Developable Land Sample Clauses

Developable Land. Acquire additional Developable Land during any period in which Borrower’s Debt Rating is not Investment Grade, unless the following conditions are continuously complied with: (i) the Consolidated Group is then and will immediately after such acquisition be in compliance with all covenants contained in this Agreement; (ii) the Property meets the requirements to constitute Developable Land; (iii) no Default or Event of Default exists or would occur upon such acquisition; and (iv) the aggregate net book value (including capitalized interest and overhead) of all Properties (excluding Amenities, Units and Tower Units) not subject to a purchase contract, less the balance of applicable CDD Obligations, is less than one hundred fifty percent (150%) of Adjusted Tangible Net Worth.
Sample 1
AutoNDA by SimpleDocs
Developable Land. All Properties (a) on which Units and Developed Lots may then be constructed or developed under Applicable Laws and regulations, (b) its intended use for a Project is permissible under the applicable regional plan, development agreement or applicable zoning, all of which have Vested status, and (c) the environmental or regional impact report for the intended use, if required, is Vested, but specifically excluding any land on which a Property Owner and Lead Agent reasonably agree that development is restricted under federal or state wetlands protection or other Environmental Laws. Notwithstanding the foregoing provisions of this definition, Unentitled Land which is both (i) contiguous to Developable Land and (ii) an integral part of the overall development of such Developable Land as evidenced by a comprehensive plan including such Unentitled Land approved by the applicable Governmental Authority, may be included in the Borrowing Base as Developable Land once approved by Lead Agent. Developable Land Book Value. The acquisition cost of a parcel of Developable Land. Developed Lots. Each of the platted subdivided lots and the Horizontal Improvements thereon located on Developable Land and which, under Applicable Laws and regulations, may be utilized as the site for a Unit, high-rise condominium or multi-family facility including specifically those lots (a) that are ready for construction of a Unit, high-rise condominium or multi-family facility and for which a building permit would then be issued to a Property Owner if applied for, (b) with construction of Units underway thereon or (c) with fully constructed Units situated thereon, but excluding lots under development that are not yet ready for construction of Units thereon. Developed Lot Book Value. The cost of each Developed Lot determined by allocating the acquisition cost and Developed Lot Costs of each Project (or parcel of land located therein) among the lots and other land (such as commercial, industrial, Amenities, etc.) located therein, which allocation shall exclude any marketing and corporate general and administrative expenses.
Sample 1
Developable Land. All land owned by the Borrower (a) on which Units may be constructed under applicable laws and regulations and described as "Land for Development" in the Borrower's financial statements, or (b) currently zoned to permit development of Units, specifically excluding, however, (a) Developed Lots, (b) Sold Units, (c) Unsold Units, and (d) any land on which the Agent determines that development is restricted under federal or state wetlands protection or other environmental statutes.
Sample 1
Developable Land. The Borrowers shall be permitted to acquire additional Developable Land, provided that the following conditions are continuously complied with: (i) the Consolidated Group is then and will immediately after such acquisition be in compliance with all covenants contained in this Agreement; (ii) the Property meets the requirements to constitute Developable Land; (iii) no Default or Event of Default exists or would occur upon such acquisition; and (iv) the aggregate net book value (including capitalized interest and overhead) of all Properties (excluding Amenities and Units) not subject to a purchase contract, less the balance of applicable CDD Obligations, is less than one hundred fifty percent (150%) of Adjusted Tangible Net Worth.
Sample 1
Developable Land. The components of the gross Developable Land on the Property are shown in Figure 5 and consist of:
Sample 1
Developable Land. Unless parts of this land are deeded to the City and become public land, right of way, or City Streets, and the City agrees to maintain such dedicated land, Developer will be responsible for operating and maintaining the Developable Land shown in Figure 4. Operations and Maintenance will include landscaping, cleaning, and capital repairs of onsite infrastructure such as streets, sidewalks, and street furniture, and of onsite sewer and water lines built by Developer.
Sample 1
Developable Land. All land owned by the Borrower or a Borrower Subsidiary on which Units may be constructed under applicable laws and regulations and described as "Land for Development" and which is currently zoned to permit development of Units with all necessary approvals, specifically excluding, however, (a) Developed Lots, (b) Sold Units, (c) Unsold Units, (d) Land Work in Process, (e) Commercial Property and (f) any land on which the Agent determines that development is restricted under federal or state wetlands protection or other environmental statutes. Developed Lots. Each of the plotted subdivided lots having Horizontal Improvements for such lots constructed thereon owned by the Borrower or a Borrower Subsidiary which, under applicable laws and regulations and taking into account other factors affecting the possible use of such property, may be utilized as the site for a Unit, including specifically those lots that are ready for construction of a Unit and for which a building permit would then be issued to the Borrower if applied for but excluding (a) Unsold Units, (b) Sold Units, and (c) Land Work in Process.
Sample 1
AutoNDA by SimpleDocs

