Vacant Property Sample Clauses

Vacant Property. The owner of the property is responsible for all charges unless a tenant has been authorized by the property owner to be billed for service.

Vacant Property. A Property that has been economically vacant for (i) the period from acquisition until the applicable measurement date, if less than six months or (ii) at least six months as of the applicable date of measurement.

Vacant Property. A Property that (i) for over thirty percent (30%) of its leasable square feet does not have third-party tenant leases in place; or (ii) has not collected at least seventy percent (70%) of the Property's total potential rental revenue based upon full occupancy, except if not attaining seventy percent is a result of tenant improvements, concessions or similar leasing incentives contained in leases approved by the Board for (i) the period from acquisition until the applicable measurement date, if less than six months or (ii) for the six months immediately preceding the date of measurement. 2%/25% Guidelines. The requirement pursuant to the NASAA Guidelines that, in any 12-month period, total Operating Expenses not exceed the greater of 2% of the Company's Average Invested Assets during such 12-month period or 25% of the Company's Net Income over the same 12-month period.

Vacant Property. The Landlord acknowledges that the management service provided by the Agent is only applicable to a property which is let to a tenant. Where the property is vacant between tenancies the Landlord must ensure that steps are taken to provide sufficient security and the compliance with any insurance policies in effect.

Vacant Property. That portion of the Land designated as Parcel 29C-1 and described on Exhibit A-1.

Vacant Property. The CDCs will maintain the inventory of abandoned residential structures within their service area. If a property is open, vacant and vandalized (OVV), the CDC shall check Accela Citizen’s Access to determine the status of the property. If the property is already condemned (at any time) or if there is a violation notice issued within the last two years, the property should not be submitted to B&H for an inspection. The CDC can check with the Chief on the status of the property. If the property needs to be boarded or re-boarded, even if there is an outstanding violation notice or condemnation notices, it can be submitted directly to B&H requesting a board up. The status of board up requests can be discussed at the monthly meeting.

Vacant Property. When a property is vacant for 60 consecutive days or more, PPM is to receive a Vacancy Permit (ISO form CP 04 05 or a form containing equivalent language) issued by the property insurance carriers on each location when the vacancy rate is greater than 69% of the total net rentable square footage. If any buildings are constructed, added, or significantly altered by 10% or more of the property value and/or affect any part of the rents, a Builder’s Risk Insurance Policy is required on a completed value form in an amount equal to 100% of hard costs. There must be delayed income insurance covering not less than 12 months anticipated loss of gross income. All builder’s risk coverage terms and conditions are subject to PPM approval. Once the project has been completed, the property in its entirety must comply with all the PPM insurance requirements stated herein. Acceptable maximum per occurrence Deductibles are the following: Property $25,000 per occurrence Boiler & Machinery/Equipment Breakdown $25,000 per occurrence Business Income 72 hour (3 day) waiting period Named Windstorm % of insured value — Negotiable per Loan Basis Earthquake % of insured value — Negotiable per Loan Basis Flood $5,000 NFIP Policies; Excess Flood — % of insured value — Negotiable per Loan Basis

Vacant Property. Except as expressly provided in Section 7.2(d), Buyer has reviewed and approved all matters in any way relating to the Vacant Property, including, without limitation, zoning, entitlements, approvals, licenses, permits, access, easements, permits, impact fees, traffic issues, environmental matters, flood plain issues, and wetlands issues (collectively, the "Land Development Requirements"), including, without limitation, (i) State of New Jersey Agreement #2585, dated November 14, 1978, including all exhibits, amendments and addenda thereto, (ii) Developer's Agreement between Seller and The Township of Parsippany-Xxxx Hills, dated September 1, 1992, including all exhibits, amendments and addenda thereto, and (iii) Agreement between Seller and The Township of Hanover, dated [blank], 1994, including all exhibits, amendments and addenda thereto. Buyer shall assume at Closing all of Seller's and Prudential's obligations under the documents and instruments evidencing the Land Development Requirements, and at Closing Buyer shall replace all guaranties, bonds, letters of credit, and cash deposits provided by or on behalf of Seller or Prudential with respect to the Vacant Property, with substitute security in accordance with the requirements of the applicable authority (or if the applicable authority does not allow such a substitution, at Closing Buyer shall execute and deliver an indemnity agreement, in form and substance reasonably satisfactory to Seller, pursuant to which Buyer indemnifies Seller or Prudential, as the case may be, for any and all costs, loss, damages and expenses, of any kind or nature whatsoever, including reasonable attorneys' fees and costs, arising out of or resulting from Buyer's failure to satisfy the Land Development Requirements).

Vacant Property. If Servicer hereafter becomes aware that a Property is vacant, abandoned or similarly categorized by local authorities under applicable Requirements, Servicer shall, at Owner’s expense, either itself or through an agent selected by the Servicer, undertake to fulfill any obligations for licensure, registration, property upkeep or other similar or associated requirements with respect to the Property under applicable Requirements, provided however that any such costs, expenses, or Liabilities associated therewith shall constitute Servicing Advances and are the responsibility of the Owner. Owner shall defend, indemnify and hold harmless from any Liability incurred by or asserted against any Indemnified Parties arising out of, in relation to or based upon such vacant or abandoned properties, provided, however, that the indemnity for vacant or abandoned properties shall not be effective with respect to any Liability directly and solely caused by Servicer that would otherwise be imposed by reason of Servicer's negligence, willful misfeasance or bad faith in the performance of or failure to perform duties hereunder

Vacant Property. The Manager shall be responsible for the upkeep and mowing of all unleased land and the upkeep of any unleased Sponsor-owned buildings at the Airport.