Condominium Properties Sample Clauses

Condominium Properties. (b) For the purposes of this Section 9.4, (A) Investments in any of items (i) through (vii) of clause (a) above held by a Non-Wholly Owned Subsidiary shall be valued based on the respective pro rata shares of such items owned by PPI, the Borrower and its Wholly Owned Subsidiaries, (B) the Investment in any Unconsolidated Affiliate will equal PPI's, the Borrower's and their respective Wholly Owned Subsidiaries' pro rata shares of (I) the value (determined in the manner set forth in clause (b) of the definition of Gross Asset Value) of the Properties owned by such Unconsolidated Affiliate, (II) the undepreciated GAAP book value of any Construction-in-Process owned by such Unconsolidated Affiliate in the preceding fiscal quarter, and (III) GAAP book value of any Unimproved Land owned by such Unconsolidated Affiliate in the preceding fiscal quarter, (C) Investments in any of the above items (i) through (vii) of clause (a) above held as part of a Mixed-Use Project shall be valued after excluding the value attributable to the Excluded Portion of such Mixed-Use Project and (D) all other Investments will be valued at the lower of undepreciated GAAP book value or market value.
Sample 1
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Related to Condominium Properties

  • Condominium This Lease and all rights of Tenant hereunder are and shall be subject and subordinate in all respects to any condominium declaration and any other documents (collectively, the “Declaration”) which are or shall be recorded in order to convert the Land and the improvements erected thereon to a condominium form of ownership in accordance with the provisions of Article 9-B of the Real Property Law, or any successor thereto, provided the Declaration does not include other terms which increase Tenant’s obligations (in any material respect) or decrease Tenant’s rights (in any material respect). If any such Declaration is to be recorded, Tenant, upon the request of Landlord, shall enter into an amendment of this Lease confirming such subordination and modifying the Lease in such respects as shall be necessary to conform to such condominiumization, including, without limitation, appropriate adjustments to Tenant’s Tax Share and Tenant’s Operating Share and appropriate reductions in the Operating Expenses for the Base Operating Year and the Base Tax Amount; provided, that, such amendment shall not reduce Tenant’s rights or increase Tenant’s obligations under this Lease (in either case in any material respect) or increase Tenant’s monetary obligations under the Lease.

  • Condominiums If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development), or stock in a cooperative housing corporation, such condominium, cooperative or planned unit development project meets the eligibility requirements of Fxxxxx Mxx and Fxxxxxx Mac.

  • Condominium Documents Mezzanine Lender shall have received copies of all Condominium Documents;

  • Leased Properties Section 3.22 of the Disclosure Schedule sets forth a list of all of the leases and subleases ("Leases") and each leased and subleased parcel of real property in which the Company has a leasehold or subleasehold interest or to which the Company is a party either as landlord or sublandlord (the "Leased Real Property"). Each of the Leases are in full force and effect, and the Company holds a valid and existing leasehold or subleasehold interest or Landlord or Sublandlord interest as applicable, under each of the Leases described in Section 3.22 of the Disclosure Schedule. The Company has delivered to HK true, correct, complete and accurate copies of each of the Leases. With respect to each Lease set forth on Section 3.22 of the Disclosure Schedule: (i) the Lease is legal, valid, binding, enforceable and in full force and effect; (ii) to the Knowledge of the Company the Lease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (iii) neither the Company, nor, to the Knowledge of the Company, any other party to the Lease, is in breach or default, and no event has occurred which, with notice or lapse of time, would constitute such a breach or default by the Company or permit termination, modification or acceleration under the Lease by any other party thereto; (iv) the Company has not, and, to the Knowledge of the Company, no third party has repudiated any provision of the Lease; (v) there are no disputes, oral agreements, or forbearance programs in effect as to the Lease; (vi) the Lease has not been modified in any respect, except to the extent that such modifications are disclosed by the documents delivered to HK; (vii) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the Lease (except for Permitted Liens); and (viii) the Lease is fully assignable to HK without the necessity of any consent or the Company shall obtain all necessary consents prior to the Closing.

  • The Properties 3.1 All of the Properties are in England, Wales or Scotland.

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Project The Land and all improvements thereon, including the Building, the Parking Facilities, and all Common Areas.

  • Property Mortgaged Borrower does hereby irrevocably mortgage, grant, bargain, sell, pledge, assign, warrant, transfer and convey to Lender, and grant a security interest to Lender in, the following property, rights, interests and estates now owned, or hereafter acquired by Borrower (collectively, the "Property"):

  • Leasehold Properties In relation to those Properties which are leasehold:

  • The Property The term “Property” shall also include the following:

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