Unimproved Land Clause Samples
The 'Unimproved Land' clause defines land that has not been developed or altered by the addition of structures, utilities, or significant landscaping. In practice, this clause clarifies that the property in question remains in its natural state, without buildings, paved surfaces, or other improvements typically associated with developed real estate. Its core function is to ensure both parties understand the condition and value of the land being referenced or transferred, reducing ambiguity and potential disputes over what constitutes 'improved' versus 'unimproved' property.
Unimproved Land. Land on which no development (other than improvements that are not material and are temporary in nature) has occurred and on which no development is scheduled to occur within the following twelve (12) months.
Unimproved Land. As at the end of any fiscal quarter and any other date of measurement, the Obligors shall not permit the book value of Unimproved Land to exceed 10% of Gross Asset Value.
Unimproved Land. Any Real Estate consisting of raw land which is not improved by Buildings.
Unimproved Land. The Reissue Rate is available on policies on real property which is unimproved except for roads, bridges, drainage facilities, and utilities if the current owner’s title has been insured prior to the application for a new policy; or
Unimproved Land. All those tracts or parcels of land described in Exhibit B-2 attached hereto and incorporated herein, containing approximately 56.5492 acres.
Unimproved Land. The Borrower’s pro rata share of assets held by Unconsolidated Affiliates (excluding assets of the type described in the immediately preceding clause (a)) will be included in Total Asset Value calculations consistent with the above described treatment for wholly owned assets. For purposes of determining Total Asset Value, Net Operating Income from Properties acquired or disposed of by the Borrower, any Subsidiary of the Borrower or any Unconsolidated Affiliate during the immediately preceding four
Unimproved Land. NET PROCEEDS.............................................
Unimproved Land. 5.▇▇▇▇▇▇ Common Lot (Section 3.2.3): Undeveloped land located in the City of Sunnyvale, County of Santa Clara, California, as more particularly described on Exhibit "A-2" attached hereto and commonly known as follows: (i) an approximately 130,070 square foot parcel known as Parcel 10; (ii) an approximately 48,700 square foot parcel known as Parcel 11; and (iii) an approximately 44,475 square foot parcel known as Parcel 12. The Unimproved Land parcels are fully entitled to build 413,814 square feet of office improvements and a parking garage. That certain approximately 704,077 square foot common lot (the "Google Common Lot"), as depicted in Exhibit “A-3” attached hereto, which shall be subdivided from the Common Lot pursuant to Section 3.2.3.