Entitled Land. Fifty percent (50%) of the GAAP Value of all Entitled Land (subject to the twenty percent (20%) limitation specified in Section 3.5(b)(iii)); plus
Entitled Land. Any Entitled Land may be included in Eligible Assets as Entitled Land for not more than twenty-four (24) months from the date such Entitled Land was first included in the Eligible Assets as Entitled Land.
Entitled Land. Entitled Land means Entitled Commercial Land and Entitled Residential Land. Entitled Residential Land. Entitled Residential Land means unimproved and improved residential land owned by Borrower which is zoned to permit residential development (attached or detached), as a use by right (or comparable classification under local law).
Entitled Land. 32 (b) Lots Under Development....................................... 32 (c) Finished Lots................................................ 32 (d) Units........................................................ 32 5.5
Entitled Land. All of the Projects consist of Entitled Land.
Entitled Land. With respect to Entitled Land, the Maximum Allowed Advance shall be the lesser of (i) fifty percent (50%) of the Appraised Value, or (ii) fifty percent (50%) of the Acquisition Cost.
Entitled Land. Land owned by Borrower, Guarantor or a Future Guarantor that is to be acquired or held for future development that is zoned to allow for the development of single-family residential Lots, and that does not meet the definitions of Land Under Development or Finished Lots.
Entitled Land. Land owned by a Borrower (a) that is encumbered by a Security Deed in favor of the Agent, (b) that is suitable for the development of Homes, (c) which the applicable Borrower intends to develop for the sale of lots or Homes and (d) with respect to which preliminary approval and entitlement from required federal, state and local governmental authorities and agencies of a tentative map, a preliminary development plan or other plan required by applicable law in accordance with the provisions of all applicable federal, state and local law has been obtained such that in each instance such Borrower has the right to develop such Land for Homes substantially in accordance with the intentions of such Borrower. ENVIRONMENTAL ENGINEER. A firm of independent professional engineers or other scientists generally recognized as expert in the detection, analysis and remediation of the Hazardous Substances and related environmental matters and reasonably acceptable to the Agent. ENVIRONMENTAL LAWS. See Section 6.20(a).
Entitled Land. Each Lot included in Entitled Land shall be included in Eligible Property for the period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Lot. After the expiration of the final A&D Lot Maturity Date, such Lot shall be excluded from Eligible Property; provided, however, that upon the conversion of any Lot that is Entitled Land to either a Developed Lot or a Lot Under Development, such converted Lot shall be included in Eligible Property for an additional period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Developed Lot or Lot Under Development.
