA – Foreign Investment in Real Property Tax Act To help our junior lawyers we have gathered many acronyms, abbreviations and phrases that are commonly used in commercial real estate transactions in New York. Copyright, Trademark and Other Intellectual Property.PLEASE NOTE: Some acronyms may stand for more than one phrase. HHS is not responsible for the contents of any "off-site" web page referenced from this server. Reference in this website to any specific commercial products, service, manufacturer, or company does not constitute its endorsement or recommendation by the U.S. You are subject to that site's privacy policy when you leave our site. To find an acronym, select its first letter and browse the list.ĭisclaimer: This website has links to many other federal agency and private organizations. Links for the "definition" of the acronym are available for those included in our Glossary, as well as direct links to the websites of other agencies. This list gives you the acronym and meaning about words and terms found throughout documents on this site.