Related to Developable Land

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Partnership Property All property, real, personal, tangible, intangible, or mixed, acquired by or contributed to the Partnership shall be owned by the Partnership and titled in its name and such property shall not be owned individually by any Partner. Each Partner acknowledges and agrees that the System and all elements thereof, are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Proprietary Marks are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Partnership shall not acquire or own any land or buildings. Any land or buildings used in the Partnership business shall be acquired and owned by the Company or an Affiliate of the Company and leased to the Partnership at reasonable rates and terms, and such land and buildings shall not be Partnership property.

  • The Properties Attached hereto as Schedule I is the description of certain Land (the "Subject Property"). Effective upon the execution and delivery of this Lease Supplement by Lessor and Lessee, such Land, together with any Building and other improvements thereon or which thereafter may be constructed thereon shall be subject to the terms and provisions of the Lease and Lessor hereby grants, conveys, transfers and assigns to the Related Lessee those interests, rights, titles, estates, powers and privileges provided for in the Lease with respect to the Subject Property.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Materials and Equipment ‌ Material means property that may be consumed or expended during performance, component parts of a higher assembly, or items that lose their individual identity through incorporation into an end item. Equipment means a tangible item that is functionally complete for its intended purpose, durable, nonexpendable, and needed for performance. Materials and Equipment shall be priced in accordance with the terms of the task order award, contract type, and applicable FAR and agency-specific regulatory supplements. Unless otherwise directed by task order terms and conditions, the Contractor may apply indirect costs to materials and equipment consistent with the Contractor’s usual accounting practices.

  • Project Site The “Project Site” is the place where the Work is being carried on.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • The Property The Landlord agrees to lease the described property below to the Tenant: (enter the property information) Mailing Address: [PROPERTY MAILING ADDRESS] Residence Type: ☐ Apartment ☐ House ☐ Condo ☐ Other: [OTHER] Bedroom(s): [# OF BEDROOMS] Bathroom(s): [# OF BATHROOMS] The aforementioned property shall be leased wholly by the Tenant (“Premises”).

  • Real Property; Assets (a) Neither the Company nor any of its Subsidiaries currently owns any real property and, since January 1, 2014, have not owned any real property. (b) Section 4.17(b) of the Company Disclosure Letter sets forth as of the date hereof a true, correct and complete list of all leases, subleases, licenses, occupancy and other agreements under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy, now or in the future, any real property (the “Real Property Leases”). The Company has heretofore made available to Parent true, correct and complete copies of all Real Property Leases (including all material modifications, amendments, supplements, waivers and side letters thereto). Each Real Property Lease is valid, binding and in full force and effect, all rent and other sums and charges payable by the Company or any of its Subsidiaries as tenants thereunder are current in all material respects. No termination event or condition or uncured default on the part of the Company or, if applicable, any of its Subsidiaries or, to the Knowledge of the Company, the landlord thereunder exists under any Real Property Lease, except as, individually or in the aggregate, would not reasonably be expected to have a Company Material Adverse Effect. Except as would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect, and subject to the Enforceability Exceptions, the Company and each of its Subsidiaries have good and valid leasehold interests in each parcel of real property leased by them free and clear of all Liens, except Permitted Liens. Neither the Company nor any of its Subsidiaries has received written notice of any pending, and to the Knowledge of the Company, there is no threatened, condemnation with respect to any property leased pursuant to any of the Real Property leases. (c) The Company and its Subsidiaries have good and marketable title to all of the assets reflected as owned on the most recent balance sheet of the Company contained in the Company SEC Reports filed prior to the date hereof (except for properties or assets that have been sold or disposed of in the ordinary course of business consistent with past practice since the date of such balance sheet) free and clear of any Liens, except for Permitted Liens. All material items of equipment and other tangible assets owned by or leased to the Company and its Subsidiaries are adequate for the uses to which they are being put, are, in all material respects, in good operating condition and repair (ordinary wear and tear and ongoing maintenance excepted).

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

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!